Really? Logically speaking you must be right, but I haven't seen much evidence. Does the recession look different from New Zealand?
Yes for thes reasons:
1. The NZ banks were more stringent in their due diligence before offering loans during the credit boom years than elsewhere.
2. The agricultural nature of the economy means there is a permanent production baseline.
3. NZ partially benefits from the strength of the Australian economy, which is booming due to its large mining sector.
The result is that there is money around but investment opportunities for it are thin on the ground.