I'm impressed by the politeness in the 19 reasons the BNZ's Tony Alexander offers for his view that it is unlikely we will see a property price collapse, and that it remains a good investment – but he says things without much euphemism in the 19th:

19. Members of the Opposition believe monetary fairies can make the exchange rate settle permanently
lower by forcing interest rate cuts and printing money while letting inflation therefore go up. Given the nonzero
possibility that such economically ignorant policies get introduced it is worth getting inflation protection
by investing more in property – not less.