3) Recently, the COVID-19 crisis has hit the businesses very hard and New Zealand is not an exception. Few of the businesses in New Zealand disappeared, while some of them are managing by lowering their costs through job-cuts or reducing the working hours and so on. While the real estate sector is booming. You are asked to write a report describing the reasons for why the real estate sector in New Zealand is booming? Few people are experiencing capital gains while others are finding it difficult to buy a house. What suggestions do you have for the potential buyers? Advise when it would be an appropriate time to buy a house. (You may consider these tips: availability of Houses for sale, Rising income, housing bubble, lending provisions-banks, Government policy on interest rates and savings, among various others). (Hint: Develop your report based on your personal observations and experiences (from your friends/relatives/family (Word limit-800- 1200 words). (5 Marks) 3) Recently, the COVID-19 crisis has hit the businesses very hard and New Zealand is not an exception. Few of the businesses in New Zealand disappeared, while some of them are managing by lowering their costs through job-cuts or reducing the working hours and so on. While the real estate sector is booming. You are asked to write a report describing the reasons for why the real estate sector in New Zealand is booming? Few people are experiencing capital gains while others are finding it difficult to buy a house. What suggestions do you have for the potential buyers? Advise when it would be an appropriate time to buy a house. (You may consider these tips: availability of Houses for sale, Rising income, housing bubble, lending provisions-banks, Government policy on interest rates and savings, among various others). (Hint: Develop your report based on your personal observations and experiences (from your friends/relatives/family (Word limit-800- 1200 words)