Despite silly stories in the media about the recession being 'over', none of the economic news suggests that all.
Take troubled finance company Hanover Finance for instance. Once hailed as an example of 'New Zealand's new creativity and entrepreneurship' - which is how TVNZ once described the finance company - it has just given its poor investors an update on the current state of the New Zealand property market.
The news is bad. According to Hanover, the property market has continued to move 'in a negative direction' over the past three months. It says that assets are proving difficult to sell.
Also of interest is that Hanover has told its less than happy investors that it is also having difficulty recovering loans because of the collapse of the property market.
Hanover Finance lent Dave Henderson some $70 million for his ludicrous village project near Queenstown.
All that remains of Hendo's folly is a big hole. Hanover are trying to sell the land but are not exactly being swamped with offers.