For sale. A common sign in Whanganui.
They're calling it a ripple.
But it feels more like a tsunami to some.
Whanganui's housing market is the hottest it's been for some time.
And while that's generally accepted to be a good thing, there are inevitable downsides.
One can only imagine what those struggling to find a place to rent will think of today's page one story that reports those selling up are pocketing a cool $75,000 profit each.
Ouch.
It would appear mum and dad investors – among others – are exiting the rental scene while prices are good. The homes, still relatively cheap in New Zealand terms, are being swooped upon by mainly first home buyers – and that's great, the Kiwi dream alive and well.
And so the rental stock is shrinking. And the dream has become a nightmare for thousands of our families who can't raise a mortgage and who are struggling to afford high rents.
And they are the lucky ones. Many have yet to find a place to rent with as many as 40 prospective tenants vying for a single house, and others living off the generosity of family and friends in what we're told is commonly called couch surfing.
Tomorrow the Chronicle takes a closer look at what is going on and who's being affected – both good and bad. We speak to first-home buyers, agents, those trying to rent and to social services.
It's a complex web of cause and effect, and a fascinating marker of the times.
One person described what Whanganui is going through as a ripple from the over-heated Auckland and Wellington housing markets. Those who are squeezed out find their way here.
But the question is where do those go who are being squeezed out here?
'It has been challenging but it was important to see it through.'