Tuesday, May 19, 2015
House Prices Keep Going "Up"
The National Government continues to timidly tinker with measures to control an overheated housing market. Many New Zealanders are wondering why he does not support restricting overseas buyers (and capital) and reduce immigration to choke off excess demand. The USA and Ireland had a similar to problem NZ and suffered when the house price bubble burst and plunged them into a bitter recession. Sadly, recessions affect the whole economy and it seems John Key is blind to the experience of other nations and even our own history!