PHOTO: NZ house prices. FILE
Politicians won’t fix it, The Reserve Bank says it is not their problem to fix directly – so no wonder the New Zealand residential property is out of control.
At www.propertynoise.co.nz we get to read allot about property markets around the world. Here is what we would do to instantly fix the unhealthy rise and rise of property prices in New Zealand.
- Raise Mortgage Interest Rates to 7% immediately for all buyers
- Keep lending interest rates at historical lows for business lending/investment
That’s It!
The property market, is being fueled by cheap money. Stop the cheap money- stop the massive price increases.
All the experts can say it is a demand a supply issue, or we should make it easier/cheaper to subdivide land etc… – yes BUT, that won’t stop the horse that has bolted through the stable door.
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