Page 10 - Michael Reddell News Today

RNZ The Reserve Bank is under attack for pouring fuel on the house price bonfire with its latest move to boost the economy, but its defenders say it’s not the banks job to control the housing market. An overheated housing market is not a problem unique to New Zealand but some countries boast stable, balanced markets – so how have they achieved that? New Zealand is in the midst of a housing crisis. House prices are sky-rocketing, affordability is increasingly stretched and there’s still a...

STUFF Prime Minister Jacinda Ardern speaks on rising house prices and reacts to calls for the Government to intervene in the Reserve Banks decision making. New Zealanders need to be willing to accept house price falls if the country wants to find a solution to the housing crisis, ANZ economists say. In the bank’s latest Property Focus report, the economists said that while practical measures to address housing supply were essential, so too was a change in expectations. “Political buy-in f...

10th Dec 20, 4:45pm Image sourced from pxhere The Salvation Army wants the Reserve Bank (RBNZ) to make it easier for banks to lend against residential property with alternative tenures. In a briefing to the Housing Minister, the charity said a “mature” housing market should have at least 20% of its stock comprised of alternative tenures like cooperative ownership, co-ownership, progressive ownership, community land trusts and build-to-rent set-ups. It said New Zealand would benefit from a ...