Should the rules around property change?
Friday, 8th August
Hi
The housing market tends to go into a boom and bust cycle. While it’s looking a bit sad at the moment, expect it to come back again. If you believe the Reserve Bank governor then it’s all the fault of politicians.
Reserve Bank governor Alan Bollard did a lengthy (18 mins) interview on radio this week where he discussed a number of things including the state of the housing market and his ability to influence it.
He maintains there are still fundamental distortions in the economy which favour investment in housing and there is little he can do about it.
Commentators often point to monetary policy as being the tool the bank can use to influence the market. Bollard made the point that he has been pushing up interest rates to get the market to come off.
It has done that with a “thump” he says.
However he also points out that monetary policy is not, and I love this, “perfect technology”.
Finish reading my blog
here and leave your comments.
Warm regards
The Landlord
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