- New Zealand is looking down the barrel of a generation of renters.
Everyone agrees that is an issue, but no one can agree on how to solve it.
National’s David Bennett says councils need to free up land, Labour’s Nanania Mahuta doesn’t know what to do, but says it’s the children who are going to be worse off and the Reserve Bank is rumoured to be looking at further restrictions for lending on homes.
Several financial commentators are suggesting on May 11 the Reserve Bank will set macro-prudential policy, or targeted rules in regards to lending on houses, to try and level out the property market.
One suggestion that has been strongly touted is an increase in the required deposit – to 30 per cent.
* Resurgent housing market could herald more mortgage restrictions: economists
* Reserve Bank’s new loan restrictions for Auckland property investors
* Property experts say Bill English’s housing crash warning may not move market