Tuesday, May 15, 2007
Credit restrictions
Bollard to tackle high risk bank lending: www.nzherald.co.nz
But the bank remains concerned that the longer the current housing boom lasts, the sharper the correction will be. Governor Alan Bollard and his deputy, Grant Spencer, made it clear the bank expected the housing market to go through some kind of "correction" at some point - probably a gradual decline in "real" house prices as sale prices failed to keep up with inflation, as occurred in the late 1970s, rather than a "nominal" decline, where actual sale prices fall.
Posted by chris @ 10:59 PM (336 views) Add Comment
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