Wednesday, Jun 20, 2007
The risk
bloomberg.com: N.Z.'s Cullen There's Risk of `Significant Downturn' in Housing
New Zealand's Finance Minister Michael Cullen said there's a risk of a ``significant downturn'' in housing after the central bank raised its benchmark interest rate to a record to cool demand. ``There's a risk if what could kindly be called a technical correction or a significant downturn,'' Cullen said at a meeting of the parliament's finance and expenditure committee in Wellington today.
Posted by out of control speculators @ 02:06 AM (156 views) Add Comment
2 Comments
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1. Semi-detached-from-reality said...
Good article.
I saw another interesting one in the Hawkes Bay Today (NZPA), Wednesday with more of the stuff about getting rid of the tax breaks for property investors. Can't seem to find it on-line though... Between them, Cullen, Key and English, who represent the Labour party and National, are desperate for ways to burst the housing bubble, and get that dollar down. When they can all agree at last, something pretty interesting will happen.
Got to protect the export industries (read Dairy Industry)
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