At this rate the only winners will be those who own rental property.
People have to live somewhere so if they can’t own what choice do they have?
Who first coined the phrase “unintended consequences”?
First-home buyer numbers fall
MATT NIPPERT17/03/2014
Reserve Bank limits on low-deposit mortgages are cutting down the proportion of first-home buyers, a survey says.
The Bank of New Zealand-Real Estate Institute of New Zealand residential market survey found 17 per cent of agents said sales during February were to first-home buyers, down from 24 per cent a year ago.The results follow the survey finding 80 per cent of agents reporting fewer first-home buyers in November and December.
In October the Reserve Bank put strict limits on banks offering mortgages with less than 20 per cent deposits.link:
http://www.stuff.co.nz/business/money/9836541/First-home-buyer-numbers-fall
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