Responsible Lending? I wonder….

[Logen Ninefingers]

I still can’t fathom the basic human mindset that things are not going to happen here because they haven’t yet happened here. It is truly astonishing.
Go back 2 years and no-one thought property prices could ever drop in NZ, and everyone readily brought into the ‘property experts’ (spruikers) standard spiel about how from now on property prices would double every 5 years.

[Logen Ninefingers]

Strange times indeed when the head economist of one of our major retail banks acknowledges that the Reserve Bank has finished hiking, says he expects that the US federal funds rate will go past where the OCR is now....but then says that he (and he's in a minority of one) expects the Reserve Bank to be able to cut rates in February with retail banks cutting mortgage rates in October in advance of this first OCR cut.

The fed funds rate can go past the OCR and the NZD won't lose its purchasing power? When pigs fly!

Retail bank economists and property 'experts' have proven to be some of the most non-credible people going around, yet are still keenly sought out by our pliant media.