Geoff Bascand ex RBNZ said
"But they could not be expected to "fix" the housing market. "We can lean against house prices by increasing the cost and restricting the availability of credit, but we cannot alter the supply of land or buildings and should not be held responsible for the housing market.""
Although it looks like treasury and Tony Alexander do not agree with this statement.
The "leaders" at the RBNZ are doing all they can to deflect any responsibility for runaway house prices. They aren't solely responsible but I would have thought largely responsible. Do really strong "leaders" not accept the consequences of their actions?
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