Bubble or boom? Why ultra-low interest rates mean house prices may never bust – The Guardian

House pricesNew Zealand may have moved to curb rising prices but could cheap money have permanently rewritten the rules?
Its hard to disagree with the New Zealand governments recent assessment that the countrys runaway housing market has moved from mere boom to a bubble that endangers the whole economy. Prices rose a staggering 23% over the past year, putting home ownership way beyond most people not already on the fabled ladder younger, first-time buyers especially. If it walks like a bubble and…

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