The Labour Government Cannot Pass The Buck
The Reserve Bank has clearly thrown the responsibility for tackling high rents and First Home Buyers being priced out of NZ housing on to the Government.
“[T]he house price level may be sustainable in a market sense, even though rents may be high and deposits unaffordable for prospective first-home buyers.
“In this case, there are social costs that go beyond the implications of house prices for the Bank’s financial stability mandate and these call for a broader public policy response,” the report said"
https://www.stuff.co.nz/national/pol...fordable-house