Is it House Price inflation that is Out-of-control, or the House Price inflation Blame-Game?
Today NZ finds itself in the midst of a comedy show with an economics theme. Earlier last week, an assortment of commentators, including a former National Party Minister of Finance, jumped on the Reserve Bank of NZ and blamed high house prices on low interest rates and Quantitative Easing. The Governor responded by saying that he was innocent - the problem was actually politicians who lacked "appetites for accepting policy recommendations". Today the Prime Minister is in the