New Zealand, particularly vulnerable to a housing crash, tightens its belt as rates soar - short news
New Zealand’s reserve bank delivered its largest rate hike in history on Wednesday, piling pressure on the country’s homeowners
Rosie Smyth and Richard Larsen, along with their toddler daughter, had spent years looking for an affordable home in Lyttelton, a small port town at the edge of Christchurch where Smyth grew up.
They were hunting in the midst of New Zealand’s housing affordability crisis, when prices rose to nearly nine times the average income. The market had a..
source: The Guardian - 24.11.2022