This time the RBNZ will be forced to follow the market, and a deflating housing bubble, all the way towards zero. Australia is set to follow trend too.
I take that RBNZ's macro-prudential policies were as effective as pissing against the wind. Well continuing with the reflation trade should do wonder for those Keen's collapsed property prices.
If nothing else, rents should go up with cheap NZD attracting tourists and overseas students from China, etc. Good day for investors and borrowers.
