This is going to sound harsh and I’m sorry for that but I don’t know how to say this any other way. Because two years ago house values were 30% below what they are now. For house values to come back that much would be catastrophic. Never mind what would happen once homeowners lose that much equity in their homes, whatever it is that causes house values to drop by that much would be devastating. So, the only way to interpret this is that our PM she just doesn’t know what she’s talking about.

Source: New Zealand Herald December 13, 2021 10:09 UTC