"This is the kind of warning from inside the system that should, if nothing else, shake the Government." NZ First leader Winston Peters said Hisco's warning of a "messy end" was totally predictable and avoidable but had been ignored by the Government and others for too long. By Nicholas Jones, Claire TrevettA top banker's dire warning about New Zealand's overheated house prices shows the market is in crisis and an immigration rethink is needed, Labour says. And I can understand why the Reserve Bank and others in finance and economics are very concerned." But any conception such a build up in the house price bubble could go on shows what enormous denial the political system is in."

Source: New Zealand Herald July 20, 2016 07:58 UTC