New Zealanders are carrying significant amounts of debt, and that could become a problem if a serious downturn hit, the Reserve Bank says. ROBERT KITCHIN/STUFF Reserve Bank governor Adrian Orr has highlighted the level of household and farm debt held in New Zealand. The global financial crisis (GFC) showed that house prices can fall dramatically in small regions." But the Reserve Bank said conditions there were different to New Zealand. There is evidence that down-side risks for house prices become more synchronised across advanced economies immediately before global recessions."

Source: Stuff May 28, 2019 22:30 UTC