New Zealand Offers Lessons for the U.S. Housing Bubble
Renewing America Staff
November 18, 2013
New Zealand resident Brett Plumer nails a national flag to his house in Auckland (Bogdan Cristel/Courtesy Reuters).
The Federal Reserve may have lessons to learn from New Zealand about managing a mortgage market. In an op-ed for Bloomberg, CFR Adjunct Senior Fellow Peter Orszag explains that by imposing limits on high loan-to-value mortgages, the Reserve Bank of New Zealand is helping to manage housing prices.
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