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Watch: The NZ housing market: a canary in the coal mine? | UBS | FT Transact (youtube.com)
The era of ultra-low interest rates and cheap finance has driven a global house price boom, and in New Zealand the house price-to-income ratio has topped that of many OECD nations. But now, as interest rates rise and prices dip, the nation’s housing market has become something of a canary in the coal mine for the rest of the world.

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    Francisco Gimeno - BC Analyst The kiwi in the coal mine. This Is the short of this short video. New Zealand housing market behaviour is seen in it as an example of what may happen in other advanced economies. In fact real estate bubbles are happening in places like China too. Housing prices in NZ are going down, but interest rates rise. Due to the importance of this sector in any country this may cause more volatility and lead to more inflation and then recession if not tackled adequately (if that is possible in a global economy full of red lights and alarms.