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Income restrictions not the way forward: NZ Institute

Wednesday 4th of June 2014
Media reports today said the Reserve Bank had not ruled out capping mortgages based on incomes, a move its British counterpart is considering to cool that country’s property market.
Bank of England governor Mark Carney has suggested an "affordability test" for borrowers, stopping them taking mortgages more than 4.5 times their salaries.
A Demographia study found...
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