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Dr Michael Rehm: Housing expert says banks are aiding and abetting housing speculation, contributing to crisis
A property expert says banks are aiding and abetting housing speculation and thereby contributing to the housing crisis.
Auckland University's Dr Michael Rehm says when it comes to speculation, banks take a more relaxed view towards lending to residential property investors than commercial buyers.
And he says the banks are benefiting from that.
Rehm says compared to countries like the United States, a huge amount of New Zealand's market is residential investment property.
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