Kerre Woodham: Is there any real reason to beat up on the banks?

Best of Business · Jun 21, 2023 · 7m

There's a perception that a generation of New Zealand homebuyers are greedy, acquisitive and are locking young Kiwis out of the property market. Why buy another house when you already have one?

Some economists have urged New Zealanders to put any savings into the share market so that local businesses can grow, but if you look back at this country's economic history; you can perhaps understand why older New Zealanders want their money to be as safe as houses.

We've had the Bank of New Zealand teeter on the precipice twice.

The first episode occurred in the late 80s and early 90s, after a rural…