LVR limits could return: RBNZ

At the INFINZ conference, Orr said the central bank was "looking at" the market, ready to act if necessary if the housing market becomes overheated.

Newsflash Governor Orr. The housing market is already overheated and this is thanks in part to your decision in April to remove the LVR restrictions for investors. This decision has since seen most lenders relaxing their deposit requirements for property investors. Now we have ASB stating today a 134% increase in high LVR lending (above 70%) in the three months to August, compared with the same period last year. Owner-occupiers meanwhile are getting squeezed out of properties that should be going into their hands. It's like watching a train wreck happening in slow motion.

At this point I think a class of year 13 economics students at Wellington College could probably do a better job than the so called experts currently employed up at 2 The Terrace, Wellington. The certainly couldn't do any worse!