Following in the wake of recent warnings from Westpac and the ANZ Bank, New Zealand’s Chief Executive and Secretary of the Treasury, Gabriel Makhlouf, has highlighted the risks of New Zealand’s record mortgage debt to the financial system. From Interest.co.nz:
Speaking to interest.co.nz in a Double Shot Interview, Gabriel Makhlouf said: “What I’m concerned about… is less the house price, but the amount of debt and leverage that people have taken out, which creates a risk to the stability of the financial system.
