That crazy Bernard Hickey

Wow, what a guy.

Fresh from telling anyone who’ll listen that NZ’s biggest problem is its addiction to property, Bernard Hickey is now telling punters to get in quick to borrow against their home.

It seems that Esteemed Bill English (or Wiremu Pakeha as he is known as in Tuhoe) and the Reserve Bank is soliciting feedback on Loan value ratios, or LVRs.

This means that banks may not be able to loan more than a certain amount on a home, maybe 80%. (You will remember in the property boom 5-10 years ago, you could get 105%, because you needed a plasma TV to go with your Grey Lynn villa).?

Says crazy old Bernard:

“We know the Reserve Bank is serious and that banks are worried. For borrowers, that means if you were waiting until later this year or next year to get a high LVR mortgage, you may want to hurry.”

Is this the same Bernard Hickey who:

Warned against household debt here?

Said we should bring in LVRs and cool down lending growth?here?

Just wondering if ?its particularly responsible to tell people to go into bigger debt when you’ve been telling people to reduce debt.

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