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@resjudicata They have and they are falling drastically. There's little the government can do to counter the effect if interest rates. And many of the things the can do involve political backtracking e.g by allowing negative gearing again. The economy won't fail. The construction industry...

@stthomasmore Assuming there's no recession, and assuming rates don't go higher than expected

@resjudicata Runaway inflation? There comes a point where you can't postpone the (totally normal and expected part of a capitalist economy) economic contraction any more

@resjudicata A recession does not = "the economy will fail". NZ is long overdue for a bit of a correction

@pressfrancis It's too late

@niasia No lever comes close to countering the effect of interest rates. Unless the government is going to loan buyers hundreds of thousands of dollars to make up the difference between what they could borrow for a mortgage in 2021 and what they can borrow now

@iamactullygabenist They'd need magic to prop them up. It's interest rates that are doing all the heavy lifting, and parliament can't alter those. And the RBNZ isn't going to annihilate the economy by lowering interest rates while inflation is high

@baileyf14 This semi true but I eat ethnic food maybe once or twice a month (although the majority of food I make at home is probably considered "ethnic").

@baileyf14 Auckland sucks, to be fair. Source: I live in Auckland.

@sarahrachel If you're remaining in the country then ignore the student loan forever. The longer you have it, the more inflation eats it. One day it'll be gone and you'll suddenly get a bump in your take home pay. (The only time I'd deviate from this general rule is if the loan is almost...