Dr Michael Rehm: Housing expert says banks are aiding and abetting housing speculation, contributing to crisis

A property expert says banks are aiding and abetting housing speculation and thereby contributing to the housing crisis. Auckland University's Dr Michael Rehm says when it comes to speculation, banks take a more relaxed view towards lending to residential property investors than commercial buyers. And he says the banks are benefiting from that. Rehm says compared to countries like the United States, a huge amount of New Zealand's market is residential investment property. LISTEN ABOVESee omnystudio.com/listener for privacy information.