Auckland’s New York House Prices Prompt Lending Curbs: Mortgages
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When it comes to buying a house, New Zealander Ginny Braun is finding that her home town of Auckland is rapidly catching up to New York City.
“The market feels crazy, it feels like it’s out of control,” said the 40-year-old associate professor of psychology at the University of Auckland, who’s been looking for a house for more than three years. “I’ve heard people say it’s cheaper to buy in New York than in Auckland. Having lived in New York, that doesn’t seem an outrageous claim.”