New Zealand Stops a Housing Bubble
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(Corrects description of earthquake damage in 10thparagraph.)
Nov. 18 (Bloomberg) -- Perhaps the Federal Reserve hassomething to learn from the central bank of New Zealand abouthow to manage a mortgage market. Unlike the Fed, which has beensharply criticized for having failed to keep the U.S. housingbubble from expanding, the Reserve Bank of New Zealand issounding the alarm over rising housing prices and imposinglimits on mortgages.