Successive Reserve Bank of New Zealand governors have worried about runaway house prices and central bankers around the world have always been concerned about potential asset-price bubbles generally.That concern was epitomised by former Federal Reserve chair Alan Greenspan in his famous 1996 speech on the "irrational exuberance" then evident in tech stocks – a phrase he later said came to him while sitting in a bathtub.But now the RBNZ is making it clear that it takes no responsibility for the housing market looking decidedly ir...
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