Canada is facing the same issues around property and foreign investors...and mainly from China...and overheated housing markets in the largest cities (while other regional and smaller towns are status or falling).
In this article in Macleans magazine (sort of Canada's equivalent to Time magazine in the US or The Listener here in NZ) they talk about how Canadian banks are moving actively to cool down property lending. For much of the article you could replace "Canada" with "new Zealand" and you could be talking about them interchangeably.
Note also the banks who have moved here in NZ appear to have done so in Australia either at the same time or very recently.
So.....this isn't just NZ. It's much bigger and wider than that. Behind it all are the central banks and their concern over debt levels and lending and rapidly-rising property prices in a context where - they know - most of the rest of these economies is on shakey ground.
No conspiracy here......just neo-liberalism heading for the same cliff everywhere.
As citizens and voters we have the opportunity every few years to chose who should be the government. It seems staringly obvious that to continue to elect governments with a neo-liberal economic agenda verges on the insane. Canada woke up and dumped it's Conservatives recently. The Australians are having an election shortly. The UK re- elected - thanks to First Past the Post - a conservative government that 65% of voters didn't vote for.....so clearly, they tried, but the voting system meant they just couldn't do it even if almost 2/3s of voters didn't want the Tories.
Our turn next year. More of this destructive nonsense? haven't we had enough since 1984?
So the crisis-du-jour is property. Or is is climate change? Or maybe growing income inequality? Burgeoning debt? The list goes.
Over my many many decades on this rock I have only experienced a few years of financial stability in NZ. As a National supporter I often how successful this financial system we have really is and often doubt does the West have it wrong.
I'm not really sure what you both are saying in relation to the credit policies of banks.