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Most of the borrowing has been in the form of mortgages, driving house prices higher.
Aucklanders complain that the influx of people is driving house prices in the city through the roof.
This sort of iconic history was irresistible to the people and organizations driving house restorations a century ago.
And yet the green belt around the city does not permit Oxford to expand, driving house prices higher than anywhere in the country, proportional to income.
Updated at 11.18am GMT 11.10am GMT Does Mark Carney agree that Funding for Lending has been a main factor in driving house prices up?
The mess was made years ago, when bad loans were made and the ready availability of credit was driving house values to unsustainable levels.
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Typically, most political campaigns rely on volunteers and party loyalists for tasks that include passing out palm cards, driving house-bound elderly people to the polls and reminding potential supporters to go vote.
The problems "could put us in real danger of driving housing well below fundamentals," he said.
And for the first time since Edward Koch was mayor, it puts the city back into the business of driving housing development.
Beyond driving housing credit, she added, the system "basically stops flexibility and mobility in the labor market because you can perhaps find a new job in another city, but it will then be very difficult to rent a house there".
Many Hong Kong residents blame growing immigration and tourism from mainland China for driving housing prices to unaffordable levels, for causing overcrowding in local schools and for making it harder for young people to find jobs.
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