Is the property boom a house of cards?

A new study by the Organisation for Economic Co-operation and Development (OECD) shows that New Zealand had the second-highest level of immigration in the world per head of population in 2001, beating countries such as Britain, Germany, Canada and the United States, where immigration has also been a major political issue.

Only Luxembourg out of the developed countries had a higher level than New Zealand.

While some New Zealand politicians may take comfort from being near the top of an OECD statistic, when we appear to be sliding towards the bottom in many of the more important ones, the figures will add fuel to the flames for those who, like Winston Peters, ask how many new arrivals is too many?

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