The frenzied housing market in Auckland and Christchurch has spurred the Reserve Bank to make drastic changes to how we borrow money.
Instead of having to save around 10% for a deposit, new rules mean you'll have to front up with 20%.
The changes to borrowing are an attempt to cool the property market. But the announcement has seen families racing to the bank for pre-approvals before it's too late. What the announcement means is if you're buying a house worth $400,000, you'll need a $40,000 deposit today - but by tomorrow it'll be $80,000.
The Reserve Bank expects a drop in first home buyers by 25% or around $7000 who will either delay or downsize their purchase. So how will Māori fare when only 45% own our own homes compared to 70% for Pākehā?
Mihingarangi Forbes is joined by business journalist Rod Oram, Tina Wilson, the Group CEO of IWIinvestor - the only Māori-owned KiwiSaver scheme, and architect Rau Hoskins.