The NZ mortgage market grew by more than $20 bln in the past year

[Wellington Broker]

Here is the key fact; in the three years to June 2016, ANZ won 40.3% of all new mortgage business, even though it started with just a 26.7% share.
In the 12 months to June 2016, it won 35.8% of all new business.
Mortgages now represent 55.4% of all its loans, a record high for the bank. Commercial and other personal lending are now a minority part of its business.
Meanwhile, the rivals that could challenge it are going backwards.
ASB has seen its market share fall to 22.3%, down from 23.5% three years ago.
BNZ has seen its market share fall to 15.8%, down from 17.1% three years ago.

The minnows don't count; ANZ grew in 2016 by more than the total mortgage loan book of HSBC, SBS Bank and TSB Bank combined.

http://www.interest.co.nz/personal-finance/85392/new-zealand-mortgage-market-grew-more-20-bln-past-year-and-one-bank-winning

[Perry]

And yet ANZ gets more than a few negative comments from Forumites, does it not?

[Learning]

ANZ is the most popular because two banks became one and doubled their market share overnight. Now they can tell everyone they must be the best because they have more market share.

People are sheep and follow the crowd. The majority can't be wrong, just ask Trump and Bretxit fans.

[andyp2010]

At this stage of the game, is it really a good thing to be the bank thats most heavily exposed to mortgage debt in record amounts? I wouldnt have thought so.

[Perry]

ANZ is the most popular because two banks became one and doubled their market share overnight.

Ahhh, yes, I'd forgotten about the National Bank takeover.

People are sheep and follow the crowd.

While I concur with that sentiment, I think PT Forumites are neither crowd followers, nor sheep.

[PTILoveYou]

At this stage of the game, is it really a good thing to be the bank thats most heavily exposed to mortgage debt in record amounts? I wouldnt have thought so.

Selling debt and charge interest is the most profitable business model in the world!

This video explains why the world has been on a debt binge, because the system was designed to work this way!

[Learning]

Drifting off the main topic after watching that video, which was exactly the same as half a dozen others I've seen, how would people fix the economic situation. Would anyone want to?

No political party is going to survive cutting social spending to pay off national debt.

Increase bank reserves to 100% would stop debt growth spending but kill commerce.

People are greedy. If you try to tell them not to borrow and that they can't have their luxury until they've earned it and you'll have a riot on your hands.

[Perry]

Well, I've heard there are other ways. Ways that put the government bank in the place of the private banks. And - of course - the oxy-moron of the Federal Reserve - a consortium of private banks - is that it is neither Federal nor a Reserve.