Why the world is watching our falling house prices

House prices have been on the slide all year, amid what economists are calling a significant correction in the housing markets. At the same, interest rates have been rising rapidly as the Reserve Bank tries desperately to put a lid on inflation. International observers are now referring to the New Zealand housing market as the canary down the coal mine.     So how much worse could this become, what does this mean for first-home buyers with low equity and what happens if New Zealand slides into a recession? Today, Kelvin Davidson, the chief property economist at CoreLogic, joins Damien for a discussion about whether that canary will get a breather from the downward pressure.   Follow The Front Page on iHeartRadio or wherever you get your podcasts. You can read more about this and other stories in the New Zealand Herald, online at nzherald.co.nz, or tune in to news bulletins across the NZME network. Host: Damien VenutoEditor: Paddy FoxProducer: Shaun D WilsonExecutive Producer: Ethan SillsSee omnystudio.com/listener for privacy information.