BNZ chief executive Anthony Healy has backed away from controversial comments made by his chief economist.

Tony Alexander sent a column out to subscribers last week in which he said young people should take some tips from the older generations if they want to own a house.

He said young people wanting a house should buy a “dunger or even a meth house to strip, and do it up”. “Basically be prepared to do what the Boomers did in many instances,” he said.

“Start out in a desolate new suburb of clay soil far from work, do up a piece of shite, or build and live in what will become your garage whilst building the rest of the house around you in the following few years.

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