Why Auckland/NZ's Economy Sucks?

There are two useful leverage that a modern government could do to help domestic economy:

• Lower exchange rate.
• Lower interest rate.

Exchange rate would help export, in NZ's case, it is about Dairy business. Interest rate would help domestic investment, in NZ's case, it would be many different business.

However, in realities, when exchange rate goes down, foreign buyers will rush to the country and buy properties!

When interest rate goes down, domestic speculators will rush to the bank and borrow money to buy properties!!

A lot of money has beensucks by the property market! 

These leverage won't help the economy at all, but push the property market even high, and bring more risks to the economy.

That's why Auckland/NZ's economy sucks.