Dumped apartment projects 'groundhog day' to global financial crisis (NZ)

``The collapse of property developments in Auckland as banks refuse to fund projects due to blowouts in construction and labour costs, is "almost groundhog day" to the run-up of the global financial crisis in 2007/2008 says John Kensington, the author of KPMG's Financial Institutions Performance Survey... Speaking to BusinessDesk, Kensington said exactly the same thing was happening at the start of the GFC.''