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posted by mrpg on Thursday August 16 2018, @09:30PM   Printer-friendly
from the green-go-home dept.

New Zealand bans sales of homes to foreigners

New Zealand's parliament has banned many foreigners from buying existing homes in the country - a move aimed at making properties more affordable. The ban only applies to non-residents. Australians and Singaporeans are exempt because of free-trade deals.

New Zealand is facing a housing affordability crisis which has left home ownership out of reach for many. Low interest rates, limited housing stock and immigration have driven up prices in recent years.

[...] [Foreigners] are now banned from purchasing most types of homes - but they will be able to make limited investments in new apartments in large developments.

[...] Chinese investors have been among the biggest and most active offshore buyers of property in the New Zealand market. Also, some wealthy Americans - like Silicon Valley tech billionaire Peter Thiel - have become New Zealand citizens or have bought property in the country. Average prices in New Zealand have risen more than 60% in the past 10 years, while in Auckland - the country's largest city - they have almost doubled.


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  • (Score: 1, Troll) by Ethanol-fueled on Thursday August 16 2018, @11:51PM (2 children)

    by Ethanol-fueled (2792) on Thursday August 16 2018, @11:51PM (#722601) Homepage

    Good leadership puts its own people first, whether or not the rich foreigners driving property costs out of reach of the domestic population are Chinese. Even fucking Mexico does this with coastal property. Now it is time for America to do the same...

    ...or the next best thing, like Australia, which is to give Whites preferred immigration status.

    Personally I like the idea of allocating Mississippi to being our "foreigner containment zone." All 'dem po' folks who bought a shack for $20, 000 bucks can sell it to foreigners for millions and move to a state with a higher standard of living, and rich Chinese can have a sensible backup plan -- they're already used to eating mudbugs and having to shit in holes dug in the ground. Having half-functional electricity and being able to flush their toilet paper down the toilet, and not having their organs harvested for insulting the nation's leadership, would be well worth the humidity.

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  • (Score: 0, Flamebait) by Anonymous Coward on Friday August 17 2018, @12:11AM (1 child)

    by Anonymous Coward on Friday August 17 2018, @12:11AM (#722609)

    Again with the stupid. Give it a rest already.

    • (Score: 0) by Anonymous Coward on Friday August 17 2018, @06:08AM

      by Anonymous Coward on Friday August 17 2018, @06:08AM (#722707)

      He's proposing using real estate sales on a free market to achieve one-time wealth redistribution.

      Your only problem with it is that it's anti-capitalist/globalist, i.e. your 1%er masters will be indirectly harmed by a handful of proles rising above their station in life.