Re:New Zealand Passes Law to Crack Down on Foreign Home Buyers
by mc32 on Wednesday August 15, 2018 @12:58PM
(#17767598)
They are not placing all blame on foreign soeculative real estate investors, but are assigning some blame, which i think is fair.
Many countries require some form of either citizenship or residence in order to qualify as a real estate buyer.
Re:New Zealand Passes Law to Crack Down on Foreign Home Buyers
by bovermyer on Wednesday August 15, 2018 @01:01PM
(#17767629)
I didn't mean to suggest that foreign speculation was without blame.
I just wanted to make it clear that that isn't the only, or even biggest, culprit in the current housing crisis.
Re:New Zealand Passes Law to Crack Down on Foreign Home Buyers
by thatjsguy on Wednesday August 15, 2018 @02:27PM
(#17768470)
How would you prevent new housing stock from being similarly bought up?
Re:New Zealand Passes Law to Crack Down on Foreign Home Buyers
by seanmcdirmid on Wednesday August 15, 2018 @01:36PM
(#17767982)
> Many countries require some form of either citizenship or residence in order to qualify as a real estate buyer.
...like China.
Re:New Zealand Passes Law to Crack Down on Foreign Home Buyers
by zorked on Wednesday August 15, 2018 @01:46PM
(#17768065)
Or Switzerland.
Re:New Zealand Passes Law to Crack Down on Foreign Home Buyers
by woolvalley on Wednesday August 15, 2018 @02:07PM
(#17768294)
And many south east asian countries!
Re:New Zealand Passes Law to Crack Down on Foreign Home Buyers
by sdinsn on Wednesday August 15, 2018 @03:19PM
(#17768887)
According to the Case-Shiller U.S. Home Price Index, house prices are almost 2x as high as Jan 2000. Is that not a significant increase to you (inflation was 1.5x during this time)? And that is an average, as urban areas have experienced fast growth.
Re:New Zealand Passes Law to Crack Down on Foreign Home Buyers
by kylestlb on Wednesday August 15, 2018 @01:05PM
(#17767684)
Are there any numbers from areas with expensive housing that detail foreign investment as a % of total housing purchases? Would be an illuminating stat.
Re:New Zealand Passes Law to Crack Down on Foreign Home Buyers
by jgibson on Wednesday August 15, 2018 @01:16PM
(#17767795)
They have a graph in the article that showed foreign ownership (not necessary as investment) that showed it at around 3% for NZ over all, with between 5-10% in popular places (Queenstown and Auckland)
Re:New Zealand Passes Law to Crack Down on Foreign Home Buyers
by user5994461 on Wednesday August 15, 2018 @01:27PM
(#17767896)
Foreign investments only go to the biggest city. It's meaningless to look at anything besides that.
Perhaps they should try reducing the red tape required to build new homes.