New Zealand Passes Law to Crack Down on Foreign Home Buyers

Re:New Zealand Passes Law to Crack Down on Foreign Home Buyers by wepple on Wednesday August 15, 2018 @02:01PM (#17768247)

So the local sells to a foreign buyer and downsizes. That’s great for them. But their kids are now priced out of the market, and will never own a home but rent from someone who lives 15h flight away.

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Re:New Zealand Passes Law to Crack Down on Foreign Home Buyers by isostatic on Wednesday August 15, 2018 @04:15PM (#17769357)

Sure. Life sucks doesn't it

Fortunately there are many places that someone in NZ can buy a house.

https://www.realestate.co.nz/3379275

For example is proavly affordable on minimum wage of $32k, certainly with two incomes.

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Re:New Zealand Passes Law to Crack Down on Foreign Home Buyers by wepple on Wednesday August 15, 2018 @07:25PM (#17770625)

I’m not sure the point you’re trying to make here.

It’s a town of 1700 people, described by Wikipedia as a “gang town”. If your point is that it’s possible to buy a house in NZ, sure. But quality of life is totally a thing, no?

And even then, your example requires a $40k deposit while earning $32k, a salary which doesn’t appear to have a whole lot left over and the end of the week.

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