New Zealand’s newly elected government is launching an attack against foreign home ownership.
In an effort to tackle soaring property prices, the country of 4.7-million people will pass a law that seriously restricts foreigners from buying property.
The plan, as outlined by prime minister-elect Jacinda Ardern, will ban non-residents from purchasing existing homes in the hopes of curtailing skyrocketing real estate prices.
BC Greens Leader Andrew Weaver said he was pleased to see New Zealand’s minority government tackle the issue and hopes politicians in B.C. will follow suit. Here is a direct video link.
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Cory’s Chart Corner
Load MoreMany will focus the blame of market drawdowns on the tariffs and ignore the fact the SP500 (only a few weeks ago) was trading at 4 std devs above its historical mean…valuation also matters.
BREAKING: The European Union is preparing further counter measures against newly announced US tariffs of 20%, per CNBC.
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