New Zealand to ban non-residents from buying homes. Canada next?

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.