Current Events > New Zealand bans sale of homes to non-resident foreigners

(+) Yeah! (+)

https://www.bbc.com/news/world-asia-45199034

The U.S. should do something like this too.

Hell, states/cities should do stuff like this, too many "vacation home" assholes and plutocrats bringing up prices.
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Free trade bad now eh?
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the creation of 'investment property' programs in which foreign real estate investors buy up properties to let them sit empty is certainly worth pushing back against
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Don't Chinese people do this in Vancouver
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Two_Dee posted...

Don't Chinese people do this in Vancouver

SF, also.
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DragonGirlYuki posted...

Free trade bad now eh?

Instead of commenting toward some caricature in your head, you have a conversation with the people posting here?
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Two_Dee posted...

Don't Chinese people do this in Vancouver

All over the world really.

Countries need to crack down on this shit.
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Anarchy_Juiblex posted...

https://www.bbc.com/news/world-asia-45199034

The U.S. should do something like this too.

Hell, states/cities should do stuff like this, too many "vacation home" assholes and plutocrats bringing up prices.

it's hard to find a place around here :(. because of the vacation home people.
they should be building more apartments so people can afford the rent.
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Bio1590 posted...

Countries need to crack down on this s***.

rising interest rates are likely going to put it to bed for good

it was only really viable during the period in which debt was ultra-low cost to obtain; those who could get it could get an amazing deal on it and trade it for assets that grew much faster in value than the interest, essentially massive leveraging
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So they don't want expatriates?

The ban only applies to non-residents. Australians and Singaporeans are exempt because of free-trade deals.

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Metro2 posted...

So they don't want expatriates?

They don't even live here.

Vancouver is full of places that have been bought by rich Chinese people that have never stepped foot in Canada. They just end up sending their kid(s) over here to go to school or something.

That's why one of the joke names for the University of British Columbia based on its abbrevation (UBC) is "University of Beautiful Cars" and this was started (but unfortunately not continued):

http://universityofbeautifulcars.tumblr.com/
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Bio1590 posted...

Metro2 posted...

So they don't want expatriates?

They don't even live here.

Vancouver is full of places that have been bought by rich Chinese people that have never stepped foot in Canada. They just end up sending their kid(s) over here to go to school or something.

That's why one of the joke names for the University of British Columbia based on its abbrevation (UBC) is "University of Beautiful Cars" and this was started (but unfortunately not continued):

http://universityofbeautifulcars.tumblr.com/

I never noticed the expensive cars, but I never used the parking garages. The free parking area are full of older cars and a lot of manual transmission cars too. Spots are tiny so you need good skill to park there.
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DragonGirlYuki posted...

I never noticed the expensive cars, but I never used the parking garages. The free parking area are full of older cars and a lot of manual transmission cars too. Spots are tiny so you need good skill to park there.

main place youll find the expensive cars is in the no parking zones :P
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