re: New Zealand bans foreigners from buying homes in the country...decent policy imo

quote:

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That’s a preemptive move to keep the Chinese out of NZ

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The Chinese have enacted capital controls on offshore investment and their real estate portfolio around the world is barely growing now at a fraction of what it was. South Korea and Singapore are bigger players and Japan, after being burned in the 80’s, is slowly coming back.

And I remember this same argument in the 80’s when Japan was buying everything including Pebble Beach and Rockefeller Center. They crashed and sold for pennies on the dollar.