While New Zealand’s just-passed foreign buyer ban is getting a positive reception from some in B.C., an economist in the southern hemisphere is calling it misguided.
On Wednesday, New Zealand banned most foreigners from buying most types of housing in that country, where affordability has become a struggle.
B.C. Green Party leader Andrew Weaver wants the province to look at a similar ban, but Auckland, New Zealand-based economist Shamubeel Eaqub calls it “a rushed bit of policy, and not very good.”
“Be very careful what you wish for because public policy quite often is complicated and has unintended consequences,” Eaqub told
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