I’m not quite sure what to think of this situation:
New Zealand is set to ban foreigners buying homes after a spate of millionaires creating luxury doomsday bunkers has apparently pushed property prices up for local buyers.
It comes after purchases by PayPal founder Peter Thiel and disgraced former NBC host Matt Lauer, who lost his job after allegations of sexual misconduct.
The country’s centre-left government, led by Prime Minister Jacinda Ardern, has blamed the wealthy expats for their major housing crisis with homelessness rates being among the highest in the developed world.
Yet David Parker, Minister for Trade and Economic Development, said the bill, for which he is responsible, isn’t only about house prices.
‘In this world of concentrating wealth, we don’t want this coterie of ultra-wealthy people overseas being able to outbid successful New Zealanders for what is our birthright, not theirs,’ he said.
From a free market perspective, it’s not right; but on the other hand, seeing how Californians have done pretty much the same thing Over Here when fleeing their home state for other, less burdensome ones, I can sort of see the Kiwis’ point. It’s also happened in Britishland, where wealthy Londoners have bought themselves country pieds-à-terre and have driven up real estate prices beyond the reach of the locals.
Here in north Texas, we’re facing a similar situation with regard to both Californians and Yankees moving into the area — real estate prices are constantly increasing — but there’s so much land around here for expansion that we haven’t yet reached that stage of feeling “trapped”, so to speak, by soaring prices. That’s not the case in tiny Britain and New Zealand, of course and as I said, I can sympathize with the KiwiGov for wanting to at least arrest the phenomenon somewhat.
That said, New Zealand is prone to having some humdinger earthquakes from time to time, so the rich farts’ “doomsday bunkers” may ironically not be quite the secure bolt-holes their owners believe them to be.
This has also become a problem (and has been for a decade or more) in Canada, where Chinese ex-pats (initially from Hong Kong, but now also the Mainland) have driven up the market for high-end housing in the Vancouver area of B.C.
Nice people, the Kiwis: but too trusting, and innocent in the ways of the World. But having to deal with the possums introduced from Australia; and the stoats brought in from England, they are aware of foreign creatures, and alert to the issue that most rich foreign bastards do not try to ‘fit-in’ to their adopted society.
The RFB (mainly mainland Chinese) have pushed up house prices in the 3 largest Aussie cities – are crap drivers – avoid eye contact and smiling – do not know how to form a queue – and spit on the footpath.
As for the Merkans, they are not too bad once they stop talking. But there should be a compulsory driving test, preferably in a small Toyota with a manual gearbox, or a MkII Land Rover. Fail that, and you go home.
Sorry friends – I should not post when bilious/splenetic/liverish/distempered.
“…alert to the issue that most rich foreign bastards do not try to ‘fit-in’ to their adopted society.”
“Rich” has NOTHING to do with the problem. ALL immigrants will be this way. Virtually none will ever make any real effort to change to fit the new group. This is why you want them to come from a culture that is very close to yours.
The idiots here in the US with their “melting pot” fantasy have screwed up the nation, as virtually none of the post ’65 immigrants are compatible with our culture.
The three cultures that are the least compatible as immigrants into any Western Civ nation?
Islamic
Latin American (Mexican, etc)
Chinese
“I should not post when bilious/splenetic/liverish/distempered.”
On the contrary, those are the comments I like the most. Hell, if I adopted that policy, there’d be only about two posts a year on this website.
Keep ’em coming, Monty (and everyone else): the more intemperate, the better.
agree about the driving test
you really think you sound “bilious/splenetic/liverish/distempered.”
WOW!
to me that sounds quite even-tempered.
Can’t say I can blame them for wanting to keep the rich lefty yanks out.
They’re fine at first- enjoying the local culture and posting about how they’re now a Kiwi.
Then, they want some small changes and have a few minor complaints. Does rugby have to be so violent (and can’t they just play soccer instead)? Do you have to eat those poor little lambs? Don’t you think that baked beans are kind of gross for breakfast? Isn’t the Haka racist cultural appropriation?
If they make the ghastly mistake of giving them the vote, they’ll make things even worse.
I don’t mind people coming ’round and buying up property. But it’s when they bring their socialist ideas with them that things start going south.
I’m from Northern Idaho. We haven’t been Kalifornicated as bad as Colorado, but we’re getting there. I’m almost for political re-education of all Californians moving elsewhere.
Of late I’ve been of the opinion that anyone moving from one State or another here in the US should not be allowed to vote in either local, state, or federal elections for a period of two presidential election cycles.
Those companies that are relocating to the DFW area and are bringing 1,000s of employees in Texas are doing more then driving real estate prices up. I’ve read 10,000/month are moving into the Metroplex.
You can bet your last donut that they’re not all down with the politics of Texas. Sure as hell, they’re going to start bitching about things that are going to require more government.
I saw it happen in CO. Once a solid red state, it’s on the verge of replacing the far left Gov., Hickenlooper, with an even wackier far left Jared Polis.
Don’t forget, it wasn’t too long ago that Texas was a solid dem state. In my best Charlton Heston voice from the beginning of Armageddon, “It’s happened before, it can happen again.”