"It is the government itself that is creating the problem,"
I don't agree.
The government should have never allowed non-citizens to buy property in the first place.
Zoning is not the issue, there's plenty of space, granted, they could change that if they had to.
Massive surpluses of cash from wealthy 1%-er foreigners is the issue really.
Here's an idea: you can't have 'free trade' if one side is willing to allow de-facto slavery, corruption and externalization of things like pollution etc..
Because that means jobs are lost in 'high regulation country A' and move to 'corrupt and low regulation country B' - particularly into the pockets of their 1%-ers who can then rule their own country, and then come ton country A where surpluses are more evenly distributed and also take over and use their wealth as leverage.
No.
Just like you need certain things in order to have a common currency - you need certain things for free trade.
We understand that 'strategic dumping' and 'government subsidies' are generally not allowed in 'free trade' - but we should be aware that 'government allowing pollution' etc. - is like a form of subsidy.
There is already a trade war with China, so it would be best if the West simply added a tariff for imports that reflected these things, and certainly had capital controls. Nothing heavy, but domestic property ownership should definitely be regulated as well.
> The government should have never allowed non-citizens to buy property in the first place.
Why allow citizens to leave the country while we are at it. Lets just close all the borderds, never allow foreigners in, or locals out. That is the recipe for economic prosperity!
You are forgetting the foreigners have let their cash into nz. They gave it to homeowners, to construcion companies, etc. Those in turn spend it and reinvest it locally.
Why not let foreigners pay our politicians to make legislation - the money goes to lawyers, consultants etc. i.e. right into the economy!
For the same reason we have borders, that we don't allow foreigners to buy some kinds of assets (i.e. wireless spectrum) - or do some kind of banking, own certain kinds of companies.
I don't agree.
The government should have never allowed non-citizens to buy property in the first place.
Zoning is not the issue, there's plenty of space, granted, they could change that if they had to.
Massive surpluses of cash from wealthy 1%-er foreigners is the issue really.
Here's an idea: you can't have 'free trade' if one side is willing to allow de-facto slavery, corruption and externalization of things like pollution etc..
Because that means jobs are lost in 'high regulation country A' and move to 'corrupt and low regulation country B' - particularly into the pockets of their 1%-ers who can then rule their own country, and then come ton country A where surpluses are more evenly distributed and also take over and use their wealth as leverage.
No.
Just like you need certain things in order to have a common currency - you need certain things for free trade.
We understand that 'strategic dumping' and 'government subsidies' are generally not allowed in 'free trade' - but we should be aware that 'government allowing pollution' etc. - is like a form of subsidy.
There is already a trade war with China, so it would be best if the West simply added a tariff for imports that reflected these things, and certainly had capital controls. Nothing heavy, but domestic property ownership should definitely be regulated as well.