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. Australians alone, he said, account for about 30 per cent of foreign buyers in the New Zealand market. Home prices are increasing all over New Zealand, he said, not just where foreign buyers are active. Listen to the full interview: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.

Source: CBC News August 19, 2018 17:00 UTC