The Bryce is right: Labour's housing ban
The Bryce is right: Labour's housing ban
The Bryce is right: Labour's housing banThe new Labour-led coalition government is making moves. The govt announced Tuesday plans to amend the Overseas Investment Act (OIA) to classify residential housing as "sensitive", which will effectively ban non-resident foreigners from buying existing homes without breaching major trade agreements. The government are moving as quickly as possible, the ban should come into effect early next year, and It’s a well timed political move coinciding with the potential of Labour signing a TPP agreement late next year.
Not all are impressed with the moves. Criticism if rife of it’s effectiveness to fix the housing crisis. Mike Hosking has said its the move to make to make everyone think youre doing something. But is ths the case?
I spoke earlier with Political commentator Bryce Edwards to analyse what the ban means for Labour and this government.