NZ TradeMin: Foreign home ownership ban won't cause price collapse

New Zealand Trade Minister David Parker crossed the wires on Wednesday, commenting on New Zealand’s proposal to ban foreigners from buying existing homes.

Key Quotes via Reuters:

“It’s not going to collapse house prices and it’s true that this was more of a problem two years ago.”

“If you don’t do it now, you can never do it. Because if TPP is entered into, New Zealand will have lost the policy space to protect the New Zealand housing market for New Zealanders.”