New Zealand was recently in the news due to soaring house prices (highest 20 year increase in the OECD) despite a foreign buyer ban and a nearly complete ban on new immigrants since March 2020. Logically speaking this thus means that two root causes remain:
- Not enough homes for the existing population. NZ is working on public housing to solve part of this shortage and many other countries have similar programs to encourage more construction. An even better solution would involve reforming the zoning regulations like Japan did but currently that's not very popular in the West.
- People owning second/third/etc homes which they rent out or leave vacant
Are there any countries where secondary home ownership is either entirely banned or where its very difficult?