New Zealand's PM Cuts Immigration to Deflate Nation's Housing Bubble and Raise Wages
6:27 am EDT
The island nation of New Zealand is now facing a real estate bubble caused by businesses' demands for more immigrant workers, home buyers, and overall consumers. Amazingly, New Zealand's Prime Minister, Jacinda Ardern, has had the courage to address the nation's housing affordability crisis at its root causes, uncontrolled mass immigration and investor schemes to exploit them.
Prime Minister Ardern recently told a major NZ radio broadcast network, "We've long pointed to the fact,
[an economic] growth strategy that is solely built around [the rising] housing market and immigration [inflows] is not a sustainable long-term strategy." The PM was backed up by members of her cabinet, one stating, "The pressure we have seen on housing and infrastructure in recent years means