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Canada and New Zealand both have hot housing markets, but only 1 has plan to cool things down

Canada and New Zealand both have hot housing markets, but only 1 has plan to cool things down
Don Pittis
© Mark Coote/Bloomberg
Like in Canada, the price of prime real estate in New Zealand has been soaring. But unlike in Canada, New Zealand policy-makers have decided to try to bring the market back down to earth.
The idea that Canadian residential real estate prices are rising at an unsustainable pace is no longer just a subject for Twitter rants and COVID-era chats with family. The international media are paying attention.
But while many Canadians worry, the government of New Zealand a country often likened to Canada for its soaring home prices is attempting a solution by making it harder to get a mortgage. There s little doubt Bank of Canada officials are keeping a close eye on the New Zealand experience. There are some here who say we should follow suit. ....

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