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workinclasszero

(28,270 posts)
Sat Aug 11, 2018, 01:05 PM Aug 2018

New Zealand to ban foreigners from buying homes

By Charlotte Graham-McLay 11 August 2018 — 11:13am

Wellington: Foreigners face a ban on buying homes in New Zealand after a spending splurge by millionaires seeking doomsday bolt-holes crowded out local buyers and pushed up property prices.

Home purchases by tycoons such as tech billionaire Peter Thiel, the PayPal founder, and Matt Lauer, the former NBC host who lost his job after allegations of sexual misconduct, have led the New Zealand government to crack down on the trend.

The country's allure for the mega-rich planning a safe space to ride out the apocalypse has become almost a cliché in recent years. Reid Hoffman, LinkedIn co-founder, told The New Yorker last year: "Saying you're buying a house in New Zealand is kind of a wink, wink, say no more".

But since President Donald Trump's election, it has increasingly been wealthy Americans buying up doomsday bolt-holes in New Zealand who have made international headlines.


https://www.smh.com.au/world/oceania/new-zealand-to-ban-foreigners-from-buying-homes-20180811-p4zwwi.html
40 replies = new reply since forum marked as read
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New Zealand to ban foreigners from buying homes (Original Post) workinclasszero Aug 2018 OP
Good. Uber-wealthy American Trump supporters should have to stay in the USA. CottonBear Aug 2018 #1
So where will we immigrate to when things get too much worse? Initech Aug 2018 #35
"Bolt-holes?" Wtf? cwydro Aug 2018 #2
Going to ground when you get caught. You bolt and hide. nolabear Aug 2018 #5
Yes, like a weekend retreat/summer house/refuge from the madding crowd. You'd often hear it OnDoutside Aug 2018 #8
Peter Thiel owns a home there. When they're through fucking up the US with their octoberlib Aug 2018 #3
I think this a sound decision. They are protecting their own. mysteryowl Aug 2018 #4
We recently sold a townhouse in Seattle. You'd be amazed. nolabear Aug 2018 #6
I just love it when people walk in this world with awareness. mysteryowl Aug 2018 #40
So they fuck us over here, so they can ride it out over there. Baitball Blogger Aug 2018 #7
Their little minds imagine that life will just go on as normal for them. Blue_true Aug 2018 #15
That's assuming the New Zealanders don't teach them a lesson first. Baitball Blogger Aug 2018 #30
Which is the most likely outcome. People can't outrun worldwide anarchy. Blue_true Aug 2018 #33
Happens a lot in Europe where foreigners aren't allowed to buy houses in (usually) OnDoutside Aug 2018 #9
I think the rich are planning ahead workinclasszero Aug 2018 #10
New Zealand is an island with a shitload of water around it. Blue_true Aug 2018 #16
Several islands actually (2 big ones) shanny Aug 2018 #20
A lot of land will be underwater, particularly cities there. Blue_true Aug 2018 #21
I agree with your basic point shanny Aug 2018 #37
Well, I know one thing and it is only about me. Blue_true Aug 2018 #39
More than one island and in the Pacific Rim malaise Aug 2018 #22
They are idiots that are locked into a fantasy. Blue_true Aug 2018 #23
Makes no sense malaise Aug 2018 #25
NZ is a long way from the Northern Hemisphere... MicaelS Aug 2018 #32
foriegners buying real eatate, edhopper Aug 2018 #11
I remember the story of a Russian billionaire dropping $32 million Blue_true Aug 2018 #17
The mega-rich are clearly taking the coming climate catastrophe seriously NickB79 Aug 2018 #12
Really, when the shit hits the fan. They will be lucky if they are among the first to die. nt Blue_true Aug 2018 #18
Hope they plan to stay in their bolt holes. Blue_true Aug 2018 #13
Smart move Devil Child Aug 2018 #14
So all of society collapses around them. Blue_true Aug 2018 #19
How Silicon Valley's richest plan to save themselves after the apocalypse: appalachiablue Aug 2018 #34
The truth is that ONLY ONE thing has to fail with their security guard master plan and they are Blue_true Aug 2018 #38
Can you blame them? DFW Aug 2018 #24
Realistically, I expect a lot of people have been doing property searches the past 1-1/2 years. dameatball Aug 2018 #26
There will be no place for anyone to hide or live when the ruination of this planet democratisphere Aug 2018 #27
Not for long anyway workinclasszero Aug 2018 #28
NZs 4600 man army means that NZ will be Chinese if the American system breaks down. braddy Aug 2018 #29
Well there goes my plan JonLP24 Aug 2018 #31
Mine too! A HERETIC I AM Aug 2018 #36

CottonBear

(21,596 posts)
1. Good. Uber-wealthy American Trump supporters should have to stay in the USA.
Sat Aug 11, 2018, 01:34 PM
Aug 2018

Why do they even think that New Zealanders would want them in the country.

nolabear

(41,991 posts)
5. Going to ground when you get caught. You bolt and hide.
Sat Aug 11, 2018, 02:04 PM
Aug 2018

I can see their point in not wanting to become Argentina, so to speak.

OnDoutside

(19,969 posts)
8. Yes, like a weekend retreat/summer house/refuge from the madding crowd. You'd often hear it
Sat Aug 11, 2018, 02:27 PM
Aug 2018

on UK TV, where Londoners might have a bolt-hole in the Cotswolds etc.

octoberlib

(14,971 posts)
3. Peter Thiel owns a home there. When they're through fucking up the US with their
Sat Aug 11, 2018, 01:52 PM
Aug 2018

shitty policies they want a nice place to escape to. The New Zealanders don't want them influencing politicians over there, I imagine.

mysteryowl

(7,396 posts)
4. I think this a sound decision. They are protecting their own.
Sat Aug 11, 2018, 02:03 PM
Aug 2018
Chinese residents are the most common property-buying foreigners, followed by those from Australia, Britain, and Hong Kong. But since President Donald Trump's election, it has increasingly been wealthy Americans buying up doomsday bolt-holes in New Zealand who have made international headlines.



nolabear

(41,991 posts)
6. We recently sold a townhouse in Seattle. You'd be amazed.
Sat Aug 11, 2018, 02:08 PM
Aug 2018

We had cash offers from obvious foreign investors. Fortunately a really nice young couple could afford it too, and we could pick them. They were Chinese but just people looking for a home. Made me feel better not contributing to what’s now a real issue here.

Blue_true

(31,261 posts)
15. Their little minds imagine that life will just go on as normal for them.
Sat Aug 11, 2018, 04:52 PM
Aug 2018

And that once the shit stops flying here, they can just fly in and land their private jets and get on with life as normal. Well, I have something to explain to those assholes, but I don't feel like writing a book. Suffice to say that their landing private jets just might as well be their coffins, because the welcoming committee is going to be hellish.

Blue_true

(31,261 posts)
33. Which is the most likely outcome. People can't outrun worldwide anarchy.
Sat Aug 11, 2018, 08:26 PM
Aug 2018

The world came close to getting a taste of worldwide anarchy in 2008, but then President Obama was elected and pulled it back from the brink.

OnDoutside

(19,969 posts)
9. Happens a lot in Europe where foreigners aren't allowed to buy houses in (usually)
Sat Aug 11, 2018, 02:32 PM
Aug 2018

picturesque locations. IIRC, Denmark had rules against Germans buying summer houses in particular areas. Something similar in Norway. In the UK & Ireland, in coastal/scenic/tourist areas, you won't get planning permission to build unless you are from the area because it was pricing locals out of the market.

 

workinclasszero

(28,270 posts)
10. I think the rich are planning ahead
Sat Aug 11, 2018, 03:41 PM
Aug 2018

Is NZ supposed to be safe when global climate change really starts hitting hard in a decade or two?

Blue_true

(31,261 posts)
16. New Zealand is an island with a shitload of water around it.
Sat Aug 11, 2018, 04:54 PM
Aug 2018

I will give you time to rephrase your question.

 

shanny

(6,709 posts)
20. Several islands actually (2 big ones)
Sat Aug 11, 2018, 05:05 PM
Aug 2018

with the highest elevation in excess of 12,000 ft.

I don't think it will sink.

Blue_true

(31,261 posts)
21. A lot of land will be underwater, particularly cities there.
Sat Aug 11, 2018, 05:12 PM
Aug 2018

Ever tried living on a 12,000 foot mountain? Hell, ever tried living on a 2,000 foot mountain in many places during winter. Try it, maybe it would work out, though I doubt it.

Everything has a price. People trying to run away from the societies that they fail to properly support will find that there is nowhere to hide.

 

shanny

(6,709 posts)
37. I agree with your basic point
Sat Aug 11, 2018, 11:59 PM
Aug 2018

which is that the rich stupidly think they can escape from what they have wrought...and they can't.

but otoh, yeah, NZ is a better bolt hole than most, and may well retain the ability to sustain human life long after less isolated locales would (fyi, there is a lot of space between sea level and 12,000 ft. It is not either/or). If I had my druthers, that is likely where I would go. Its beauty alone is a recommendation and solace to boot. Since I don't have that ability, I'm likely headed elsewhere. Luckily for me, I have no children to worry about. It is a minor consolation, but a real one.

As for the difficulty of living on a "2,000 foot mountain in many places during the winter"---jaysus H keeeeRIST: I've spent my life 3x higher than that, and not in a maritime climate...which given the small size of the NZ islands qualifies as such. Grew most of our own food, fished for more (don't hunt, never have), cut wood for warmth...sheeeeit, that was SOP and a pleasure, not hardship. It is laughable to me to think that the rich think they can escape to a Nice Place and everything will be fine. Also laughable to think you know eff all about me, or mine, or what we may be capable of.

Blue_true

(31,261 posts)
39. Well, I know one thing and it is only about me.
Sun Aug 12, 2018, 09:56 AM
Aug 2018

If the world go to hell and fall into anarchy, if I have any life in me, I hope that it ends fast. I won't kill myself, but if I have no food or water, I would hope to die from the outcome as fast as possible.

The ultra rich people may survive longer but their death almost surely would be violent and they likely will be tortured before because their killers could.

BTW, there are some high elevations where people can survive year round. But I tell you one thing, compared to all such places there are not many, and I promise you that a lot of the world will find those places, so there will be no solace, just a minute by minute fight for survival. So I repeat myself and you likely agree with the gist, it is much smarter for ultra rich and other rich people and all people that can to keep society working halfway properly, or better close to utopia for everyone - if everyone try to hoard, pretty much everyone dies.

malaise

(269,157 posts)
22. More than one island and in the Pacific Rim
Sat Aug 11, 2018, 05:17 PM
Aug 2018

My question is why would folks running from doomsday head to a region that had 15 quakes in just the last 24 hours

Blue_true

(31,261 posts)
23. They are idiots that are locked into a fantasy.
Sat Aug 11, 2018, 05:23 PM
Aug 2018

Even people that are smart in some ways can be idiots in other ways.

MicaelS

(8,747 posts)
32. NZ is a long way from the Northern Hemisphere...
Sat Aug 11, 2018, 07:45 PM
Aug 2018

So in the event of a nuclear exchange, the radiation would stay in the North, and not cross the Equator.

Plus NZ has a low population density, and is 90 percent white. The other 10 percent is Polynesian. No Blacks.

edhopper

(33,615 posts)
11. foriegners buying real eatate,
Sat Aug 11, 2018, 03:53 PM
Aug 2018

mainly Russians and Chinese laundering their money, is the main business model of Trump. He would be bankrupt without that.
But NY and many other American cities would have more affordable housing without this shit.
Wish we could do that here. But the GOP blocked a law that would just identify the owners (instead of a shell corp)
So odds of us doing something like this is nil.

Blue_true

(31,261 posts)
17. I remember the story of a Russian billionaire dropping $32 million
Sat Aug 11, 2018, 04:58 PM
Aug 2018

to buy a penthouse apartment so that his incoming freshman daughter could have a place to live while she went to college in NYC. Was freaking insane, but what is $32 million to a multi billionaire who likely stole his money?

NickB79

(19,258 posts)
12. The mega-rich are clearly taking the coming climate catastrophe seriously
Sat Aug 11, 2018, 04:19 PM
Aug 2018
https://www.rollingstone.com/politics/politics-features/hothouse-earth-climate-change-709470/

While the politicians and super-wealthy placate the masses by sowing doubt about climate change, they're fully aware of how fucked we are as a civilization, and they're preparing accordingly. Bolt-holes in isolated parts of the globe, underground bunkers, private islands, even Musk's talk of cities on Mars.

If you don't think that climate change is about to steamroll over our species, start paying more attention.

Blue_true

(31,261 posts)
13. Hope they plan to stay in their bolt holes.
Sat Aug 11, 2018, 04:44 PM
Aug 2018

During the meantime, those assholes may want to look up what doomsday means. Could they be better off just fucking paying a little more in taxes to keep society sane?

 

Devil Child

(2,728 posts)
14. Smart move
Sat Aug 11, 2018, 04:52 PM
Aug 2018

Rich wanting to build their private playgrounds with enough walls and armed guards to keep the rabble out.

Blue_true

(31,261 posts)
19. So all of society collapses around them.
Sat Aug 11, 2018, 05:03 PM
Aug 2018

No local cops, no FBI, no one to hold their armed guards accountable. Do you mind explaining to me what would keep the armed guards from blowing their fucking brains out and taking whatever they want?

appalachiablue

(41,170 posts)
34. How Silicon Valley's richest plan to save themselves after the apocalypse:
Sat Aug 11, 2018, 09:02 PM
Aug 2018

~ As for their security guards, they discuss having them wear 'disciplinary collars,' or using robots if developed in time.

"Silicon Valley’s elite are hatching plans to escape disaster – and when it comes, they’ll leave the rest of us behind," Douglas Rushkoff for Medium, The Guardian, Tue 24 Jul 2018.
https://www.theguardian.com/technology/2018/jul/23/tech-industry-wealth-futurism-transhumanism-singularity

Last year, I got invited to a super-deluxe private resort to deliver a keynote speech to what I assumed would be a hundred or so investment bankers. It was by far the largest fee I had ever been offered for a talk – about half my annual professor’s salary – all to deliver some insight on the subject of “the future of technology”...
After I arrived, I was ushered into what I thought was the green room. But instead of being wired with a microphone or taken to a stage, I just sat there at a plain round table as my audience was brought to me: five super-wealthy guys – yes, all men – from the upper echelon of the hedge fund world. After a bit of small talk, I realized they had no interest in the information I had prepared about the future of technology. They had come with questions of their own.

Which region will be less affected by the coming climate crisis: New Zealand or Alaska? Is Google really building Ray Kurzweil a home for his brain, and will his consciousness live through the transition, or will it die and be reborn as a whole new one? Finally, the CEO of a brokerage house explained that he had nearly completed building his own underground bunker system and asked: “How do I maintain authority over my security force after the Event?”
The Event. That was their euphemism for the environmental collapse, social unrest, nuclear explosion, unstoppable virus, or Mr Robot hack that takes everything down.

This single question occupied us for the rest of the hour. They knew armed guards would be required to protect their compounds from the angry mobs. But how would they pay the guards once money was worthless? What would stop the guards from choosing their own leader? The billionaires considered using special combination locks on the food supply that only they knew. Or making guards wear disciplinary collars of some kind in return for their survival. Or maybe building robots to serve as guards and workers – if that technology could be developed in time.

That’s when it hit me: at least as far as these gentlemen were concerned, this was a talk about the future of technology. Taking their cue from Elon Musk colonizing Mars, Peter Thiel reversing the ageing process, or Sam Altman and Ray Kurzweil uploading their minds into supercomputers, they were preparing for a digital future that had a whole lot less to do with making the world a better place than it did with transcending the human condition altogether and insulating themselves from a very real and present danger of climate change, rising sea levels, mass migrations, global pandemics, nativist panic, and resource depletion. For them, the future of technology is really about just one thing: escape...

It’s a reduction of human evolution to a video game that someone wins by finding the escape hatch and then letting a few of his BFFs come along for the ride. Will it be Musk, Bezos, Thiel … Zuckerberg? These billionaires are the presumptive winners of the digital economy – the same survival-of-the-fittest business landscape that’s fueling most of this speculation to begin with. Of course, it wasn’t always this way. There was a brief moment, in the early 1990s, when the digital future felt open-ended and up for our invention. Technology was becoming a playground for the counterculture, who saw in it the opportunity to create a more inclusive, distributed, and pro-human future. - More...
https://www.theguardian.com/technology/2018/jul/23/tech-industry-wealth-futurism-transhumanism-singularity

Blue_true

(31,261 posts)
38. The truth is that ONLY ONE thing has to fail with their security guard master plan and they are
Sun Aug 12, 2018, 09:41 AM
Aug 2018

screwed. Again, the wisest course is to work to build a more vibrant society, but those morons just can't get their smart minds to that conclusion.

DFW

(54,436 posts)
24. Can you blame them?
Sat Aug 11, 2018, 05:27 PM
Aug 2018

I mean shady Russian mafiosi and Chinese industrialists are one thing, but Matt Lauer? One has to draw the line somewhere, right?

dameatball

(7,399 posts)
26. Realistically, I expect a lot of people have been doing property searches the past 1-1/2 years.
Sat Aug 11, 2018, 05:38 PM
Aug 2018

I don't plan on going anywhere, but must admit I have looked.

democratisphere

(17,235 posts)
27. There will be no place for anyone to hide or live when the ruination of this planet
Sat Aug 11, 2018, 05:48 PM
Aug 2018

has been completed by the humans. Planet Earth and Mother Nature will have their justice. Not even Matt and his fellow wealthiest criminals will have sanctuaries.

A HERETIC I AM

(24,376 posts)
36. Mine too!
Sat Aug 11, 2018, 09:27 PM
Aug 2018

When.....(!) I win the Powerball, I was thinking of the South Island.

Google Street View is totally cool and you can tour the rolling countryside using it;


Near Roxburgh, South Island;


https://goo.gl/maps/8XRbo8b2Vcn

One of my favorite areas I've seen by using this feature, North and East of Invercargill -

https://goo.gl/maps/ZQgaazTTTM62

Gorgeous pastureland

(If you haven't used Street View, you can use your mouse to move up and down the roadway, rotate the shot and zoom out to see the area from above)

I lived in Alice Springs, NT Australia in the 70's and visited the Gold Coast of Queensland several times in the 90's. If I can't buy land in New Zealand, I'll just go for a property in Queensland!

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