The New Zealand government is banning foreigners from buying homes. But people aren't sure it'll have that big an effect.
What it means: House prices in New Zealand have doubled in the last decade, with soaring rents and not enough properties on the market. PM Jacinda Ardern said she'd tackle this problem, and has made her first move banning foreigners from buying houses.
The thing is, just 3% of homes in NZ are owned by foreigners. They tend to be beautiful beachfront properties bought by billionaires – a few theories as to why are that it's a good 'bolt-hole' to hide in for when the revolution against inequality comes, or indeed the inevitable apocalypse (seriously).