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Affordability and Foreign Investment - What is the Correlation?

According to Bloomberg, Honolulu, Hawaii is ranked #7 in "The World's Least Affordable Housing Markets".  Auckland, New Zealand is ranked #4, and to combat its growing affordability problem the country plans to ban foreigners from buying existing homes.  New Zealand does not have extensive data on how many non-resident foreigners buy residential houses.  Previous estimates put that number as low as 2% of overall purchases.  However its government remains hopeful that the ban on non-citizen purchases will improve chances for young Kiwis to purchase their first home.


The State of Hawaii may not have the authority to ban foreign investors from purchasing property, but that hasn't stopped it from making some recommendations on how to curb it.  Housing is so critically limited and the cost of living is so high that Hawaii's population is actually shrinking.  On Oahu the 10 year forecasted additional housing demand was estimated at over 25,000 units in 2015 by DBEDT. …

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