New Zealand: The struggle to find a ‘decent home’

New rules to curb investment took effect this month, but the country’s human rights commission says successive governments have failed New Zealanders.

Wellington, New Zealand – Tougher rules for property investors and speculators came into force this month in New Zealand, as part of a government effort to tackle the country’s worsening housing crisis.

Under the new law, property investors will no longer be able to deduct mortgage interest from their taxable incomes

The is trying to focus on re-establishing housing’s primary role as a home rather than a financial asset and address the country’s housing shortage, soaring property prices, and homelessness.