New Zealand scraps target for 100,000 affordable homes to handle crisis

New Zealand, facing a shortage of affordable housing, scrapped its target to build 100,000 homes in 10 years as "overly ambitious" on Wednesday and reset some policies for grappling with what it calls a crisis. Ardern's centre-left government passed laws last year that restricted many non-resident foreigners from buying existing homes in New Zealand, as part of efforts to contain house price increases and reduce high rates of homelessness.

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