There's been a lot of discussion about the housing crisis and we may have found a solution - in Canada.
Vancouver is looking a lot like Auckland at the moment. Ridiculous house prices where locals can't afford to buy and they're blaming foreign buyers.
But a new tax has been introduced in Vancouver this month where foreign nationals are hit with a 15 percent transfer tax when they buy a house.
In the past 15 years, house prices have increased by 140 percent and a detached home now costs more than half-a-million dollars. But the median household income is CA$76,000.
Real estate agents disagree and believe no one wins with the new tax but could this work in New Zealand?
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