New Zealand stopped processing investor visas at a time when the wealthy were lining up to come up here.
The tide may well have turned against housing being a one-way bet for a generation of Kiwis, said RBNZ chief economist Paul Conway.
The government says FPAs will encourage businesses to grow profits through innovation rather than cutting wages.
Even if approved by local councils next week, construction before 2028 is unlikely, says National.
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