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Why More Countries Are Banning Foreigners From Buying Real Estate

Canada has become the most recent country to impose restrictions on non-residents buying real estate, arguing that wealthy investors from other countries are pricing out would-be local homeowners. But is singling out foreigners the best way to face a troubled housing market?

PARIS — It’s easy to forget that soon after the outbreak of COVID-19, many real estate experts were forecasting that housing prices could face a once-in-generation drop. The logic was that a shrinking pandemic economy would combine with people moving out of cities to push costs down in a lasting way.

Ultimately, in most places, the opposite has happened. Home prices in the U.S., Canada, Britain, Germany, Australia and New Zealand rose between 25% and 50% since the outbreak of COVID-19.

This explosion was driven by a number of factors, including low interest rates, supply chain issues in construction and shortages in available properties caused in part by investors buying up large swathes of housing stock.

Yet some see another culprit deserving of particular attention: foreign buyers.

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This Happened—December 26: The Mother Of All Tsunamis

In 2004, a 9.1 earthquake struck off the coast of Sumatra in Indonesia, triggering a tsunami and series of tidal waves that became one of worst natural disasters in recorded history

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No Less Than Monks? Buddhist Nuns Seek Gender Equality

The Buddha's "Eight Heavy Rules" included a stipulation that placed Buddhist nuns under the supervision of monks, which have undermined women’s status in the ancient religion.

In recent years, many Buddhist nuns have taken on leadership roles that require either ordination status or academic degrees, all of which was quite unheard of in Buddhist monastic traditions in the past. However, this change has also met with much resistance, as traditionally Buddhism has allowed only men to serve in these roles.

The early Pali Vinaya texts in the Buddhist canon recount how Buddha thrice rejected the request of his foster mother, Mahaprajapati, to be ordained, before his disciple, Ananda, persuaded him to accept women into the monastic body.

Ananda had to make two arguments for his case: an emotional one – that Mahaprajapati had been kind to the Buddha and raised him – and a logical one – that women, too, had the potential to become enlightened.

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Russia Space Blast Endangers Astronauts, Belarus Border Clashes, Leo’s Beach

👋 ሰላም!*

Welcome to Tuesday, where Russia is under fire for blowing up a satellite in space, clashes erupt at the Poland-Belarus border and Leo's Beach opens again. Courtesy of German daily Die Welt, we also look at the reasons behind the major discrepancies in COVID-19 vaccination rates across Europe.

[*Selam, Amharic - Ethiopia]

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The Latest: 50 Dead In Myanmar, Merkel's Defeat, Beyonce's Crowning

Welcome to Monday, where Myanmar's death toll keeps rising, more countries suspend AstraZeneca vaccine and Beyoncé makes Grammy history. Le Monde takes us to northern Morocco where the closure of the border with the Spanish enclave of Ceuta has led to the collapse of an entire ecosystem.

• Myanmar's deadliest day: Myanmar's junta imposed martial law Monday across more districts of the capital city Yangon following the deadliest day of the protests since the coup began, with some 50 fatalities.

• More AstraZeneca doubts: Ireland and the Netherlands become the latest countries to suspend the use of the AstraZeneca vaccine over possible side effect concerns, even as a new UK study says the jab does not cause blood clots.

Merkel's party suffers big losses: German Chancellor Angela Merkel's CDU party has suffered clear defeats in two key regional elections, as the Green Party and the center-left SPD perform well ahead of national elections in September to pick Merkel's successor.

• Danone CEO forced out: Emmanuel Faber, an unorthodox corporate chief, has been ousted from his positions as Danone's CEO and chairman of the board under pressure from shareholders amid decreasing sales at the French food giant.

Sandstorm hits Beijing: China's capital is choking on yellow dust and sand as the worst sandstorm in a decade sweeps over the city.

Marvelous Marvin Hagler dies: U.S. boxing legend Marvin Hagler died "unexpectedly" Saturday at his home in New Hampshire at age 66.

Beyoncé"s Grammy record: U.S. singer Beyoncé sets a new record at the Grammy Awards with a 28th win, making her the most-awarded woman in the event's history, overtaking country singer Alison Krauss.

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Bertrand Hauger

Nailing The Thai Dance

In the Thai capital, I remember being treated to a lavish meal involving a variety of authentic Thai dishes, all the while watching a traditional dance performance. Here, the famous — not to mention peculiar — "fingernail dance."

Niko Kappel

Ready For Cricket Flour? Ethics And Economics Of Insects As Food Commodity

A Czech entrepreneur is ready to mass-produce insects and turn them into a marketable, protein-rich food staple. Now he just needs buyers.

CHIANG MAI — How do 400 million chirping crickets sound in a huge hall? "Very loud," says Radek Husek, laughing. "It's just deafening right now."

The 25-year-old Czech man is opening the world's largest cricket farm in Chiang Mai, Thailand. Radek's company, Cricket Lab, uses the critters to produce a flour with which it wants to revolutionize the food market.

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Kannikar Petchkaew

Thailand's Lessons To Ease Deadly Crackdown In Philippines

BANGKOK — Luzviminda Siapo is telling me about the day her 19-year-old son was killed — that was just seven months ago.

He was dragged from his home by 14 masked men and shot in the head twice. Witnesses say he was ordered to run for his life before being shot. "He just couldn't run, he had club feet," Luzviminda told me.

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Kannikar Petchkaew

In Thailand, Migrant Workers From Myanmar Find Common Ground

Refugees in the border town of Mae Sod are uniting across ethnic lines to defend their rights against unscrupulous employers and Thai authorities keen to send them back.

MAE SOD — Moe Swe was one of the hundreds of thousands of students who, in 1988, took to the streets of Yangon, Myanmar hoping to end three decades of military rule. But the military met their protest with guns. The movement was quickly crushed. Many were killed. Others survived but had to flee.

Like so many of his country's refugees, Moe Swe ran to Thailand, where he began as an unregistered migrant worker in factories and on construction sites. Conditions were poor. He often worked without pay. And with no proper housing, he lived in a shelter that was often targeted by immigration and army officers. To avoid arrest or deportation, he had to bribe officials.

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Bertrand Hauger

Heavily Heavenly

Nirvana comes at a price — and a weight: 5.5 tons of gold, to be more precise, in the case of the Golden Buddha, in Bangkok's Wat Traimit temple.

Kannikar Petchkaew

Three Years After Coup, No End In Sight For Thailand's Military Rule

BANGKOK — Three years ago, on May 22, 2014, members of parliament gathered to find a solution to Thailand's political crisis. But the politicians were swiftly captured by the army, and sent to military camps.

The country's democratically elected government was overthrown in a military coup, and the coup's leader, General Prayut Chan-o-cha, declared that military rule was necessary to put a lid on escalating political turmoil before it boiled over.

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Gilded Guardian

Behold this mighty Kinnari statue, half-human and half-bird, keeping an eye on Bangkok"s holy Wat Phra Kaew temple.

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