Protectionism for a country in the 21^st Century is deemed as a bad thing.  We are encouraged to live and play on a global level playing field.  Well this is all a crock!  Some countries do and some don’t, the ones that do are at an obvious disadvantage.

So am I a hypocrite?  Based on my previous comments about doing the right thing and not judging yourself on others and letting others follow, I feel like a hypocrite.  Well I see it a bit like being in a plane with a child, the adult needs to put the mask on before helping the child.  We need to help ourselves before we can help others.

What I am getting at is Australia has just opened up our legislation for the purchasing of property by international parties.  Now virtually everyone can buy properties in Australia, Chinese buyers have increased their buying by 200% over the last 6 months.  40% of all properties purchased right now are being purchased by foreign buyers, $20 Billion in the last year. There are even stories of these properties not even being rented out.  This is driving up property and rental prices, making it virtually impossible for new domestic buyers.  Worst case scenario foreign parties should only be allowed to buy 1 property, not multiple.

Yes I am saying that we should be protecting our domestic real estate from foreign buyers, most countries do, but not Australia.  I would even go so far as to say that all real estate in Australia should be Australian owned within 25 years.  25 years is long enough that any current investors / owners would be able to on sell their properties without being financially damaged in any way.  Foreign parties would be allowed to take out long term leases on properties, just not own them.

The consequences on this would be that it would lead to a loss of investment in Australia immediately and in 25 years time.  There would be international political fallout.  The positives of this would be, more affordable property, more long term security and control over our land and its contents.  We need to protect our children’s ability to have the Great Australian Dream, their own home.

This is a matter of Australian Pride, home ownership is part of the Australian culture, it is worth protecting.

Lets ensure that our Grand Children continue to be Australians.

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