this post was submitted on 09 Jul 2023
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Any reduction in foreign investors will be made up for by local ones. The issue isn't just that property can be bought by people overseas, it's that housing is a commodity at all. Ideally the only home people would own would be the one they live in, but to get there politicians would have to not be so deeply involved in the real estate game. Unfortunately for those of us who rent, or who are stuck with a mortgage we can't afford, this unsustainable housing price increase is exactly what a lot of people want.