Published: 3:51 PM, Apr 12, 2022
I must admit I was quite taken aback by this announcement. But the manner in which it was reported missed the mark somewhat.
The Canadian ruling party, the Liberal Party has decided to take one of the more illiberal moves available to any country by banning foreigners from buying property. Well, that was how it was reported, foreigners will still be able to buy property if they are permanent residents, so it seems that they only want some foreigners not to buy property.
So really it is not really about economics or property prices in the end, more that probably they want to reduce the chances of rich eastern European types swanning in and buying property I imagine. Escaping the troubling issues that are sweeping parts of the less liberal areas in Europe.
I'm guessing Trudeau does not want a few thousand angry Slavs turning up in downtown Quebec.
What interests me is that the population seem to be all up for this, presumably still under the impression this is going to lower house prices. It's not and we all know it.
Popular political policies are like golden nuggets just now, it is not going to be long until this idea gets floated in other areas of the world. Politicians will see that it is a vote winner, and this will be all the rage next year. Quote me on that.
But what areas would go for it? Would one of the UK parties move for it? Initially you would laugh at the suggestion but remember this policy is being promoted by a liberal party who's leader has pure communism running in his veins.
It's a crack pot suggestion that can be easily parcelled up as one that is moral and just. And more importantly a big vote winner.
What it does show is that as an asset, property is still growing in value world wide and politicians are going the extra mile to regulate who can and cannot own it.
It is absolutely essential that we stand and resist any attempts by politicians to intervene in the right to hold and trade land. If we do not we will end up with a world where people become more and more locked out of property as more restrictions are placed on ownership.