One Nation ignoramus calls for ban on foreign property buyers

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Please explain:

Senator Hanson has called for limits to foreign non-resident home ownership in Australia and will be raising the issue today, on the floor of the Senate.

According to Senator Hanson the shortage of affordable housing available for Australians can be addressed by limiting foreign non-residents to one new property and enforcing laws to ensure foreign non-residents cannot buy established housing.

“Right now many Australians feel like they are priced out of the housing market because foreign investors are being given free reign to buy up big which drives up prices,” Senator Hanson said According to the One Nation leader, in Australia there is currently no limit on the number of new dwellings which can be purchased by foreign non-residents and no way of knowing how many residential properties are owned by foreign non-residents.

“We also need to make sure laws requiring proof of identity at point of sale are not just enforced but made stronger,” Senator Hanson said.

Senator Hanson argued that foreign non-residents are seeking to buy new dwellings in ever increasing numbers and pointed to figures that showed there was a growing number of approvals being sought from the Foreign Investment Review Board.

Senator Hanson stated that she believed it was unacceptable that in some areas the percentage of new dwellings being purchased by foreign non-residents is likely to be at between 30% or 40%.

“We should be making policies and building houses so Australians have homes for themselves and their families, not so foreign investors have a home for their investments,” Senator Hanson said.

Sensible enough though limiting buyers to only new builds would be better. It works both as a policy based upon equity – that is giving local kids the chance to buy homes instead of wealthy foreigners – and as a macro-economic policy – aiding authorities seeking to restore financial stability.

Sadly, she buried it in another policy shocker:

Politicians have slammed Pauline Hanson’s suggestion autistic children be removed from mainstream classrooms to prevent other students from being held back.

Speaking in the Senate on Wednesday, Senator Hanson said parents were concerned teachers were being forced to spend too much time with autistic children at the expense of other students.

“These kids have a right to an education by all means, but if there is a number of them, these children should actually go into a special classroom, looked after and given that special attention,” she said.

“I think that we have more autistic children and yet we are not providing the special classrooms or the schools for these autistic children,” the Queensland senator said.

“It’s no good saying we’ve got to allow these kids to feel good about themselves and we don’t want to upset them and make them feel hurt.”

“We have to be realistic at times and consider the impact that is having on other children in that classroom.”

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Imagine how popular One Nation would be if it did not spout this offensive rubbish.

Pauline Hanson really is the bubble’s best friend.

About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.