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I think a lot of critics have already mentioned this -- the ban on foreign ownership will not help much.
There are too many loopholes that can be used to bypass the ban. Another problem is, when it happens, it is really foreign capital being used to buy the properties, not the properties being bought by foreigners. Let's say rich mommy and daddy wants to move their money off shore, and they have a PR daughter here. Bank of mommy and daddy transfers the said money to PR daughter, and boom~ Properties are bought, and the ban avoided.
Also, if I am understanding the supply problem correctly, one reason there isn't enough supply is because there is a shortage of trade workers to work in construction. If the federal gov wants to accelerate the builds, cutting red tape alone isn't good enough. They need more people working in construction.
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