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Are housing purchases checked properly (foreign review system)?

It is completely unacceptable that temporary Australian residents, especially students are allowed to buy houses in Australia.

Why should Australian citizens be forced out of home ownership due to high immigration that only lines the pockets of universities and corporations?

Furthermore it would appear that Treasury is clueless about the way in which data is captured in regards to monitoring foreign ownership of housing.

The sooner the Canberra bubble is popped the better.

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Gerard