MacroBusiness Access Subscriber Only Content at 10:30 am on December 21, 2020 | 25 comments During the Global Financial Crisis (GFC), the Rudd Government relaxed foreign ownership rules to make it easier for overseas buyers to purchase Australian property. This measure, which was the antithesis of a housing affordability policy, was justified on the grounds that it would support the property market and prevent a downturn. We are experiencing similar shenanigans with the COVID-19 pandemic, with Australia’s governments offering foreign home buyers up to $50,000 in subsidies to purchase a new ...