The land expropriation bill has just been passed in parliament. What does this mean?
Our government has recently been making moves to make government land available to be given away to people who it deems are deserving of owning land, whether they have any economic value to offer the country or any asset to put up as security for a loan, or are simply unemployed and cannot find work.
This is simply a sop being offered to poor people to give them a reason to vote for the ruling party in our country; who over and over, have shown themselves to be utterly incompetent in respect of running a country.
Indications are that once this expropriation machinery starts rumbling forward in ernest, that property owners will start to panic, property values across the board will fall like a stone, owners will sell their properties at any price, just to get rid of them; and by the way, this process has already begun.
Worst of all, the banks will foreclose on bonds that fall into arrears, and property owners will no longer be in possession of their properties because they will already have been siezed and handed over to their destitute new owners.
The end result is that dispossessed property owners will no longer have a roof over their heads, will no longer own a property and will still be liable for repayment of the outstanding bond balance to the bank. Zimbabwe here we come!
Not in a million years will I ever again buy a property in this country!
Owners: Get rid of your property while you still can! – and make sure that your passport is in order.