IT’S interesting to note that the Shire is establishing a housing affordability group at about the same time they are preparing ratepayers for losses due to investing through overseas financial institutions.

Margaret River property has long been recognised as an ideal haven for investment monies yet the Shire has managed to lose a huge amount of ratepayers’ money by investing through middle men from overseas in what is most likely overseas real estate.

Surely it is far more transparent, easier to keep a judicious eye on and more likely to return a profit in investing in local property.

With a little imagination, it should also be possible to address some of the affordable housing issues at the same time.

At least then the associated fees could stay in the local community where they belong, and ratepayers could walk past their council’s investment and see it–the same cannot be said of overseas’ financial magician’s pieces of paper or electronic records and balances.