February 15, 2005

Dear Sir,

I am compelled to write this to vent my extreme frustration, fear, and profound sense of loss of personal freedom that this new policy regarding sales of real estate to non- Bermudians has created. It is not a healthy example of the democratic societal philosophy we supposedly live in, and one has to imagine what further clamps on personal freedoms are yet to come under this Government.

To limit sales of Bermudian-owned property in the upper end range to Bermudian purchasers will only do the following: Many owners of properties in the higher priced end will hold off on selling, thereby creating an even more sparse market for available homes to Bermudians of this level, and the ones on the market will be higher priced because of supply and demand. Lower priced homes will still be selling, as always, to the Bermudian market, so except for perhaps an increase in the number of lower priced homes on the market being sold by Bermudians liquidating their assets in these unsure times, prices wouldn't necessarily be lower.

So, nobody wins. It is understandable, however, that checks and balances should be put in place to prevent illegal “fronting” for foreigners, but Government is throwing the baby out with the bath water, by hurting law-abiding Bermudians, most of whom have made lifelong personal sacrifices to create legal and bona fide investment opportunities for themselves and their families, all the while duly paying their land taxes.

Why not just put more scrutiny on Trust formations, rather than this Draconian approach that hurts so many Bermudians on various levels. The knee-jerk reaction is to pull up stakes now, cut your losses and invest in Costa Rica , because of what may be in store in the future may be even more dictatorial.

The philosophical, and, optimistic reaction is to look to the decision makers in this country and all persons with vested interests (i.e. Bermudians!) to come together in positive dialogue , and stop the slide down this very slippery slope.

CONFIDENCE SHAKEN

City of Hamilton

...and the other

February 11, 2005

Dear Sir,

I would like to express my appreciation to the Government of Bermuda, in particular the Hon. Mr. Horton and the Hon. Mrs. Cox , Members of Parliament, for taking the steps in securing the heritage of our people. It is about time someone found a way to prevent foreigners from owing our land! If it drives down the price, so be it!

There is no way any real estate with no land or no view, should be selling for over $1 million. The exorbitant prices are inflationary and prevent the ordinary man from owning even a one-bedroom condo. I personally read in your paper of a residence/condo being offered for sale to Bermudians and non-Bermudians from a well-known real estate agent for under $795,000. If we are to have the opportunity to own property, Bermudians should not be competing with non-Bermudians in this targeted price range. This has put undue stress on families and our social system. This is not right!

To all the realtors, let me inform you that you have made your millions in commissions, and I do expect that you will scream the loudest and demand a watered down of legislation, if you see your ‘loaf' shrinking because of greed!

Despite the propaganda of the UBP, the people of Bermuda are not stupid enough to believe that this problem just started in 1998.

I trust that this Government will not back down under pressure. We, the people elected you to serve and to protect the interest of Bermuda and her people first.

A BORN BERMUDIAN VOTER

City of Hamilton