jaybro wrote: ↑Sat Dec 02, 2017 10:21 pm
Australia does have rules on foreign investment to protect first time Australian buyers.
Foreign investors can only buy “off the plan” so pretty much units in the city. The building industry in Sydney is booming big time there are unit blocks going up left right and centre. The people of Sydney are benefiting as there is so much work on you’d have to be an absolute bum not to be earning good coin.
If this is ‘so good’ then why by design does there need to be any restrictions in place at all?
Water is very good for humans to drink. We don’t restrict our drinking of it.
A blaise attempt to protect first hole buyers is an admission of knowing the Chinese have severely contributed to locking the locals out of the market, it’s also Australia being complicit in Chinese internal tax dodging.
Having units upon units springing up in the city is not s good thing, it’s decreasing our quality of life as shops and houses are knocked down for multi storey units, we now have some of the craziest amount of gridlock in the world and that’s not a good thing. Sustainability and balance is important, do you think Hong Kong is a city of high quality living?
jaybro wrote: ↑Sat Dec 02, 2017 10:21 pm
Tell me where else in the world an un-skilled worker can put $2K in their pocket each week ( legally of course ) ???
What jobs are unskilled people clearing 150k plus a year?
Please list them so I can apply.
jaybro wrote: ↑Sat Dec 02, 2017 10:21 pm
If the overseas investors weren’t buying up the units then no one would be so less work and money for everyone.
Please. We are a city that has prices in the top ten of the world and have been rising considerably. Most Australians have been priced out of the market. You need a high income just to buy in a faraway dodgy suburb if you were to purchase right now.
I can see why you are loving it if you were wise enough to invest ten years ago, but don’t confuse your own self interest with what’s best for the majority of people out there!
When I was in Tallinn a few weeks ago, I observed luxury 3 bedroom multi storey apartments on sale for 200k Aussie. Eugene has a nice house in Waco Texas for a similar amount. Quality of life > mortgage slavery.
Also we don’t want to simply build to employ builders. Tail doesn’t wag the dog !
jaybro wrote: ↑Sat Dec 02, 2017 10:21 pm
If you don’t agree with me Dogg listen to some of Mark Bouris’ podcasts, unless you think you’re smarter than him as well
Mark Bouris probably has financial interests in China. Agenda! Same way you have an interest in seeing prices of houses rise.
All that being said, some foreign investment is ok, but remember, China are not the Red Cross, they buy to help themselves not us. Like crimson said, foreign investment can work if its highly regulated and boundaries are set. Right now we have ridiculous situations where produce and what not grown up the road is being sold cheaper to China than here. Because when people sell us away they are doing it out of self interest and not the long term future of the people. If I had a banana farm and a chinaman offered me 50 million for it then I can’t say no. I’ve also heard on the radio a lot of horrifying in depth forecasts that I don’t remember but troubled me.
It’s not right!
A country needs to be self sufficient.