Australian Property market implodes.The Chinese investment problem.

Some interesting statistics are discussed, with regards to price drops around Sydney, which seems to be the same model throughout the Western world. Developers selling off the drawings apartment blocks are now borrowing from Chinese investors at 24 per cent per annum, as local bank funding has dried up. Prices are in some areas dropping significantly, from the highs. The developers will go bust, because of a glut and dropping prices. All the Chinese investment money pushing the property market are locked into a falling market, how pissed are they going to be when billions of dollars disappear with the market self correcting into a supply and demand state.

Nothing to see here. Just a glimpse of failed capitalism. Did you know the Government in China doesn't tax food? No one pays taxes for food unlike the Western hemisphere. Heck you don't even need to tip in Mainland(to be specific).

www.chinahighlights.com...

Back then the government used to buy up all property to screw people over. The mafia's/gangs do this to expand their empire internally. It is just that the Chinese does it clean unlike gangs that is why there is no issue on them buying houses.

If it isn't the Chinese, it will be someone else that increases house pricing. Corporation ehm.

Prices of house will keep increasing as long as people keeping buying and moving. Everyone wants a bit more money back. That is the way of real estate unless you are that one owner of the house that died. Then the gov can set a price difference. Talk about totally broken system. It is like selling old artifacts. The older the house is, the more it cost. If the homes cost less like how you sell old used cars, people will complain and not have enough money to move to new homes.

Remember the time when rich people purchase homes and jack up the prices of the house to screw people over. I'm pretty they are doing this right now.

I love it, I hope it drops another 10%...

People told me I was an idiot for not buying 5yrs ago.. I told them - its going to drop, dont buy...
Nope , no one listened now they're selling off their UTES And flat screen TV's to cover for the negative equity

A house like this went for $500,000 AU$ back in 2012..
www.realestate.com.au...

now you could get it for $300,000 AU$ ($215000 US) - 2 minutes walk to the beach in the safest part of the world!

originally posted by: makemap
Nothing to see here. Just a glimpse of failed capitalism.

Lol there's nothing that bad about a market correction, obviously the prices couldn't keep rising like they were. The drop in prices is actually good for people trying to buy their first house, it will start rising again in a year or two.

Did you know the Government in China doesn't tax food? No one pays taxes for food unlike the Western hemisphere. Heck you don't even need to tip in Mainland(to be specific).

We don't do tips in Australia either, and we're mostly a westernized nation... and China actually has quite high tax rates, which is necessary for what they call their "socialist market economy" to function. They are now implementing some social credit system to rank people like something out of Black Mirror. If you think it's so great in China by all means move there and let us know in a year how it went.

a reply to: ChaoticOrder

Nah, Australia isn't even close to westernize. Its more of a hybrid and a mix of dangerous animals. Aussie is closer to Asia to learn from Asia than Canucks or the Yanks. Their system are pretty messed up to be honest.

a reply to: makemap

We certainly have a lot of Asian influence in our culture, but we are far closer to the "Canucks and Yanks".

Australia......
we’re bloody rooted mate

Prices need to drop to where newly married kids can afford a home for a family of their own.

Preferably based on a single income so one parent can stay home and bring up the kids instead of leaving it to strangers in schools and daycare.

a reply to: Whatsthisthen


And all that is basically done is by taking money from the greedies. If a Mother could stay at home and keep house fifty years back with todays advances it should be a lot easier. Somehow we have ended up with a fascist system where the Corporations and the government have a little club going on.

a reply to: anonentity

Yeah, I've noticed that developers and governments like to maximise profits and revenue.

It is also partly ordinary folk's fault too.

Fourth years ago a new house was small and just the basics. When children arived they shared bedrooms and you built extra rooms when you needed them.

Nowadays, young couples have to have a four bedroom, two bathroom house with home theaters walk in robes.

I read somewhere that during the second world war, men were off fighting and women picked up the factory and other jobs. Then some corporate fella looked at all the women staying home looking after the family and decided they were wasted labour. So he then set about liberating the women so they could fill jobs, earn money and spend what they earned.

Business and government once relied on immigration to fill job vacancies. Now they have maxed out the economy to the point where spending is everything and supply is "just in time".

I look at my own life and live simply and very economically. But I don't think the kids could do that any more.

originally posted by: ChaoticOrder
a reply to: makemap

We certainly have a lot of Asian influence in our culture, but we are far closer to the "Canucks and Yanks".

Especially Canucks. Aussies and Canucks are pretty damn similar in my experience.

-I'm Canadian.

originally posted by: Agit8dChop
I love it, I hope it drops another 10%...

People told me I was an idiot for not buying 5yrs ago.. I told them - its going to drop, dont buy...
Nope , no one listened now they're selling off their UTES And flat screen TV's to cover for the negative equity

A house like this went for $500,000 AU$ back in 2012..
www.realestate.com.au...

now you could get it for $300,000 AU$ ($215000 US) - 2 minutes walk to the beach in the safest part of the world!

Halls Head has to be the cheapest sea side suburb in the western world, Its unbelievable what 350k will get you here now.