6 ms·

House prices won't go down in Australia. There's an infinite supply of corrupt Chinese cash that needs to be laundered, and every Australian is entitled to sell

House prices won't go down in Australia. There's an infinite supply of corrupt Chinese cash that needs to be laundered, and every Australian is entitled to sell their piece of Australia to get their fair share. Ha ha downvotes from those with a vested interest in getting those sweet sweet Chinese dollars.

chris_wot 9y ago
I suspect you are being downvoted because of your simplistic worldview.
- hguhghuff 9y ago
  Those who hope for high house prices downvote - they know their paper wealth depends on the Chinese keeping house prices propped high. Those who feel Australian society ruined by the housing obsession vote back up. Nice and simple.
  - chris_wot 9y ago
    Those who think that Chinese investors are only one part of an incredibly complex issue don't vote you up or down.
  - freeloop3 9y ago
    I can't downvote, but I hope for high house prices. What do I do?
    - hguhghuff 9y ago
      You look into you heart and know that we're selling everything valuable in Australia to China. Our houses, our farmland, our infrastructure, our natural resources. Everything must go. That's not living, it's not a society, it's not a future for our children, it's just self interest and greed. If you have integrity then you stand for what's right, if, like half Australia, you depend on this corrupt system, then you keep nice and quiet.
      - pm 9y ago
        I would agree with the "simplistic view" comment, except for the fact that I live here and have seen it happening for at least the last decade. Foreign investors are literally buying up streets of houses, without regard to the price; Chinese companies are buying up as much farmland as they can; Adani is trying to mine as much coal with no regard to the environment while getting billions in Government assistance; and don't get me started on all the Chinese buying up as much baby formula as they can and sending it back home to their relatives. There's a difference between immigrating to a country because you want to live there, and immigrating to pump it for its resources until it runs dry.
Arnt 9y ago
I think you mean "the Chinese authorities cannot possibly get a list of Australian property owners and jail a few thousand of the ones that can't explain the origin of their money".
- hguhghuff 9y ago
  No, I mean that there is on onus in Australian law to prove other forms of investment are not from criminal origin, but no such onus on real estate. That's because no one wants to look at the fact that our housing boom is driven by the proceeds of crime on a gargantuan scale.
  - Arnt 9y ago
    Oh, I see. You're talking about a giant immigration wave from China. I thought you had in mind people who were subject to Chinese law and could be arrested by Chinese police.
    - hguhghuff 9y ago
      No, that would be racist. I object only to real estate sales to people who are not permanent residents or citizens. I don't give a shit what country any Australian is originally from ... we are all Australians who hold citizen or permanent residen status, no matter the color of your skin or religion.
      - drieddust 9y ago
        I think this is a global phenomenon.Real Estate prices in India escalated pretty much because people settled in decided to put their money into buying houses so that they can sell or rent them for a very high returns. This in turn forced realtors to over extend themselves. Our previous government was corrupt to the hilt so this continued for over a decade. That said India now have strict regulations in place[1] to curb this behaviour. I am not sure why other countries cannot follow suit. I have no issues with foreign investment comes into infrastructure and commercial space. I think its mutually beneficial. However, inflow of foreign money into housing is just evil. Local population with fixed means of income just cannot. [1] http://www.freepressjournal.in/india/rera-all-you-need-to-know-about-the-real-estate-act/1055591 http://www.freepressjournal.in/india/rera-all-you-need-to-kn...
1897325423 9y ago
The most corrupt people are the older upper middle class Australians. They are happy to do nothing at all other than "own property" and rake in ridiculous amounts of money. All they are doing is sucking the money from younger or poorer people and transferring it to themselves without actually doing any work or adding any productivity to society. I live in an area with lots of these investors and they don't work. They talk about it in hushed tones like it is a scheme or a rort, which is obviously is.
- boznz 9y ago
  not sure corrupt is the right word, but I get your point
dang 9y ago
> Ha ha downvotes from those with a This breaks the site guidelines. Could you please read them and not do that again? https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html

chris_wot 9y ago

I suspect you are being downvoted because of your simplistic worldview.

hguhghuff 9y ago
Those who hope for high house prices downvote - they know their paper wealth depends on the Chinese keeping house prices propped high. Those who feel Australian society ruined by the housing obsession vote back up. Nice and simple.
- chris_wot 9y ago
  Those who think that Chinese investors are only one part of an incredibly complex issue don't vote you up or down.
- freeloop3 9y ago
  I can't downvote, but I hope for high house prices. What do I do?
  - hguhghuff 9y ago
    You look into you heart and know that we're selling everything valuable in Australia to China. Our houses, our farmland, our infrastructure, our natural resources. Everything must go. That's not living, it's not a society, it's not a future for our children, it's just self interest and greed. If you have integrity then you stand for what's right, if, like half Australia, you depend on this corrupt system, then you keep nice and quiet.
    - pm 9y ago
      I would agree with the "simplistic view" comment, except for the fact that I live here and have seen it happening for at least the last decade. Foreign investors are literally buying up streets of houses, without regard to the price; Chinese companies are buying up as much farmland as they can; Adani is trying to mine as much coal with no regard to the environment while getting billions in Government assistance; and don't get me started on all the Chinese buying up as much baby formula as they can and sending it back home to their relatives. There's a difference between immigrating to a country because you want to live there, and immigrating to pump it for its resources until it runs dry.

Arnt 9y ago

I think you mean "the Chinese authorities cannot possibly get a list of Australian property owners and jail a few thousand of the ones that can't explain the origin of their money".

hguhghuff 9y ago
No, I mean that there is on onus in Australian law to prove other forms of investment are not from criminal origin, but no such onus on real estate. That's because no one wants to look at the fact that our housing boom is driven by the proceeds of crime on a gargantuan scale.
- Arnt 9y ago
  Oh, I see. You're talking about a giant immigration wave from China. I thought you had in mind people who were subject to Chinese law and could be arrested by Chinese police.
  - hguhghuff 9y ago
    No, that would be racist. I object only to real estate sales to people who are not permanent residents or citizens. I don't give a shit what country any Australian is originally from ... we are all Australians who hold citizen or permanent residen status, no matter the color of your skin or religion.
    - drieddust 9y ago
      I think this is a global phenomenon.Real Estate prices in India escalated pretty much because people settled in decided to put their money into buying houses so that they can sell or rent them for a very high returns. This in turn forced realtors to over extend themselves. Our previous government was corrupt to the hilt so this continued for over a decade. That said India now have strict regulations in place[1] to curb this behaviour. I am not sure why other countries cannot follow suit. I have no issues with foreign investment comes into infrastructure and commercial space. I think its mutually beneficial. However, inflow of foreign money into housing is just evil. Local population with fixed means of income just cannot. [1] http://www.freepressjournal.in/india/rera-all-you-need-to-know-about-the-real-estate-act/1055591 http://www.freepressjournal.in/india/rera-all-you-need-to-kn...

1897325423 9y ago

The most corrupt people are the older upper middle class Australians. They are happy to do nothing at all other than "own property" and rake in ridiculous amounts of money. All they are doing is sucking the money from younger or poorer people and transferring it to themselves without actually doing any work or adding any productivity to society. I live in an area with lots of these investors and they don't work. They talk about it in hushed tones like it is a scheme or a rort, which is obviously is.

boznz 9y ago
not sure corrupt is the right word, but I get your point

dang 9y ago

> Ha ha downvotes from those with a This breaks the site guidelines. Could you please read them and not do that again? https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html