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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 bec

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...
  - Arnt 9y ago
    But if they aren't permanent residents, then they are subject to the law of whatever country where they spend the rest of their time. China, I presume. So when you say there's an infinite supply, you imply that the Chinese police cannot obtain Australian property records and use those to identify and imprison a few thousand corrupt officials.

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...
- Arnt 9y ago
  But if they aren't permanent residents, then they are subject to the law of whatever country where they spend the rest of their time. China, I presume. So when you say there's an infinite supply, you imply that the Chinese police cannot obtain Australian property records and use those to identify and imprison a few thousand corrupt officials.