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Does Australian housing also have a huge influx of Chinese buyers? I wonder to what degree their purchasing overseas is fueling that growth, not unlike Japanes
by roc 14y ago
Does Australian housing also have a huge influx of Chinese buyers? I wonder to what degree their purchasing overseas is fueling that growth, not unlike Japanese purchasing in the 80s.
Anecdotally, they seem to be heavily involved in Canada's situation.
- meric 14y agoAnecdotally that is one of the factors driving up prices. The other main factor is the slowness in which the government opens up new land for building. Also new buildings on new land are taxed more heavily.
- roc 14y agoI'll admit I don't know the first thing about the degree of suburban sprawl, or whether greenfield development taxes are sane or not in Australia. But as an American having grown up and multiply paid for the problems caused by sprawl, I'm definitely on the side of the concept of high greenfield development taxes. No building is an island and there are very real and very steep costs in maintaining and growing infrastructure to handle sprawl. It's crucial to ensure those costs are accounted for in prices. But I digress.