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This is actually the case, and its shocking to see there are so many things wrong with housing here. In the time since COVID lockdowns ended my rent has doubled

This is actually the case, and its shocking to see there are so many things wrong with housing here. In the time since COVID lockdowns ended my rent has doubled. Literally doubled. And people seem to be acting like its all a normal part of a functioning economy. Only people who own houses here are drug lords, politicians and anyone over the age of 50 who bought property when it was affordable.

andrewstuart 2y ago
>> Only people who own houses here are drug lords, politicians and anyone over the age of 50 who bought property when it was affordable. Also foreign buyers and money laundering criminals from all around the world - who knows from where? No-one knows from where because Australia keeps no systematic records and has no enforcement systems for the laws and no interest in tracking or enforcing because anything that inhibits the flow of money is bad. You can't buy a mobile phone without 3 forms of ID but you can buy a house with a suitcase full of cash no questions asked.
- defrost 2y ago
  > but you can buy a house with a suitcase full of cash no questions asked. You could twenty odd years ago but I'm not sure you can anymore; IIRC cash transactions over $10K are now subject to some kind of statement as to where it came from after a laundering Bill became an Act of Law (or did it?). I did hand over 60K as a deposit for a house some years back, the Estate agent asked why and I said I was going to be charged to cut a banker's cheque so I asked for cash instead .. they wobbled a bit about taking it and I asked if they were going to refuse to accept legal tender and that was that, cash accepted, contract signed.
  - andrewstuart 2y ago
    Real estate agents are excluded from money laundering reporting obligations in Australia - successive governments have dithered and stalled and put off implementing AML Tranche 2 for more than 20 years because the property lobby owns the politicians and the politicians own property. Even now there is enough talk about implementing AML tranche 2 that you might come to believe it will actually happen, but right at the last minute the will be some reason why it can't actually happen. Australia is money laundering paradise and as a result dirty money is pouring in from around the world and sending house prices to the moon because money launderers do not care about a fair price, they care about being able to dump the money.
    - averageRoyalty 2y ago
      > Australia is money laundering paradise and as a result dirty money is pouring in from around the world and sending house prices to the moon because money launderers do not care about a fair price, they care about being able to dump the money. I'm not sure that's true. According to the Foreign Investment Review Board[1], foreign residential purchase only makes up about 1% of sales. Are you positing that this is incorrect data by the FIRB, or that these purchases are made in a different way which eludes this data? If so, how? 1. https://www.abc.net.au/news/2024-06-27/foreign-buyers-china-hk-india-want-australian-property-housing/104024004 https://www.abc.net.au/news/2024-06-27/foreign-buyers-china-...
  - lmpdev 2y ago
    The $10K rule is flaunted everyday

andrewstuart 2y ago

>> Only people who own houses here are drug lords, politicians and anyone over the age of 50 who bought property when it was affordable. Also foreign buyers and money laundering criminals from all around the world - who knows from where? No-one knows from where because Australia keeps no systematic records and has no enforcement systems for the laws and no interest in tracking or enforcing because anything that inhibits the flow of money is bad. You can't buy a mobile phone without 3 forms of ID but you can buy a house with a suitcase full of cash no questions asked.

defrost 2y ago
> but you can buy a house with a suitcase full of cash no questions asked. You could twenty odd years ago but I'm not sure you can anymore; IIRC cash transactions over $10K are now subject to some kind of statement as to where it came from after a laundering Bill became an Act of Law (or did it?). I did hand over 60K as a deposit for a house some years back, the Estate agent asked why and I said I was going to be charged to cut a banker's cheque so I asked for cash instead .. they wobbled a bit about taking it and I asked if they were going to refuse to accept legal tender and that was that, cash accepted, contract signed.
- andrewstuart 2y ago
  Real estate agents are excluded from money laundering reporting obligations in Australia - successive governments have dithered and stalled and put off implementing AML Tranche 2 for more than 20 years because the property lobby owns the politicians and the politicians own property. Even now there is enough talk about implementing AML tranche 2 that you might come to believe it will actually happen, but right at the last minute the will be some reason why it can't actually happen. Australia is money laundering paradise and as a result dirty money is pouring in from around the world and sending house prices to the moon because money launderers do not care about a fair price, they care about being able to dump the money.
  - averageRoyalty 2y ago
    > Australia is money laundering paradise and as a result dirty money is pouring in from around the world and sending house prices to the moon because money launderers do not care about a fair price, they care about being able to dump the money. I'm not sure that's true. According to the Foreign Investment Review Board[1], foreign residential purchase only makes up about 1% of sales. Are you positing that this is incorrect data by the FIRB, or that these purchases are made in a different way which eludes this data? If so, how? 1. https://www.abc.net.au/news/2024-06-27/foreign-buyers-china-hk-india-want-australian-property-housing/104024004 https://www.abc.net.au/news/2024-06-27/foreign-buyers-china-...
- lmpdev 2y ago
  The $10K rule is flaunted everyday