China

[tigerdell]

...

Houses? Chinese now, probably Indians too. But 60s and 70s it was the Italians and Greeks. Then the Yugoslavs. Turks followed by Lebanese. Vietnamese arrived.

It's always happened.

I would suggest there is a difference now, with a significant number of non-resident / short-term purchases plus a far greater percentage of higher density and skyscrapers.
Pre 80s the Italians Greeks Turks Viet were predominantly migrants moving to stay... And that resulted in huge benefits

 

[TV Josh]

I would suggest there is a difference now, with a significant number of non-resident / short-term purchases plus a far greater percentage of higher density and skyscrapers.
Pre 80s the Italians Greeks Turks Viet were predominantly migrants moving to stay... And that resulted in huge benefits

Correct. There is a huge difference. According to some law-types I know, over the last 5-10 years there has been a considerable amount of property in Victoria purchased by foreign nationals. The law angle was that money was being illegally syphoned out of China, Malaysia and other nearby countries and "hidden"/laundered in Victorian residential property, seen as a booming investment option. They were detecting it by checking the water flow, or lack thereof, through properties. Suburb of Balwyn was a standout. So unlike migration boom and housing buy-up, there is no benefit at all to Australians in this scenario.
That prompted the Vic Government to introduce the Vacant Residential Land Tax, with the purpose of addressing housing supply (and by necessary corollary, price). Sorry MD Jazz.

 

[Baloo]

What? Property prices increased because of foreign ownership? That is just wrong td. Absolutely very little to do with foreign ownership.

There's no doubt that in some areas that the prices have risen on the back of foreign ownership, if we include 1st generation residents in the foreign ownership category.

Where my parents still live, Waverley, the prices have risen out of kilter with neighbouring areas as it's much sought after by Asians, predominantly Chinese, to get into the Glen Waverley High catchment zone.

 

[MD Jazz]

There's no doubt that in some areas that the prices have risen on the back of foreign ownership, if we include 1st generation residents in the foreign ownership category.

Where my parents still live, Waverley, the prices have risen out of kilter with neighbouring areas as it's much sought after by Asians, predominantly Chinese, to get into the Glen Waverley High catchment zone.

Why would you include them as foreign owners? I think of foreign ownership as purely overseas speculators, not residents.

It's pretty complex and not down to just one factor. The one universal truth it is less affordable for young people to get into the market than it was when my parents were buying in the 70's and 80's.

Prices are on the way down though.

 

[Baloo]

Why would you include them as foreign owners? I think of foreign ownership as purely overseas speculators, not residents.

It's pretty complex and not down to just one factor. The one universal truth it is less affordable for young people to get into the market than it was when my parents were buying in the 70's and 80's.

Prices are on the way down though.

I would include them because many would start as foreign owners but eventually decide to reside in Australia. Just from the small subset of Asian I know who have bought property in Australia, many as accommodation for children or nephews/nieces to live in while studying in Australia (and seen as a cheap investment), have seen the students decide to remain in Australia.

Whether it's a sale of a property to someone not residing in Australia, or someone in Australia but without a permanent visa, it's foreign ownership.

 

[tigerdell]

There's no doubt that in some areas that the prices have risen on the back of foreign ownership, if we include 1st generation residents in the foreign ownership category.

Where my parents still live, Waverley, the prices have risen out of kilter with neighbouring areas as it's much sought after by Asians, predominantly Chinese, to get into the Glen Waverley High catchment zone.

it works when people move permanently such as this.
I think this is good

 

[DavidSSS]

Exactly TOO!

We are giving away way too much !

Yet when the Whitlam government proposed buying it all back in the 1970s the conservative press went apes**t.

Yes, they royally f***ed up the implementation but that wasn't the initial opposition. Imagine if we had bought back the farm then, we'd be doing better now.

DS

 

[tigerdell]

Why would you include them as foreign owners? I think of foreign ownership as purely overseas speculators, not residents.

It is a complex with multiple factors.
Though 20% of total purchases and quotes such as "foreign property investment boom" indicate it has a significant impact on prices.

 

[MB78]

China looking to put an 80% tariff on Barley imports into the country. Our farmers don’t get subsidies, but they are making this claim.

More lies and bullying straight from China’s playbook.

 

[Brodders17]

China looking to put an 80% tariff on Barley imports into the country. Our farmers don’t get subsidies, but they are making this claim.

More lies and bullying straight from China’s playbook.

Politicians lieing? This means war.

 

[eZyT]

This is a real problem because who the hell knows what's real & what's fake news now.

easiest thing in the world to differentiate old.

if it says trump is a really great guy doing a really great job, so so good, it's real. otherwise it's fake.

 

[Sintiger]

China looking to put an 80% tariff on Barley imports into the country. Our farmers don’t get subsidies, but they are making this claim.

More lies and bullying straight from China’s playbook.

Not sure it's China's playbook, been in the playbook of many economic powers over the years. I remember an Australian trade official telling me in the 1990s about the tactics the US used to bully Asian countries to buy their produce and products and how it especially effected Australian primary produce export markets at the time, and we were their allies !!
Doesn't make what China is doing right of course.

 

[MB78]

Politicians lieing? This means war.

So you accept this as being reasonable then?

 

[MB78]

Not sure it's China's playbook, been in the playbook of many economic powers over the years. I remember an Australian trade official telling me in the 1990s about the tactics the US used to bully Asian countries to buy their produce and products and how it especially effected Australian primary produce export markets at the time, and we were their allies !!
Doesn't make what China is doing right of course.

I don’t doubt what you say. But with FTA’s being more used now days and the world being smaller, I would have thought that there would be more respect in honouring a signed agreement.

 

[Brodders17]

Not sure it's China's playbook, been in the playbook of many economic powers over the years. I remember an Australian trade official telling me in the 1990s about the tactics the US used to bully Asian countries to buy their produce and products and how it especially effected Australian primary produce export markets at the time, and we were their allies !!
Doesn't make what China is doing right of course.

next thing we know China will be illegally spying on smaller neighbours to get an advantage in trade negotiations.

 

[scottyturnerscurse]

next thing we know China will be illegally spying on smaller neighbours to get an advantage in trade negotiations.

Haha!

 

[DavidSSS]

next thing we know China will be illegally spying on smaller neighbours to get an advantage in trade negotiations.

Clearly something we would never do [cough] Timor Gap [cough].

DS

 

[Sintiger]

I don’t doubt what you say. But with FTA’s being more used now days and the world being smaller, I would have thought that there would be more respect in honouring a signed agreement.

I am certainly not defending China and what they are doing to barley exporters but if we think they are the only ones to ever do it then that's not correct.

 

[TV Josh]

Now China suspending Australian beef imports. Next it will be wine... just wait.

China suspends Australian beef imports from four abattoirs

The freeze has fuelled concern of a campaign by Beijing against Australian producers in response to Prime Minister Scott Morrison's push for an independent coronavirus inquiry.

www.theage.com.au

They REALLY don't want an investigation into the origins of this virus right? W****rs.

 

[Tigers of Old]

Guilty as sin. *smile* them.