I thought it may be interesting to bring up another
topic for discussion

I recently attended a house auction in my suburb
and was amazed that a rather average house sold
to a Chinese buyer for an outrageous price.
Most of the people bidding were Chinese - and one
lady was determined to have the house -
it ended up pricing several young couples out of the
market. Money did not seem to be a problem to the
Chinese buyer.

This is happening in our area and also in the inner city
of Melbourne. Apartments are
going up like weeds.
Some luxurious, others small, cheap (in quality - not price).

Are we really overdoing things to allow this to happen?
Should boundaries be set for foreign investors?

http://www.abc.net.au/news/2015-10-12/selling-the-australian-property-dream-to-china/6841810

Yes Foxy, it is disturbing. Three years ago I went to auctions for
houses near where I lived and two Chinese ended up battling for the
house after the Australians dropped out.
The bidders did not look affluently dressed and one was quite young 20
and the other about 30.
The house was a two bedroom 1945 to 1950s fibro cottage on a bad block.
The older one won the auction. I followed the young one out and she
got into an old Toyota Carrola. Yet she was bidding up to $850k.

Now one swallow does not make a summer, but it fits with reports I have
read where relatives are used to purchase.
The house was rented out after sale to an Australian couple.
Overseas residents are not allowed to buy existing properties only
new properties.

At last the government has jumped on the rorts, but only the multimillion
dollar properties. The agents when I sold my house told me that
this goes on all the time. He said they cannot prove what they see,
but there is always a delay in payments.
Australians bought my house.

The shady money getting out of China has been distorting our real
estate market for some years.

Dear Bazz,

I find it very disturbing indeed that
Chinese investors are allowed so much
leeway with their purchases. Where does
their money come from and where does it
go and what are the benefits to us in
this country? Do these investors pay any taxes
or does their money go back to China?
which I suspect it does.
That has to stop.

According to Asians, the 'Skips' are slow to learn, bovine and obviously don't value their assets and Australian citizenship, or else they wouldn't be giving them away.

A question (for argument's sake), how many Labor ex-PMs are there swinging from the taxpayer's teat and using their taxpayer-funded office, staff and travel to represent, use their contacts and ease the path for Asian investors wanting to stash dough (sorry, invest) in Oz and get their student children (and um-children) citizenship (useful for obvious reasons)?

Hush now and don't you worry about any of that. It is all part of the 'diversity-Australia-has-to-have'. Tres 'Progressive', apparently. So it is back to ordering that Chinese takeaway to eat and expand while watching the chattering air-heads on The Box.

otb,

I don't think that we can blame only one
side of government. Our ex-Prime Ministers
have done quite well. All of them.

And let's not forget our signed "trade
agreements" and the selling off our agricultural
lands. As I stated - it has to stop before
there'll be nothing to sell. Then what?

Some things are worth more than money.

There's a saying amongst the Chinese in Australia: 'Aren't the Australians dumb!'