Australian immigration

[Jasin]

Which 'birdcage' will you be living in Bobs?

[Bobby]

Which 'birdcage' will you be living in Bobs?

I have my own place - all paid for - thank God.

I'm staying here and it's all ground floor - not in a towering inferno.

[Aquarius]

I agree absolutely about Chinese buying into and taking over our housing market. My older son has several rental houses and he is a very compassionate landlord who has not taken advantage of the current housing market and raised rents, refused repairs and all the other horrible things a lot of landlords and their property managers are doing at present. I would point out all his houses are neutrally geared and one is even positively geared.

One of his friends who owns a real estate agency in the western suburbs of Sydney told him that 80% of his clients are now Chinese! You can't outbid them at auctions as they have unlimited finances to buy up everything. And they are really into buying up all these very modest homes in the western suburbs which prevents young Australians from getting onto the more affordable bottom level of the property market. Most of these Chinese millionaires are foreigners and are not supposed to be able to purchase existing dwellings. However they get around this by getting their kids into university here and then the kids "buy" the properties. What sort of racket is this?? And worst still, why do we allow it?

Also the FIRB can intervene and allow foreigners to buy properties here. No wonder it's impossible for young Australians to get a forever home. I just can't believe that this is the country I grew up in. Our grandkids will be tenants in their own land. And do our politicians give a stuff? Not likely. They're too busy building up their own multi million dollar property portfolios.

I brought this up with my local member Zali Steggall. She seems to be open to doing something to make housing more affordable but I want our politicians to stop millionaire and billionaire foreigners from buying up everything here to the detriment of Australian citizens. We couldn't do it in their country.

Jen

[Jasin]

I'm waiting for War with China.
That way, I can pounce on a large property establishment owned by a Chinese foreign Company.
When War breaks out - all 'Chinese' owned properties, etc become defaulted and a free-for-all.
So they can buy what they like. We'll take their money, then confiscate their purchases back off them for becoming 'the enemy'.

[Aquarius]

And then they nuke us? I'm kinda a bit worried about this war with China .....

[Jasin]

Yeah. I guess if they nuke us, whatever land they've purchased and defaulted on, might be rendered useless.

Imagine all that Chinese purchased real estate 'confiscated' because they become an Enemy of the State.

[Black Orchid]

The Chinese aren't even living in a lot of these houses/apartments they buy and that is driving the rental market up up up.

Chris Minns is now trying to force local Councils into changing their zoning to medium density to build unit blocks for the Chinese and there is no limit as to how many they can purchase in each complex and, again, they leave many empty. For decades both sides of government have said they would put a limit on how many units foreigners can buy in a complex but neither side has ever set a limit. All talk.

There are some beautiful Federation style well built, strong houses in areas like Roseville, Killara, Lindfield etc and the government is forcing old people out of their homes so they can raze them and build apartments for the Chinese.

The whole thing is an absolute disgrace.

[Black Orchid]

The median price for a house in Sydney is set to hit $2 million by 2027 due to immigration.

https://www.dailymail.co.uk/news/articl ... state.html

[Jasin]

Crazy! I'm glad I left there.
But, saying that - people who bought a home for just $70,000 in the burbs of Western Sydney back in, say - 1984 would inevitably be able to seel now for $800,000. That's how steep the inflation has gone.

[Black Orchid]

They still have to buy back in somewhere else if they sell and everywhere else is going crazy too. Not as crazy as Sydney but still crazy.

The majority of immigrants get dumped in Sydney hence the beyond crazy prices here and if they want to buy back into the market they probably need to leave the state and their families. It's criminal.

Sydney is full. **** off!