GOLD 0.51% $1,391.7 gold futures

The offshore money is the wild card. In my building it was all...

  1. 5,352 Posts.
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    The offshore money is the wild card. In my building it was all retired 'kind of well off', 'Aussies' when I first moved in. A real nice new development near the CBD. In the last 8 years 80% of the building has been sold to 'non Aussies' and the price of apartments have gone from 600k to 1.5mill. I don't know 'where' the money comes from, because these 'non Aussies' speak no English and simply wander down to the harbour for a bit of fishing now and again. And the building often smells like the outdoor food markets in the non Aussie country (I used to work there)

    It does not bother me. I like my non Aussie neighbours. Heck, I am non Aussie, too!

    But, it shows me that the real estate market is not a natural one here. We are a world wide market. And if you have money and live in Syria, Ukraine, Palestine, Iraq, China, etc... you are a real player here in the real estate market.

    Honestly, the way the world is going, Australia may be the last gated (Ocean) community on earth. And I think the AUD will reflect that (go up). What is the cost of safety? Personally I wish real estate was priced to Aussie wages (not around the world 'shady money'). And I wish the Aussie dollar would fall - as POG will be good for us Aussie (now Aussie) wage earner holders.

    But, alas, I my heart and head disagree here.

    (what is the name of the place across the ditch; maybe I should go there)
 
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