na, chinese buying is not happening - it can't be.
I came on this forum a few weeks ago and said it was happening and that they were outbidding by hundreds of thousands what Aussies would pay.
I was told royally I was a dick wit ------
I even posted pictures of auctions with a lot of Asian faces.
I was told they might have been born in china but were aussie citizens for a long time.
Well, apparently the dickwit was right.
Now the dickwit says (again) --- this is NOT good for Australia.
He also says ---------- the Chinese wave will end - just like all waves do.
And when it does - and if the chinese depart WITH their money - as they see the values dropping, they will exit like rodents leaving a dinghy.
Watch out any poor bloody Aussies who have a mortgage and are depending on capital growth then.
And watch out if those Aussies are dependant on a wage or salary to back up that mortgage.
If anyone doesn't see this as high risk, please visit either guide dogs or at least an optometry specialist.
Anyone holding or certainly buying into a market like this only needs to know that they are -
entering a high priced market
entering a market that is pumped by a single group.
that same group can bugger off at any time
the drop when they leave can be as great and much greater than the rise when they entered ----------- hello, a dropping market puts pressure on ALL holders ----------- and their backers - ie. BANKS.
this push of prices comes on the back of a 50 year boom
this push comes at a time of record low interest rates
the returns are NOT enough on Aussie property to cause Chinese to stay in the market IF they need to cash up - they WILL sell - AND they WILL PANIC if prices start dropping away and they are under financial pressure at home.
They are foreigners - they will NOT give a toss about Australia if they have to exit.
If you want to read more about this ---- wait 3 weeks for the Age to catch up.
