Have spoken to two agents in Sydney who have been selling brand...

Have spoken to two agents in Sydney who have been selling brand new apartments to wealthy Chinese nationals, (quite a few in Zetland) where the agents have asked the successful buyers if they would like their agency to manage the rental of these properties.

In many cases these individuals has said that they had no intention to rent the properties out. They have so much cash they actually don't care about renting these brand new apartments, that will be collecting dust, while locals who have to work nearby, are forced out by price, to live a two hour mobile parking lot drive away.

There's somthing really wrong with that.

In any case, we finally bought a house late last year after saving and investing for about 20 years.

I do hope however, (that for the sake of our quality of life, and ability for our children to be able to actually afford to buy a property in their lifetime that still allows them to commute to a job,) that the market will eventually correct or crash to more affordable levels.

Allowing a country with more multi-millionaires than we have population, to buy homes and then leave them empty is not sustainable.