How to switch off the source of the money for our property bubble??
"As time goes on, they start to put [their funds] into legitimate assets such as houses and property and shares and bank accounts and then the money becomes their wealth," Mr Hill, who is based in Beijing, said. "But it's never been their money to start with in the first place; it's the corrupt money flowing out of China."
Read more: http://www.smh.com.au/world/australia-set-to-seize-assets-of-corrupt-chinese-officials-20141020-118kl3.html#ixzz3GwDOSnSK
Auctions in my locality sell on the day and no-one moves in.
I will be watching auction clearance rates from now on.
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- I'm betting the property bubble will end in 2015
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