have not heard any prop bears relocating to the US to buy their dreams at absolute bargain prices.... am more inclined to believe they are the 'permanent renters'....who rent all their lives....nothing wrong with that....european style is to rent... its more of an aussie thing to buy the home....had more to do with all the vast expanse of land available.... and was probably marketed to them after the ww2, when the govt went into building houses in a big way to rescue the economy... all those early immigrants who came here bought their homes..and instilled those ideas into the majority of us here today.....funny the immigrants did not rent when they had the opportunity to buy.....ie changed attitudes
news article out this week....the revenue received from overseas students for accommodation, living costs and uni fees is greater than the tourism dollars.....very interesting....the usual stay is 6 years or more...
the other news this week, the investors in the dormitory style aged care buildings are returning 1% at best....and players are leaving....returns are too low.... this goes with the eg; of up to 8 elderly males and females living in the same room.....omg if you went into the aged care units....has to be self contained or mini luxury style.....to get the returns... the medics are usually the biggest investors.... we have new ones here in toorak...for 55 + only, prices started at 450.000, in 2007, with retail below, right smack in the middle of toorak....thought they are very cheap interesting weeks ahead for investors
all I want for xmas is a 2% drop in interest rates cheers
