Waldo, "Its bad enough that my kids can never afford a house...

Waldo,

"Its bad enough that my kids can never afford a house here cos the asians are pricing them out of the market"

1) Statistics shown rich Caucasian Americans for the last 40 yrs, each year they buy more properties in Australia than Asians. When US economy picks up AND drop in Aussie dollars, there will be more rich Americans buying up more. A lot of short sellers are rich American hedge funds target FMG, AGO.

2) Negative gearing - interest rate dropped sharply, has landlords pass on savings to tenants (mostly young people trying to save up for the house)? No! Young people cannot save because rent is high and cutting rates by RBA will only increase more negative gearing by greedy landlords. I've seen someone earn over $300K pa, due to negative gearing, has never pay one single cent of tax.

3) Many young people have massive credit card debt, furniture loan, car loan, loan on loan, cash converters ("day-to-day loan) loan charging over 100% interest rate etc... people want everything now, not saving up. Is that also Chinese fault? Who operates day-to-day loan? Aussies? Who do you sell resources to?

4) RBA wants lower currency, which help more foreigner buyers. You can't have both ways. High currency will destroy mining, but keep foreigner buyers out. Low currency will make cost of living high (eg petrol, transport, food etc), people can't save, but flooded with more American buyers.