Australian Politics Forum - 'Worst ever' property dive after disasters

Lisa Jones

Gold Member

Offline

Australian Politics

Posts: 39047
Sydney
Gender: female

Re: 'Worst ever' property dive after disasters
Reply #30 - Mar 2^nd, 2011 at 8:54am

They were talking about this on the radio the other day. A woman rings up and says that her and her husband have a good job in the police force and earn about 80K each. The bank is willing to lend them 400K to buy a house so they go off to auction after auction expecting to pay near the reserve price and along comes a china man out of the blue and out bids them by a 100K Sad

It must be a really good feeling that you have lived here all of your life and payed rip off taxes only to be made to feel like a second rate citizen by having to compete against a foreigner who has contributed bugger all taxes here and gets a much cheaper loan from a chinese bank Sad

You can thank kevin dudd for letting them in by the truck load. We really didn't need any more chinese property speculators or shop keepers in this country peddling more made in china junk

- Last Nail

The media example you've highlighted is typical and nothing new.

(Umm 400K for a house ??? That's impossible in the Sydney property market. An old knock down job on half decent land is going to easily cost you 800K today if you're talking Sydney market)

Anyway .. the problem is .. the phenomenon you've described is rampant and well recognised esp at the middle to higher end of the domestic real estate market (where most cashed up Aussies aged 30 and over are located).

Last Nail .. I was thinking about this topic early this morning .. you know it kinda reminds me of what's happening in our tertiary education industry (places are going to foreign students at an alarming rate .. at the expense of domestic students).

Hmm I wonder what Andrei has to say about all this?

No doubt he's going to start talking about how necessary these govt backed measures are in order to make Oz attractive to foreign investors .. sighs.

Back to top

« Last Edit: Mar 2^nd, 2011 at 8:59am by Lisa Jones »

If I let myself be bought then I am no longer free.

HYPATIA - Greek philosopher, mathematician and astronomer (370 - 415)

IP Logged

Lisa Jones

Gold Member

Offline

Australian Politics

Posts: 39047
Sydney
Gender: female

Re: 'Worst ever' property dive after disasters
Reply #31 - Mar 2^nd, 2011 at 9:24am

qikvtec wrote on Mar 1^st, 2011 at 11:22pm:

There's a lot of downside risk to the property market given the interest rate environment and consumer confidence. If you have the kahunas and the disposable you could make some serious coin.

I agree .. but you also need to know what you're buying too.

There's so much junk being dumped on the real estate market atm .. little wonder inexperienced people find themselves in submarine mortgage situations.

Even when an opportunity to buy something decent does come along .. so much so that you organise a building report and finance etc .. you find yourself not only competing against other Aussies (which is fair enough) .. but also against other foreigners who have been allowed in (and who can access more funds at 1/3- 1/2 of the interest rates you can).

I don't know how any of this can be a good thing.

IMO .. the effects of all this are as follows: it (definitely) pushes house prices up (that's just a fact now); it basically excludes locals/makes it extremely difficult for them to compete; even those locals who sell and obtain a greater price .. and who think they've done well out of all this .. well even they lose out ultimately .. because they'll need to jump back into the market to buy something else only to find themselves excluded/experience difficulty in competing.

Back to top

« Last Edit: Mar 2^nd, 2011 at 9:32am by Lisa Jones »

If I let myself be bought then I am no longer free.

HYPATIA - Greek philosopher, mathematician and astronomer (370 - 415)

IP Logged

Sir lastnail

Gold Member

Offline

Australian Politics

Posts: 30900
Gender: male

Re: 'Worst ever' property dive after disasters
Reply #32 - Mar 2^nd, 2011 at 12:12pm

Lisa Jones wrote on Mar 2^nd, 2011 at 8:54am:

They were talking about this on the radio the other day. A woman rings up and says that her and her husband have a good job in the police force and earn about 80K each. The bank is willing to lend them 400K to buy a house so they go off to auction after auction expecting to pay near the reserve price and along comes a china man out of the blue and out bids them by a 100K Sad

It must be a really good feeling that you have lived here all of your life and payed rip off taxes only to be made to feel like a second rate citizen by having to compete against a foreigner who has contributed bugger all taxes here and gets a much cheaper loan from a chinese bank Sad

You can thank kevin dudd for letting them in by the truck load. We really didn't need any more chinese property speculators or shop keepers in this country peddling more made in china junk

- Last Nail

The media example you've highlighted is typical and nothing new.

(Umm 400K for a house ??? That's impossible in the Sydney property market. An old knock down job on half decent land is going to easily cost you 800K today if you're talking Sydney market)

Anyway .. the problem is .. the phenomenon you've described is rampant and well recognised esp at the middle to higher end of the domestic real estate market (where most cashed up Aussies aged 30 and over are located).

Last Nail .. I was thinking about this topic early this morning .. you know it kinda reminds me of what's happening in our tertiary education industry (places are going to foreign students at an alarming rate .. at the expense of domestic students).

Hmm I wonder what Andrei has to say about all this?

No doubt he's going to start talking about how necessary these govt backed measures are in order to make Oz attractive to foreign investors .. sighs.

yes this is true about education as well. We are selling out local students in favour of full fee paying foreign students.

I know a person who lives here who got knocked back on a first round offer on a post grad course at Uni because they didn't complete their high school in Australia whilst at the same time the course is full of foreign chinese students who can't speak english to save their life !! Their computers have a chinese version of Windows and they have to continually use an english to chinese dictionary Sad

WTF is going on here ??

Back to top

"If you take out Saddam, I guarantee you that it will have enormous positive reverberations on the region..." - Benjamin Netanyahu in 1995

IP Logged

Equitist

Gold Member

Offline

Australian Politics

Posts: 9632
NSW

Re: 'Worst ever' property dive after disasters
Reply #33 - Mar 2^nd, 2011 at 12:19pm

Sir lastnail wrote on Mar 2^nd, 2011 at 12:12pm:

Lisa Jones wrote on Mar 2^nd, 2011 at 8:54am:

They were talking about this on the radio the other day. A woman rings up and says that her and her husband have a good job in the police force and earn about 80K each. The bank is willing to lend them 400K to buy a house so they go off to auction after auction expecting to pay near the reserve price and along comes a china man out of the blue and out bids them by a 100K Sad

It must be a really good feeling that you have lived here all of your life and payed rip off taxes only to be made to feel like a second rate citizen by having to compete against a foreigner who has contributed bugger all taxes here and gets a much cheaper loan from a chinese bank Sad

You can thank kevin dudd for letting them in by the truck load. We really didn't need any more chinese property speculators or shop keepers in this country peddling more made in china junk

- Last Nail

The media example you've highlighted is typical and nothing new.

(Umm 400K for a house ??? That's impossible in the Sydney property market. An old knock down job on half decent land is going to easily cost you 800K today if you're talking Sydney market)

Anyway .. the problem is .. the phenomenon you've described is rampant and well recognised esp at the middle to higher end of the domestic real estate market (where most cashed up Aussies aged 30 and over are located).

Last Nail .. I was thinking about this topic early this morning .. you know it kinda reminds me of what's happening in our tertiary education industry (places are going to foreign students at an alarming rate .. at the expense of domestic students).

Hmm I wonder what Andrei has to say about all this?

No doubt he's going to start talking about how necessary these govt backed measures are in order to make Oz attractive to foreign investors .. sighs.

yes this is true about education as well. We are selling out local students in favour of full fee paying foreign students.

I know a person who lives here who got knocked back on a first round offer on a post grad course at Uni because they didn't complete their high school in Australia whilst at the same time the course is full of foreign chinese students who can't speak english to save their life !! Their computers have a chinese version of Windows and they have to continually use an english to chinese dictionary Sad

WTF is going on here ??

If we weren't talking about foreigners entering tertiary education (often through high-fee Visa brokers) - and we were instead talking about 'boat people' who pay other 'people-smugglers' - it would be called "queue-jumping"...

The same hypocrisy arises for the right whingers when it comes to those with pseudo-Private Health Insurance who get top priority in Public Hospital queues over people with similar ailments - they don't call it "queue-jumping"...

Getting back to education, right whingers saw no problem with the oward Govt using conslidated revenue to fund pseudo-Private Schools - nor do they see a problem with the policy change to allow the offspring of poor little dumb rich kids to buy a tertiary education to jump queue over those less privileged students who would earn a place on merit...

Apparently, they apply a range of different standards to benefiting from "user pays" systems...

Back to top

« Last Edit: Mar 2^nd, 2011 at 12:26pm by Equitist »

Lamenting the shift in the Australian psyche, away from the egalitarian ideal of the fair-go - and the rise of short-sighted pollies, who worship the 'Growth Fairy' and seek to divide and conquer!

IP Logged

Sprintcyclist Gold Member Offline OzPolitic Posts: 41314 Gender:	Re: 'Worst ever' property dive after disasters Reply #34 - Mar 2^nd, 2011 at 12:23pm 'Worst ever' property dive happens when the left are in power. this is only to be expected.
Back to top	Modern Classic Right Wing IP Logged

Lisa Jones

Gold Member

Offline

Australian Politics

Posts: 39047
Sydney
Gender: female

Re: 'Worst ever' property dive after disasters
Reply #35 - Mar 2^nd, 2011 at 12:30pm

Sir lastnail wrote on Mar 2^nd, 2011 at 12:12pm:

Lisa Jones wrote on Mar 2^nd, 2011 at 8:54am:

They were talking about this on the radio the other day. A woman rings up and says that her and her husband have a good job in the police force and earn about 80K each. The bank is willing to lend them 400K to buy a house so they go off to auction after auction expecting to pay near the reserve price and along comes a china man out of the blue and out bids them by a 100K Sad

It must be a really good feeling that you have lived here all of your life and payed rip off taxes only to be made to feel like a second rate citizen by having to compete against a foreigner who has contributed bugger all taxes here and gets a much cheaper loan from a chinese bank Sad

You can thank kevin dudd for letting them in by the truck load. We really didn't need any more chinese property speculators or shop keepers in this country peddling more made in china junk

- Last Nail

The media example you've highlighted is typical and nothing new.

(Umm 400K for a house ??? That's impossible in the Sydney property market. An old knock down job on half decent land is going to easily cost you 800K today if you're talking Sydney market)

Anyway .. the problem is .. the phenomenon you've described is rampant and well recognised esp at the middle to higher end of the domestic real estate market (where most cashed up Aussies aged 30 and over are located).

Last Nail .. I was thinking about this topic early this morning .. you know it kinda reminds me of what's happening in our tertiary education industry (places are going to foreign students at an alarming rate .. at the expense of domestic students).

Hmm I wonder what Andrei has to say about all this?

No doubt he's going to start talking about how necessary these govt backed measures are in order to make Oz attractive to foreign investors .. sighs.

yes this is true about education as well. We are selling out local students in favour of full fee paying foreign students.

I know a person who lives here who got knocked back on a first round offer on a post grad course at Uni because they didn't complete their high school in Australia whilst at the same time the course is full of foreign chinese students who can't speak english to save their life !! Their computers have a chinese version of Windows and they have to continually use an english to chinese dictionary Sad

WTF is going on here ??

Well Last Nail .. this is how I see it ... our Fed govt has seen fit to sell education AND land opportunities IN FAVOUR of overseas applicants. In short .. Aussies are being deliberately excluded.

It doesn't seem fair does it? And I think you're right .. it isn't.

Back to top

If I let myself be bought then I am no longer free.

HYPATIA - Greek philosopher, mathematician and astronomer (370 - 415)

IP Logged

Sir lastnail

Gold Member

Offline

Australian Politics

Posts: 30900
Gender: male

Re: 'Worst ever' property dive after disasters
Reply #36 - Mar 2^nd, 2011 at 1:34pm

Lisa Jones wrote on Mar 2^nd, 2011 at 12:30pm:

Sir lastnail wrote on Mar 2^nd, 2011 at 12:12pm:

Lisa Jones wrote on Mar 2^nd, 2011 at 8:54am:

They were talking about this on the radio the other day. A woman rings up and says that her and her husband have a good job in the police force and earn about 80K each. The bank is willing to lend them 400K to buy a house so they go off to auction after auction expecting to pay near the reserve price and along comes a china man out of the blue and out bids them by a 100K Sad

It must be a really good feeling that you have lived here all of your life and payed rip off taxes only to be made to feel like a second rate citizen by having to compete against a foreigner who has contributed bugger all taxes here and gets a much cheaper loan from a chinese bank Sad

You can thank kevin dudd for letting them in by the truck load. We really didn't need any more chinese property speculators or shop keepers in this country peddling more made in china junk

- Last Nail

The media example you've highlighted is typical and nothing new.

(Umm 400K for a house ??? That's impossible in the Sydney property market. An old knock down job on half decent land is going to easily cost you 800K today if you're talking Sydney market)

Anyway .. the problem is .. the phenomenon you've described is rampant and well recognised esp at the middle to higher end of the domestic real estate market (where most cashed up Aussies aged 30 and over are located).

Last Nail .. I was thinking about this topic early this morning .. you know it kinda reminds me of what's happening in our tertiary education industry (places are going to foreign students at an alarming rate .. at the expense of domestic students).

Hmm I wonder what Andrei has to say about all this?

No doubt he's going to start talking about how necessary these govt backed measures are in order to make Oz attractive to foreign investors .. sighs.

yes this is true about education as well. We are selling out local students in favour of full fee paying foreign students.

I know a person who lives here who got knocked back on a first round offer on a post grad course at Uni because they didn't complete their high school in Australia whilst at the same time the course is full of foreign chinese students who can't speak english to save their life !! Their computers have a chinese version of Windows and they have to continually use an english to chinese dictionary Sad

WTF is going on here ??

Well Last Nail .. this is how I see it ... our Fed govt has seen fit to sell education AND land opportunities IN FAVOUR of overseas applicants. In short .. Aussies are being deliberately excluded.

It doesn't seem fair does it? And I think you're right .. it isn't.

Yes we educate the foreigners to eventually put us out of business in exchange for a quick grab for cash Sad

also add to the list the agriculture land being sold off to foreign corporations Sad

just shows you that governments from either side will not think twice about selling out the locals in exchange for a fist full of dollars Sad

that's what dudd must have meant when he was talking about the "Australian fair go". Us locals paying all of the tax whilst foreigners walk in and scoop the cream off the cake Sad

Back to top

"If you take out Saddam, I guarantee you that it will have enormous positive reverberations on the region..." - Benjamin Netanyahu in 1995

IP Logged

Sir lastnail

Gold Member

Offline

Australian Politics

Posts: 30900
Gender: male

Re: 'Worst ever' property dive after disasters
Reply #37 - Mar 2^nd, 2011 at 2:04pm

Lisa Jones wrote on Mar 2^nd, 2011 at 12:30pm:

Sir lastnail wrote on Mar 2^nd, 2011 at 12:12pm:

Lisa Jones wrote on Mar 2^nd, 2011 at 8:54am:

They were talking about this on the radio the other day. A woman rings up and says that her and her husband have a good job in the police force and earn about 80K each. The bank is willing to lend them 400K to buy a house so they go off to auction after auction expecting to pay near the reserve price and along comes a china man out of the blue and out bids them by a 100K Sad

It must be a really good feeling that you have lived here all of your life and payed rip off taxes only to be made to feel like a second rate citizen by having to compete against a foreigner who has contributed bugger all taxes here and gets a much cheaper loan from a chinese bank Sad

You can thank kevin dudd for letting them in by the truck load. We really didn't need any more chinese property speculators or shop keepers in this country peddling more made in china junk

- Last Nail

The media example you've highlighted is typical and nothing new.

(Umm 400K for a house ??? That's impossible in the Sydney property market. An old knock down job on half decent land is going to easily cost you 800K today if you're talking Sydney market)

Anyway .. the problem is .. the phenomenon you've described is rampant and well recognised esp at the middle to higher end of the domestic real estate market (where most cashed up Aussies aged 30 and over are located).

Last Nail .. I was thinking about this topic early this morning .. you know it kinda reminds me of what's happening in our tertiary education industry (places are going to foreign students at an alarming rate .. at the expense of domestic students).

Hmm I wonder what Andrei has to say about all this?

No doubt he's going to start talking about how necessary these govt backed measures are in order to make Oz attractive to foreign investors .. sighs.

yes this is true about education as well. We are selling out local students in favour of full fee paying foreign students.

I know a person who lives here who got knocked back on a first round offer on a post grad course at Uni because they didn't complete their high school in Australia whilst at the same time the course is full of foreign chinese students who can't speak english to save their life !! Their computers have a chinese version of Windows and they have to continually use an english to chinese dictionary Sad

WTF is going on here ??

Well Last Nail .. this is how I see it ... our Fed govt has seen fit to sell education AND land opportunities IN FAVOUR of overseas applicants. In short .. Aussies are being deliberately excluded.

It doesn't seem fair does it? And I think you're right .. it isn't.

Yes we educate the foreigners to eventually put us out of business in exchange for a quick grab for cash Sad

also add to the list the agriculture land being sold off to foreign corporations Sad

just shows you that governments from either side will not think twice about selling out the locals in exchange for a fist full of dollars Sad

that's what dudd must have meant when he was talking about the "Australian fair go". Us locals paying all of the tax whilst foreigners walk in and scoop the cream off the cake Sad

Back to top

"If you take out Saddam, I guarantee you that it will have enormous positive reverberations on the region..." - Benjamin Netanyahu in 1995

IP Logged

bridonta

Gold Member

Offline

Australian Politics

Posts: 522

Re: 'Worst ever' property dive after disasters
Reply #38 - Mar 2^nd, 2011 at 6:24pm

yes it's a mad mad world .. all in the hands of filthy greedy people and shareholders .. same thing happened in south east Asia where most of the food in the world come from .. poor people were forced to sell off their lands at cheap prices .. and those greedy developers just grab all and build this and that .. trying to sell back with big margins .. then what happen next .. farmers lost most of their lands .. farming lands get smaller .. everyday ... then when the food crisis come ... it's the revolution like in the ME .. all about rise in food and energy

Back to top

IP Logged

Bobby. Gold Member Offline Australian Politics Posts: 117563 Melbourne Gender:	Re: 'Worst ever' property dive after disasters Reply #39 - Mar 2^nd, 2011 at 6:41pm Lisa. Quote: but also against other foreigners who have been allowed in (and who can access more funds at 1/3- 1/2 of the interest rates you can). Hi Lisa, Is it possible for you to borrow money from overseas for a mortgage here? If not why not? You could get a lower rate of interest!
Back to top	IP Logged

Life_goes_on

Gold Member

Offline

Posts: 4772
400kms south of Yobsville, Qld
Gender: male

Re: 'Worst ever' property dive after disasters
Reply #40 - Mar 2^nd, 2011 at 6:52pm

You people do realise that to buy property in Australia you need to at least have temporary residency, have the purchase pre-approved by the Government and that you're forced to sell the propertiy when you leave Australia?

The laws were relaxed two or three years ago, but they were tightened up again early last year.

Back to top

"You're just one lucky motherf-cker" - Someone, 5th February 2013

Num num num num.

IP Logged

Bobby.

Gold Member

Offline

Australian Politics

Posts: 117563
Melbourne
Gender: male

Re: 'Worst ever' property dive after disasters
Reply #41 - Mar 2^nd, 2011 at 7:00pm

Life_goes_on wrote on Mar 2^nd, 2011 at 6:52pm:

You people do realise that to buy property in Australia you need to at least have temporary residency, have the purchase pre-approved by the Government and that you're forced to sell the propertiy when you leave Australia?

The laws were relaxed two or three years ago, but they were tightened up again early last year.

No - I didn't know that.
Do you have a link?

Back to top

IP Logged

Life_goes_on

Gold Member

Offline

Posts: 4772
400kms south of Yobsville, Qld
Gender: male

Re: 'Worst ever' property dive after disasters
Reply #42 - Mar 2^nd, 2011 at 7:16pm

Quote:

Clampdown on foreigners buying property

April 24, 2010
.AAP

The federal government will again require temporary residents to sell their houses when they leave the country following mounting complaints about foreigners driving up prices.

Travel details and ownership data will be matched to catch cheats, and the public will have a new hotline - 1800 031 227 - to dob in foreigners they suspect of breaches.

Those leaving Australia must sell their properties and the government will claw back any capital gains made by foreign investors who breach the arrangements. Real estate agents will face new penalties under civil law that are being developed.

Assistant Treasurer Nick Sherry issued a statement on Friday night saying he would reinstate restrictions on foreign property investment scrapped in 2008 and impose new measures and tougher penalties to further tighten the system and improve compliance.

"The Rudd government is acting to make sure that investment in Australian real estate by temporary residents and foreign non-residents is within the law, meets community expectations and doesn't place pressure on housing availability for Australians," Senator Sherry said.

"The new provisions announced today will mean that anyone trying to flout Australia's strict foreign investment rules will face tough new penalties that will be fully enforced."

Treasury is reportedly investigating 50 cases of suspicious residential property purchases by foreigners in Melbourne, contributing to rising property prices.

Under reinstated regulations, temporary residents and foreign students will be screened by the Foreign Investment Review Board to determine if they will be allowed to purchase a property.

Foreign residents without temporary visas cannot buy existing houses, and may buy property only if it adds to the housing stock.

If buying land, they must build within two years or sell it to stop "land banking".

http://news.smh.com.au/breaking-news-national/clampdown-on-foreigners-buying-pro...

Back to top

"You're just one lucky motherf-cker" - Someone, 5th February 2013

Num num num num.

IP Logged

Ex Dame Pansi

Gold Member

Offline

Australian Politics

Posts: 24168

Re: 'Worst ever' property dive after disasters
Reply #43 - Mar 2^nd, 2011 at 7:39pm

Life_goes_on wrote on Mar 2^nd, 2011 at 6:52pm:

You people do realise that to buy property in Australia you need to at least have temporary residency, have the purchase pre-approved by the Government and that you're forced to sell the propertiy when you leave Australia?

The laws were relaxed two or three years ago, but they were tightened up again early last year.

It stands to reason, just because a person "looks Egyptian", doesn't mean they just wandered out of their pyramid and parked their camel outside the auction rooms.

We respectfully require a passport inspection next time a suspicious looking alien bids lol

Back to top

"When the power of love overcomes the love of power, the world will know peace." Hendrix
andrei said: Great isn't it? Seeing boatloads of what is nothing more than human garbage turn up.....

IP Logged

qikvtec

Gold Member

Offline

Australian Politics

Posts: 1846
Queensland

Re: 'Worst ever' property dive after disasters
Reply #44 - Mar 2^nd, 2011 at 7:44pm

Ex Dame Pansi wrote on Mar 2^nd, 2011 at 7:39pm:

Life_goes_on wrote on Mar 2^nd, 2011 at 6:52pm:

You people do realise that to buy property in Australia you need to at least have temporary residency, have the purchase pre-approved by the Government and that you're forced to sell the propertiy when you leave Australia?

The laws were relaxed two or three years ago, but they were tightened up again early last year.

It stands to reason, just because a person "looks Egyptian", doesn't mean they just wandered out of their pyramid and parked their camel outside the auction rooms.

We respectfully require a passport inspection next time a suspicious looking alien bids lol

Exactly what I was getting at in my previous post. What does an Aussie look like?

Back to top

Politicians and Nappies need to be changed often and for the same reason.

One trouble with political jokes is that they often get elected.

Alan Joyce for PM

IP Logged