A P.R.C. economic upheaval? Chinese investors spent $24 billion dollars on Australian real estate in the last year. The figure, put together by Chinese property listing site Juwai.com using data from the Foreign Investment Review Board, is up almost a third again from the previous financial year, when it was $18.4 billion. Sue Jong, Chief of Operations for Juwai.com, said Chinese investment in foreign real estate worldwide is forecast to exceed $100 billion by the end of the year. It is estimated that there are around 200,000 empty homes in Sydney. No wonder our property market is overpriced and unavailable
Bubble Trouble Recently we are hearing more and more talk about the inevitable eventuality of a possible ‘housing bubble’. A concerning fact is that household debt from mortgage repayments to other essential family consumption in the form of credit card induced debt is escalating at an alarming rate because bills are becoming harder and harder to meet when the increased price of essential services, the burden of a family’s regular increases in the cost of private health insurance premiums added to the greater expense that recently privatised energy providers’ fee rises have stressed one’s brood whilst permanent employee after
Housing UN-Affordability in Australia Previously we wrote about the government’s inability to satisfactorily resolve the power crisis in Australia. Housing affordability is another example of social crises affecting millions of Australians. The dream of owning your own home is well beyond the reach of the majority of first home buyers within Sydney whose median home prices are creeping well beyond $660,000. These prices are also reflected in the residential rental market with a shortage of affordable properties. The alarming outcome from this growing problem is that the government is offering no effective solution to rectify the situation. Once again
Do you agree with negative gearing? Well presented and easily understood segment on the topic. So can you afford to buy into the housing market and should negative gearing be scrapped?
Housing affordability Australian Housing affordability has been undermined by the major parties. Though the terms of the Baird and Abbott/Turnbull Governments there has been a housing development boom coinciding with skyrocketing house and unit prices. Very many of the new homes have been built for foreign investors. In his book “The unfair Trade”, Michael Casey mentions similar situations overseas where undisclosed mainland Chinese buyers purchased properties which were left unoccupied. Most of the big spending Chinese were not investing to live there, nor even to earn rental income, but for capital appreciation. We have been told by the major