New Zealand is banning foreign home buyers

[LatFlare]

Australia and Canada should follow suit unless they want to get taken over by the Chinese. Lol, there’s already street signs in chinese in Australia.

There are restrictions now on Chinese buyers but they can't change the rules too drastically or the house prices will tank.

 

[xcvbn]

Good on NZ. Hopefully they did it in time.

The US Government has already allowed the Chinese to buy $2T worth of residential property. It's far too fucking late for our country. Our kids and grandkids will all be paying rent to Chinese by the end of the century.

 

[LatFlare]

I want to make a Flight of the conchords joke but nothing fits.

Great post tho.......

 

[Clear Winner]

I love it. Hope they do that in the US too.

Isn't people going to America and building/buying property and land kind of what America has always been about?

 

[YoungBoyd]

So should Uk, France, Netherlands, Spain, Germany etc. At least in the famous cities.

 

[MicroBrew]

Yea man, fuck cost of living here is horrible. Mainlanders don't understand why lots of children live with there parents with well into there late 20s. I live in the guest house on my grandfathers land. Lol I like it though.

You far away from the mainland US, and being an Island with no manufacturing, everything has to be flown or shipped in. You are still cheaper than Barrow Alaska.

 

[Mark Hunts FIST]

A piece of shit wooden (probably single wall) house on less than ideal land costs nearly $1 mil. The house probably needs to be demolished due to termites or something. In the meantime, I see real estate agents wearing lots of bling bling driving expensive European luxury cars.

An old condo costs like half a mil and you also get to pay like $500-$1,000 per month maintenance fees.

Time to go off the grid.


I just saw some show where this white family lives off the grid in Hawaii...like literally in the jungle.
Is that common?

 

[Dave Poodle]

Isn't people going to America and building/buying property and land kind of what America has always been about?

This is aimed at people who live in China and buy up housing in foreign markets as an investment. They don't live in the properties and often don't even put them on the rental market. It's not providing a home for anyone, just putting upward pressure on housing prices.

 

[WhitebeltXL]

I'd support this in the UK, get rid of non-resident Landlords with massive portfolios of properties.

 

[Goonerview]

The UK has too many foreign investors buying everything up off plan.

They're converting some old mill buildings near me into loft style apartments. I tried to book a viewing to look into buying but it was all bought up off plan mostly by foreign investors to turn into rental properties.

The UK's high streets also seem to be declining. I went out to a high street recently and it was full of "closing down" stores and "to let" empty buildings.

They seem to be building more flats in order to cram as many people into as small a space as humanly possible.

 

[Goonerview]

There are restrictions now on Chinese buyers but they can't change the rules too drastically or the house prices will tank.

Why don't we just let the house prices go down??

It's unsustainable to think they are going to grow forever...

 

[MarloStanfield]

I always wanted to check out New Zealand.
Thought about moving there about a decade ago.

Good for them tho.
I have no problem with that.
Most countries could benefit from a policy like this.

you should check it out, theres no kiwis there they all moved to Australia

 

[HIMBOB]

Just tax it imo.

Largely they have put in such rules and it's worked to stem the tide.

 

[Clear Winner]

This is aimed at people who live in China and buy up housing in foreign markets as an investment. They don't live in the properties and often don't even put them on the rental market. It's not providing a home for anyone, just putting upward pressure on housing prices.

I know that, they've been doing it in London too, but I'm not so sure some of the people in this thread do.

 

[MiniCraque]

I wouldn't be surprised if there are some chinese signs here with the massive amount of chinese tourists we get but pretending like they're there because we're being taken over rather than the massive amounts of tourists is pretty laughable.

Not to mention it would make no sense to have street signs in Chinese because of foreign home buyers. They aren't really in the country, y'know. Why would they need street signs? Dude was just talking out of his ass.

 

[MiniCraque]

I know that, they've been doing it in London too, but I'm not so sure some of the people in this thread do.

Prime real estate in London is a Russian money laundering scheme.

I hear it's getting better now that the government is cracking down on it, but it'll probably take a while.

 

[Clear Winner]

Prime real estate in London is a Russian money laundering scheme.

I hear it's getting better now that the government is cracking down on it, but it'll probably take a while.

Yep.

Depressing to know that we have so many homeless in London (it really is getting out of control) yet the Russians and Saudis own massive mansions that are unoccupied and dilapidated.

https://www.theguardian.com/society...-billionaires-row-derelict-mansions-hampstead

One property owner, the developer Anil Varma, has complained that the address has become "one of the most expensive wastelands in the world". At least 120 bedrooms are empty in the vacant properties.

The empty buildings include a row of 10 mansions worth £73m which have stood largely unused since they were bought between 1989 and 1993, it is believed on behalf of members of the Saudi royal family.

 

[bref]

Canada should have done this 10 years ago. My cost of living is absolutely fucked thanks to ultra-wealthy Chinese hiding their money here in empty 10 million dollar homes.

 

[Protectandserve]

Hawaii should do that so ordinary working class can buy a decent home for less than one fucking million dollars.

Same with CA. There are huge chunks of the OC area that are majority Chinese nationals as buyers right now.

 

[tonni]

Haha!
Same.
Also the fashion one used to get caught in my brain all the time.

Oh my, worked so much I forgot about that one. F-f-ffashhion