Treasurer Jim Chalmers said ‘there are too many properties empty around Australia’ as tight supply leaves many renters struggling to find somewhere to live.
That was a temporary 2 year ban on foriegn buyers, but it was too little too late. They already injected too much money and equity in to the market. I’m sure there’s a way around it too. Corporations can still buy property. And once the ban is lifted it’s back to normal and the prices are still fucked even with the temporary ban.
Foreign students that pay atleast twice the tuition that local students do. And also roll up in luxury vehicles. You think those students don’t also have big expensive houses?
That was a temporary 2 year ban on foriegn buyers, but it was too little too late. They already injected too much money and equity in to the market. I’m sure there’s a way around it too. Corporations can still buy property. And once the ban is lifted it’s back to normal and the prices are still fucked even with the temporary ban.
Temp residents, including students, also aren’t included in the temporary ban which makes it basically useless
Ah yes, the true cause of the preposterous housing market… college students.
My point was about foreign investors avoiding the ban through international students
Foreign students that pay atleast twice the tuition that local students do. And also roll up in luxury vehicles. You think those students don’t also have big expensive houses?
https://www.huffpost.com/archive/ca/entry/students-own-over-57m-worth-of-ritzy-vancouver-real-estate-say_n_12032930
They are either “students” or are being funded their parents. Either way they are complicit.
So they will just create local shell companies. Didn’t solve any problem.