When losing investment for home owning chink is painful its is not the end of the world. But for aussie who lives in teh mortgaged house it may end as catastrophe. 85% of Aussies mortgages are adjustable rate mortgages, if their houses price flop and rates rise they will found themselves in the debt they can't pay and can't refinance.
Ausfalia Housing Market Is Four Times the Size of Economy
James Stewart
Jordan Wilson
So how much time is left before the emus take over?
Jackson Jones
Are there squatter’s rights in Australia. If there are … you know what to do…
Henry Green
Thanks for the dirty money, chinks. You can fuck off now though.
Easton Martinez
Melbourne Squatters Guide 2010:
0bin.net
Justin Davis
You know all those debts rich people are constantly taking on? They earn money constantly. They can get away with leveraging for the short-term at long-term rates. So what do you think they do if they've got cash and want to get rid of the interest drain on their accounts? If they fork over the money all at once, banks charge them penalties. That's expensive. So they find some schlub who will take over the interest payments instead. Rich people debts turn into houses. A few hundred thousand here, a million and change there. It drains the money from all the people who think they might have a chance of moving up in the world and helps line the pockets of the ones who don't want status competition.
I made this up. It's pure fiction this time. If any of it was right, it was an accident, I swear.
Leo Williams
C H Y N A
H
Y
N
A
Joshua Howard
My first thought.
China isn't playing the same game Western investors/bankers are: they are thinking long-term about regional/global domination, as evidenced by their One Belt One Road Initiative, as well as their latest tactic of building artificial islands in order to extend their territorial claim, et al.
They are looking toward a future where they have supplanted the US as the world's main superpower, and they're not above playing dirty to achieve that end, to which, suffering an initial loss in order to tank the Australian economy so they can come in and buy everything at fire sale prices would make perfect sense.
(pic related)
Chase Rodriguez
Well, you're hitting the right direction but your fiction has the money in the wrong place. The health of the economy is actually complete shit atm. I know quite a few contractors who were partially paid in literal houses by their principal contractors or clients in development projects. Since no one local actually has the cash to buy new houses or the will to rent a large new house meaning the best they can do to survive it either refinance the empty houses and hope for the best, sell the land alone (land titles are always in demand, especially with a house on it for free because that makes the land tax much cheaper in certain countries) or request that the houses they are given are in the same lot so that they can then just refuse to build a house there and just get the land in order to rope some other poor shmuck into financing a commerical lot
The west isn't seeing the economic desperation China is in their efforts to build literal ghost towns, but we're getting there.
Anthony Morales
the reason the housing market is in as big a bubble as it is is because China bought up the entire country already