Monika Tu … ‘Black Diamondz’ feels Chinese Property Buyers can get picked on

Foreign Buyers have continued to flock to Australia during the Pandemic … not in as many numbers … but they have not only been coming from China’s ‘Mainland’ but Singapore and Hong Kong too!

It is not just Harbourside Mansions they seek … or the Upper North Shore … and the Elite Eastern Suburbs but High-Rise PRECINCTS across Sydney Town … built specifically for this foreign buyer market!

Take a wander or a drive and see for yourself …

… Meadowbank Top Ryde North Ryde Macquarie Park Wentworth Park Rhodes!  It goes forever! Melrose Park, and heaps more! These precincts are largely owned and occupied by Chinese people.

It is reported there are only 1.2 Million Chinese people here … how credible? Very outdated reports.

HOW many more times do we have to read this from Monika Tu?

She said key drivers were lifestyle, education and business prospects.

‘And despite the Covid pandemic, she said her business – which has an annual turnover of $200m – “keeps growing”.’

WHAT does Australia’s stable political environment, strong economy and good education amount to?

In fact underlying all that Ms Tu speaks of Australia’s real estate market is awash with ‘Black Money’ … much of it coming from China …

READ MORE!

‘Who are Pushing Back Against Tranche 2 Anti-Money Laundering Laws?

https://bit.ly/3Ce9kGC

Would these attractions be about the access gained by wealthy Chinese business people having not only acquired residential property to gain Permanent Residency, but also investing in commercial businesses, and access to either free education or the opportunity to send their children to ‘private schools’. 

Obviously this huge influx has led to much competition not only for our housing market, but also investment in business!  And contemplate the consequences …

Apparently Chinese homebuyers allege they ‘are getting picked on’ yet Ms Tu ‘notes the attractiveness of a friendly community’ … ?

Yes, they like what we have …. Or is that what we had?

The proximity to their China and clean air … here for the time being …

– Ms Tu also addresses a “misunderstanding” around the influx of wealthy Chinese property purchasers. And rejects that her clients and numerous others are taking opportunities away from Australians … well how good was it before this huge influx?

It was very good! Before ‘Visa workers’ we had Award Wages and conditions … and 70% home ownership among Australians …

The only competition for housing was a more sustainable 70,000 permanent migrants arriving annually … not Hundreds of Thousands with a temporary Visa to exchange for Permanent Residency after buying our real estate …

IS it any wonder ‘Chinese love the properties’?  And continue to buy up Australia because they can …

The Morrison Government has facilitated this … influenced by the developer lobby groups, The Property Council of Australia, The Urban Taskforce and others …

The Foreign Investment Review Board (the FIRB) is the avenue through which this all takes place.  It was around 2008 that an FIRB ruling allowed developers to sell 100% of ‘new homes’ to foreign buyers .. not content with providing housing for the incumbents they looked to the overseas market particularly of China with its 1.4 Billion people …

With the Howard Government the Middle Class Chinese were lured to buy our real estate and/or education to gain ‘Flexible Citizenship’ which led to a Housing Boom in the early 2000s … 2004!

And so it has continued … increasing the supply of housing for the ‘foreign demand’ locking out Australians …

The increased supply of ‘new housing’ is for foreign buyers … it is not for the Australian home buyer …

Aspiring First Home Buyers had a brief look-in with the Pandemic … those that had wealthy parents to back them …

WHY is it that there have been so many reports of Australians ready with a deposit and/or ‘cash buyers’ unable to secure a sale for 12 months or more?  Having spent every weekend attending auctions with 100 or more around them competing …

Let alone the stories untold!

The International competition for Australian Homes, it appears, began when the FIRB was established in 1976 during the Liberal Fraser Government to advise the Treasurer and the Government on Australia’s foreign investment policy, and its functions are only advisory. The responsibility for making decisions on Policy and Proposals rests with the TREASURER!

Thus it would seem that the Property Sector and the Government of the Day ‘work hand in glove’ ….

SEARCH for ‘Chapter 2: Regulation of Foreign Investment in Housing’


The Spin

‘Australia’s overall foreign investment policy usually encourages overseas buyers to purchase residential property and, as a result, increase the supply of new housing.

Without foreign investment, many new building projects would become unviable.’

Many of us still remember Meadowbank, Top Ryde, North Ryde, Macquarie Park, Wentworth Park, Breakfast Point, Rhodes, and Melrose Park low-rise residential, and/or commercial/industrial areas where our communities lived and worked before storey upon storey deve-lopers made a motza selling overseas … that’s how viable these high-rise precincts are for deve-lopers.

Australians have had no say about high immigration through the backdoor of property investment … a consequence of lobbying and political donations …

We doubt very much the Chinese having gained residency are at all concerned … more likely they are well pleased … smug even …

The FIRB reported a drop in Chinese investment in 2019 due to the Pandemic however with so many having flown here over the past two decades and acting as Permanent Resident Onshore Proxies … perhaps we will never know how much Chinese investment has occurred?

And Ms Tu says that since the Pandemic her business keeps growing!

READ MORE!

‘Real estate: Chinese homebuyers ‘are getting picked on’

https://www.news.com.au/finance/real-estate/buying/real-estate-chinese-homebuyers-are-getting-picked-on/news-story/479bf0c331c794a9a759a79e4eb865ab

CAAN Takes a Look at: ‘Hong Kong firm Far East Consortium’s Mortgage Arm Eyes Market DownUnder, acquires Stake in Local Non-Banking Lender’

 

What is behind this 53% stake in the Australian NON-BANKING LENDER, Mortgageport? 

 

Key Points …

-the mortgage arm of Far East Consortium now has 53% stake in Aussie non-banking lender Mortgageport

-to create new revenue streams and to allow the developer to earn more from provision of capital; create a new earning stream for the group and to unlock the significant value hidden within
the group’s property portfolio

-BC Invest (FEC’s mortgage arm) hopes to expand in Aust domestic mortgage market; that banks have not focused on

-this Hong Kong company provides non-resident mortgages, asset management and accounting

-it is anticipated that the new capital and funding support will allow Mortgageport to triple its assets within a few years; and establish it as one of the top three non-banking mortgage managers
in Aust. domestic market

-the plan to leverage growth in its existing markets; to use infrastructure and resources to capitalize in A$2 Trillion domestic mortgage market

-BCI maintains its non-resident mortgages to be supported by adding domestic mortgages; non-banking lenders account for 10% of the market share in Aust. Domestic mortgages

-a surge of Hong Kong buyers for property in the UK, Australia and Canada

.those buying Australian property mostly opt for non-banking lenders   

WOULD that be because these lenders are not bound by the Banks Anti-Money Laundering Laws? (the second tranche of the AML Laws)?

Not surprising, is it?  When on ABC Radio (news radio) heard an interview with the CEO of Transparency International about its submission to an inquiry about:

-money laundering particularly in property

-the failure of our controls legislation

-who’s doing it here?   

View Related Article:  ‘Widespread Money Laundering in Property Locking Out Australians from Owning Homes, Senate told’

The Senate is probing the strength of Australia’s money-laundering and counter-terrorism financing laws, and heard on Tuesday from anti-corruption group Transparency International Australia and its director, former Austrac general counsel Russell Wilson.*

AND …

Transparency International Australia’s chief executive, Serena Lillywhite, said Australia had become the “destination of choice” for the flow of illicit funds, particularly for “corruption-related proceeds, which too often do end up in the property market”.

THIS is very good from Transparency International, but whether any headway will be made is another question after all SCOMO said it today … he doesn’t believe in compulsory rules (unless it suits them) i.e. in his statement about electric vehicles and the comparisons being made to the SHORTEN Policy … that he’s now largely copying … 

READ MORE!

https://www.scmp.com/business/companies/article/3155329/hong-kong-firm-far-east-consortiums-mortgage-arm-eyes-market

 

 

 

 

What lies behind the Real Scandal in the Pandora Papers?

ALAN KOHLER writes in ‘The Real Scandal in the Pandora Papers’

‘The most disturbing part of the Four Corners program this week about the PANDORA PAPERS leak was the statement by Greens Senator Peter Whish-Wilson that lobbying and donations by lawyers, accountants and real estate agents have successfully blocked any action on money laundering in Australia.

CAAN:  Sadly this is true!

HOW did this ‘Pushback’ happen?  Lobbying by the Real Estate Institute and the Law Council!   

It appears the gatekeepers dodged the responsibility by passing the buck when then President of the Real Estate Institute of Australia, Adrian Kelly said that others should also bear the regulatory burden.

“We are working with government on an approach that minimises the impact on agents because much of the information can be sought from others involved in the transaction process, including the banks and their conveying process,” he said.

When it was unlikely that funds were being transferred through the Australian Banking system, but rather through black cash, shadow banking and wire transfer of the money to an offshore bank account in a tax haven to be laundered in Casinos and Australian Real Estate!

Experts say tens of billions of dollars would have been moved from China to Australia by Chinese kleptocrats, as corrupt officials attempt to park their funds in a safe jurisdiction. 

President of the Law Council of Australia Arthur Moses, SC, said their profession was already extensively regulated by the states and territories under a comprehensive and robust regulatory system.

“The Law Council is concerned that imposing the full AML/CTF regulatory regime may create conflicts with the lawyer’s duty of confidentiality and the principle of client professional privilege, as well as increasing the cost of legal services to the community,” he said.

IS that credible?

WHY is it with the purchase of real estate there should be some difference compared to buying or selling a vehicle, why is it different?

Why is it difficult to apply laws to the purchase of real estate?

Why is that compromising a lawyer?  Why should real estate be any different to any other matter?

If there are laws governing real estate so be it.  It should not make any difference to a lawyer. If lawyers have a matter before them that involves a crime they have two choices:

-do it for their client knowing their risk

-not do it

IT was the Morrison Government that exempted the Real Estate Gatekeepers in October 2018!

Read more!

‘Real estate agents, lawyers and accountants to avoid money laundering laws’

https://www.afr.com/companies/financial-services/real-estate-agents-lawyers-and-accountants-to-avoid-money-laundering-laws-20181008-h16dcd

IN fact the second tranche of the Anti-Money Laundering Laws applicable to the Real Estate Gatekeepers (real estate agents, lawyers, and accountants ) was shelved back in 2006 … so it sat there until October 2018 when the Morrison Government exempted these gatekeepers from the AML Laws unlike the Banks!

Alan Kohler writes …. ‘ …. and both major parties apparently complying, is both sadly believable and shameful.’

The Federal Labor Party failed to implement and enforce the second tranche during its term from 2007 to 2013.  But nor did the Liberal Coalition implement the second tranche for the gatekeepers from 2013 to date 2021! 

In the lead-up to the 2019 Election in February 2019 Shadow Treasurer, Chris Bowen promised to make cross-border financial crime a pillar of Labor’s election campaign in wake of the Hayne royal commission, including pledging to reverse cuts to the Australian Federal Police and Australian Securities and Investments Commission.

Treasurer Josh Frydenberg in response also flagged additional funding in the April 2 budget for the financial regulators including ASIC, and it is understood  they were to commit additional money and staff for the Australian Transaction Reports and Analysis Centre.

Labor’s pledge came amid concerns over private-sector “bounty hunters” acting for China to recoup the proceeds of financial crime and corruption funnelled into Australia’s property market.

The Morrison government promised to pass new anti-money laundering laws in 2018, but they were yet to pass Parliament, granting lawyers, accountants and estate agents a reprieve.!!

Mr Bowen promised to go further, but the industry signalled a fight.

“The government has completely dropped the ball on money laundering reform. According to the government’s own work plan, real estate agents should already be covered by our money laundering laws. The Liberals have done nothing to progress this,” Mr Bowen said.

“The Liberals aren’t interested in prosecuting serious financial crime,” he said. “They cut funding to ASIC, they planned to cut funding to the Serious Financial Crime Taskforce and they ripped hundreds of millions of dollars out of the Australian Federal Police, who work with our partners abroad to disrupt transnational organised crime,” the shadow treasurer said.

Read more!

‘Labor to Target Lawyers Accountants Real Estate Agents’

https://www.afr.com/companies/labor-to-target-lawyers-accountants-real-estate-agents-20190224-h1bnd3

The Liberal party pursued a very dirty ‘Labor Taxes’ Campaign … AND here we are now!

With a property BOOOM that has locked out both First Home Buyers and Sellers!

Alan Kohler writes ‘Inaction on both sides’. 

Last December, the government put forward a minor amendment to the AMLTCF law and the Greens used it to put up a further amendment requiring that second tranche to be legislated by July 1 this year.

Both major parties voted against it.

PERHAPS Labor has another plan … because it was so open prior to the 2019 Election it is not now going to follow the same path … ?

In announcing Labor’s vote, Senator Kimberley Kitching said: “While we support the intent of the additional designated services proposed by the Greens, Labor does not believe this is the right way to achieve considered law reform. We are concerned about the unintended consequences of this amendment and want to make sure our counterterrorism financing laws make it harder, not easier, for money launderers or terrorist financiers.”

According to the Greens’ Treasury spokesman, Senator Nick McKim, “Australia is now one of only six countries in the world not to have included the gatekeepers within the scope of anti-money laundering and counterterrorism financing laws”.

The others are the United States, China, Madagascar, Mauritius and Mongolia.

MANY of us question what benefits are there for us with a Foreign Investment Review Board running, it appears, contrary to our interests, with so much competition, and much of it hidden, for our Property (residential, commercial and agricultural)? 

The Morrison Government in exempting the Real Estate Gatekeepers from the AML Laws has allowed this competition to flourish locking out even more Australians from owning a home in their own country as the gatekeepers prosper even more.  With Agents working buyer against buyer, and some hidden, to bid up prices as Australian buyers are left to languish on the sidelines.

DESPITE there having been all too numerous reports on money raised in China through real estate and bank loan fraud …

And the AFP has alleged the proceeds of crime have been used to purchase or develop properties in Australia

The Paris based Financial Action Taskforce (FATF) found that Australian homes are a haven for laundered funds, particularly from China.

Transparency International ranked Australia as having the weakest anti-money laundering laws in the Anglosphere; failing all 10 priority areas.

The OECD Working Group on Bribery in International Business Transactions claimed the entire ecosystem for the buying and selling property using cross-border fund flows is beyond the reach of Australian regulators!

Read more!

AFP Melbourne Tasmania Property alleged Chinese Money Laundering’

https://mobile.abc.net.au/news/2019-10-31/afp-melbourne-tasmania-property-alleged-chinese-money-laundering/11657344?pfmredir=sm

IS it any wonder that the evidence for residential buying is more sketchy? 

THE solution would be not only to implement and enforce the second tranche of the AML Laws, but to stop allowing foreign investment in Australian property!
To put a stop to onshore Proxy buyers

All these international organisations have raised concerns about the proceeds of crime driving up property prices, and pricing legitimate buyers out of the market yet the Chairman of the House of Representatives Committee on Tax and Revenue, Jason Falinski, who is currently running an inquiry into housing affordability and supply, told Alan Kohler that he thinks that’s simply not true.

WHY?  Was Jason Falinski out of the room when the Morrison Government exempted the Real Estate Gatekeepers from the second tranche of the AML Laws in October 2018?

WHAT is possibly behind Falinski’s response?  Could it be something to do with …


‘The Big Ten Donors Property Developers Ratchet up their Spending on Politicians’

https://www.michaelwest.com.au/the-big-ten-donors-property-developers-ratchet-up-their-spending-on-politicians/?fbclid=IwAR3RgQkaY8z1xBNMWoitvJOlDyk2ZTb4-pJlMm35_7PgOmxzPLV-vzCtjwA

AND so with these big Ten Donors working both sides … and Labor severely hamstrung as are we!

Bill Shorten called for a stop to political donations … but of course that was overruled by the Liberals – for obvious reasons – as they are in receipt of the large share!

‘In 2019, disclosed donations reached an all-time annual high of $5.6 million in anticipation of the Federal election. Of this, 72% or just over $4 million came from a single source, Sugolena Ptd Ltd. Sugolena’s donation was exclusively to the Federal Liberal Party.

‘The Miracle’!

That year, Sugolena was the Liberal Party’s second-biggest single donor, behind the party’s fundraising arm The Cormack Foundation.’

Sugolena, owned by property tycoon Isaac Wakil, donated a staggering $4,162,448 to the Liberals and the Liberal National Party in Queensland. Mr Wakil himself donated $32,073 to the NSW Liberals.

Read more!

‘Property Industry Donations Favour the Coalition about Eight to One AEC Figures show’

https://www.domain.com.au/news/property-industry-donations-favour-the-coalition-about-eight-to-one-aec-figures-show-927046/

BACKGROUND

Scott Morrison wrote the policy for the developer lobby group, the Property Council of Australia before entering politics …

What does Evergrande’s Debt Crisis really mean for Australia?

IS it because the CHINESE all have excessive high debt levels?

NEXT …

Does BEIJING have the resources to save Evergrande?

With the economy weighed down by debt and COVID-19 where will the cash come from?

PRIOR to COVID-19 in late 2019 China had incurred 7 X more debt than gross domestic product

WITH a $3 Trillion fall in market value of China’s most productive companies

-printing renminbi in the absence of real growth would lead to hyper-inflation

-too many Evergrandes

e.g. Sinic Holdings Group; its stock dropped 87%

.Guangzhou R & F Properties also facing serious difficulties

.Chinese banks are exposed

CHINA’s property sector is seizing up; home sales are falling quickly

IF Chinese leaders prevent a Lehman style crash by mobilizing state enterprises and banks China could face a decade or more of stagnation!

.debt to GDP ratio soared by nearly 45% in 5 years

.Evergrande’s debt amounts to 3% of China’s annual GDP

WHY would China face a decade or more of stagnation?

Because the CHINESE all have excessive high debt levels!

WHAT does this mean for the U.S. and AUSTRALIA?

READ MORE!

‘EVERGRANDE’S Debt Crisis: Time to Ditch China’

https://thehill.com/opinion/finance/573397-evergrandes-debt-crisis-time-to-ditch-china

Strong Chinese Property Transactions in Sydney undeterred by the Pandemic

So far this year, most Asian capital has flowed from Singapore, followed by China and Hong Kong, according to Real Capital Analytics.

Is leading property firm Colliers sourcing its buyer base from Asia?

Not only are these buyers lured by Australia’s management of the Pandemic compared to Europe and the US, but our inflated Sydney house prices of 24% to June

… Lured by a wide selection of asset types available for purchase, and the lovely weather and blue sky.

And with the added benefit of ‘Permanent Residency’ and Medicare following purchase, and ‘hot money’ can be laundered too! So they have a lot of cash to splash! Pushing up prices …

Are Australian property buyers locked out?  With these Asian buyers notified first in an ‘email blast’ … even before these properties hit the market! 

A case in point in Ashfield where an Asian deve-loper bought an 850 M2 vacant block for $4.6M!

And contracts were exchanged within a week regardless of the lockdown!

So what is ScOmO’s Sub deal all about?

READ MORE!

https://www.commercialrealestate.com.au/news/asian-investment-1089596/

ABC Q & A With Economist Yanis Varoufakis on Australia’s Economic Response to Covid-19

ABC Q & A: 9 SEPTEMBER 2021 WITH ECONOMIST JANIS VAROUFAKIS

How would Yanis Varoufakis rate Australia’s economic response to COVID-19? #QandA

QUESTION FROM BOJAN STANOJCIC:

How would you rate Australia’s economic response to the Covid-19 Crisis, and if you were in charge would you have done things differently?

YANIS VAROUFAKIS:

All the boring questions come to me because I have this predicament of being an economist, and a Greek Economist.

Okay, I shall compare the treatment – the response during the Covid-19 period to what happened after 2009 under the Kevin Rudd Government, after the GFC.

Both responses were large. The 2009 response was more effective in a sense that money went directly to families, independently of their circumstances.

So it was a more efficient system.

The support of the Australian economy now – during the Pandemic has been larger, and it had to be larger because the shock was greater, but I very much fear that it has created a large wall of money – which as the Pandemic recedes – and we hope it will soon so that I can come and visit my daughter to begin with – that this wall of money is not going to fuel house prices, yet again, asset prices because this is the great scourge of the Australian political economyHOUSING!

If all this money becomes higher asset prices it will be a monumental waste of all this liquidity that has been created by the Bank of Australia instead of going into investing so that we have good green jobs for experts, for the Arts – for that matter which is not a luxury to be added on to whatever else Australians are doing.

So to cut a long story short, take this liquidity and put it to good use, and do not waste it on real estate!

PART 2 WITH YANIS VAROUFAKIS:

VIRGINIA TRIOLI:

… Yanis, something that you have noted, and that concerns you, is that Australia is falling behind not only because the model that we have relied on for quite some time, which is our heavy reliance on China you regard that as out-moded that that is finished, and that we need to look elsewhere.

What is the solution to that, Yanis?

YANIS VAROUFAKIS:

Investment! It is not just Australia by the way; not being critical of Australia. It is also the European Union. The two blocks that are suffering, if you want, I consider Australia a small block, and the European Union. The European Union and Australia.

Because the business models of both Europe and Australia have relied upon for prosperity are now defunct, and it is the United States and China that are steaming ahead, coming out of the crisis stronger.

This, of course, is clouded over by the merging Cold War between them, and Australia and the European Union are running a very serious risk of being left behind.

Because the … future are Green Energy, artificial intelligence, robotics, and this is where there is insufficient investment – both in Australia and in the European Union.

And at the same time we have to remember that if Sierra Leone, or you know, some developing country that is simply impoverished are not investing – well you can understand that they don’t have the money to invest.

But both Australia and the European Union – we are swimming in money. We never had so much money as we have today, but we are wasting it, we are not investing it into the things that we need, and I totally concur with the point we just heard about the manner in which Women’s rising discontent has been completely ignored by the Government.

But in the end, imagine we were exploring The Universe – Startrek like – and we chanced upon some alien Civilisation we would look at where they were putting their resources you know judge their collective character.

Where are we putting our resources today? In the large corporations that are already sitting on a huge stash of – into men and into the powerful …

(Interview disrupted due to being out of sync.)

WATCH AND PLEASE SHARE!

https://twitter.com/i/status/1435926721568534528

The Feds berated for shifty foreign investment in Tasmania

The Morrison Government has been berated for shifty foreign investment in Tasmania

View the Media Release from Peter Whish Wilson

The Senate Inquiry Report, ‘The Senate Economics References Committee Greenfields, Cash Cows and the Regulations of Foreign Investment in Australia’

Greenfields, cash cows and the regulation of foreign investment in Australia (aph.gov.au)

reveals serious flaws in Australia’s foreign investment approval process, and Australia’s corporate transparency and anti-money laundering regime.

Three outstanding overseas investment approvals were analysed:

-the Musselroe Bay Resort development; part of a money laundering scheme

Bellamy’s takeover by Mengniu

Van Diemen’s Land (VDL) Dairy takeover by Moon Lake Investments

Senator Peter Whish Wilson summed up the problems with FIRB approvals:

-at the discretion of the Treasurer

-lack of transparency; allowing a government to extract an arrangement with foreign investors free from public scrutiny to suit its political ends

-the sale of VDL to Moon Lake, a political donor to the Liberal Party over that of a local consortium

Recommendations were made, but we ask why the need for foreign investment when Australia is a wealthy nation? The answer, it would seem, is apparent ….

Chinese Buyers enjoy Bonza Buy of Australia’s Farmlands!

CHINESE Buyers enjoy Bonza Buy of Australia’s Farmlands … we read this report, ‘’China-Australia relations: Chinese buyers defy Beijing-Canberra blues to say ‘Bonza’ to farmland Down Under“, and it raised many questions for us! We hope you will think about what we question, and share with others!

WITH the diminishing availability of Australia’s farmland, and with it increasingly becoming a popular asset class for Chinese, are we missing something here? Why the disconnect?

WHY aren’t Australian investors ensuring the wealth of Our Nation by investing in this very valuable resource with a very large demand for our produce coming from a hungry 1.4 Billion Chinese?

IT appears we are losing this resource on two fronts from the PRC!  …

With the property sector encouraged, and allowed to devour this precious resource through urban sprawl?

WHEN it is contrary to the interests of not only Our Farmers, but Our Nation and future generations!

WITH the diminishing availability of Our Farmlands, why does the FIRB allow the sell-off to foreign buyers particularly China?

HOW credible are the ‘frosty relations between Canberra and Beijing?” 

WHERE are the so-called restrictions on these foreign investments in our most valuable resources?

.yet China’s investment only fell by more than a third to $827.6M in 2020

HOW is it alleged that Chinese investment in Australian farmlands benefits our Nation? 

When Australia has lost ownership?  Agricultural lands account for 11% of our exports.  How much of that 11% is now owned by the Chinese?

WITHOUT the need for government approval for buying Australia’s property valued less than A$15M, is it any wonder that Chinese investors have the largest holding of 9.2 million hectares?

. also cover investment in vehicles or funds that buy stakes in agricultural lands

WHY not hold onto Australia’s farmlands for our farmers to sell produce to China’s fast-growing Mainland market?

BECAUSE China’s demand for these imported commodities and refined agricultural products will only grow! Currently China accounts for some 18% of Australia’s farming exports!

WHY isn’t the Morrison Government ensuring the viability of our Farming Sector? So that our Farmers are not forced to sell out!

HOW dumb are we?

READ MORE!

‘’China-Australia relations: Chinese buyers defy Beijing-Canberra blues to say ‘Bonza’ to farmland Down Under

https://www.edgeprop.sg/property-news/china-australia-relations-chinese-buyers-defy-beijing-canberra-blues-say-bonza-farmland-down-under?__cf_chl_captcha_tk__=pmd_8r9gzm5ifWqRf0JGsSdlZnhoOqD0YzJnSiuYY5Ddrd4-1630469360-0-gqNtZGzNA3ujcnBszQc9

Australia … we used to have 70% Home Ownership!

AUSTRALIA … we used to have 70% Home Ownership …

WHAT happened to this?

WHAT is needed is HOUSING for AUSTRALIANS … with affordable BUILD-TO-RENT that allows Tenants to BUY!

… Not Foreign Billions and Housing to be marketed to even more foreign buyers with Benefits!

AND what we have learnt from our Commentators …

‘That rent to buy was what the Department of Housing used to do!

Now it’s all about profits, forcing community housing groups to do the same. It’s become a vicious nightmare of CEO’s (many in charities) receiving exorbitant wages, and Rents based on 40% of household income!

This will continue to stifle home ownership. And coupled with elderly home owners having to sell their homes to finance their aged care and then you see the whole mess for our future generations (no inheritance) for those just above the poverty line.’

CAAN: And when was the damage inflicted? It was the late 1990s when the Howard Government … John Howard scapegoated refugees (who were in relatively small numbers) as his government opened the floodgates of the backdoor to migration (with Temporary Visa Holders).

‘John Howard’s Bait-and-Switch:  Is it time for a debate on the mass immigration “Ponzi scheme”?’

https://www.news.com.au/finance/economy/australian-economy/john-howards-baitandswitch-is-it-time-for-a-debate-on-the-mass-immigration-ponzi-scheme/news-story/163e317be07822ca17641dd98415713f

Big Australia’

https://en.wikipedia.org/wiki/Big_Australia

Australia went from a sustainable Permanent Migration system of 70,000 people p.a., to escalate, and prior to the Pandemic there were 2.3 MILLION Visa holders in Australia; of which 1.6 MILLION were Visa workers willing to be exploited (with inferior wages and conditions) lured by the prospect of Permanent Residency.

Who could blame them?

However, this led to high unemployment and underemployment of Australians. Those ‘unAustralian’ employers put about hateful comments like: “Australians won’t work; don’t work”.

Obviously many employers (and companies) have enjoyed the benefits of greater profits from paying such low (below Award) wages; and enjoy TAX BENEFITS contrary to those who pay full tax!

Another very poor Liberal HOWARD Government policy was the introduction of the TAX BENEFITS of NEGATIVE GEARING AND CAPITAL GAINS making HOUSING a financial asset … something you buy and sell and accumulate.

THUS the financialisation of housing that was Shelter!

Our Families locked out not only by Low Wages, and increasingly now Super Inflated Housing Prices due to the competition from those negatively gearing!

INVESTORS are buying up more housing because bank interest rates are too low to leave their money in bank accounts! And the Housing Property Market opened up for them once again with the Chinese withdrawing from their Real Estate Tours. The Chinese are still house shopping here, but have been eclipsed by the Singaporeans (70% Chinese) who have spent $20Bn in the two years to mid 2020!

What is happening with those bags full of Cash?’

Read more!
https://bit.ly/38oYLUU

Businesses in Byron Bay and other coastal towns too have felt the impact of the loss of affordable rental accommodation because they are losing their workers! The fabric of the community is falling apart!

This is due to landlords letting their properties out to short term rentals on AirBnb, and Stayz rather than leasing homes to families and singles for 6 months or more at a lower monthly rate!

Read more!

Banning AirBnb and Shipping in Portable Homes considered as Housing Crisis bites in Coastal Towns’

https://www.abc.net.au/news/2021-08-28/coastal-families-lose-homes-to-airbnb-and-owners-fleeing-cities/100380642?fbclid=IwAR0E6yvyeI3B5r14mxiXVxDSF0lXiIxaRWvgI2elUm6xljcCvWNCQ0mU7vE

AND what has been happening as we so eagerly wait for the 11.00 a.m. presser about the failure of our governments to act early to stop the spread of Covid?

UNDER THE COVER OF COVID …

The developer sector has been beavering away marketing ‘Build-to-Rent’! It has called on the Big Boys from New York!

So another investment avenue for our local Ingestors too!

‘More Foreign Billions pouring into Build-to-Rent (BTR) … ‘

https://www.theurbandeveloper.com/articles/build-to-rent-breakthrough-year?utm_source=TUD+-+Daily+Briefing&utm_campaign=e2a40c93cb-EMAIL_CAMPAIGN_6_11_2021_9_36_COPY_01&utm_medium=email&utm_term=0_982c36d415-e2a40c93cb-195692726

And …

Countdown Begins for Build-to-Rent’s Breakthrough Year’

https://www.theurbandeveloper.com/articles/build-to-rent-breakthrough-year?utm_source=TUD+-+Daily+Briefing&utm_campaign=e2a40c93cb-EMAIL_CAMPAIGN_6_11_2021_9_36_COPY_01&utm_medium=email&utm_term=0_982c36d415-e2a40c93cb-195692726

We hear often ‘We’re all in this together’… however it would seem this has another meaning … another Commentator reminded us that NSW INC raised more than $1 BILLION in Stamp Duty 2019!

See how this all ties in together!

What of the Housing Crisis Nightmare for Australians and First Home Buyers … next? As the floodgates open again to more Chinese, Singaporeans and Indian Middle Class Visa Holders ready to scoop up!

Is this too what is behind the Liberals saying: ‘Sell your Family Home … Downsize … Go Regional’… To open up more opportunities for redevelopment? For more development of high-rise … duplex … townhouses … terraces … villas and retirement villages? FFS!

Afghan Interpreter denied a Protection Visa but wealthy Foreign Investors are Prioritised!

An Afghan Interpreter for the ADF was rejected for a Protection Visa, and evacuated to the Netherlands!

Evidently this is where we are at in 2021 … much like it was in the late 1990s and 2001 … with the Tampa Affair

https://en.wikipedia.org/wiki/Tampa_affair

‘Asad worked as a translator with the Dutch Army in the Uruzgan Province from 2007 to 2010, then with the United States Army in Kandahar, before joining the ADF as an aviation security advisor at the Kandahar airfield in 2011.

Two years later, he applied to Defence for protection under the Locally Engaged Employee visa program (LEEs) after receiving a death threat from the Taliban.’ 

Following this …

‘A serving member of the Australian Defence Force who worked with Asad and wrote a letter of recommendation which was submitted as part of his LEEs application.

“Whilst in the performance of his duties, Asad has placed his life and that of his family at risk in order to facilitate coalition and Australian success within Afghanistan,” he wrote. 

“I value this man’s integrity and friendship most highly.” ‘

Are you aware that if he were to have the means to invest in Australia’s Real Estate or business it would be a different matter?  Especially ‘Hot Money’ with the Real Estate Gatekeepers exempt from the Anti-Money Laundering Laws in October 2018 by the Morrison Government!

But CHARACTER and service to Australia and our troops evidently means ZIP!

This is what we are referring to!  It has been happening for years now through Visa manipulation.  And again recently under the Cover of Covid …

AND …

READ MORE ABOUT ASAD: ‘Afghan interpreter rejected for protection visa evacuated to the Netherlands’