wherebee

right, which one of you went to Ohio? http://www.msn.com/en-us/news/us/gold-lunar-module-stolen-from-neil-armstrong-museum-in-ohio/ar-AAp1f9l

oh yeah, there will deffo be a bail out of some sort - what I mean is intense panic as one of them at least is bankrupt on paper and the fallout from that in terms of mass layouts of highly paid twats...

So - I have a house in Melbourne. My financial plans are built on it dropping 30% in value in the next 5 years. They are also based on at least one of the aussie banks going down in the crisis.

OOh I am there in Auckland in a short while. I'll report back on local sentiment.

Also all the countries they name as restricting buying from overseas were nice, white, western countries. They could have chosen China, HK, and Singapore - much more effective controls.

"poor ******er, a debt slave for life' should have been your response

I've said on this forum before that one of the reasons I despise the 'right on', Live aid, immigrant cheering, transgender loving, global warming mob is that almost without exception when I have met a REAL **** in business or personal life linked to a financial issue, they have turned out to be one of that mob. Reminds me of catholic bishops overseeing a starving flock whilst they eat like kings, solid in the knowledge that they are doing 'gods work'

I had this in a flat in Hong Kong. Beauty was the new owner/landlord had not checked the tenancy agreement that I had altered with the old landlord so I had an early break clause at no cost to me. Was part of the negotiations for me taking on an initial 2 year term. I was well narked that the flat was sold with no notice to me of the change until the new landlord demanded an inspection. In HK your landlord can make a huge difference to your life. So - new owner buys the flat. Comes round to inspect. I take great joy in handing in my 30 days notice, 6 months ahead of the 2 year tenancy end. He waves the tenancy agreement in my face and gets his translator to tell me it runs for another six months. I show the translator the early break clause. Cue meltdown and shouting screaming at the estate agent LOLOLOL. Expat Flats at that price range often spend 2-6 months void. And the flat was priced at about 2.5million GDP. That's a lot of mortgage payments.

I have also, when talking to Ameircan friends, heard security concerns as a driver for not going to the mall. Seriously. There was a gang fight in an upscale mall in Long Island a few months ago and I know some people who live near it - they were talking as if the barbarian hordes had entered Rome, and they were not going back to risk a repeat.

OK, some of you will recall that I am watching a specific patch of SE england, coastal region. I have known it for 30 years since before leaving the UK. There are 20 flats in a block. I have never seen more than one on the market at any one time. They have always sold. As of yesterday, 5 are on the market. 3 are reduced from original prices by 20-40k already. It is a material shift from the last 15 years.

Chinese buyers plus lax lending standards. That's it. If you stopped Chinese money into Auckland, it would crash. Gvt will deny it - to which my answer is - OK then, stop it and prove it.

I often think that if I was a normal earner needing a property in the UK and had no morals, I'd do one of those teaser rates, deposit paid 100% deals, and hide all my assets in gold/other stuff, and just move in and pay the mortgage until the teaser rate ended and then go bankrupt. Why don;t more people do this? When the game is stacked against the common man so badly, breaking the board is the only logical move.

What a complete and utter disgrace. Legislation to implement the second tranche of anti-money laundering (AML) legislation covering real estate gate keepers has been gathering dust for nearly a decade despite explicit criticism from the global regulator, the Paris-based Financial Action Taskforce (FATF), that Australian homes are a haven for laundered funds, particularly from China, as well as similar warnings from Austrac. In the meantime, dodgy Chinese money has piled into Australian property, in the process inflating house prices and pricing young Australians out of home ownership. When will Australia’s politicians finally take action and end more than a decade of neglect by bringing Australia’s real estate gatekeepers into the AML net – as demanded by FATF and Austrac, promised by the federal government in 2003, and intended when the AML legislation was first drafted in 2006? Or will the Australian Government continue to turn a blind eye to the dirty foreign money flooding into Australian property?' A simple route back from the madness would be for an Australian government to set up a small unit, under 100 people, to street by street track ownership of all property in Sydney/Melbourne. Bring a law in that any property bought in breach of FIRB over the past 20 years is now property of the state. Bring in a law that any property owned directly or indirectly by a non-citizen of Australia, foreign trust, foreign corporation, has an annual 5% capital tax. If ownership is claimed by a citizen, financially analyse the purchase against declared income tax from that period. when I rented a house in Melbourne a few years ago, of the 12 houses around me, three were owned by Chinese that I knew of, and either empty or 'rented' to relatives. This was in a scrubby suburb with drug problems. I would bet my left bollock that those three houses had NOT gone through the FIRB. You'd drive out the abuse within a year. And massively boost government coffers.

RUH-ROH SHAGGY! http://www.theage.com.au/business/banking-and-finance/sp-says-more-borrowers-falling-behind-for-first-time-on-mortgage-repayments-20170330-gva55t.html

Can you imagine the knock on effects if a real depression hits the UK and en mass people stop paying rent to the mass of private landlords who are one month away from mortgage default? LOLOLOLOLOLOLOLOLOLOLOL

The area I am watching on the south coast - looks like someone is chasing the knife down - 2 bed flat. 350 to 325 to 310 to 295 to 285 over the past 12 months. Still no takers

Mods - I know you get flak for threadburns, etc, but some of us do understand the Orwellian tightrope you have to tread due to the lack of free speech we face, and we do appreciate the job you do. Two things to cheer you up in your Modholes 1 - when the HPC starts the main forum will become busy again 2 - when free speech is enshrined in UK law and google etc are sued into the ground for censorship and have to change their policies, you can reinstate all the deleted threads....

FUBRA has removed two important threads. Their game, their rules, and I have no problem with that. However, those two threads were a major source of truth on the issues - can anyone suggest good alternate sites (no conspiracy/race war forums please) that allow good debate on those issues? PLEASE do not comment on the thread deletion or this thread will also be banhammered.

TICK TICK TICK http://www.whocrashedtheeconomy.com.au/blog/2017/01/chinese-capital-controls-to-put-damper-on-aussie-property-bubble/

As you lot know, I bought a house in Australia in 2014. It's the house we will go back to. It's a great house in a good location with good commuter links and good access to several areas of outstanding beauty. We've had the same tenants since 1 months after buying it. And yet, if it is worth more in USD terms when we go back than I paid for it I will be bloody amazed. I would never, ever, buy a place in Australia for yield or income or capital gain. We bought - and it was right for us - rather than have all of our savings in one asset form (digital blips in the financial systems computers).

That worthing house is just horrible. ticky tacky boxes. I look at the victorian housing stock - built for the poor/lower classes - and think how far the Uk has fallen in terms of aspiration.

Disgusting. Simply disgusting. The lies of the mainstream media continue. http://www.realestate.com.au/news/geelong-firsthome-buyers-to-win-as-state-government-doubles-regional-owners-grant/

I'd happily settle in Dunedin if I could convince the wife to stand the cold. No chinese money down there. http://www.realestate.co.nz/2734746

To be fair, when I was young and stupid I bought a leasehold flat as no one, not even my solicitor, explained what a millstone it could become. Leasehold should be outlawed. Australia has strata rules, which whilst bringing their own problems, are miles better than feudal UK hangovers

A small cottage on the south coast in an area I monitor has just come on. Bought about 6 months ago for 200k, new kitchen, door, and bathroom in, and back on now for 260k. Will watch with interest as I think the whole area has been stagnant for 6 months now....