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The Masked Tulip

Australia Cracks Down On Foreign Property Buyers

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Too little... too...

The bid to crack down on money illegally flowing into Australian real estate comes amid growing public concern that wealthy Asian investors are bidding up prices, making the country's property market increasingly unaffordable. House prices in Sydney alone have risen 14.5% in the year to April, according to property-data provider Corelogic RP Data.


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Doesn't this work for the government though?

The Chinese buyer needs AUD and they only have CNY. If so, don't they exchange CNY for AUD to buy their grossly inflated house, but the CNY (that Australia now has) can then be used to offset all the cheap drills and toasters they have imported from China?

Is this, not the way it works, aren't we giving over parts of our country for Cheap items that will only last 18 months? While paying welfare to our own people to do nothing? Really?

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