Monday, Jul 13, 2015

One group disenfranchising the other.

NZ Herald: We're becoming tenants in our own country.

Mainland Chinese money snapped up at least 80 per cent of residential sales in parts of Auckland in March but were nearer 90 per cent in May, a whistle blower from the industry says.
Can gaijin buy Chinese property with the same ease I wonder?
Is this the only way that bubble saturated countries can maintain such stratospheric asset valuations now?

Posted by debtserf @ 12:56 PM (5306 views)
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1. hpwatcher said...

Go tell the Greeks!

Monday, July 13, 2015 03:25PM Report Comment

2. enuii said...

Extremely interesting article on many levels.

Monday, July 13, 2015 06:37PM Report Comment

3. a saver said...

This isn't a new thing in NZ, there was a large influx of ex-Hong Kong migrants when HK was handed over to China. They were buying in all the best suburbs of Auckland and pushed up prices very fast. Seemed to be a few waves of Asian migrants, a Taiwanese family bought my house when I left NZ.

Monday, July 13, 2015 09:04PM Report Comment

4. Alan Lubin said...

Gaijin is a Japanese word not Chinese. In fact Chinese would be Gaijin. Also I have a place in China so the answer is yes.

Monday, July 13, 2015 10:55PM Report Comment

5. tom101 said...

Tidal wave of speculative money from China....... Here we go again.

Tuesday, July 14, 2015 12:40PM Report Comment

6. Yerrow Pelil said...

We take your job. We take your money. We lend you money. We take your land when you don't pay. We win this time, White Devils!

Tuesday, July 14, 2015 09:32PM Report Comment

7. khards said...

Mother and stepfather keep telling me to come over to NZ - they must have it in for me or something.. lol.
Last time we visited in 2011 there were loads of Asians everywhere, more of them than kiwis.

Tuesday, July 14, 2015 09:46PM Report Comment

8. Dharmin said...

@7 kiwis are immigrating to Australia for much better life.

Wednesday, July 15, 2015 10:18PM Report Comment

9. Time To Raise Petrol Prices said...

Gaijin is a Japanese word, not Chinese.......

Friday, July 17, 2015 04:03PM Report Comment

10. Chilli said...

Well that's the free market.

A rich industrialist in NZ decides he can produce stuff more cheaply in china, so he fires NZs and then to keep sales up, offers NZs credit cards. Then the Chinese fix their currency so they can keep their industrial capacity up. Its a win win situation for rich NZs and rich Chinese. Then the Chinese start buying up houses in New Zealand so that the previous tenant can pay off his debts.

Of course the whole thing only works if NZs buy stuff on credit cards, so they are getting what they deserve.

And in the meantime a poor Chinese dude gets a job. Ok he might not earn very much, but he's learning on the job. He's uplifted. And he's contributing to society.

Friday, July 17, 2015 04:43PM Report Comment

11. Ofelas said...

Presume the Maori know the feeling!

Monday, July 27, 2015 07:49AM Report Comment

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