New ask Hacker News story: Tell HN: The Australian housing market, open to the world, is going up $900/day
Tell HN: The Australian housing market, open to the world, is going up $900/day
4 by andrewstuart | 2 comments on Hacker News.
Anyone in the world may buy housing in Australia. And the prices are going up at an astounding rate. In some suburbs, house prices are accelerating up to $880/day. Australia is also one of three countries in the world where real estate is exempt from money laundering reporting laws, so likely criminal cash is flooding in from Russia, China, Burma, anywhere in the world that has dirty money that needs cleaning. Money is pouring in from rich people in countries where economies are crashing. Prices are absolutely skyrocketing, supply is nowhere near keeping up with demand and the government is running a massive immigration program. These house prices are going to accelerate to the moon. What does all this add up to? It's a terrible thing if you are an ordinary Australia who hoped to own a home. It's a miracle if you are a landlord in Australia. It's an incredible opportunity if you have global money that you want a high rate of return on. It's a gift from god if you are a criminal wanting to stash your ill gotten millions.
4 by andrewstuart | 2 comments on Hacker News.
Anyone in the world may buy housing in Australia. And the prices are going up at an astounding rate. In some suburbs, house prices are accelerating up to $880/day. Australia is also one of three countries in the world where real estate is exempt from money laundering reporting laws, so likely criminal cash is flooding in from Russia, China, Burma, anywhere in the world that has dirty money that needs cleaning. Money is pouring in from rich people in countries where economies are crashing. Prices are absolutely skyrocketing, supply is nowhere near keeping up with demand and the government is running a massive immigration program. These house prices are going to accelerate to the moon. What does all this add up to? It's a terrible thing if you are an ordinary Australia who hoped to own a home. It's a miracle if you are a landlord in Australia. It's an incredible opportunity if you have global money that you want a high rate of return on. It's a gift from god if you are a criminal wanting to stash your ill gotten millions.
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