Earlier quoted context omitted.
I don't understand
There are groups of people that seem to think that sacrificing local experience should be shoved aside solely on the basis to add more Housing should be the most important thing.
[deleted]
$2T in Proceeds of Corruption Removed from China and Taken to US, AUS, CAN, NL
101–110 of 174 posts
Re: $2T in Proceeds of Corruption Removed from China and Taken to US, AUS, CAN, NL
#102Earlier quoted context omitted.
From the article: China also has something called “grey” income, which means income earned (or acquired off the books) in China that is not reported on income taxes and that is held by its richest families. If the money can be laundered by buying a house overseas, grey becomes green!
How is it "held"? I've seen reports of raids where they find houses stuffed full of cash, but how do you get $2T in cash to Canada? At some point this is getting converted to electronic funds and that is where the "laundering" is happening. As to why they are buying hard assets in Anglo-sphere, possibly because they are worried that the said Anglos may pull the plug on the fiat currency in a Great Reset at some point…
if you know the right people and can stomach hours and hours in the cheapest seats on transpacific flights you can make $2k a week flying between beijing and vancouver
Re: $2T in Proceeds of Corruption Removed from China and Taken to US, AUS, CAN, NL
#103Earlier quoted context omitted.
I was paying ~$100/week for a 3 share in something called Dalgety Square in Ultimo which was a really nice building. That was close to a decade ago now though but I'd be surprised if it had more than doubled but even if it had it was one of the nicer options in the area so I'm sure there is a lot for less. Understandable on wanting to stay east. Once I moved east I didn't want to go back but there are definitely opti…
I have friends in Glebe paying $300, but I think they're close to good bars/transport. I love Yamba! It has always been my dream to get a remote job and move somewhere on the north coast. How much do you pay in Yamba/which part?
You would be surprised how much Ultimo has been gentrified in the past decade, it's quite trendy now.
That's a good price for proximity to the main beach, and especially with the separate apartment. Have you considered subletting it out (maybe even just the holiday season?), could probably get a good price for that location. Do you find Yamba a bit dead? I grew up in Grafton, and know how slow-paced rural Australia can be.
Re: $2T in Proceeds of Corruption Removed from China and Taken to US, AUS, CAN, NL
#104Re: $2T in Proceeds of Corruption Removed from China and Taken to US, AUS, CAN, NL
#105Earlier quoted context omitted.
You seem to think that 90c is going straight to equity when for many years it will be going straight to interest payments. So for the first 5-10 years your $1 is going down the drain vs the renters 10c going into investments.
At any point over those 5-10 you can turn around and sell the property and collect the full gain - it's entirely irrelevant to the mortgage payments being dedicated to interest. My $1 gets my name on the title, your 90¢ gets your name on the lease. Think about what your net investment is. So maybe my maintainance/tax/interest costs equate to 50¢. I'm still investing 50¢ compared to your 10¢. Also, I get incredible le…
it's how long term wealth is built best.
until the bubble pops up, like it did in 2008, but it comes back up so it's a rather temporary set back. Also, rents rarely come down, so most often the property value decline is temporary, or it is another opportunity to buy when things are in water - when there is blood in the streets, there is money to be made.
Re: $2T in Proceeds of Corruption Removed from China and Taken to US, AUS, CAN, NL
#106Earlier quoted context omitted.
OK and what's the failure mode if broad GDP growth remains stagnant, but the narrow real estate market continue to grow and increasingly unobtainable? Does it fail or does it in effect behave as two economies?
If the GDP remains low and inflation remains low then property prices will continue to rise. In fact if this happens the rate of rise may well increase over the short term. To fight low inflation and low GDP central banks around the world have all been singing from the same song sheet by adopting the policy of Quantitative Easing (QE). QE is basically a policy of printing money and it was designed to grow inflation,…
OK but not all asset prices are going up, it's pretty much just real estate and in particular residential real estate. Commericial real estate is doing well, but it's lagging compared to residential.
Bank loans are roughly 1/3 real estate mortgages, 1/3 commercial, and 1/3 consumer. QE affects all of these. So why is QE not resulting in growth elsewhere in the economy, being narrowly focused on real estate mortgages?
Re: $2T in Proceeds of Corruption Removed from China and Taken to US, AUS, CAN, NL
#107Earlier quoted context omitted.
I have friends in Glebe paying $300, but I think they're close to good bars/transport. I love Yamba! It has always been my dream to get a remote job and move somewhere on the north coast. How much do you pay in Yamba/which part?
You would be surprised how much Ultimo has been gentrified in the past decade, it's quite trendy now. That's a good price for proximity to the main beach, and especially with the separate apartment. Have you considered subletting it out (maybe even just the holiday season?), could probably get a good price for that location. Do you find Yamba a bit dead? I grew up in Grafton, and know how slow-paced rural Australia c…
Yeah probably, I've not gone to the area in a long time to be honest so I could be all wrong.
It is, it was a toss up between this place and one over by Coles which was far from the beaches but had a private dock and a pool. There was certainly a lot around though as I was told many many times "no jobs". :)
For subletting not really though I think we're the first people to rent the whole building. I like having the separate office space too much to give it up and we'd need to furnish it down here with more than desks/bookshelves/filing cabinets and whiteboards.
Yeah it's pretty dead here but that aligns pretty well with our interests. I like running/gym/working and my wife loves the gym/beach. Then we both like hiking which there is ton to do within sort of a 1-1.5h radius.
The slow paced part is definitely a problem but we lived in Chang mai for most of 2015 so we have had experience with it to an even worse degree fairly recently.
Re: $2T in Proceeds of Corruption Removed from China and Taken to US, AUS, CAN, NL
#108Might also explain a lot of Chinese moving into Australia.
Re: $2T in Proceeds of Corruption Removed from China and Taken to US, AUS, CAN, NL
#109Simple question: when some invests his corruption money in US, doesn't it automatically become "public" and hence traceable? For example, if you buy a house for X dollars in US then shouldn't Chinese government be able to easily trace you down? My understanding was that so called "black" money stays black only as long as you use it in form of cash, not investments.
Re: $2T in Proceeds of Corruption Removed from China and Taken to US, AUS, CAN, NL
#110Earlier quoted context omitted.
I don't understand
There are groups of people that seem to think that sacrificing local experience should be shoved aside solely on the basis to add more Housing should be the most important thing.
The “local experience” of every young person being priced out of their hometowns and needing to move >50 miles away from home to afford a shared room in a small apartment. The “local experience” of 35-year-old couples who can’t afford to start families because they have a tiny rent-controlled studio apartment they got 10 years ago and now can’t afford to move. The “local experience” of all the artists and musicians who originally made a neighborhood trendy all getting priced out and moving far away never to return. The “local experience” of having all the teachers in the region working second jobs as bartenders so they can afford to live in a tiny apartment somewhere within a 30m commute. The “local experience” of having all the stores in town selling basic items close because the only stores that can afford the rent are upscale clothing/jewelry/etc. or fancy restaurants. Etc.
Yeah, what a wonderful “local experience”.