Taxpayers giving international real estate speculators $50,000 to compete with first home buyers on an over-inflated market

by Mike Maloney

Author and economics commentator Mike Maloney has exposed a $50,000 government hand out for international buyers of Australian real estate.

He said first home buyers had no chance of competing with overseas speculators in the housing market, which has increased each year by 30 per cent.

This little known LNP incentive for overseas buyers which includes China, has pushed young couples out of the market.

“Australia has gone nuts. I did a piece on the Australian real estate bubble and was going to include it my next book, but it was too long so I made a video of it,” Mr Maloney said.

“It just shows you the craziness of the economics of what they are trying to do behind Australian real estate.

“The Australian government is now offering a $50,000 grant to any foreigner who comes in and buys residential real estate like the Chinese.

“The Chinese have been investing very heavily so they are trying to attract more of them. We had this contraction because we closed down our economy. China reopened their economy right away and they’re having an economic boom.”

He questioned why the Australian population is not asking itself, “You mean I have to pay taxes so we can give it to some foreign buyer who is going to bid up a house away from the children for instance don’t they need a place to live.

“Don’t they need a starter house? They are never going to be able to, they are going to have to rent because of these crazy policies driving real estate up 30 per cent in year over year….this is crazy.

“The real estate bubble will implode and their will be a chain reaction around the world.”

Prime Minister Scott Morrison has been contacted for comment.

About Editor, cairnsnews

One of the few patriots left who understands the system and how it has been totally subverted under every citizen’s nose. If we can help to turn it around we will, otherwise our children will have nothing. Our investigations show there is no ‘government’ of the people for the people of Australia. The removal of the Crown from Australian Parliaments, followed by the incorporation of Parliaments aided by the Australia Act 1987 has left us with corporate government with policies not laws, that apply only to members of political parties and the public service. There is no law, other than the Common Law. This fact will be borne out in the near future as numerous legal challenges in place now, come to a head soon.

Source

Leave a Reply