Vancouver- News on Chinese real estate purchases the NZ media is too gutless to confront

Auction2 Here’s why I don’t like what’s going on in Auckland.

1) I value NZ culture and don’t want to see it used as a doormat by every other culture.

2) Its shows me that the NZ National Party don’t give a damn for NZers and NZ culture as long as they can fool the majority of voters into thinking they are “good economic managers”.

3) The truth is without immigration adding to National’s already shaky GST estimates, NZ’s economy would be exposed totally for the smoke and mirrors farce it really is.

I’m no weak whimpering National Party fan boy. I’m no slavish worshipper of John “Justin Beiber” Key. I criticise socialism no matter what clothes it wears.

Here’s an article from the New York Post refreshingly free of the restraints on opinion and fact that exist in the NZ media. A media run by desperate Progressive lackies who would hide the truth forever if there was one grain of it that confronted their disgusting politically correct social mores.

Soaring Vancouver home prices spur anger toward Chinese buyers

An excerpt that addresses the essential truth-

Residents also have questions about the source of Chinese money being invested in Vancouver property, a concern that came to the fore last year when a prominent developer in the city, Michael Ching Mo Yeung, was named as one of the top 100 fugitives wanted by China as part of “Operation Skynet.”

The campaign is part of President Xi Jinping’s pursuit of suspected corrupt officials who have fled overseas.

In the wake of news about Ching, there have been calls for greater scrutiny of foreign buyers and tougher enforcement of anti-money laundering standards.

“I would love someone to look into the due diligence standards [for real estate brokers] around ‘know your customer,’” said James McDonald, who runs a blog that maps million-dollar homes that sit empty after being purchased by speculators.

Here’s an article I published some time ago, and as important as it is to what is happening in Auckland, it hardly raised a ripple in the PC choked NZ media.

NZ named as 3rd most popular destination for China’s most wanted criminals

And here’s something else for the wimpering wavering PC Progs to chew on.

China’s restrictions on foreign property purchases

NZ house prices and Auckland’s in particular are out of control and most likely being heavily influenced by Chinese criminals and money laundering, our culture is being over-run, and its all happening for the pissant reason that National is desperate to keep the illusion that it is a “good economic manager” alive.



Categories: Culture, Economics, Media, NZ Politics

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6 replies

  1. The Greek government of Alex Tsipras is now more responsible and more right wing than Key’s Nats. And Tsipras and Syriza are openly communist!

    Tsipras is cutting pensions – Key is keeping National Party Super!
    Tsipras is selling off all state assets – ports, railways, roads – Key is building more roads and giving billions to railways
    Tsipras is slashing benefits – Key’s given the biggest benefit increase since 1991! much bigger than Labour!
    Tsipras is cutting taxes – while Key is sitting on NZ’s largest tax take ever!

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    • When I see these farcical cries of racism being uttered by virtually the whole country it makes me think that its all over.

      NZ is so infected with the progressive virus it is collectively beyond repair, and the only thing that will awaken these brainwashed imbeciles is a Greek style collapse.

      So you might as well just sit back and wait for it to happen. Like lemmings, they want to jump over the cliff so let the fuckwits do it.

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  2. Said it before will say it again.

    The property “crisis” in Auckland is caused by years of Council incompetence and greed.

    It is basically a supply and demand problem.

    If demand outstrips supply then prices will go up.

    The answer is to increase supply.

    Immigration is not new.

    I do have some concerns and reservations.

    1. Do we want to allow people from another Country to buy our land when the arrangement is not reciprocal. Only 1% of the population of China is foreign and foreigners cannot buy land in most Countries.

    2. The source of the funds used, proceeds of corruption, crime etc

    3. Cheaper loan interest rates than are available to locals.

    4. China in particular has a massive trade surplus with the rest of the World, is this their way of reducing that surplus. A sort of default mortgagee collection. Buy up Assets with the surplus.

    We could end up being tenants in our own Country. Our own fault. Check out what is happening in Countries like Greece, where they have been living beyond their income for years. We are no different.

    Want something real scary check out the World debt clock. What it does not say is who all this money is owed to. But owed it is and most of it is not able to be repaid, for a number of reasons.

    Check out the BRICS Countries the represent nearly 40% of the Worlds population and barely get a mention in our, US dominated, international news.

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  3. The problem with increasing supply is that its more or less impossible to keep up to a market that is almost insane.

    As well, if the bubble ever bursts, which it will one day, an increased supply of land will only exacerbate the problem, making values drop far further.

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  4. Yes it is problematic and impossible to keep up with an insane market.

    But the supply problem has been happening for a very long time, caused by successive Councils their collective greed and bureaucratic nonsense. We have not been building enough houses to keep up with natural growth.

    I decided long ago to not even bother building a new house because of 1. Council and 2. IRD tainting rules re Investing and Development.

    Yes the bubble will burst it will be when not if, the unknown is how bad it will be.

    Best case 10% drop, because there will always be somebody who has to sell, and 10 years of 3% inflation dropping the real value. Interest rates could go through the roof.

    Worst case. 50% drop, anybody with less than 50% equity will be under water, owing more that they own. The economy will tank and go through a reset.

    The smart money will be positioned to survive it and possibly take advantage of the situation.

    Remember a lot of people Own their own homes without a mortgage they will be least affected, a lot of people rent, they may have more rental options available etc

    When not If Red.

    Mark my words this will all end very badly.

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