The heavy-handed forced selling of a Chinese owned existing property in Wolsley Road Point Piper ( Daily Telegraph: Foreign investment crackdown: Chinese billionaire Hui Ka Yan’s purchase of Point Piper mansion is ‘illegal’ ) by Government decree is an exercise in crass juvenile stupidity.
Joe Hockey (Treasurer), why do you think that London is one of the most prosperous cities in Europe?
Answer: because the land bank of expensive property in SW1 is almost entirely owned by foreigners.
They with their money, investments in property, and expansive lifestyle – all paid for with real cash – provide a living for Real Estate Agents, Builders, Cleaners even Antique Dealers such as myself who furnish their houses and apartments.
Hockey you have killed the Sydney and Melbourne property market stone dead.
Within 6 months the price of all property reliant on Chinese investment will plummet.
This will cause serious trouble for the Australian Banks, trouble for all those who are negatively geared and big, big, big trouble for the Liberal Party.
A serious own-goal by the brain dead .
Hockey, have you ever tried to take a house in Point Piper back to China?
• Tess Lawrence, Independent Australia: Australian Federal Police: Drug mule out of control The AFP’s refusal to apologise to the Chan and Sukumaran families says much about their lack of humanity, but even more about their resolve to suppress the truth, writes contributing editor-at-large Tess Lawrence.
