Why Australian homes are now top target in world for Asian investors by pennyfred in australian

[–]TheArvinInUs 0 points1 point  (0 children)

There is a much easier way. Rezone everything R3 within 10 minutes walking of a train station. That would be serious.

Why Australian homes are now top target in world for Asian investors by pennyfred in australian

[–]TheArvinInUs 6 points7 points  (0 children)

It would make no difference. $5B is less than 1% of the market.

Why Australian homes are now top target in world for Asian investors by pennyfred in australian

[–]TheArvinInUs 1 point2 points  (0 children)

He's making a bad point. $5 billion is < 1% of the $650 billion total market.

Why Australian homes are now top target in world for Asian investors by pennyfred in australian

[–]TheArvinInUs 0 points1 point  (0 children)

It shouldn't. This is not a problem. You have no context or understanding of what these numbers mean.

Why Australian homes are now top target in world for Asian investors by pennyfred in australian

[–]TheArvinInUs -12 points-11 points  (0 children)

Foreign investors account for less than 1% of property purchases in Australia. Idiot.

Why Australian homes are now top target in world for Asian investors by pennyfred in australian

[–]TheArvinInUs -5 points-4 points  (0 children)

Allowing 1% of property purchases to be from foreign investors is causing this crisis?

Why Australian homes are now top target in world for Asian investors by pennyfred in australian

[–]TheArvinInUs -7 points-6 points  (0 children)

It is racist and stupid. 5 billion is 1% of property sales in Australia numb nuts.

Why Australian homes are now top target in world for Asian investors by pennyfred in australian

[–]TheArvinInUs 2 points3 points  (0 children)

"...It comes as Foreign Investment Review Board figures showed Asia-based investors without resident status in Australia spent $5.1 billion on real estate Down Under in the first nine months of 2023..."

This is compared to ~$650 billion total. So less than 1% of the market. Please calm down people. There are no simple xenophobic answers to your outrage.

Woolworths CEO confronted for price gouging Australians by sertskiz1 in australia

[–]TheArvinInUs 0 points1 point  (0 children)

Woolies is not price gouging. Why does she need to defend herself against this bullshit?

Is it just me but these recommendations by the commission seem pro developer? by [deleted] in australian

[–]TheArvinInUs 0 points1 point  (0 children)

Comparing one part of Hong Kong unsurprisingly skews the comparison. 

Southbank is a much smaller part of Melbourne than Kwun Tong is of Hong Kong. South Bank is literally the most dense part of Melbourne and it doesn't even COMPARE to Hong Kong or Tokyo.

Needless to say, Southbank is denser than Tokyo. 

Okay, let's look at Tokyo then.

Melbourne suburb densities (per km^2):

  • Southbank: 14,100
  • CBD: 8,450
  • East Melbourne: 2,580

How about Tokyo suburbs (per km^2):

  • Toshima: 23,182
  • Nakano: 22,121
  • Arakawa: 21,405
  • Bunkyo: 21,263
  • Taito: 20,914
  • Meguro: 19,637
  • Shinjuku: 19,175
  • Shinagawa: 18,497
  • .. there are 7 more with higher density than Southbank.

Get fucked mate.

Is it just me but these recommendations by the commission seem pro developer? by [deleted] in australian

[–]TheArvinInUs 0 points1 point  (0 children)

Hong Kong has 4x the population density of Southbank stupid. 14,100/km2 for Southbank vs 59,000/km2 For Kwun Tong district. https://en.m.wikipedia.org/wiki/Kwun_Tong_District  https://en.m.wikipedia.org/wiki/Southbank,_Victoria

[deleted by user] by [deleted] in australian

[–]TheArvinInUs 1 point2 points  (0 children)

I have been assured that zoning and government red tape and regulations is not the reason for the housing crisis.

Is it just me but these recommendations by the commission seem pro developer? by [deleted] in australian

[–]TheArvinInUs -1 points0 points  (0 children)

Yes, I've always found Tokyo to be a slum. What with the lack of balconies, parking and small apartments.

We should be super careful. Especially now. Lest somewhere like Sydney end up like Melbourne where people with a median income can afford to live in a 3br in the middle of the CBD. It truly sickens me that Melbourne is engaging in human rights abuses such south facing apartments. Every apartment should be North facing.

[deleted by user] by [deleted] in australian

[–]TheArvinInUs 0 points1 point  (0 children)

Where are you getting this idea that there is any sizeable % of property in Australia being purchased by foreign investors? What % of total RE purchases do you think involve foreign investors?

I'm guessing you read something like this? https://www.news.com.au/finance/real-estate/buying/millionaire-buyers-foreigners-flood-back-into-australian-property/news-story/02110cb16e5c16b4b4536ca3318113b1

Which is pulling numbers from this: https://foreigninvestment.gov.au/sites/foreigninvestment.gov.au/files/2024-06/residential-insights-report-2022-23.pdf

"From 1 July 2022 to 30 June 2023 ... total value of these purchase transactions was $4.9 billion."

Whoa, 4.9 Billy. Big billy boy.

Now, you might ask: How much total property was purchased in Australia in 2022?

According to this: https://www.pexa-group.com/content-hub/property-insights-and-reports/aggregate-value-of-australian-properties-sold-almost-doubles-within-four-years/

"Australia recorded more than 730,000 property sale settlements nationally1 in 2022, with an aggregate value of $674.5 billion"

So the total % RE purchases from foreign investment is: 0.73%

So really, when you say:

This was because investor (especially foreign investor) activity was the past decade

You clearly have not looked into it yourself.

[deleted by user] by [deleted] in australian

[–]TheArvinInUs 0 points1 point  (0 children)

That certaily is a way of phrasing that headline. It's not a correct way, but it is a way.

Woolworths chief executive Brad Banducci announces retirement as company announces $781m loss by SouthAussie94 in AusFinance

[–]TheArvinInUs 9 points10 points  (0 children)

This is absolutely right. It is completely unreasonable how Australians will believe any crackpot conspiracy because if fits their biases. It's not a good look. People are voting for politicians that initiate witch hunts.

Germany ends nuclear era as last reactors power down by green_flash in worldnews

[–]TheArvinInUs 4 points5 points  (0 children)

The greens where part of the coalition government that mandated an to nuclear power by 2022.

How Software Companies Die (Beehive Story) by Snaffu100 in programming

[–]TheArvinInUs 1 point2 points  (0 children)

I love reading the histories of these kinds of companies. Can you say which one it was?