The Wealthy Chinese are attempting to move assets overseas, and find a safe haven for when China collapses
Instapundit » Blog Archive » BUBBLES GOTTA POP: US Think Tank Warns That Australia Is About 6 Weeks Away From Housing Collapse. …
Vancouver has been in the cross hairs for quite a while, and that market has now collapsed, after a little help from the local government.
The Vancouver housing price collapse: The government giveth and the government taketh away
The Chinese real estate bubble problem lately has been most apparent in Vancouver, Canada. But no limited there.
Australia has been in a bubble building stage for quite a while.
Now the next Vancouver has emerged:
The next Vancouver emerges!
Keep in mind this problem has also been helping build the Seattle, San Francisco, LA, and even to a more minor extent the Portland, Oregon housing markets.
China's capital flight is an incredible hemorrhage . . .
As the Australian market collapse, these potential economic refugees will continue to attempt to find new places to park money, buy real assets, and establish a toehold for a post China residence.
While I welcome the money to our shores, the housing price dislocation is a disaster. The problem, however, is not the buyers bringing money, it is the land use restriction, growth, and service boundaries, and zoning restrictions which are limiting supply, driving up costs, and making housing markets extremely volatile.
Government, what can't it do?