Has NZ got it right "New Zealand bans foreigners from buying property in effort to clamp down on house price growth"

[de chucka]

Not a bad idea that only Australians or permanent immigrants can buy
existing residential property. This tighten up the rules that currently
non-residents can buy existing residential property with foreign
investment approval.

Not sure it would have an homelessness as they claim the NZ laws will do.


http://www.abc.net.au/news/2018-08-15/new-zealand-bans-foreigners-from-buying-property/10124290
New Zealand's Parliament has passed a law to ban many non-resident
foreigners from buying existing homes, completing the Labour-led
Government's election campaign pledge.
Key points:

Ban was an election promise to clamp down on house price growth and
reduce homelessness
Australians were one of the largest purchasers on homes, but are
exempt from ban
International Monetary Fund calls on Government to reconsider the ban


Prime Minister Jacinda Ardern campaigned before September's election on
a promise to clamp down on house price growth and reduce high rates of
homelessness, in part by banning foreign buyers.

"This is a significant milestone and demonstrates this government's
commitment to making the dream of home ownership a reality for more New
Zealanders," Associate Finance Minister David Parker said.

Foreign ownership has attracted criticism in recent years as New Zealand
grapples with a housing crunch that has seen average prices in the
largest city Auckland almost double in the past decade and rise more
than 60 per cent nationwide.

[Pelican]

Post by de chucka
Not a bad idea that only Australians or permanent immigrants can buy
existing residential property. This tighten up the rules that currently
non-residents can buy existing residential property with foreign
investment approval.

Bullshit. Why should I or any other property owner be limited in the
range of purchasers to whom I might sell?

The FIRB in Australia takes the national interest into account. There
is no national interest in such a policy.

Post by de chucka
Not sure it would have an homelessness as they claim the NZ laws will do.
http://www.abc.net.au/news/2018-08-15/new-zealand-bans-foreigners-from-buying-property/10124290
New Zealand's Parliament has passed a law to ban many non-resident
foreigners from buying existing homes, completing the Labour-led
Government's election campaign pledge.
    Ban was an election promise to clamp down on house price growth and
reduce homelessness
    Australians were one of the largest purchasers on homes, but are
exempt from ban
    International Monetary Fund calls on Government to reconsider the ban

Typical closed-shop mind-set from labour cretins. It's populist
nonsense. Even the IMF says it's bullshit.

Post by de chucka
Prime Minister Jacinda Ardern campaigned before September's election on
a promise to clamp down on house price growth and reduce high rates of
homelessness, in part by banning foreign buyers.
"This is a significant milestone and demonstrates this government's
commitment to making the dream of home ownership a reality for more New
Zealanders," Associate Finance Minister David Parker said.
Foreign ownership has attracted criticism in recent years as New Zealand
grapples with a housing crunch that has seen average prices in the
largest city Auckland almost double in the past decade and rise more
than 60 per cent nationwide.

Australians, of course, are exempt. Not the Chinese, or Singaporeans -
it's effectively xenophobic bullshit where private Chinese investors are
hit.

[de chucka]

Post by de chucka
Not a bad idea that only Australians or permanent immigrants can buy
existing residential property. This tighten up the rules that
currently non-residents can buy existing residential property with
foreign investment approval.

Bullshit.  Why should I or any other property owner be limited in the
range of purchasers to whom I might sell?

You are limited now, this just increases it.

The FIRB in Australia takes the national interest into account.

LOL

  There

is no national interest in such a policy.

Post by de chucka
Not sure it would have an homelessness as they claim the NZ laws will do.
http://www.abc.net.au/news/2018-08-15/new-zealand-bans-foreigners-from-buying-property/10124290
New Zealand's Parliament has passed a law to ban many non-resident
foreigners from buying existing homes, completing the Labour-led
Government's election campaign pledge.
     Ban was an election promise to clamp down on house price growth
and reduce homelessness
     Australians were one of the largest purchasers on homes, but are
exempt from ban
     International Monetary Fund calls on Government to reconsider the
ban

Typical closed-shop mind-set from labour cretins.  It's populist
nonsense.  Even the IMF says it's bullshit.

Post by de chucka
Prime Minister Jacinda Ardern campaigned before September's election
on a promise to clamp down on house price growth and reduce high rates
of homelessness, in part by banning foreign buyers.
"This is a significant milestone and demonstrates this government's
commitment to making the dream of home ownership a reality for more
New Zealanders," Associate Finance Minister David Parker said.
Foreign ownership has attracted criticism in recent years as New
Zealand grapples with a housing crunch that has seen average prices in
the largest city Auckland almost double in the past decade and rise
more than 60 per cent nationwide.

Australians, of course, are exempt.  Not the Chinese, or Singaporeans -
it's effectively xenophobic bullshit where private Chinese investors are
hit.

[Lions Growl of Butchers Foul]

Post by de chucka

Post by de chucka
Not a bad idea that only Australians or permanent immigrants can buy
existing residential property. This tighten up the rules that
currently non-residents can buy existing residential property with
foreign investment approval.

Bullshit.  Why should I or any other property owner be limited in the
range of purchasers to whom I might sell?

You are limited now, this just increases it.

The FIRB in Australia takes the national interest into account.

LOL

Well, it sorta does - a friend who was involved with providing advice to them tells me the overriding policy was to sell the eggs, not the chickens.

Of course various well-funded lobbying efforts have clearly overridden the national interest with things like agricultural land, water rights and the Adelaide Steamship Company (including Vegemite) being sold to "investors".

[Pelican]

Post by Lions Growl of Butchers Foul

Post by de chucka

Post by de chucka
Not a bad idea that only Australians or permanent immigrants can buy
existing residential property. This tighten up the rules that
currently non-residents can buy existing residential property with
foreign investment approval.

Bullshit.  Why should I or any other property owner be limited in the
range of purchasers to whom I might sell?

You are limited now, this just increases it.

The FIRB in Australia takes the national interest into account.

LOL

Well, it sorta does - a friend who was involved with providing advice to them tells me the overriding policy was to sell the eggs, not the chickens.
Of course various well-funded lobbying efforts have clearly overridden the national interest with things like agricultural land, water rights and the Adelaide Steamship Company (including Vegemite) being sold to "investors".

Translation: don't let them Chinese in!

[Pelican]

Post by de chucka

Post by de chucka
Not a bad idea that only Australians or permanent immigrants can buy
existing residential property. This tighten up the rules that
currently non-residents can buy existing residential property with
foreign investment approval.

Bullshit.  Why should I or any other property owner be limited in the
range of purchasers to whom I might sell?

You are limited now, this just increases it.

The FIRB in Australia takes the national interest into account.

LOL

LOL? You obviously have NFI what the FIRB is about.

Post by de chucka

  There
is no national interest in such a policy.

[Lions Growl of Butchers Foul]

Post by Pelican

Post by de chucka

Post by de chucka
Not a bad idea that only Australians or permanent immigrants can buy
existing residential property. This tighten up the rules that
currently non-residents can buy existing residential property with
foreign investment approval.

Bullshit.  Why should I or any other property owner be limited in the
range of purchasers to whom I might sell?

You are limited now, this just increases it.

The FIRB in Australia takes the national interest into account.

LOL

LOL? You obviously have NFI what the FIRB is about.

It hasn't stopped the chinese buying up vast amounts of water rights and other foreign multinationals buying up australian companies in order to export the profits overseas.

[Pelican]

Post by Lions Growl of Butchers Foul

Post by Pelican

Post by de chucka

Post by de chucka
Not a bad idea that only Australians or permanent immigrants can buy
existing residential property. This tighten up the rules that
currently non-residents can buy existing residential property with
foreign investment approval.

Bullshit.  Why should I or any other property owner be limited in the
range of purchasers to whom I might sell?

You are limited now, this just increases it.

The FIRB in Australia takes the national interest into account.

LOL

LOL? You obviously have NFI what the FIRB is about.

It hasn't stopped the chinese buying up vast amounts of water rights and other foreign multinationals buying up australian companies in order to export the profits overseas.

Nor should it. As all governments know, we need investment in Australia
and the benefits are well-known. The profits that leave Australia are
net of Australian taxes, of course, and workers in Australia are
provided with employment...

[Lions Growl of Butchers Foul]

Post by Pelican

Post by Lions Growl of Butchers Foul

Post by Pelican

Post by de chucka

Post by de chucka
Not a bad idea that only Australians or permanent immigrants can buy
existing residential property. This tighten up the rules that
currently non-residents can buy existing residential property with
foreign investment approval.

Bullshit.  Why should I or any other property owner be limited in the
range of purchasers to whom I might sell?

You are limited now, this just increases it.

The FIRB in Australia takes the national interest into account.

LOL

LOL? You obviously have NFI what the FIRB is about.

It hasn't stopped the chinese buying up vast amounts of water rights and other foreign multinationals buying up australian companies in order to export the profits overseas.

Nor should it. As all governments know, we need investment in Australia
and the benefits are well-known. The profits that leave Australia are
net of Australian taxes, of course, and workers in Australia are
provided with employment...

The fact is that we can't trust the AUstralian government to levy taxes properly.
Qatar earns $30bn from exporting the same amount of gas our government earns merely $0.8bn on.
The Japanese government earns more tax on imported Australian gas than Australia earns exporting it.

And most of this supposed "investment" is anything but. They buy Australian companies then run them into the ground exporting their profits overseas, then sack all the workers and sell up the residual, then start again with the next company.
We lose jobs, we lose income.
Why do Australian food manufacturers have to be "invested" in by massive Japanese food conglomerates? It's not investment, it's monopolisation and tax avoidance.

[Pelican]

Post by Lions Growl of Butchers Foul

Post by Pelican

Post by Lions Growl of Butchers Foul

Post by Pelican

Post by de chucka

Post by de chucka
Not a bad idea that only Australians or permanent immigrants can buy
existing residential property. This tighten up the rules that
currently non-residents can buy existing residential property with
foreign investment approval.

Bullshit.  Why should I or any other property owner be limited in the
range of purchasers to whom I might sell?

You are limited now, this just increases it.

The FIRB in Australia takes the national interest into account.

LOL

LOL? You obviously have NFI what the FIRB is about.

It hasn't stopped the chinese buying up vast amounts of water rights and other foreign multinationals buying up australian companies in order to export the profits overseas.

Nor should it. As all governments know, we need investment in Australia
and the benefits are well-known. The profits that leave Australia are
net of Australian taxes, of course, and workers in Australia are
provided with employment...

The fact is that we can't trust the AUstralian government to levy taxes properly.
Qatar earns $30bn from exporting the same amount of gas our government earns merely $0.8bn on.
The Japanese government earns more tax on imported Australian gas than Australia earns exporting it.

Very interesting, but the concern of the feds should be how to best tax
a product being sold by an Australian company. Typically, that's by
income tax. A resources tax might also come into it.

Post by Lions Growl of Butchers Foul
And most of this supposed "investment" is anything but. They buy Australian companies then run them into the ground exporting their profits overseas, then sack all the workers and sell up the residual, then start again with the next company.

Utter bullshit.

Post by Lions Growl of Butchers Foul
We lose jobs, we lose income.
Why do Australian food manufacturers have to be "invested" in by massive Japanese food conglomerates? It's not investment, it's monopolisation and tax avoidance.

Nonsense. It's the market at work where it is global in nature. If you
are talking about profit-shifting to minimise tax, that's a game for
many players, including Australian corporations.