Post to Facebook on 28/8/2017 at 10:47 PM
Commenting on "Overseas property crackdown from China to be widely felt"
http://www.theage.com.au/world/overseas-property-crackdown-from-china-to-be-widely-felt-20170828-gy5mfv.html
The lack of injection of new money from China around $47.3 b a year is going to make a big dent to the Australian economy.
This will trigger down to all other industries, especially the real estate industry, and the employment situation will be very tough in months to come, and continues on for many more months.
Will Australia experience a recession in the coming months before the end of 2017? It is likely if the Australian government still pussyfoot about the non-critical life-style issues instead of the more urgent matters that affect the livelihood of millions.
As I have written many times, the rise and fall in Australian real estate market is not just a local or national matter. The global politics and economy have great influence and control over the employment market. Without a stable income, most mortgagors will not be able to hang on to their properties for long.
I am not a doomsayers, but one that looks much further beyond the Australian shoreline and subjects beyond local real estate market.
Australia depended too heavily on exports of iron ore and coal to China. The mining sector in the West has busted and the previous 2-speed economy ended with it. Now, it is the turn of the East coast - the bust of the real estate sector.
Thank you for reading.
Commenting on "Overseas property crackdown from China to be widely felt"
http://www.theage.com.au/world/overseas-property-crackdown-from-china-to-be-widely-felt-20170828-gy5mfv.html
The lack of injection of new money from China around $47.3 b a year is going to make a big dent to the Australian economy.
This will trigger down to all other industries, especially the real estate industry, and the employment situation will be very tough in months to come, and continues on for many more months.
Will Australia experience a recession in the coming months before the end of 2017? It is likely if the Australian government still pussyfoot about the non-critical life-style issues instead of the more urgent matters that affect the livelihood of millions.
As I have written many times, the rise and fall in Australian real estate market is not just a local or national matter. The global politics and economy have great influence and control over the employment market. Without a stable income, most mortgagors will not be able to hang on to their properties for long.
I am not a doomsayers, but one that looks much further beyond the Australian shoreline and subjects beyond local real estate market.
Australia depended too heavily on exports of iron ore and coal to China. The mining sector in the West has busted and the previous 2-speed economy ended with it. Now, it is the turn of the East coast - the bust of the real estate sector.
Thank you for reading.
