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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Moominoid who wrote (7917)	8/29/2001 6:19:01 AM
From: SunSunM	Read Replies (1) \| Respond to of 74559

Found the article I was referring to on the net, here are the quotes: >> My money is no good in Australia, or so I discovered when I looked into buying a home here. No, I wasn't considering abandoning my place in New York City and taking up residence among the kangaroos. But it did occur to me that an older house along the coast near Darwin might make a good investment. ... The local real estate agent, however, had disappointing news: It is now against the law for a foreigner to purchase a home in Australia. I contacted a friend--a member of Australia's parliament--and told him about this. There must be some mistake, he huffed. Australia has always encouraged foreign investment. Two days later, he wrote me an apology. The law was a new one that he hadn't known about. ... Fear is almost always the driving force when nations shut themselves off. Many Australians worry that their country could become too dependent on the rest of the world and lose control over its individual destiny. Some point to the nation's increasing reliance on foreign money. Australia's net external debt now stands at $268 billion, an amount equivalent to $14,100 for every Aussie. << worth.com

To: Moominoid who wrote (7917)	8/29/2001 2:17:07 PM
From: the_wheel	Respond to of 74559

David, <<He said that non-citizens can't buy any housing property they like here. It is difficult to believe that he is correct>> I thought you live and are in Australia right now? Would it be so difficult to call a local realtor and tell them you know someone (me) who is an american citizen lives in #1USA and is interested in some residential RE in your town. Ask if any restrictions or problems that foreigners can not buy? Has he or she ever sold a property to a #1USA citizen? This would be much better than arguing about windmills in the sky! No disrespect to Don and Pancho! (PS note that they always have an out: "I never said xyz!, I said 'maybe xyz' but also 'maybe abc' therefore I was not incorrect, also it depends on what the definition of 'maybe' is is. ie I am never wrong and will be able in the future to point to the past and brag about how 'right I was!' " Thus I predict right here and now that there will or maybe not will not be a collapse depending on what you mean by collapse but that definitely is not what I meant if you see what I mean?!? I fully expect one of them to get off on this and tell me that according to quantum mechanics that you can actually have a collapse and not have a collapse depending on where you stand as an observer and that if you look you change the outcome thus you should look with your eyes shut. Mo better that way! (Do you think there maybe is like a string that holds up those saxxelizzes (I spell it this way cause I dont have a daxn clue as to the right way) in the sky, I dont know if you are a scinetist, but maybe you have heard of 'string theory' I have heard that that is what makes the medicine go down?) TIA PS I really am interested even though I have not visited your country but plan to next year. I was especially impressed when Paul Hogan came to NYC, you know that big blade he pulled out, and the way he went 'walkies' round town. Being from the bush, he just seemed so 'civilized', I know that girl was really impressed! PPS Being an american, I am not used to a load of crap when buying RE. We just pay the US$, US tax, RE TAX, realtor commission high income taxes and RE taxes and more taxes, but we dont have some beauracrat with their catch22 everywhere you turn jump through this hoop also please. PS Would it make any diff if my wife is UK? PPSPS Also, what about fees, closing costs VAT or GPS or CDMA charges? and RE taxes, foreigner taxes, discrimination taxes , etc? Oh yes and what about the discrimination: Do you love USA #1? or would you sink their ship too? I mainly worry about those oilcans you guys seem to have an affinity for do they cause 'attitude adjustment' problems or does everybody stay cool? I had some ozzie friends long ago one was really cool from Sydney and the other was sort of like a redneck from the outback but he was cool too just really different. PPSPPSSS If you want to know about whether you as a foreigner can buy US#1 RE and want me to ask a realtor here, I can tell you that any self-respecting realtor here would say "If you got the dough, I got the mo!", ie "Money talks, BS walks" Its the american way! PPSPPS : SOrry about the rant, but I quit taking my meds when the market tanked, so its not my fault. I mean I mean no disrespect to you, I was talking about Shaft, I mean Slick.