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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: The Vet who wrote (110979)	4/24/2010 8:01:54 PM
From: mishedlo	2 Recommendations Respond to of 116555

Goldman Email Describes ‘Frankenstein’ Derivatives; Tourre Brags about Selling Abacus to "widows and orphans"; SEC Confident; German Bank Drops Goldman globaleconomicanalysis.blogspot.com Mish

To: The Vet who wrote (110979)	4/24/2010 8:10:56 PM
From: Proud Deplorable	Respond to of 116555

"These new foreign buyer rules, further increases in rates and any loss of buyer confidence could easily trigger a waterfall collapse in residential home prices at any time despite the fact that the Aussie economy is booming due to China's current demand for commodities." EXACTLY......This is what they need to have happen. What they didn't tell you is that the government is PURPOSELY trying to smash home prices for the good of the country (something Canada needs to consider doing as well) and its own citizens and that the majority of them support any real effort to cause a price crash because things are way out of whack and the Asians are taking over everything and ruining their easygoing laid back lifestyle. Overseas investors should NOT be allowed to buy residential real estate in any country where they don't live. That's fair for everyone. Why should some rich Asian be allowed to deprive an Australian citizen of the right to own a home in their own country? Most of these investors don't even live in the country. Also Australia doesn't need anyone to come over and build more inventory because there are enough houses in the country for everyone and Australia is not trying to entice more people to move there, quite the opposite. They have held their population under 20 million for decades. In recent months the BoA has raised rates many times and to this point, because of unfair investment practices from overseas, it hasn't had much of an impact. The latest thing I read somewhere from over there was that after someone challenged the government that this higher rate policy isn't working they replied that they would keep raising prices until it does work. By the way the article mentions "at a time when Australia's economy is booming". What does speculating in real estate have to do with a REAL economy anyway?