Could this change in policy mean more overseas investors will turn their attention to the NZ real estate market - anyone can buy here?

http://www.smh.com.au/business/property/whos-driving-up-our-house-prices...

No wonder the Aussies have clamped down:

MELBOURNE real estate agents say a third of properties sold in the leafy eastern suburbs is to foreign nationals taking advantage of relaxed investment laws.

A survey conducted by The Age of 20 leading agents found foreign buyers, mostly cashed-up Chinese, now account for 30 to 40 per cent of property sales. Before the changes in March last year, overseas buyers comprised 15-25 per cent.

Hodges Bentleigh director Frank Ruffo said his agency has seen a jump of overseas buyers from 32 per cent of sales to 60 per cent in 2010

In the UK TV version of The Apprentice punters vie to become dogsbody to Alan Sugar, a serial entrepeneur who has developed, set up and managed a series of electronics and consumer products companies such as as Amstrad and Viglen that have at various times employed thousands in the UK, and which have periodically been at the forefront of technological innovation. He has made and lost several fortunes and has been knighted for his contributions to national industrial development.

The NZ version of The Apprentice is run by a property speculator who wears gel in his hair and who can't seemingly pay his bills.

The Aussies must be a bit thick - in a survey when asked "Do you think house prices will continue to rise regardless of whether government policy on housing is changed?" 61% felt house prices would continue to rise.

http://www.theage.com.au/business/property/review-for-house-market-20100...

To all the those that worry about our debt to overseas countries, reality is very different to theory as the greeks are showing.
Borrow a little and the dog wags the tail, borrow a lot and the tail wags the dog.
Ensuring borrowers live within their means is the lenders way of ensuring that they will get repaid, nothing to do with the borrower and being being prudent.

[...] http://www.interest.co.nz/ratesblog/index.php/2010/04/26/90-seconds-at-9... will force any temporary entrant to obtain Foreign Investment Board approval and will force any temporary entrant who is leaving to sell their real estate. Also, Australia is preparing to announce its tax reform plans on May 2 … [...]

It seems once again the Aussies show us how it's done and we are too piss weak to follow suit for fear we may upset a .....potential immigrant..? potential trading partner..? geesus we suck.

Oh, Wairarapa P, read up about Tax Arbitrage....

And BH, AEP has pronounced about Greece - good read. The German professors' constitutional challenge could be the 'Camel - meet Straw' moment.

Hahaha! The Aussies finally clamp down on unwise behaviour in their property market, so Kiwi property speculators whine about it because they're afraid that the NZ govt will do the same.

Your pyramid scheme is so far gone that you're praying for an invasion of rich Asian immigrants to save you from disaster, and the mere possibility that something will prevent their arrival has you pissing your undies.

This country already has far too many property sector parasites doing untold damage to the economy and the last thing NZ needs is a whole lot more of them.

Pull the plug on the property economy ASAP and forever. Think of it as tough love. To you pyramid scheme promoting property "investor" and speculator leeches, I say "tough, love!"

HAHAHAHA!

Interesting how Rudd failes to mention how the 1st home buyer grant and other Govt initiated schemes they put in place to keep their ponzi scheme pumped up have had a much larger impact on property prices. Blame the Asians - always a good diversion tactic.

Re. NZ, there are two ways for us to sell off our assets:
a. A direct sale; and
b. Selling the rights to your assets by borrowing foreign funds. aka Crafar farms.

With NZ borroiwng $240m a week to waste on unsuatainable welfare entitlements, we are following path (b).

NZ has already moved beyond the point of financial independence with the massive amount of foriegn debt we owe and by living beyond our means for decades. Loss of soveignity or ownership of our remaining assets is inevitable.

Greg out west, no, I'm fine with anyone. It's everyone's world. The colonial dream is still there so it's not surprising there are some issues - but I think that's more generational than anything else. I'm more worried about folding finance companies, manipulative investment banks, and bad directors ripping off people. By last count they weren't Chinese

[...] http://www.interest.co.nz/ratesblog/index.php/2010/04/26/90-seconds-at-9... Hickey details the key news overnight in 90 seconds at 9am in association with the BNZ, including news the Australian government announced a crackdown over the weekend on foreign purchases of local real estate. … Finally, the Greek government has requested a bailout and is refusing to restructure its debt, which is important because European banks face over 100 billion euros of losses if Greece were to default and restructure its debts. Tags: 90 seconds at 9am … [...]

Jeff M how short sighted you are Finance companys are the lest of your worries the Chinese Gov makes our lot look like boy scouts they are a bunch of hard line commies dressed up in drag . why are western countries so easy to plunder.
Baz

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