Re: A Possible Needle in the Hay Stack?
I'd be interested in knowing how accurate the data for that graph is?
As I read it, it looks like Chinese property investment in the US is only 5x of NZ, and Canada/Australia are only 3X of NZ.
I know our property market didn't hit the skids like the US(no jingle mail), but we're also looking at higher interest rates and shorter fixed term loans.
But I guess Chinese foreign property sales being largely cash negates any interest rate influence.
Looking at how little(little to nothing) was done by the UK from Russia's perspective regarding The City being a harbour of oligarch money of questionable origin since the fall of the Soviet Union, I wonder how much will actually be done in the US/Canada/Australia/NZ regarding recovery of white collar corruption money?
Wouldn't even a couple of high profile property seizures risk a Chinese property exodus?
If Chinese property buyers are desensitized to price when momentum is moving up, wouldn't they also potentially be more so when price momentum is moving down?
If the goal is to export grey money and convert it into a form of legitimate and secure capital, surely the owners of it would be more than happy to accept a massive haircut compared to the heavily mortgaged host nation citizens?
Would it be more appropriate to look at Chinese property investment in the English speaking west as an exercise in mass money laundering?
If so, should the question be asked what frictional costs are folks looking to launder money willing to bear to achieve their goal of exporting and legitimizing grey money in a safe harbour? 10%, 20%, 30%, 40%, ??
So does that mean once the market turns the foreign grey money propping up the property market will act as an accelerant?
Has Canada experienced any fall in property prices since the influx of Chinese money leading up to and after the 1997 Hong Kong transfer? Any idea how that market segment impacted on any price pullbacks?
I'd be interested in knowing how accurate the data for that graph is?
As I read it, it looks like Chinese property investment in the US is only 5x of NZ, and Canada/Australia are only 3X of NZ.
I know our property market didn't hit the skids like the US(no jingle mail), but we're also looking at higher interest rates and shorter fixed term loans.
But I guess Chinese foreign property sales being largely cash negates any interest rate influence.
Looking at how little(little to nothing) was done by the UK from Russia's perspective regarding The City being a harbour of oligarch money of questionable origin since the fall of the Soviet Union, I wonder how much will actually be done in the US/Canada/Australia/NZ regarding recovery of white collar corruption money?
Wouldn't even a couple of high profile property seizures risk a Chinese property exodus?
If Chinese property buyers are desensitized to price when momentum is moving up, wouldn't they also potentially be more so when price momentum is moving down?
If the goal is to export grey money and convert it into a form of legitimate and secure capital, surely the owners of it would be more than happy to accept a massive haircut compared to the heavily mortgaged host nation citizens?
Would it be more appropriate to look at Chinese property investment in the English speaking west as an exercise in mass money laundering?
If so, should the question be asked what frictional costs are folks looking to launder money willing to bear to achieve their goal of exporting and legitimizing grey money in a safe harbour? 10%, 20%, 30%, 40%, ??
So does that mean once the market turns the foreign grey money propping up the property market will act as an accelerant?
Has Canada experienced any fall in property prices since the influx of Chinese money leading up to and after the 1997 Hong Kong transfer? Any idea how that market segment impacted on any price pullbacks?
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