Free Market Economics Australia
Australia abandons free market economics to impose new foreign investment rules and taxes on foreign investors buying and leaving empty houses in Perth Australia.
I never thought I’d read a conservative (David Littleproud MP) wanting to ban foreign investors from buying houses in Australia. That’s according to an ABC foreign investors report.
House building in Perth, whether the houses remain empty or not creates jobs and with a shortage of builders and materials, well-paid jobs allow tradies to buy, albeit, more expensive houses and if they choose in the free market sell their house/s. Cashed up, they can buy what and where they like, in another free market jurisdiction. Many Asian countries have the same stupid foreign investment policy as Australia’s, banning non-citizens from buying property, resulting in Less foreign property investment in Asia.
Geoff Baldwin, RE/MAX real estate agent, is THE best buys’ agent in Perth‘s northern suburbs because he’s THE most experienced real estate agent in Perth. Buy his good book “How to Sell Your Home For More” to get top home-selling prices in this hot Perth property market.
Legal or not, what will happen is more Australian citizens will act as proxy home buyers for foreign housing investors to evade new high Australian taxes on foreigners buying houses in Perth and leaving them empty.
See the new Builder Perth website.