Race hate flyer distributed in Sydney's north shore and inner city

[neK]

Being of asian descent I would have thought i would be offended by this... but im not

I do agree that FIRB need to do more, but this guy is just a crack up


http://www.smh.com.au/nsw/race-hate...rth-shore-and-inner-city-20150528-ghayxq.html

Residents of Sydney's lower north shore were stunned by a flyer which appeared in their letterboxes blaming Chinese property buyers for pushing up home prices, "ethnically cleansing" Australian families from their suburbs and creating a new "stolen generation".

The brochure, titled "Stop the Chinese invasion", was accompanied by a notice to attend a protest rally at the Chinese consulate in Camperdown on Saturday.

The material was distributed around Lane Cove on Monday and Tuesday with one resident comparing the wording to "Nazi propaganda".

The mayor of Lane Cove, David Brooks-Horn, described the language in the pamphlets as unacceptable.
....

 

[greedy2000]

if we didn't allow foreign investment in this country our construction industry would grind to a halt.

I'm sure the Govt would like an easy vote by banning or reducing Foreign investment, but they know how much we need the $$$.

Let the Chinese come in and pay too much for property. when the market corrects and it will, they will lose.

Just don't try to compete against them or you'll end up losing your shirt too.

 

[chilliblue]

I disagree to the extent that Canada has restrict foreign ownership and they seem to be trailing OK. Many Asian countries do not permit non national ownership and they are fine as well.

We really should be interested in who and why are buying up (with the focus on rural and mining properties).

As to the flyer, it is clearly racist and targeted at one nationality.

 

[D.T.]

Needs to be rules in place sure, but anyone who suggests foreign ownership should be stopped is clearly uneducated and anything further from them discarded.

 

[keithj]

IIRC, we have more investment in China, than China does here.

 

[equitymate]

I don't think we should conflate foreign investment with foreign investment in residential property. There is a difference. I get the economic case for foreign investment especially for a country that runs trade deficits and wants to maintain a high standard of living, you have to sell the silverware.

My problem is why should locals have to compete for shelter with foreigners who made their money in ways that locals can not nor would not.

 

[jerrybee]

I've always wondered, if they (and by "they" I mean any OS investor, not just Chinese) have houses that get old and fall into a state of disrepair, what can councils do to have them keep things maintained? Say they are land banking or just have so much money they really don't care. It affects locals to have some run down house in the area.

 

[Strannik]

I've always wondered, if they (and by "they" I mean any OS investor, not just Chinese) have houses that get old and fall into a state of disrepair, what can councils do to have them keep things maintained? Say they are land banking or just have so much money they really don't care. It affects locals to have some run down house in the area.

same thing they would do for an australian owner in the same situation?

 

[XMW]

Needs to be rules in place sure, but anyone who suggests foreign ownership should be stopped is clearly uneducated and anything further from them discarded.

+1.

New housing development / construction is one of most important economic driver at the moment for NSW. Without those foreign investor demand NSW economy would have been in a much worse state.

 

[joe13579]

Is it just me, or did these people use an image of what seems to be a Japanese soldier, while warning against Chinese invaders?

 

[chilliblue]

+1.

New housing development / construction is one of most important economic driver at the moment for NSW. Without those foreign investor demand NSW economy would have been in a much worse state.

Unfortunately in NSW all this new housing is not coming with new or expanded schools, healthcare, emergency services and other much needed support facilities.

You can only squeeze in so many people before something gives.

 

[DavidMc]

IIRC, we have more investment in China, than China does here.

Interesting... what do we own over there?

 

[datto]

^^^^ plenty of room in the Druitt. Get those foreign investors over this way.

I'm going to build a shrine for Chairman Mao at the back of my garage.

 

[redwing]

Australia was built on foreign investment

Business Spectator

t must be the least known part of the Australia-China economic relationship.

We all know that China invests in Australia. But get this: the Australian Bureau of Statistics says that there is nearly as much Australian capital in China as there is Chinese capital here, $29.6 billion compared with $31.9bn.

This isn?t the dodgy data that some worry comes out of the Foreign Investment Review Board. It?s right there in the Balance of Payments, an accounting book that all countries keep to record capital flows between home and the rest of the world.

On a per-person basis that means Australians have invested in Chinese assets on a scale more than 50 times greater than the reverse direction.

Leaving aside all the other arguments, such as Chinese investment being low overall -- the ABS also says that the US stock of investment in Australia is more than 20 times larger than the Chinese stock -- we need to get used to the big truth that investment, like trade, is a two-way street.

 

[Jacque]

http://www.smh.com.au/business/comm...-politicians-in-the-face-20150531-ghdjw7.html

Well written article that's worth reading to understand why the lack of regulation around foreign investment and the source of all that $$$$ is partially responsible for the Sydney market escalation. This paragraph in particular makes a lot of sense:

"Stemming the tide of Chinese capital is no silver bullet for the vexing issue of housing affordability, but it is surely a stride in the right direction ? and one which is not anti-Chinese, anti-foreign investment, or anti-anything apart from anti-money laundering."

 

[Xenia IM]

People find it hard to accept anything new.

A long time ago someone called my dad a "wog" and told him to go back to his own country - he replied with "I came into this country with a passport not a ball and chain and you should be ashamed of yourself because as you are so focused on being racist, wogs like me are making more money in your country than you ever could".

The wogs have kind of blended in, now it's the asians.

Bottom line - if people want to stop others from purchasing then outbid them. Open your eyes to the opportunities in this country and stop blaming people who can already see them!

 

[lizzie]

stop blaming people who can already see them!

Sadly - so many in this country find it easier to blame than to get off their couches, give up the fags and booze, and actually DO something.

So much easier to blame

 

[Azazel]

http://www.smh.com.au/business/comm...-politicians-in-the-face-20150531-ghdjw7.html

"We are talking about anti-money laundering (AML) legislation. All the government has to do is to bring in the AML legislation it said it would bring in almost 10 years ago and the heat, or at least some of the heat, would come out of the market"

"When Canada tightened up its visa laws early last year, it helped take the heat out of the Vancouver property market (the number one destination for Chinese capital). That only ramped up the billions of dollars plunged into Australia"

 

[DavidMc]

I don't like how the flyer singles out a particular race.

It would have been more appropriate if it just said 'foreign buyers' instead, as that would also include the UK and US which are also investing heavily in Australia.

If we take race out of the equation, what do we all think about foreigners (regardless of where they are from) owning large amounts of Australian property?

Many countries in our region do not allow Australians to purchase land there (either not at all or only 49% ownership or only 99 year leases, etc). Are we being 'giving away our land' or are they 'missing out on investment opportunity'?

 

[Azazel]

I don't like how the flyer singles out a particular race.
It would have been more appropriate if it just said 'foreign buyers' instead, as that would also include the UK and US which are also investing heavily in Australia.

"The Chinese" buyers are all they ever hype on the TV or in newspapers.