Are You Listening, Canada: Australia Slaps Chinese Home Buyers With New Taxes

In a move that we strongly urge Canada (and every other nation which is the end-target of Chinese hot money laundering) to evaluate, Sydney announced it would impose new taxes on foreigners buying homes as concerns grow that a flood of mostly Chinese investors is crowding out locals and killing the ‘Great Australian Dream’ of owning property. As Sydney prices rise to record levels – the Australian city is ranked only second to Hong Kong as major cities with the world’s least-affordable housing – new potential homeowners have been increasingly forced out of the market with foreigners blamed as a key factor the AFP reports.
We can only assume that China’s infamous offshore money laundering nexus of Vancouver did not make the list because some Chinese oligarch paid enough money to make that particular city name disappear.

This post was published at Zero Hedge on JUN 19, 2016.