Chinese millionnaires

Should Chinese millionaires continue to be allowed to buy up bunch of huge houses London, Vancouver, Sydney, Toronto, and Melbourne (and keep them empty because they can't be bothered with the headache of renting them out) like they have been doing for last 6 years or so?

Should they be allowed to buy up small houses, tear them all down, and build one fucking huge house, and keep it empty like they're doing nowadays?

Yes, and it should be legal to squat in them.

>tfw you are one of those chinese
>tfw 8 properties in the bay area, california that you rent out to gwai lo

Absolutely not. Fuck them

No. Fuerdai can go suck a fat one.

I heard Chinese millionaires are buying up properties in posh Japanese vacation spots like Karuizawa and Mount Fuji and keeping them empty.

Can you confirm?

They're creating jobs and injecting capital into our economies. Let them waste their money. As long as there's room for others to build, cities shouldn't really be concerned about this.

Blame the Chinese govt not the people. They do this to protect their wealth from the constant devaluation of their currency by the Chinese central bank. Property is seen as a store of wealth to them, nothing more.

>They're creating jobs and injecting capital into our economies.

How are they doing them by depleting the housing stock and making people move to distant areas where the commute to work will eat up all their free time?

A fucking great workstation pictured there OP. They sure don't make 'em that solid any more.

What's wrong with it? It's a free country

Hope you get priced out of your home and have to move to where niggers live, user.

Honestly, it's pretty wild that any sovereign nation allows non-citizens to hold real estate. I mean, think about it, once you get rid of the ethnic definitions of a nation, as the West has done, all you're left with is property.

I'm not stupid enough not to get a better job so... Unlikely

Wow, you can just go and get a job that pays 50% more because your rent went up 50%?

That's obviously not going to happen - learn basic economics.

While I am also moderately annoyed by rich Chinese hamming it up in first tier First World cities, we need to put it in perspective.

>they are massively overpaying by repeatedly buying at the top of a market that they themselves have inflated. The First and Mission site in San Fran is a prime example. That'll be over $1Bn USD for one office block.
>they are being taxed on these purchases
>the Chinese economy has become a plateau. The only reason they've pushed GDP so high for the past 10 or so years is that they've been building shit they don't need and can't use on money they don't have* and can't pay back. As soon as they stop building shit they don't need, they're back at Russia levels of GDP
>*remember the whole reason that they need such a large forex reserve is because nobody trusts the bastards (for good reason) and if they can't honor contracts in Dollars, then nobody is interested
>for all the trolling, spying and hacking, the government system of the PRC is essentially an out-dated political system that can not survive in the age of smartphones and Internet.

I'm ready for when the Party falls. And I'll make a killing.

can you set one up to be a Sup Forums boarding home where Sup Forumslacks with bad credit or little money can live for a low monthly rent to get on their feet and establish independence?

The whole world should collectively band together and destroy China, they're a fucking cancer that is going to destroy the world.

>I'll make a killing.


That's exactly what's happening in coastal cities all over the western world, dipshit.

Even here, too. Buying hotels and buildings. Kinda weird if you ask me.
I wonder what they meant by that.

You need to learn basic economics dumbfuck. Do you not understand the concept of supply and demand?

Don't want to give too much away.

But there are major distortions in the Chinese economy that are superficially sustained by the Chinese government because, basically, they are wedded to the idea that "nothing ever goes wrong under our watch"... and they back this idea up by wasting enormous amounts of taxpayer/government money to preserve this fiction. (See currency intervention last summer.)

Simply put, once they lose economic credibility (and they will) the Yuan will face hyperinflation and the Dollar will be King.

Good luck.