Australia and House Prices

ordinary citizens: With home ownership becoming more difficult amid rapidly increasing house prices, many Australians quite rightly feel that the Australian dream of your own home is getting out of reach for ordinary citizens, if they don't want to saddle themselves with a lifetime of debt, according to Global Times China. A multitude of factors have contributed to this situation, but the most recent manifestation has been a certain level of ire directed toward Chinese investors in Australia housing market. Instead, it has always been decidedly more prosaic - owning your own home, and the sense of security and satisfaction this provides. As the fastest growing segment of foreign purchasers, it easy to see why Chinese buyers are raising eyebrows. While the influx of foreign cash does contribute in small part to these high prices, there are far more significant reasons lying much closer to home, namely, Australia negative gearing tax policies, as well as a large number of wealthy and well-off Australians who wish to see house prices continue to grow. China rapidly growing number of mega-rich, coupled with a cavalcade of news headlines about corrupt officials fleeing abroad and seeking to hide their ill-gotten gains, has led to many Australians to believe that Chinese money is the reason why young Australians can't afford to buy a house. (news.financializer.com). As reported in the news.