It has mostly been developers with a healthy contingent of mainland Chinese and wealthy Boomers levering up into investment properties. Developers have started to drop off, Chinese money and Boomers still going strong.
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Australia is one of a very short list of countries who's PPP / USD ratio is greater than one.
Bermuda. Switzerland. Australia. British Virgin Islands. Liechtenstein.
I'm not saying our economy is disproportionately fuelled by money laundering and dark money capital flows. Absolutely not.
And it looks like a lot, since we also have the ruins of a real economy and most of our peers don't...
Last question if I may. Is this happening only at the east (gold) coast or everywhere in AUS?