Come on you been reading too much silly propaganda from the media journalists whose job is the increase media ratings . There is a government record of every piece of building purchased in Australia because you cannot subdivide anything unless a state government controlled Council approves it and fees are paid and with every purchase there are about 6% tax on purchase price the states get.
So my point is everything is reported and noted by Australia's over 1.7 million public sector workers in state governments who rely on the income property development and purchases provide states and their councils provide. Property development of shoesbox apartments create work for CMFEU workers and concrete and glass and steel manufacturing workers too and GST is collected along every taxation event.
So who would care of few forced sales when the buyers will be paying 6% taxes to the states and recorded . Who cares if it's a Chinaman or a 5th generation Englishman or European Aussie buying the property ?
You over dramatizing the concerns and Westpac not affected by any money the Hong Kong Bank lent money to Asian buyers who might have bought apartments. It's none of my concern as a Westpac shareholder. Westpac are hard to borrow from believe me you have to be pretty well healed to get any money from them. So they safer than houses because they know who to lend to for extra safety and I'd do what they do if I were a lender today.
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