Canada and Australia have been hit hard by the commodity collapse, and their currencies have crashed, so their property has inflated in local nominal prices, as foreigners have bought anything with a roof (or even without). But their internal economies have not reacted to the loss of export business and imported inflation for consumer goods. They keep high-taxes and high-welfare socialist economies which are sleep-walking off a cliff - this will not end well.
NZ is in a slightly better position, because it produces more agricultural commodities than industrial minerals, and it restructured its taxes and regulations to become more friendly to businesses and individuals (no capital gains tax, no inheritance tax). But its real estate market is also in a crazy bubble, which will collapse if the foreign buyers disappear.
http://www.acting-man.com/?p=46075
Canada and Australia have been hit hard by the commodity collapse, and their currencies have crashed, so their property has inflated in local nominal prices, as foreigners have bought anything with a roof (or even without). But their internal economies have not reacted to the loss of export business and imported inflation for consumer goods. They keep high-taxes and high-welfare socialist economies which are sleep-walking off a cliff - this will not end well.
NZ is in a slightly better position, because it produces more agricultural commodities than industrial minerals, and it restructured its taxes and regulations to become more friendly to businesses and individuals (no capital gains tax, no inheritance tax). But its real estate market is also in a crazy bubble, which will collapse if the foreign buyers disappear.