The weight of Chinese money adds to the cost of housing (AU)

``The Kaisa scandal coincides with a nationwide anti-corruption drive, instigated by President Xi Jinping, which has enmeshed hundreds of thousands of government officials. It has precipitated a recession in the gambling centre of Macao, a honeypot for laundering money in the grey economy. The crackdown has caused capital flight, with many Chinese keen to place assets out of the sight and reach of the government... For young people seeking to enter the property markets in Sydney or Melbourne, it is just one more thing to make housing affordability a mirage.''