Let me tell you a story to help you understand what is happening now: About 10 years ago, it was the hottest time for Chinese people to buy houses in Australia The price of new apartments near Sydney city center has skyrocketed from less than AUD 600000 for 2-bedroom apartments in 2013 to AUD 800000 to AUD 1.1 million This is certainly not something that can be achieved overnight. Since around 2008, China has been pursuing the so-called "going global" strategy, investing heavily in acquiring overseas assets. And Australia's minerals and land are the first to bear the brunt A large number of immigrants, a large amount of funds, and the lenient implementation of FIRB overseas investment restrictions in Australia at that time, foreigners could obtain the same loan from Australian banks as locally when buying houses in Australia During this period, you walked on the streets of Sydney and Melbourne and found that there were large-scale Chinese real estate agents everywhere No matter what you do, as long as you are Chinese, almost 70% of the people around you sell houses on their social media or have received overseas real estate investment and sales training Until the end of 2016 At this moment, two major events occurred: Firstly, the Australian government has begun to strictly implement the FIRB policy, prohibiting foreigners from purchasing properties other than apartments, new homes, and undeveloped land; Australian banks can no longer provide home loans to foreigners and can only do so through mortgage funds, with interest rates three percentage points higher Secondly, the Chinese Communist government has also announced a regulation restricting residents from exchanging foreign currency for an annual period of $50000, and has increased the level of approval at the upper level Until today, the apartment prices in Mascot are still similar to ten years ago And during the same period: -Mascot's rent has increased by 63% -The price of detached houses in Sydney (only available to locals) has increased by 76% -The 10-year inflation rate in Australia is approximately 33% Has the scarcity of apartments in these areas decreased? No, it's still the busiest area in Sydney, with very little land near the subway Just the external liquidity situation has changed (of course, Australia's investment policy has also continued to deteriorate), leading to a bear price trend But will it change later? Of course The best example is the tourist city of Australia - Gold Coast In the 1980s, they were the first place in Australia to start high-rise residential construction, and apartment prices surpassed Sydney and Melbourne, far ahead. The biggest buyer was the Japanese at that time Then there is the nearly 20-year underperformance of the real estate market But in 25 years, the Gold Coast once again surpassed Sydney to become the most expensive city for apartments in Australia: at the 2032 Queensland Olympics, the cost of living in Sydney and Melbourne became outrageous, and wealthy people from across states had to flock in What does this story tell the cryptocurrency community? The scarcity of assets will not change, but liquidity will rotate. Don't underestimate yourself, and don't overdo it (The picture shows the tower crane collapsing above my house back then)