Harry Triguboff demands migrants to plug property price bleeding

Multi-billionaire apartment developer, “Highrise” Harry Triguboff, is unhappy about the projected decline in immigration because of the COVID-19 pandemic. He has demanded the federal government open Australia’s international border and reboot mass immigration in order to “drive” apartment sales:

Apartment titan Harry Triguboff is calling on the federal government to allow the return of immigrants, saying foreign buyers are among his biggest purchasers.

The multi-billionaire, who develops about 2000 units a year on the eastern seaboard, says it is difficult to sell apartments without foreign purchasers, even though his apartment prices have dropped by one-fifth since the COVID-19 pandemic…

He said immigration was the main driver of apartment purchases and also stressed that ­people must return to working in their city and suburban offices.

…Apart from China, Mr Triguboff said he would also like to see immigration from Korea and India.

We truly live in the real estate version of a narco-state.

There’s a global virus pandemic taking place and all this guy can think about is his own $10.4 billion deep pockets. There’s not a shred of thought about the Australian public’s health or welfare, only Highrise Harry’s own narrow self-interest.

Mass immigration led development is the ultimate Ponzi scheme, with property industry parasites like Highrise Harry privatising the gains while the costs are socialised on the existing population via funding the increasing infrastructure needs (water, power, transport, recreation facilities etc), as well as suffering the downsides via increasing congestion. Now Highrise Harry is extraordinarily cavalier about the virus risks as well, which do not seem to register at all.

A return to the broken economic model of the last cycle is precisely NOT what we need. It drove property prices higher marginalising youth. It corrupted our university standards and introduced deeply undemocratic CCP influences on campus. It corrupted our politics and jeopardised ANZUS. It drove down wages as poor foreign students and temporary migrants poured in. It lowered living standards across cities while enriching only a very narrow set of billionaires like highrise Harry.

A Ponzi scheme is no way to apply government policy for the good of the citizenry. What we need instead is to leave those migrants at home where they can develop their own economies and export our expertise to them there. As well as to restore some of our own productive capacity to lower imports and decouple from CCP aggression.

The housing industry should meet the needs of Australians. Not the other way round.

Unconventional Economist


  1. boomengineeringMEMBER

    Harry could be taught the follies of false economy.
    Putting all his energy into monetary wealth thus shortening his physical health defeats the reward.= less time to reap the benefits.

    • I propose a short cut to that lesson. It involves a hit squad, a length of rope and a sturdy lamp post.

  2. Charles MartinMEMBER

    I can just see old Harry tearing strips of Scummo and the hungarian all for his own perceived glory. The two morons will no doubt captiulate as well.

    • Not necessarily. There’s a little thing called “Democracy” that may be unwell but it’s definitely alive and kicking.

      COVID-19 is the new enemy at the gate and voters will reward governments that keep them safe within the walls of the castle keep and punish those who fail.

      • except when their house value is falling …….. then they’ll vote with harry. greedy, lazy f*ckers

      • There’s no democracy at all around migration. The Budget formalised the intention to push net migration back to an absurd 200K by 2023-24. Not a a word from Albanese or Bandt. Not a word from the press or the academics.

        • Everyone knows cutting back immigration is racist, the Labor party will certainly not be branded as such.


          • Labor can either support what Australians want or they’ll be annihilated at the election.

            Any sensible Australian should be getting behind that narrative and sticking to it in the polling booth.

            There’s only one way to fix this mess.

        • happy valleyMEMBER

          Any last shreds of democracy went out the door when the Impaler won the last election – we’re now effectively in a “defacto benevolent dictatorship” because the opposition (Labor and the Greens) are MIA and after the next election, then well have …?

    • Conservative Snowflake

      Yes funny that. Plenty of Chinese money and developers in Australia building apartments to sell to their Chinese national counterparts.

  3. EZKFA allow’s entrepreneurs like Harry the best of both worlds. An open ‘neo’liberal economy from which to extract economic rent, mainly derived from its existing social capital, and thanks to MultiCult no pesky need to identify or integrate into the society and culture whose economy it is built upon – because that would give rise to social and civic obligations beyond his own community and immediate self interest.

    • Question is, when will he join his mate Frank overseas in retirement?

      Just like Lowy, Australia’s just a zone for him to make cash off pushing self-interested, lazy economic policies and then bail when he’s had his fill and leave the locals to clean up after he’s gone.

      • He wouldn’t care less if Straya resembled a post-apocalypse landscape when he leaves with his loot. He wants to milk this cow till it’s a carcass.

      • Those with exit strategies or plan Bs in the form of dual-citizenship (or right to dual citizenship) should not have so much sway.

        • Agreed – no man can serve two masters. The concept of dual citizenship is ridiculous and basically serves the interests of global elites. Commit to a society and have a say in it, or remain a guest and stay silent.

  4. The weird thing about that spray is that it’s entirely devoid of any sugar coating about benefit to the community. It’s just “the government must do these things to increase *my* profits”. Same same with people returning to work in CBD offices.

    Pure naked greed and self interest. So why would any normal person pay any attention to these ravings? It’s like the bloke who owns the local petrol station telling everybody to buy bigger cars and drive more because he wants more money.

    Harry should just eat sh1t and die.

      • Jim's Central Banking

        Probably because this is directly from Harry and not relayed and filtered through Gotti.

    • blacktwin997MEMBER

      Yes, it’s easy to see his true colours when he gets desperate enough to eschew the use of the Gottliebsen Yarnophone

    • happy valleyMEMBER

      HRH should chill out – his boys, the Impaler and the Hungarian, are on the case and the same page, so plenty of foreign warm bodies will be “blessing” these shores before HRH can say Shalom (ie prosperity, being his and his alone).

  5. He should just lower the prices to meet the market so the locals can buy….. but I would be called a racist for saying this (locals v immigrants)