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As someone from Sydney, you get a wage increase and a rent increase at the same time and they balance each other. And you are then left in a worse situation because inflation.

If you are seriously considering moving to or studying in australia, please don't. The housing crisis is *that* bad.

the bank and the government all have played roles in housing affordability crysis.

and to make it worse, rental is become unreachable

Its clearly a well constructed video with a solid message, but I'm guessing you need either an economics degree or a dictionary of tax and housing terminology to understand most of it. Every second sentence I became lost because i had to over-analyse a stretch of the language. Either that or I'm stupid.

An over policed, over priced poorly run shithole The people that live here are great though

Canada is in the same exact situation, except we have even more terrible weather.

The outcome was the intended outcome.

WAKE UP ALICE!!! , immigration ???

*** Stop allowing mass immigration to CANADA and AUSTRALIA and permanent residents to buy a home and allowing the loop holes to stay wide & open to be taken advantage of by mostly Asian/ South Asian. Health Care is also a major crisis faling

sounds like australia needs a LOT more immigrants. these problems are all due to a lack of diversity.

Worst prime mister ever

If it's impossible then why do 27 million people live there! Hahaha 🤣 Please keep making more videos like this so you and your mates don't come.

Lol Japan is all wtf dude you skipped me for the UK? I'm twice the size and gdp mate lol

Where can i buy a house for 170k in melb ? 😂

The parallels to Canada are incredible. Nimbyism and lack of new homes being built, lack of R&D and an economy dependent on the housing sector, immigration and rent costs spiking since 2020...

This situation arose from greed. Business enthusiasts began promoting property investment as the sole path to wealth in Australia. Consequently, even median income earners find themselves deeply in debt, having purchased luxury cars, multiple properties. This has led to an increase in inflation, a rise in interest rates, and ultimately a crisis in rental affordability and housing. It is sheer greed that has caused these issues

Canada is GAY.

Chinese buying houses here in Australia driving up the price for a lack of supply.

It’s all about he immies

Who can live upside down all day? Blood will flow straight to your brain and die

I LIVE IN AUSTRALIA

Based on all of this, it sounds like you are arguing that capitalism has failed in Canada. Corporations have built huge monopolies and are gouging Canadians, and investors are buying up every home/condo they can, instead of letting average people buy them up. It also sounds like you're arguing that the government hasn't done enough to stop it. Canada certainly has its share of issues, but I don't agree with the tone of this, which is mostly Conservative Party talking points. If they were running things, they'd have let mergers go on and signed bad trade deals with countries, just like they did between 2006 and 2015. The Liberals have made a lot of mistakes, but they also weathered the largest financial and health crisis in the last hundred years. I'm not sure what the fix is, but arguing that the Conservatives would have done any better is specious.

You are showing chinese people while talking about Autralia lol 😂

That's why I'm a 23 year old Australian still living with my parents

Its not hard to understand. Howard and Costello HALVED the capital gains tax, whilst introducing negative gearing. In Australia, we have very high wages mixed with high income taxes. Meaning, if you earn in excess of $200k as an employee, HALF of your earnings go to tax, your only way to minimise the effect of that income tax is to purchase a 2nd property and negatively gear it and use the costs as deductions against your taxable income. You'd be financially illiterate to not find ways to minimise your tax and unfortunately Australia, namely the liberal party, have incentivised you to do this through investment properties.

I'm seriously considering having to move to another country to have a chance to afford to have kids.

Its all good ill get a property out west and live in the shed

Hey im an Australian and have been through the housing crisis and i think the research you have done here is spot on like when i was growing up housing use to be more affordable housing and i definitely prefe 7:59 r renting over owning a house but another important issue to research is that when i was looking at research we actually have more empty homes than people living in them but also real estates need to stop biying up more than at least two houses like its soo greedy why do people need more than one house anyway peace and yeah this has been a bad effect on Australian peoples

I am from India and can say that way to much immigration ruined Canada's economy

Maybe they could build 3 to 15 storey apartment buildings not not semi-detached family houses?

This is a cool documentary, Alot of young people from London, UK are looking moving to Australia...

Damn international buyers and students. There's buyers who buy property and just let it sit until they want to do something with it. Others buy a bunch of properties to turn into apartments. International students can easily outbid locals for rentals.

Other then the spike due to covid, all the major rises were while the liberal party was in. And as a 26 year old thats had atleast 20% sitting in my pocket for the last 3 years to buy house in small town 2 hours out of melbourne. Its bloody Bs.

The housing and affordability problem is worldwide, except for a few countries, like China that have overbuilt and have many ghost cities. Aus did not invest in internet infrastructure like fibre optics and cable, my cuz was shocked when he tested my home internet to be 500 MB, his was only 25MB, he can't stream 4K content, his jaw dropped when i showed him 8K videos on TH-cam.

0:18 I was expecting him to say "the spiders"

Similar to Hong Kong. One of Hong Kong Chief Executive Governor resigned because he successfully decreased House price too much and people start protesting hate this. Now days, no politicians in Hong Kong want to touch housing prices.

this video is a joke. ive seen so many stats in the comments get corrected. life is hard in Canada but lets not make shit up.

Uncontrolled/unfiltered mass immigration.

I gave up on Australia years ago. Luckily, I had the option to claim Euro citizenship through descent. But I know most people aren't that lucky.

Australian economy can be summarised as bubble economy. I wonder what the next bubble will be? Or will 30+ years of shifting from one bubble to another finally come to an end? Either way, i wont know as i moved out when the writing was on the wall. Good luck.

more of an opinion piece but yeah