You are largely correct however you simply cannot firehose in 850,000 more people into the nation in under 18mths without there being further problems for housing. We need more skilled migrants as 50,000+ 2nd & 3rd year apprentices have left construction industry in the past year alone! We need to drop all taxation on doing an apprenticeship to encourage more tradies to start a career in construction. We need to regulate landlordism into the ground and we need to appropriately allocate and regulate immigration policies so as not to overcrowd people into a housing crisis. .
@@aussiejinjo Pingers is ignoring that not enough houses were being built during COVID and then post-COVID building materials shortages. I would like to see his figures broken down on paper because it does not add up. I'm not blaming migrants at all, I am blaming government lack of planning. Of all the people mentioned, they all have to live somewhere! Even if we cancelled tourism for a while (hypothetically), that sucks definitely and would stuff a lot of industry so I would not actually advocate for it, but at least that would free up AirBnBs for actual living.
@@retabera there is no ability for the government to 'plan' their way out of the massive immigration intake, which has been going on for roughly the last fifteen or so years now. this didn't just start post-covid, the media only started talking about it loudly since then. australia is already one of the biggest home builders in the oecd with one of the largest construction to non construction worker ratios, but that isn't enough to accommodate immigration driven population growth. it just isn't going to happen regardless of what either yimby morons or public housing solution spruikers will tell you.
@@retabera no, it wouldn't 'free up' AirBnbs because they'd just be put into land banking by the majority of owners. The Australian political and mainstream cultural narrative towards renters is part of the problem- renters are considered 'scum' by the majority of landlords and are seen as disposable. Laws would need to substantially change towards addressing this before any shift in the renting landscape could occur. Never underestimate the ability of 'ordinary' Australians to heap hate on any particular group they deem 'other'.
why does the liberal party do nothing to reduce immigration when they are in power? liberal and labour have a financial incentive to drive economic growth without considering how it affects the working class.
Well they did. As a migrant, I know because the visa rules used to be stricter...but they sure as hell didn't take action over the housing situation. Can only blame Labor so much when they have only been in power for a few years.
People need to understand that there can be more then one cause of an issue... Immigration isnt helping but neither is 1. Lack of social housing. 2. Interest rates. 3. Housing speculation caused by... 4. Government policy which is dictated by... 5. Lobbying...and... 6. Overseas investment
I don't think anyone is blaming those who legally come to this country at all , its the government policy of not restricting numbers while under a housing crisis , you can't with one hand say we don't have enough houses (we don't even if you snapped your fingers and airbnb's were gone tomorrow , still not enough) , its not the people but the government , and if you argue against this point then why have a border at all , thats your argument - just let people come freely no point in a border, so you can logically agree that control and therefor control in numbers IS a logical thing but just not said in the context of a housing crisis ?
Hey mate, I realise this is a touchy topic but I have to correct you on some factors. Claiming that wiping 4% of renters from the market wouldn't have an impact on the rental market at 4:00 is not correct. In fact this would result in a extra 4% vacancy rate according to your data (4% of all renters). Even if only half of this number actually doesn't use student housing, this would bring Vacancy rates back to 2021 levels (>3%). Plus a great deal of domestic students would stay in student housing longer (most leave by 2nd or 3rd year due to rising costs). There's also the idea that 'foreign students pay for locals'. Which on the face of it seems true. If your HECs was $30k, your true degree cost was likely $60k. International students pay 3-4 times the cost of a local, so there's a net of $120k (4x$30). This would mean a single international would at minimum, pay for themselves and 1 domestic student in full ($60k) or 2 with HECs. The key point here is domestic students do not get a free education, which means that the money that is 'subsidising' their education is largely going elsewhere. A check of any major financial report from a university would tell you where; their monetary foundation. Our domestic students are really funded by taxpayer loans (HECs). With minimal subsidies by international students. While hopeful new Australians are being exploited for the savings, in return for slim future prospects. Some basic maths would suggest that lowering the intake of that 61% (mostly students) would greatly alleviate the housing market, and improve long-term outcomes for all students, international and domestic (wages, housing, job opportunities etc). The housing crisis might have a number of factors contributing to it. But migration is one of them, and claiming otherwise isn't going to help your case.
International students are just the cream on top for uni's its their big profit , they still profit off local students , just not as much , the idea that international students "subsidises" local students is a farce .
I don't know how serious Purple Pingers really is about the housing crisis if he isn't prepared to go up against the sacred cow of progressives on immigration and the implications to the rental vacancy rates and homelessness. He's being a coward, just like the Greens like Max Chandler-Mather that repeat this rhetoric. People like Leith Van Onselen seem more sincere about this issue.
Mate, that's not even the half of it. Most working holiday visitors are staying in private rooms which are not registered in those stats. Pingers wouldn't know that coz he only hangs out with inner city lentil eating commies.
No one is blaming immigrants. They are blaming the Labor Party. The Labor party no longer represents workers. It represents big business and corporate universities, who benefit from more customers. (That was a bizarre point re only 4% of properties occupied by foreign students - the current vacancy rate is 1%. A 25% cut would double the vacancy rate, you may as well have endorsed Dutton's policy)
But at the same time, is there not some blame for the former government aswell? I mean they were in power for quite some time, while the housing crisis was actively getting worse...at a time when visa rules were actually stricter.
@@JimP-tc7gg Does ALP want to solve the problem, or just pretend to solve the problem? Taking action today by locking in negative Net Overseas Migration for a few years to make up for their stuff up running it up to record breaking levels during their term in power would show they are taking this issue of low rental vacancy rates seriously. Immigration is just part of the solution though, they need to increase public housing stock, and it is pointless to increase public housing stock if you are going to continue to excessively run up housing demand with high immigration.
Where do you think international students go given that there is no accomodation? What do you think happens when they bid on rentals? Come one Pingers. Use a bit of logic.
I think the issue with migration was the sharp increase per year, even if it was net the same amount it still is a bottle neck like what happened with the stimulus money for those years, the per year rate of increase rather than amount seemed to matter more. This might mean that it will become stable in the coming year onwards because the yearly intake is returning to normal.
You raise valid downsides to cutting migration, but it is undeniable that historic migration levels are a significant factor to the rental vacency rate. The weakness of this argument is the utter rejection that it's even a factor.
Was just listening to Cameron Murray (Elephant in the Room). 10% of the population are left behind so public housing for them. Let the market rip theory because you know pension futures is tied to my housing assets and I'm a "Lord with land". But was thinking yeah, but it keeps coming back to, let the market rip = fois gras my pension account. Who benefits? Gov't not paying pension futures? But the 80% of pensioners lining up for aged pension is not falling. So we appear to have double dipping going on in tax and transfers. So if we dealt with the 80% who are landlords in working age and pensioners in younger/older age we might have the budgets to build the housing we need if people continue living to 120 etc. Happy to slap landlords on the bum🤑 but not if they then line up again for another $1million in taxpayer funding later on in old age👴👵. Spigot off time.
You didn't talk about the remaining 22% of immigrants? What are they? What number do they make up. You're right it's not because of immigrants it's because of supply and demenad. You can have any number of immigrants if you build in places where there are jobs at the same rate but no one does that
I follow you as someone who doesn’t agree at all with what you’re doing but am always looking for other angles to the problem. I build hundreds of houses a year with a construction company that’s been around for 35+ years and seen it all and have also sold enterprise software into all the major states for government housing and have had privileged insights into these departments at the most granular levels. I have a unique depth and long term view of things and I disagree with your statements here. Immigration is a major issue, it’s probably number 1 that’s in our control to dial down right now and give us breathing room to figure things out. All the other issues around skills shortage, supply chains, land supply, affordability, land banking, stock supply etc have been issues that haven’t been resolved for decades after so much effort at every level of industry and government. Immigration is a lever that can be pulled with the current government instantly if they had our best interests at heart. There are good guys in the inside trying our best in every way but this immigration thing is just too much. The countries we are taking people from have more liquid millionaires than we have total population who will happily come here if it means buying an overpriced dwelling for a few million dollars believe me, I’ve just come back from 2 years of business in SE Asia in tech dealing with this. It will never stop (immigration) and our government needs to protect the citizens first. I don’t get why there is this political left/class warfare dissonance and you can’t just see it. I wish I could be more public about this, I’m hoping to soon so I can share more but I just ask you take a step back and be realistic as someone who has been in the trenches in the industry, the government side and the immigration side. There are many disappointed people inside who don’t just want the property values to go up, who want a balanced future for our children and think about everyone.
Mate, this reads like you're saying you've been party to and part of decades of abject failure, now if we can just ignore the reality and scapegoat here we can have a few more years to continue failing spectacularly. Not address the huge systemic failures. Total useless cop-out to ignore massive problems and inequities ongoing for decades, that has benefitted some who now appear to cry crocodile tears for their kids and future generations
I thought he was making a valid contribution Peter. Immigration is only one part of the issue but it is the immediate lever the government can pull to reduce pressure on renters, property prices and infrastructure.
@@peter1448 The point of my comment is I have been trying fix these issues forever and do care about this alot. I just didn't want to turn my comment into more of a novel than it already is. I'm a capitalist number one but have standards, which I know is hard to believe, We've been walking away from lots of work the last decade once builders wanted to take shortcuts and I sleep well at night as half my business is large commercial and half is premium residential so we're doing things right with a fair margin. It's an old school way of operating but like I said I sleep well at night after I woke up to the ponzi scheme that this is a decade ago. Also not that it matters but I took quite a while off from this business and got in the software world as well, In that time I made multiple times more wealth in a short period being apart of building and selling a company, working overseas etc so I'm not some dumb ass builder that can't do anything else with my time and skills. We're all aussies and want the best for this place, The sad thing is at this rate no amount of wealth will make things course correct past an entrenched class system of haves and haves not and that doesn't sit well with me as it's not what I signed up for growing up here. They've changed the social contract from under us without asking and our children are screwed without huge amounts of help.
1. Treat housing as a human right rather than an investment and adjust the tax system accordingly: Disincentivise things like land banking, owning empty homes, and buying up livable homes in demand for AirBnB. Abolish negative gearing. Make housing a worse investment. 2. Create incentives to redistribute the existing housing supply. There are actually more than enough homes to house everybody now without building anything new, but it requires redistribution. Since the kids have moved out, lots of boomers are now couples bouncing around in empty 4+ bedroom homes, while the next generation thinking about starting a family can barely afford to live in a 1-2 bedroom property. This is a hard one to tackle but there should be incentives for people to downsize after their kids move out. 3. Build more social and affordable housing - the kinds of housing that Australians can use in places they can access the services they need. In particular, increase medium and high-density housing supply.
sorry professor your math is off. in regards to international students your not thinking about it in terms of impact on the vacancy rate. look at where students are living and what percent that is reducing these numbers would have a massive impact on vacancy rates and hence the housing crisis. also your data is from 2021. can you explain why the vacancy rate was so high during covid and so low now then? we can’t build more if we don’t have the tradies and the cost to build just goes up when we do build more and causes more inflation. we are at our inflationary limits on the supply side due to multiple unfixable factors that money can’t fix. hence an immigration cut is the ONLY SOLUTION. please respond to this point as when i argue this point i only ever get apologies from people and i need to know where to vote coz i always vote progressive/far left.
why do you think labor is introducing student caps unless universities provide and build more purpose built student accommodation? because it will help massively obviously
I agree no-one but as with everything the Alternative Liberal Party says, it's just lip service. After all of the discussions, papers, back and forths, consultations the government won't make the universities do anything. Sorry to be cynical but it's just going to ensure the professional classes in the Public Services (and their private consultants) waste our taxpayer $. I'll be voting Sustainable Australia too.
i wish our generation wasnt so weak and cowardly to obsessive over a housing crisis boo hoo we all have to pay heaps for rent. quality of life in this country is outstanding keep coping and act like a crack in the ceiling or some mould is the end of the world, but I think its orders of magnitude less serious of an issue than so many things nobody seems to care about. we could do so much more than fix a housing crisis
if you want to engage conservatives in a discussion about immigration. it shuts down the conversation when you use labels like ‘fascists’ and ‘racists’. why not try to understand their concerns in the best faith possible, and engage with that. would doubling our skilled migrant and student visa intake, be neutral or have a positive effect on our housing market for australian renters? do immigrants from islamic countries want to embrace australian values like invlusivity and things like gay marraige and abortion being legal.? i think it’s more complex than just saying this is a taboo thing to question and if you do your an ism
Honestly who do you think is approaching the debate genuinely? Those who use the data and those who scream about being overun or making disingenuous claims like doubling current numbers? Like no-one is claiming to want that, so it just seems totally bad faith straw man argument to even try and use it as a point. Who's actually using real data and numbers and analysis in this debate? The whole 100,000 / mth meme is total BS and there's heaps of totally bogus views being pushed. There's also been literally Nazi's walking the streets under banners of Australia for the White man in recent times. Totally disingenuous to suggest that this view isn't part of the debate and being used in this country too
@@peter1448 You do realise that 99% of us couldn't give a shit about all the drama and race baiting. We just want the best for our families and future generations. Those stats do not give an accurate number on the true impact of our ridiculous immigration policy.
@@domlipski5226 if you think BS made up numbers and xenophobic takes over actual real world data will deliver a better world for your kids and future generations, sorry I think that's the triumph of ignorance and BS over reality. You speak for no-one but yourself mate. Anyone claiming to speak for 99% of others is likely just deluding themselves to support whatever view they want to hold
@@peter1448your position is actually pushing the inarticulate to the extreme right. By immediately dismissing relevant and reasonable arguments as xenophobic you are alienating yourself from widespread debate. The 'I don't accept the premise of the question' is a lazy Scott Morrison shutdown.
That was the most sensible seven-ish minutes on Immigration i have ever seen. Well done as always for having a level head, a clear way of putting things and speaking some sense out into the vast vaccum of utter bullshit there is on youtube, mainstream media and social media. Also, i'm not sure whether you should fire or promote your auto-subtitler for referring to you as _purple penis_ at 6:17 hehehe :P
All i know is thay once covid kicked in there were a ton of appartments going for half price or 70% cheaper then now, non student normal places. Is this bloke getting paid ?
If Immigrants were the main cause then shouldn't there be a place on Earth where housing is cheap, because everywhere is having a housing crisis at the moment and immigrants are blamed every where as well. Is there are place called immigrant land that we are all missing in these statistics?
@@redblade0 thats garbage, Japan in the cities has very expensive housing, go look up apartments anywhere in tokyo and its only slightly cheaper than Sydney. its just in mountainous towns where no one lives its cheap. Which is the same here.
@@windwaker0rules Tokyo is expensive purely on a per sqm basis due to density but there are relatively cheap properties in Osaka and Nagoya. Every major city in AUS, NZ and CAD is more expensive than all the 2nd and 3rd tier Japanese cities. They've been in a slump for 20+ years.
Did you watch the video? I admit you do need to work your brain a bit for this, but the critical point is this: Most migrants do not increase housing demand. Why? Because they don't use the same housing we do. A huge bulk are students living in purpose-built student accommodation, visitors staying in hotels etc. There are very few categories where the demand for the housing we use actually increases, and those categories are for industries we desperately need workers. Industries perhaps like... Construction!
@@astewartau utterly ridiculous. Go to any open house in the major cities and play spot the Aussie. Real estate agents have interpreters on hand. Try working your brain...
Excellent video, Pingers. It's enraging seeing this argument trotted out to cover for successive governments having failed to tackle the housing problem
Migration is at record levels. So what if you average it over 4 years? It's still the highest number its ever been! Meanwhile there's less houses because hardcore enviro nuts have pushed the "carbon neutral" compliant material prices through the roof.
Housing started becoming generally unaffordable in the mid 2000s which coincides almost perfectly with the time that John Howard hiked immigration levels and the student visa ponzi scheme was introduced. Average home prices increased from roughly four times the average income in 2001 to roughly 10 times the average income today. I can guarantee you home prices did not increase at the same rate over the preceding 20 years. Squatting in a few vacant houses as your edgy statement against capitalism is a piss in the ocean.
@@coopsnz1Deregulation and privatisation under Keating brought 'the recession we had to have' since he was a capitalistic vampire. Howard and Costello reaped the benefits of this restructure of our economy but only after the pain of transition. It was Costello and Howard that started this hyper outsourcing of government policy and regulations that has brought us to this point.
Exactly ilikevines, Alan Kohler has detailled the arguments in his essay for The Guardian. I'd listen to Alan, Saul Eslake, Leith Van Onselen and Greg Jericho before I'd listen to Pingers on the immigration issue. There is more nuance to the POPULATION argument then branding people dumb and stupid after cherry picking stats
You are largely correct however you simply cannot firehose in 850,000 more people into the nation in under 18mths without there being further problems for housing. We need more skilled migrants as 50,000+ 2nd & 3rd year apprentices have left construction industry in the past year alone! We need to drop all taxation on doing an apprenticeship to encourage more tradies to start a career in construction. We need to regulate landlordism into the ground and we need to appropriately allocate and regulate immigration policies so as not to overcrowd people into a housing crisis. .
he's not correct at all
@@aussiejinjo Pingers is ignoring that not enough houses were being built during COVID and then post-COVID building materials shortages. I would like to see his figures broken down on paper because it does not add up. I'm not blaming migrants at all, I am blaming government lack of planning. Of all the people mentioned, they all have to live somewhere! Even if we cancelled tourism for a while (hypothetically), that sucks definitely and would stuff a lot of industry so I would not actually advocate for it, but at least that would free up AirBnBs for actual living.
@@retabera there is no ability for the government to 'plan' their way out of the massive immigration intake, which has been going on for roughly the last fifteen or so years now. this didn't just start post-covid, the media only started talking about it loudly since then. australia is already one of the biggest home builders in the oecd with one of the largest construction to non construction worker ratios, but that isn't enough to accommodate immigration driven population growth. it just isn't going to happen regardless of what either yimby morons or public housing solution spruikers will tell you.
@@retabera no, it wouldn't 'free up' AirBnbs because they'd just be put into land banking by the majority of owners. The Australian political and mainstream cultural narrative towards renters is part of the problem- renters are considered 'scum' by the majority of landlords and are seen as disposable. Laws would need to substantially change towards addressing this before any shift in the renting landscape could occur. Never underestimate the ability of 'ordinary' Australians to heap hate on any particular group they deem 'other'.
Australia has one of the largest number of construction workers in the world, they are not building affordable homes
cant believe how many wrong things you said. Also seemingly completely oblivious to the concept of "flow on effects"
At this point in time very historically high rates of immigration are an exacerbating factor,not the cause, at this point in time.
The lack of government planning and mitigation action is the cause
why does the liberal party do nothing to reduce immigration when they are in power?
liberal and labour have a financial incentive to drive economic growth without considering how it affects the working class.
Well they did. As a migrant, I know because the visa rules used to be stricter...but they sure as hell didn't take action over the housing situation. Can only blame Labor so much when they have only been in power for a few years.
You should go on walk the world and debate this with Martin North & Edwin Almeda.
Or Leith Van Onselen at Macrobusiness.
debates are racist. migrants reduce rents
@@aaronhogan2371 he'd get rekt
People need to understand that there can be more then one cause of an issue...
Immigration isnt helping but neither is
1. Lack of social housing.
2. Interest rates.
3. Housing speculation caused by...
4. Government policy which is dictated by...
5. Lobbying...and...
6. Overseas investment
All of which were presided over for far longer by the former government.
"more migrants at your rental inspection mean cheaper rents"
Lolz
I don't think anyone is blaming those who legally come to this country at all , its the government policy of not restricting numbers while under a housing crisis , you can't with one hand say we don't have enough houses (we don't even if you snapped your fingers and airbnb's were gone tomorrow , still not enough) , its not the people but the government , and if you argue against this point then why have a border at all , thats your argument - just let people come freely no point in a border, so you can logically agree that control and therefor control in numbers IS a logical thing but just not said in the context of a housing crisis ?
Hey mate,
I realise this is a touchy topic but I have to correct you on some factors. Claiming that wiping 4% of renters from the market wouldn't have an impact on the rental market at 4:00 is not correct. In fact this would result in a extra 4% vacancy rate according to your data (4% of all renters). Even if only half of this number actually doesn't use student housing, this would bring Vacancy rates back to 2021 levels (>3%). Plus a great deal of domestic students would stay in student housing longer (most leave by 2nd or 3rd year due to rising costs).
There's also the idea that 'foreign students pay for locals'. Which on the face of it seems true. If your HECs was $30k, your true degree cost was likely $60k. International students pay 3-4 times the cost of a local, so there's a net of $120k (4x$30). This would mean a single international would at minimum, pay for themselves and 1 domestic student in full ($60k) or 2 with HECs. The key point here is domestic students do not get a free education, which means that the money that is 'subsidising' their education is largely going elsewhere. A check of any major financial report from a university would tell you where; their monetary foundation. Our domestic students are really funded by taxpayer loans (HECs). With minimal subsidies by international students. While hopeful new Australians are being exploited for the savings, in return for slim future prospects.
Some basic maths would suggest that lowering the intake of that 61% (mostly students) would greatly alleviate the housing market, and improve long-term outcomes for all students, international and domestic (wages, housing, job opportunities etc). The housing crisis might have a number of factors contributing to it. But migration is one of them, and claiming otherwise isn't going to help your case.
Well said and well reasoned.
International students are just the cream on top for uni's its their big profit , they still profit off local students , just not as much , the idea that international students "subsidises" local students is a farce .
I don't know how serious Purple Pingers really is about the housing crisis if he isn't prepared to go up against the sacred cow of progressives on immigration and the implications to the rental vacancy rates and homelessness.
He's being a coward, just like the Greens like Max Chandler-Mather that repeat this rhetoric. People like Leith Van Onselen seem more sincere about this issue.
Mate, that's not even the half of it. Most working holiday visitors are staying in private rooms which are not registered in those stats. Pingers wouldn't know that coz he only hangs out with inner city lentil eating commies.
@@JosephGoebbelcoqueabsolutely
No one is blaming immigrants. They are blaming the Labor Party. The Labor party no longer represents workers. It represents big business and corporate universities, who benefit from more customers. (That was a bizarre point re only 4% of properties occupied by foreign students - the current vacancy rate is 1%. A 25% cut would double the vacancy rate, you may as well have endorsed Dutton's policy)
But at the same time, is there not some blame for the former government aswell? I mean they were in power for quite some time, while the housing crisis was actively getting worse...at a time when visa rules were actually stricter.
@@JimP-tc7gg Does ALP want to solve the problem, or just pretend to solve the problem? Taking action today by locking in negative Net Overseas Migration for a few years to make up for their stuff up running it up to record breaking levels during their term in power would show they are taking this issue of low rental vacancy rates seriously.
Immigration is just part of the solution though, they need to increase public housing stock, and it is pointless to increase public housing stock if you are going to continue to excessively run up housing demand with high immigration.
@@JimP-tc7gg Yes I agree
@@JosephGoebbelcoque taxes up 20% the not solving the problem halauge tax "fuel excsie , alchoal & ciggretes tax 10% more in 2 yrs
Where do you think international students go given that there is no accomodation? What do you think happens when they bid on rentals? Come one Pingers. Use a bit of logic.
Name calling those who do not agree with you position... I was listening up till that point. Such a low form of debate.
I think the issue with migration was the sharp increase per year, even if it was net the same amount it still is a bottle neck like what happened with the stimulus money for those years, the per year rate of increase rather than amount seemed to matter more. This might mean that it will become stable in the coming year onwards because the yearly intake is returning to normal.
You raise valid downsides to cutting migration, but it is undeniable that historic migration levels are a significant factor to the rental vacency rate. The weakness of this argument is the utter rejection that it's even a factor.
Was just listening to Cameron Murray (Elephant in the Room). 10% of the population are left behind so public housing for them. Let the market rip theory because you know pension futures is tied to my housing assets and I'm a "Lord with land". But was thinking yeah, but it keeps coming back to, let the market rip = fois gras my pension account. Who benefits? Gov't not paying pension futures? But the 80% of pensioners lining up for aged pension is not falling. So we appear to have double dipping going on in tax and transfers. So if we dealt with the 80% who are landlords in working age and pensioners in younger/older age we might have the budgets to build the housing we need if people continue living to 120 etc. Happy to slap landlords on the bum🤑 but not if they then line up again for another $1million in taxpayer funding later on in old age👴👵. Spigot off time.
Thank you
First sentence demonstrates a lack of understanding of supply & demand. Oh well.
supply is whatever the developer says it is and demand is infinite.
You didn't talk about the remaining 22% of immigrants? What are they? What number do they make up. You're right it's not because of immigrants it's because of supply and demenad. You can have any number of immigrants if you build in places where there are jobs at the same rate but no one does that
I follow you as someone who doesn’t agree at all with what you’re doing but am always looking for other angles to the problem. I build hundreds of houses a year with a construction company that’s been around for 35+ years and seen it all and have also sold enterprise software into all the major states for government housing and have had privileged insights into these departments at the most granular levels. I have a unique depth and long term view of things and I disagree with your statements here. Immigration is a major issue, it’s probably number 1 that’s in our control to dial down right now and give us breathing room to figure things out.
All the other issues around skills shortage, supply chains, land supply, affordability, land banking, stock supply etc have been issues that haven’t been resolved for decades after so much effort at every level of industry and government. Immigration is a lever that can be pulled with the current government instantly if they had our best interests at heart. There are good guys in the inside trying our best in every way but this immigration thing is just too much.
The countries we are taking people from have more liquid millionaires than we have total population who will happily come here if it means buying an overpriced dwelling for a few million dollars believe me, I’ve just come back from 2 years of business in SE Asia in tech dealing with this. It will never stop (immigration) and our government needs to protect the citizens first. I don’t get why there is this political left/class warfare dissonance and you can’t just see it. I wish I could be more public about this, I’m hoping to soon so I can share more but I just ask you take a step back and be realistic as someone who has been in the trenches in the industry, the government side and the immigration side.
There are many disappointed people inside who don’t just want the property values to go up, who want a balanced future for our children and think about everyone.
Mate, this reads like you're saying you've been party to and part of decades of abject failure, now if we can just ignore the reality and scapegoat here we can have a few more years to continue failing spectacularly. Not address the huge systemic failures.
Total useless cop-out to ignore massive problems and inequities ongoing for decades, that has benefitted some who now appear to cry crocodile tears for their kids and future generations
I thought he was making a valid contribution Peter. Immigration is only one part of the issue but it is the immediate lever the government can pull to reduce pressure on renters, property prices and infrastructure.
@@peter1448 The point of my comment is I have been trying fix these issues forever and do care about this alot. I just didn't want to turn my comment into more of a novel than it already is.
I'm a capitalist number one but have standards, which I know is hard to believe, We've been walking away from lots of work the last decade once builders wanted to take shortcuts and I sleep well at night as half my business is large commercial and half is premium residential so we're doing things right with a fair margin. It's an old school way of operating but like I said I sleep well at night after I woke up to the ponzi scheme that this is a decade ago.
Also not that it matters but I took quite a while off from this business and got in the software world as well, In that time I made multiple times more wealth in a short period being apart of building and selling a company, working overseas etc so I'm not some dumb ass builder that can't do anything else with my time and skills.
We're all aussies and want the best for this place, The sad thing is at this rate no amount of wealth will make things course correct past an entrenched class system of haves and haves not and that doesn't sit well with me as it's not what I signed up for growing up here. They've changed the social contract from under us without asking and our children are screwed without huge amounts of help.
What’s the answer to solve this housing crisis?
1. Treat housing as a human right rather than an investment and adjust the tax system accordingly: Disincentivise things like land banking, owning empty homes, and buying up livable homes in demand for AirBnB. Abolish negative gearing. Make housing a worse investment.
2. Create incentives to redistribute the existing housing supply. There are actually more than enough homes to house everybody now without building anything new, but it requires redistribution. Since the kids have moved out, lots of boomers are now couples bouncing around in empty 4+ bedroom homes, while the next generation thinking about starting a family can barely afford to live in a 1-2 bedroom property. This is a hard one to tackle but there should be incentives for people to downsize after their kids move out.
3. Build more social and affordable housing - the kinds of housing that Australians can use in places they can access the services they need. In particular, increase medium and high-density housing supply.
Allow people to empty their super to buy a house. You may as well use your money today because you might be dead before you hit 65.
less government
Communism, apparently.
Too many vacant houses and apartments owned by land bankers.
We have the lowest rental vacancy rate on the books right now, be serious
@@ilikevines that's irrelevant
wrong not enough built because government greedy pigs
Still keen to see you and friendlyjordies sit down and wag chins
That conversation might actually fix Australia
I think they'd disagree on quite a few things, especially Jordan being a self touting labor shill.
You're delusional if you think it'd change anything.
Magic thinking renders supply and demand obsolete. Ok. Very cool. Enjoy renting for the rest of life.
sorry professor your math is off. in regards to international students your not thinking about it in terms of impact on the vacancy rate. look at where students are living and what percent that is reducing these numbers would have a massive impact on vacancy rates and hence the housing crisis. also your data is from 2021. can you explain why the vacancy rate was so high during covid and so low now then? we can’t build more if we don’t have the tradies and the cost to build just goes up when we do build more and causes more inflation. we are at our inflationary limits on the supply side due to multiple unfixable factors that money can’t fix. hence an immigration cut is the ONLY SOLUTION. please respond to this point as when i argue this point i only ever get apologies from people and i need to know where to vote coz i always vote progressive/far left.
why do you think labor is introducing student caps unless universities provide and build more purpose built student accommodation? because it will help massively obviously
i will vote for sustainable australia party they are far left and want much lower immigration thanks purple pingers
I agree no-one but as with everything the Alternative Liberal Party says, it's just lip service. After all of the discussions, papers, back and forths, consultations the government won't make the universities do anything. Sorry to be cynical but it's just going to ensure the professional classes in the Public Services (and their private consultants) waste our taxpayer $. I'll be voting Sustainable Australia too.
Common sense out the window ,
You need to watch Dr Zhivago again.
Your understanding of basic economics is astounding 🙄
i wish our generation wasnt so weak and cowardly to obsessive over a housing crisis boo hoo we all have to pay heaps for rent. quality of life in this country is outstanding keep coping and act like a crack in the ceiling or some mould is the end of the world, but I think its orders of magnitude less serious of an issue than so many things nobody seems to care about. we could do so much more than fix a housing crisis
terrible reasoniing
if you want to engage conservatives in a discussion about immigration. it shuts down the conversation when you use labels like ‘fascists’ and ‘racists’.
why not try to understand their concerns in the best faith possible, and engage with that.
would doubling our skilled migrant and student visa intake, be neutral or have a positive effect on our housing market for australian renters?
do immigrants from islamic countries want to embrace australian values like invlusivity and things like gay marraige and abortion being legal.?
i think it’s more complex than just saying this is a taboo thing to question and if you do your an ism
Why did you bring Islam into this?! And who the fk said Australia is accepting 😂😂 white people to other white people sure 😂😂
Honestly who do you think is approaching the debate genuinely?
Those who use the data and those who scream about being overun or making disingenuous claims like doubling current numbers?
Like no-one is claiming to want that, so it just seems totally bad faith straw man argument to even try and use it as a point.
Who's actually using real data and numbers and analysis in this debate? The whole 100,000 / mth meme is total BS and there's heaps of totally bogus views being pushed.
There's also been literally Nazi's walking the streets under banners of Australia for the White man in recent times. Totally disingenuous to suggest that this view isn't part of the debate and being used in this country too
@@peter1448 You do realise that 99% of us couldn't give a shit about all the drama and race baiting. We just want the best for our families and future generations. Those stats do not give an accurate number on the true impact of our ridiculous immigration policy.
@@domlipski5226 if you think BS made up numbers and xenophobic takes over actual real world data will deliver a better world for your kids and future generations, sorry I think that's the triumph of ignorance and BS over reality. You speak for no-one but yourself mate. Anyone claiming to speak for 99% of others is likely just deluding themselves to support whatever view they want to hold
@@peter1448your position is actually pushing the inarticulate to the extreme right. By immediately dismissing relevant and reasonable arguments as xenophobic you are alienating yourself from widespread debate. The 'I don't accept the premise of the question' is a lazy Scott Morrison shutdown.
That was the most sensible seven-ish minutes on Immigration i have ever seen. Well done as always for having a level head, a clear way of putting things and speaking some sense out into the vast vaccum of utter bullshit there is on youtube, mainstream media and social media.
Also, i'm not sure whether you should fire or promote your auto-subtitler for referring to you as _purple penis_ at 6:17 hehehe :P
Reality check, you can't have a level head quoting both bogus stats and Karl Marx.
All i know is thay once covid kicked in there were a ton of appartments going for half price or 70% cheaper then now, non student normal places. Is this bloke getting paid ?
If Immigrants were the main cause then shouldn't there be a place on Earth where housing is cheap, because everywhere is having a housing crisis at the moment and immigrants are blamed every where as well. Is there are place called immigrant land that we are all missing in these statistics?
Yeah Japan. Low immigration, no housing crisis
Coober Pedy, buy a house for under 90 grand. Just live surrounded by absolutely feral boongs with bugger all shops
@@redblade0 thats garbage, Japan in the cities has very expensive housing, go look up apartments anywhere in tokyo and its only slightly cheaper than Sydney.
its just in mountainous towns where no one lives its cheap. Which is the same here.
@@windwaker0rulestrue 😂😂😂 houses be small af too
@@windwaker0rules Tokyo is expensive purely on a per sqm basis due to density but there are relatively cheap properties in Osaka and Nagoya. Every major city in AUS, NZ and CAD is more expensive than all the 2nd and 3rd tier Japanese cities. They've been in a slump for 20+ years.
Yeah obviously increasing demand for something will not lead to higher prices or supply scarcities . lol
Did you watch the video? I admit you do need to work your brain a bit for this, but the critical point is this:
Most migrants do not increase housing demand.
Why? Because they don't use the same housing we do. A huge bulk are students living in purpose-built student accommodation, visitors staying in hotels etc. There are very few categories where the demand for the housing we use actually increases, and those categories are for industries we desperately need workers. Industries perhaps like... Construction!
@@astewartau utterly ridiculous. Go to any open house in the major cities and play spot the Aussie. Real estate agents have interpreters on hand. Try working your brain...
Tell me you didn’t watch the video without telling me you didn’t watch the video- nobody has to deal with your lack of actual comprehension .
@@jetnavigator you know that auctions are on youtube right to disprove you in 5 seconds?
@@jetnavigator We are all australian
They should increase migration. x100. For the lols.
Excellent video, Pingers. It's enraging seeing this argument trotted out to cover for successive governments having failed to tackle the housing problem
Migration is at record levels. So what if you average it over 4 years? It's still the highest number its ever been! Meanwhile there's less houses because hardcore enviro nuts have pushed the "carbon neutral" compliant material prices through the roof.
Housing started becoming generally unaffordable in the mid 2000s which coincides almost perfectly with the time that John Howard hiked immigration levels and the student visa ponzi scheme was introduced. Average home prices increased from roughly four times the average income in 2001 to roughly 10 times the average income today. I can guarantee you home prices did not increase at the same rate over the preceding 20 years. Squatting in a few vacant houses as your edgy statement against capitalism is a piss in the ocean.
no i the mid 80s lefty when bob hawke grew government bigger ? when did business & home ownership shrink under him
home cost 33% more to build under labor not liberals
@@coopsnz1Deregulation and privatisation under Keating brought 'the recession we had to have' since he was a capitalistic vampire. Howard and Costello reaped the benefits of this restructure of our economy but only after the pain of transition. It was Costello and Howard that started this hyper outsourcing of government policy and regulations that has brought us to this point.
Exactly ilikevines, Alan Kohler has detailled the arguments in his essay for The Guardian. I'd listen to Alan, Saul Eslake, Leith Van Onselen and Greg Jericho before I'd listen to Pingers on the immigration issue. There is more nuance to the POPULATION argument then branding people dumb and stupid after cherry picking stats
Thank you for being the voice of reason.
Well fkn said.
big government the problem they all factor to higher house prices 125 taxes plus in australia