This is a very common and a very false dichotomy. Under proper capitalism (not today's neoliberalism) the rich get richer and the poor also get richer (and faster). The problem is that due to various bad urban planning and regulation, the city created 2 classes of citizens on an unfair market.
@@Xeverous "the poor get richer"? So everyone just gets richer? This doesn't make any sense: If everyone is getting richer and nobody gets poorer, then the value of our currency would equally fall. After all money, gold and other valueables are only worth anything because there is a limited amount available. Yes we are living in an inflated (and still inflating) economy but there for sure is not infinite money out there. But considering inflation and the move to non-tangible currencies there is an argument that the rate poor people get poorer is slowing down. On the other hand the rate rich people get richer is also increasining in my opinion though ...
@@AlsandoGames "If everyone is getting richer and nobody gets poorer, then the value of our currency would equally fall." - this is bad reasoning. The value of the currency is a separate measure, independent of the state of people's wellbeing and overall wealth. And today even poor people have things that were unimaginable few decades ago. The rich get rich very fast because of current inflation. The rich hold mostly assets, the poor hold mostly money. If money inflates, the rich stay at their level as assets increase in price. For the poor - the savings shrink compared to the economy overall.
@Xeverous Well I guess what my original statement was meant to say ist that the gap between the rich and poor is widening. The bigger the bread is the rich are eating the more crumbs will fall for the poorto eat I guess. Sure in the end the poor get more bread crumbs, yes, but the more bread there is, the less a single piece is worth. In short inflation! And yes currently it is still working because everyone is playing along and invests in tangible assets. This in return creates a cycle where spending money is highly incentived. In short term this does improve the overall living conditions but at some point, when there are none or barely any tangible assets left and they are essential things like homes, food, water, etc, there will come a tipping point where the price of those skyrockets and poor people will have to spend more money than they can earn to acquire them. Then they will fall deep and hard.
@@AlsandoGames The biggest problem we have today is that we don't do real capitalism. The rich abuse the corrupt system to bend the game in their favor (which is a rational thing to do if corruption gives you more than investment into better product) and the poor remain mostly uneducated how economy works. We have hordes of people wanting to raise the minimum wage, even though its pure discrimination of free trade and never worked in the past; even though it is the rich companies that won't suffer but tons of low-skill people will be basically banned from legal work.
I definitely agree with most of the points in your video, but the weekly Opal cap does at least mean someone commuting by public trans 5/day week isn't actually spending $25 every day they go.
Also, one bit of feedback: at 7:50 when you talk about deaths from heat stress, it comes across sounding almost like hyperbole. Inserting a graphic with a snippet from a newspaper or graph showing how terribly real it is would help hammer that point home. I wouldn't change the way you say it, your delivery is :chefs-kiss:
Sydney has a public transport cap of $50 per week - no matter how many busses, trains, or ferries you take. Nobody out west drives to work - it takes longer and as you mention is unnecessarily expensive (not to mention you won't find anywhere to park anyway). $50 a week is peanuts compared to how much they are saving on our ludicrously priced housing. The very vast majority of people in Sydney are using public transport to get around, in the west where train spots might be further apart, there is park and ride. In terms of electricity you have it backwards. We have a self-feeding doom loop of rising energy distribution costs BECAUSE of solar, because many people in the west - having houses with roofs, put solar panels on them, disconnect from the grid (or feed into the grid, which is also problematic because as it turns out, nothing was ever designed with this in mind) - both of which make it more expensive for everyone else, which incentivises more people to get more solar and disconnect, and so on and so forth.
I agree with most of what you said. But Jordan Springs to the CBD is $11.11 in tolls, the drive used to take 1hr 30 mins, it now takes 50mins. That new tunnel has been great for us out west. Just the rich sods in Rozelle complained, because it diverted some of our traffic to their area.
Yeah I haven't heard of anyone spending $400 a week on transport. It wouldn't make sense, you could just rent a place closer to the CBD - assuming that's where you work, and save money. Also your weekly public transport cost is capped at $50. Also, the CBD is not where most people work. It's actually a bit of a ghost town these days. What Sydney does a good job of is de-centralising its business districts. You will find centralised hubs spread throughout the city, not just Parramatta.
The video creator needs to do more research. I live in Dolls Point, Botany Bay, the area below latte line. Most of the houses and people here are part of the wealthiest in Sydney.
@@xpusostomoso too the tolls you’d risk parking fines or even parking in parking areas, that’s an arm and a leg. That shouldn’t even be a concept thought of.
Many years ago there was a similar "line" in an article in The Sydney Morning Herald but it used the shape of a half moon which was somewhat more accurate. The Latte Line excludes all of The Sutherland Shire (The Shire) with some expensive real estate. It is also serviced by an excellent train service. A former PM lives there.
This video exaggerates the gap & makes Western Sydney to be some kind of hellhole, when it isn’t. The travel times provided suggesting it takes over 2 hours each way to get to work, is not the norm. There are frequent trains from major centres in western Sydney providing direct access to the CBD with far shorter journey times than that - eg Blacktown to Central is 37 minutes in peak hour. Also there are lots of jobs in western Sydney & not just Parramatta. Most of Sydney’s industry is located in its western suburbs. There are university campuses & some of the largest hospitals & shopping centre are there.
As a Sydney resident, I never heard of a "Latte line" or seen anyone draw a line there to make a point. Your transport prospects in Sydney depend on your proximity to a train station, of which there are places on both sides of that line both with and without a train station. As someone who lived on the supposed "bad" side of that line, but near a station, it wasn't that bad to get to a station. However sure, if you're not near a station, then it's difficult if you work in the CBD. Basically, most mega cities tend to suck as places to live.
I have lived on both sides of the line. Im now living on the poor side on a bigger property and i can tell you life was better on the rich side when i was living in a shoe box - we had easy access to everything then: city, beach, parks, better cafes and restaurants.
Thank you for this video. I've been living in Sydney my whole life and it's just getting worse and worse. I want to leave, but I can't afford to right now
@@pm2886 Moving is expensive and it seems like they're spending so much just to survive in Sydney that they don't have any savings that they can use to finance the move.
@@thecoolestfaisal I'm afraid that still makes no sense. With respect, it's this kind of behaviour which causes people problems in life. People back themselves into a corner because they want to keep living beyond their means til the last minute. That's crazy. It's not as though Sydney hasn't been shockingly expensive for years, so an exit plan should have been in place before now (drastic lifestyle adjustment to allow a savings plan, etc). Read the room, and plan accordingly.
"This 3 bedroom townhouse sold for over a million dollars, But it did come with a working bathroom and a front door" Yeh but with the build quality crisis going on in Sydney (and other Australian cities) the front door will likely just fall off after a few months and the bathroom will develop waterproofing defects within 6 months and become unusable, causing $100k worth of water damage to surrounding rooms and need to be completely replaced. Great video showing the reality of living in Sydney these days.
Not sure where you got a bus and two trains needed from Jordan Springs. You wouldn't drive to a bus stop you would drive to Penrith station which has a large commuter car park. Then it's 1 train to the cbd
If you can't walk, cycle or take a bus to a local train station, then your public transport has already failed. Our main train station in a city of over 200.000 people has no parking, only a taxi stand and ±20 spots for people to drop off and pick up passengers. The same is largely true for the other 3 train stations in the city. You need to build dense enough, walkable neighbourhoods for public transport to be functional and profitable to run. It also needs not to get stuck in traffic.
@@rogerwilco2 You can take a bus from Jordan Springs to the nearest train station, it just seems like the presenter was being misleading in assuming it's too hard to walk max 8 min to a bus stop, so added the car step, despite the fact even in Jordan Springs, there are perfectly walkable footpaths and parks. But if you do add the car step, like 007i1 said, you can skip the bus and drive to the station, making the journey faster and more convenient.
@rogerwilco2 the 783 bus runs directly from Jordan Springs to Penrith station. You wouldn't drive to a bus stop for it. And it's only one train from Penrith to the city.
Admittedly I didn't try that exact thing, because I didn't live near Penrith, but knowing the general area, I'll betcha that carpark is full by 7am or something, and/or is expensive. There's no chance there isn't a catch to that plan.
Sounds ALMOST like Hong Kong. People live in the New Territories for cheaper rents and properties. But they trade travel time for this. I live in a remote village in Hong Kong. It's so small you can't see it on a map unless you zoom in really close. Bus is $8HKD one way (20 minutes) which takes me to the train $19.50HKD into HK island which is also 20 minutes. At least transport is affordable.
Yes, if you've been there a while, it really grates on you. I can remember it darkening my whole mind towards the end. Now when I go there for a couple of days I enjoy it, and it seems nice, but if you have to live in it and most importantly, commute in it, it sucks.
I married into property east of the latte line (took a mortgage to build an apartment on top of the in-laws house). If I hadn't there's no way I'd live in Sydney, it's crazy
Even if I found myself with a nice house, bought and paid for, why would you not sell it, buy a nicer house somewhere else for a 10th of the price, and live off the rest.
Good video, I would like to point out that the tolls are avoidable, though Sydney's traffic makes it frustratingly longer without the tolls (probably 30 min more in your Quakers Hill example), though there are also public transport options available potentially
Crazy city. 6 years ago the best job I could get was in Sydney, (the middle of the city). I had $600, a van and a girlfriend. We got gym memberships for showers and parked in alleyways, at night. Saved $18k in 9 months. If i rented a studio, I would have broke even. 😅
Kudos to you for lateral thinking. I always thought, if I was to have my time over again and had to start from scratch, I'd do something like that to save money.
if so many people live in place 1 and want to go to place 2 mabey make an tram/train/bus connection? cheap public transport or have the gouverment make rules that forbid only single family house only and have 3/8 etc buildings with homes
The trouble is, place 1 is the CBD, and place 2 is EVERYWHERE in one of the largest (geographically) cities on the planet. There are indeed trains, but designing and building a train network that covers that area for a reasonable cost is prohibitive. This is not Singapore where everyone is packed into 40 storey buildings, they are in low density houses.
The difference in home cooling requirements is *stark*. The old house my mum grew up in, just above the latte line but well within the red rooster line, was brick and well shaded, and with curtains and fans, the house was comfortable enough pretty much year round. Where my dad grew up, in a house (and suburb) built in the 70s, despite having more greenery than most, you couldn’t live without air conditioning. The place my mum grew up is one of only a couple remaining old houses on the block, the rest developed into fancy concrete blocks with significant open areas of glazing and the houses taking up as much of the block as allowed by code (and more). They are incredibly expensive and there is absolutely no way any of us could afford to buy there now, and the houses will still be far more expensive to run
A lot of factors at work, direction of windows, size of windows. Really old houses were double brick small windows. Probably easy to cool, but hard to heat too.
All the pictures look so much like the mistakes that North America makes in urban planning. You need better urban planning and zoning laws. You need political reform away from outdated British concepts to where voters have more influence.
The trouble is, the Fed government determines immigration, and local governments determine zoning, and there is absolutely no master plan to coordinate the two.
My hubby’s from OZ, The Hawkesbury Dist. His dad built a 1300sq ft. 3 bed/1 bath breeze block house, with a tiny front yard and no backyard, in the early 1960’s. In the 90’s they added a small Granny flat. His mom sold the house in 2019 for $400-500 thousand AUD. My dad sold our 3 bed/2 bath 2000sq ft, brick house with attached 2 car garage and a 1/3 acre of land in a larger US city that was built at the same time for $120 thousand USD. I love Australia but we can’t afford to live there and we make 6 figures. I’m use to high prices in major US cities and in London but Australia is on a whole other level. Unlike most countries they can’t continue to expand due to the lack of water. The easiest fix is to encourage developers to build family apartments. Our friends who have apartments live alone or with a partner. Those with families feel they have to live in a house. But even apartments are ridiculously priced. We’re saving now to go back to visit in 2025 😬
It's not really true that we couldn't build more cities, we just haven't. I don't know why. The US has a long history of having populated every nook and cranny, whereas Australia has clustered around the old colonies. It would be interesting to see more analysis on how that happened.
Doesnt help that government post ww2 decided Australian housing was something to make an investment rsther then a responsibility to the people, which helped for a few years in the short term, but now we have this.
No, the government didn't decide that, the government decided to protect NIMBYs, aka not build big apartment blocks in the city in favor of suburban sprawl. I could say this is the end game, but this is actually the mid game. The end game is either they capitulate and demoilish all the old homes, or they stop immigration. You guess which, because the only other option is tent city in hyde park.
A detail which is omited in the video but very significant - overregulation of construction. Why are these suburbs full of single-family homes? That's grossly inefficient. Any sane developer would build multistory apartment houses, which would reduce the price per home and fit much more people in much smaller area. I guess Sydney has the same stupid zoning laws as various places in USA.
Us Aussies do love our urban sprawl. Most new single-home developments are so tightly packed they may as well be single-storey apartment complexes (though at least they don't have to deal with a body-corporate, which is definitely one dubious benefit).
Yes, correct, this mess is all about zoning laws. Now sure, if I lived in a nice suburb I wouldn't want the developers coming in, but if you're going to have big immigration, you have to pick your poison, and what they built is a mess.
I live in Melbourne, Carrum Downs to be precise. A lot of this feels familiar here, but maybe not as bad? Would love a video looking at similar issues in Melbourne, or anyone to comment on how Melbourne compares? I know geographically we are not as constrained as Sydney (with the Blue Mountains on one side and the coast on the other), however this just means our urban sprawl may never end. We're also not as hot.
the geography of Melbourne is different so the gap between rich and poor (and even ethnicities, which the video ignores) is not as stark. The Sydney CBD is towards the Eastern end of Sydney, so the suburbs between the CBD and the coast are most convenient and desirable while the Western suburbs extend very far and become less and less desirable as you get farther away. Melbourne's CBD is more in the middle and the city radiates out in almost every direction (except directly South of course). The most expensive areas still tend to be in the inner East and South East, but it's not like the Northern or Western suburbs are very remote and inconvenient; in fact, Footscray and the surrounding areas are growing rapidly and benefit from their convenient location and relative affordability. And inner North suburbs like Brunswick, Fitzroy and Abbotsford have also long been desirable and hip, almost comparable to South Yarra and Prahan. And Melbourne has also built more housing than Sydney in recent years, so property prices are significantly lower and more affordable.
If you can service a mortgage and build equity in Jordan Springs, then you're not poor. If you want to improve your life, sell the house, and rent somewhere fun and convenient. If the crash comes, you won't be stuck servicing a mortgage double the reduced value of your house. If it doesn't, you've had a fun life. Bitching about the reason why your property was cheaper than average is silly. If you don't like those reasons, don't buy there! Or you could leave Sydney, which, lets face it, thousands have done. Its why Sydney no longer has the highest population in Australia.
sydney is shit. Really do not see the appeal. We have a problem though, all we build is sprawl, endless suburbias of nothiness, 20 minutes drive to a bus stop, no dense self sustaining communities. Hate sydney, I really do.
There's so much misinformation in this video and I'm only at the 3:24 mark so far. The maximum daily train/bus fair is $18.70 per day and $50 per week, far less than your $25 one way estimate. As someone else pointed out that $4.7M was on a huge block that would likely be subdivided. Over priced yes, but no need to exaggerate. The 3 bedroom house in the West you showed us actually a 4 bedroom, it says so on the listing you showed. The point you're trying to make is valid but making up sensationalist facts only hurts your message
You obviously do not know what rent is in Sydney then... Hell the place i live in on the southern outskirts is $500 a week for what's essentially a 2 bedroom flat
The great thing is that no one is forced to live in Sydney! Melbourne is considerably cheaper, for example. And regional cities with universities are cheaper again. Just like many things in life, if you want the 'gold standard', you have to pay for it.
Ironically ppl chosing to make those long commutes are the ones shooting themselves in the foot. Remove them and the area loses a lot of its shine making regions like paramata more favorable. The thing is that it’s a problem in most countries. Eu countries are the worst offenders. You don’t need to look further than the next city by population in every country to notice the issue.
HK has a highly unique property system that's totally different than Sydney and is not a good comparison. A better comparison would be a city like Houston Texas, which has a comparable population and similar suburban sprawl but FAR more affordable housing (median house prices only around USD 350K, versus USD 1 million in Sydney). Houston even has slightly higher average salaries and lower taxes (Texas has no state tax so you only pay US federal tax, which maxes out at 37%, versus the max rate of 45% in Australia). BTW, in HK salary tax is just 15% for all but the highest earners (who pay 16%); HK also has zero tax on capital gains and no GST. Even global financial capitals like London and NYC are more affordable than Sydney. Meanwhile, Melbourne has a similar population as Sydney and is comparable in economy and wages, yet property prices are only around 70% of Sydney. So there's something seriously wrong with Sydney
Australia has very few actual refugess because there is an ocean to cover, and it is policed rigourously. However there is a small middle east community of various countries. One of my friends was a Lebanese Catholic.
We don't see many refugees here considering we are so far away from most of the world. The Vietnam war was probably the last time we saw a lot of refugees arrive. We do meanwhile have a very high rate of immigration with I believe around 60-70% of all Australians being born overseas or having a parent born overseas. We have 200k immigrants come in every year but can only build enough houses in the major cities for say 150k
Australia has to stop importing taxi drivers and burger flippers, my friend got a sweet supervisor job in Western Sydney making big dollars in plumbing
You often keep saying about the map in relation to "the line", while the line is not visible at the moment, you keep randomly showing or not showing it... then you zoom in and only then place the line... sometimes you zoom "so fast" that even going frame by frame doesn't really tell you which side of The Line you are talking about, as the view almost teleports... you keep drawing routes and saying how much effort it takes to get from one point to another, but doesn't even care to tell us or show the distance... I'm like 1/4th into the video and I already hate watching it! 🤣🤣 Seriously, this is an achievement in itself, to make so bad and and quite good video at the same time! 🤣
Kolping poor people out = keeping drug addicts, vandalists and other antisocial _________ out. I happily pay higher prices to be in a nice and safe environment without getting harassed by drunk homeless men.
You should've proposed solutions and what's being done. Like better urban planning and transport oriented development. This is just a negative video that serves no purpose.
I am not a qualified city planner so my suggestions wouldn't be worth a lot compared to what has already been proposed. Some of the solutions are very simple, better building standards, more medium density housing closer to transportation, more of a push to let people work from home if they can. Simple stuff. Most people don't realise just how bad these problems are when combined though so there isn't much of a push to consider these solutions. If people don't see the problem why would they care about the solution? The goal of a video like this is to show the problems in a simple concise package so that maybe more people are inclined to consider the solutions which are already well established.
@Micro-Econ-YT See, that would have been enough. The problems really do have simple solutions so wouldn't need to certify your claims. Plus, it's very easy to find reputable articles proving that the solutions you listed do work. Unfortunately, a lot of people can get stuck in this negative spiral of thinking everything around them is bad and they don't know what the solutions are. I'd suggest including ideas to resolve issues no matter how small so the videos feel less negative and to hopefully help even just a few people get into the right mindset.
The irony of you complaining about negativity whilst posting a purely negative comment is textbook 🙌. Glad to see you managed to make a point about outcomes in the discussion with the creator. Double irony tho. But to answer your point about "serving no purpose"....I think you answered that yourself: as long as its in good faith, describing reality accurately is a good thing. This wasn't negative. Just accurate. The situation is negative for the humans in it and the rest of us because Australia is one of the world's worst polluters because of stupidity like this. Its an atrocity. As are most places. The answer tho? Not as popular as you imagine: lots of long term individual voting and lobbying responsibilities that most TH-cam viewers dgaf about - also worth doing but that's a different video. How's your channel handling complex issues like this BTW?
@@nonsequitor I like how you're talking about irony whilst using the "Oh you're complaining but what are you doing about it?" tactic. Very productive of you. Mind toning down the passive aggressiveness or do you just not like criticism or something? Get pissed off when there's the slightest complaint? And I already mentioned in my comment that the reason I want solutions provided is because people don't know what the solutions can be. You're just adding to the ignorance by claiming people don't care
@@nonsequitor Other than the comment I just wrote. What even is your point right now dude? A conversation that ended with advocating for more solutions and you're here complaining about it? Do you not see your negative irony? Do you like going around youtube comments trying to piss off people and saying no one cares?
That’s it ? That’s your takeaway, that’s what you think was argued here ? It was just an example of the inequalities at play. The actual argument is about the unsustainability of suburban sprawl and how it particularly affects the working class
@@dieucondorimperial2509 you think that was a valid argument? Is it really part of the problem of "suburban sprawl"? I am not criticizing the whole point of the video. That really is just a bad point.
@@madsrishoj You should see how they set up speed cameras here though. A road will be 80kmh then dip to 60kmh without proper signage for less than a km then jump back up to 80, and in that one little gap is where all the cameras are hidden, snapping everyone who wasn't even aware. Why spend money on putting up proper signage though if putting speed cameras there makes money instead. Eventually people clue on, so they return the speed limit to normal then put a dip and cameras somewhere else, somewhere that is almost always in the poorer areas. There's big money in fleecing the poor this way and the brilliant part of it is is that it illicits very little sympathy because people just see "speeding ticket" and think "well don't speed" without realising how easily it could happen to them.
@@StrangerDanger491 I understand the argument if it’s predatory in nature. I didn’t know that. Speeding cameras should be hidden though. It wouldn’t really make sense to put any up if it was obvious.
My wife and I lived in Sydney for 6 years in the late 90s. We skimped and saved and bought a house east of the latte line. 1 bus stop before the Harbour Bridge on the north shore. That's our retirement fund as we've lived in London for over 20 years. We bought well here too. I have no sympathy for the bogans and we both came from shit but saved, studied and worked hard. My cousins all live west of the line and are still bogans. You get what you earn and no sympathy for not striving.
Lol our mate here trying to be high and mighty with his late 90s savings that bought him a house back then. Have you ever image how your workload and savings scale in the current economy? Have a deep think about it rather than spewing non-sense on the internet. My sympathies for your children and theirs down the line because of people like you.
Save 90% of after tax income, paying ~$0 rent (provided by job, family), starting with $0: . couple average income; after 4 years buy home with cash (no mortgage). . couple minimum wages; after 15 months buy home with 20% equity (80% mortgage). Requires clear minded purpose.
"Retirement fund"... Pretty static... As an investment, the money does nothing for the economy or the country. Pure "speculation". Congratulations. If you're planning to live there when retired, again, congratulations. So you plan to "occupy" a residence close to "work locations" pushing some other couple further away from their source of income. "There will be poor always/Pathetically struggling/Look at the good things you've got!"-- JCSS
4 million dollars is a hell of a lot of frugality. A person on a 6 figure salary can't even afford a million dollar mortgage over 30 years and you need multi millions for a house north of the bridge.
![[LIVE] BABYMONSTER(베이비몬스터) - DRIP | 두시탈출 컬투쇼](http://i.ytimg.com/vi/UG05pxLGwzc/mqdefault.jpg)
![fellow fellow - พรุ่งนี้ไม่มีใครรู้ feat. INK WARUNTORN [OFFICIAL MV]](http://i.ytimg.com/vi/QP6JyjYx_W0/mqdefault.jpg)
Speaking as an American; it's nice to know we're not the only ones who screw these things up
We got way more lame to use plus water. So our situation is actually worse due to that feature
it's like someone glued Lower Manhattan and Houston together, staggering
A great example how, even in such minute details, the rich get richer and the poor get poorer...
This is a very common and a very false dichotomy. Under proper capitalism (not today's neoliberalism) the rich get richer and the poor also get richer (and faster). The problem is that due to various bad urban planning and regulation, the city created 2 classes of citizens on an unfair market.
@@Xeverous "the poor get richer"? So everyone just gets richer?
This doesn't make any sense: If everyone is getting richer and nobody gets poorer, then the value of our currency would equally fall. After all money, gold and other valueables are only worth anything because there is a limited amount available. Yes we are living in an inflated (and still inflating) economy but there for sure is not infinite money out there.
But considering inflation and the move to non-tangible currencies there is an argument that the rate poor people get poorer is slowing down. On the other hand the rate rich people get richer is also increasining in my opinion though ...
@@AlsandoGames "If everyone is getting richer and nobody gets poorer, then the value of our currency would equally fall." - this is bad reasoning. The value of the currency is a separate measure, independent of the state of people's wellbeing and overall wealth. And today even poor people have things that were unimaginable few decades ago.
The rich get rich very fast because of current inflation. The rich hold mostly assets, the poor hold mostly money. If money inflates, the rich stay at their level as assets increase in price. For the poor - the savings shrink compared to the economy overall.
@Xeverous Well I guess what my original statement was meant to say ist that the gap between the rich and poor is widening. The bigger the bread is the rich are eating the more crumbs will fall for the poorto eat I guess. Sure in the end the poor get more bread crumbs, yes, but the more bread there is, the less a single piece is worth. In short inflation! And yes currently it is still working because everyone is playing along and invests in tangible assets. This in return creates a cycle where spending money is highly incentived. In short term this does improve the overall living conditions but at some point, when there are none or barely any tangible assets left and they are essential things like homes, food, water, etc, there will come a tipping point where the price of those skyrockets and poor people will have to spend more money than they can earn to acquire them. Then they will fall deep and hard.
@@AlsandoGames The biggest problem we have today is that we don't do real capitalism. The rich abuse the corrupt system to bend the game in their favor (which is a rational thing to do if corruption gives you more than investment into better product) and the poor remain mostly uneducated how economy works. We have hordes of people wanting to raise the minimum wage, even though its pure discrimination of free trade and never worked in the past; even though it is the rich companies that won't suffer but tons of low-skill people will be basically banned from legal work.
I definitely agree with most of the points in your video, but the weekly Opal cap does at least mean someone commuting by public trans 5/day week isn't actually spending $25 every day they go.
Also, one bit of feedback: at 7:50 when you talk about deaths from heat stress, it comes across sounding almost like hyperbole. Inserting a graphic with a snippet from a newspaper or graph showing how terribly real it is would help hammer that point home. I wouldn't change the way you say it, your delivery is :chefs-kiss:
Sydney has a public transport cap of $50 per week - no matter how many busses, trains, or ferries you take. Nobody out west drives to work - it takes longer and as you mention is unnecessarily expensive (not to mention you won't find anywhere to park anyway). $50 a week is peanuts compared to how much they are saving on our ludicrously priced housing. The very vast majority of people in Sydney are using public transport to get around, in the west where train spots might be further apart, there is park and ride.
In terms of electricity you have it backwards. We have a self-feeding doom loop of rising energy distribution costs BECAUSE of solar, because many people in the west - having houses with roofs, put solar panels on them, disconnect from the grid (or feed into the grid, which is also problematic because as it turns out, nothing was ever designed with this in mind) - both of which make it more expensive for everyone else, which incentivises more people to get more solar and disconnect, and so on and so forth.
Being poor is expensive. No surprises there...
The bank of england is telling australian politicians how to run the country.
I agree with most of what you said. But Jordan Springs to the CBD is $11.11 in tolls, the drive used to take 1hr 30 mins, it now takes 50mins.
That new tunnel has been great for us out west. Just the rich sods in Rozelle complained, because it diverted some of our traffic to their area.
"Safe Government" - Didn't someone try to assassinate FriendlyJordies for speaking out against the Aussie/NSW government?
Loving your vids!
I mean, the only two types of governments are "safe" ones like that, or ones in civil wars
I think it was more the gambling industry that was responsible for that
Was likely bikies.
I thought it was bikies
It's still one of the world's best cities!
1:30 The 4.7 million dollar town house comes with 550m^2 land. It is misleading to present it like the current structure is what sets the price.
in cbd in roseville can buy a nice big home for that on 1000sqm block 8 km from Cbd
@@coopsnz1 To be fair $4.7 is a fortune.
@@landlordize that what luxury mansions sell outer west now on 4000sqm block ! median house price dump on 500sqm block $800000
Yeah I haven't heard of anyone spending $400 a week on transport. It wouldn't make sense, you could just rent a place closer to the CBD - assuming that's where you work, and save money. Also your weekly public transport cost is capped at $50. Also, the CBD is not where most people work. It's actually a bit of a ghost town these days. What Sydney does a good job of is de-centralising its business districts. You will find centralised hubs spread throughout the city, not just Parramatta.
Yeah, nobody spends that. Maybe you would in theory, but driving to the CBD is a total no go anyway.
The video creator needs to do more research. I live in Dolls Point, Botany Bay, the area below latte line. Most of the houses and people here are part of the wealthiest in Sydney.
@@xpusostomoso too the tolls you’d risk parking fines or even parking in parking areas, that’s an arm and a leg. That shouldn’t even be a concept thought of.
Many years ago there was a similar "line" in an article in The Sydney Morning Herald but it used the shape of a half moon which was somewhat more accurate. The Latte Line excludes all of The Sutherland Shire (The Shire) with some expensive real estate. It is also serviced by an excellent train service. A former PM lives there.
weekly Opal cap does at least mean someone commuting by public trans 5/day week isn't actually spending $25 every day they go.
This video exaggerates the gap & makes Western Sydney to be some kind of hellhole, when it isn’t.
The travel times provided suggesting it takes over 2 hours each way to get to work, is not the norm. There are frequent trains from major centres in western Sydney providing direct access to the CBD with far shorter journey times than that - eg Blacktown to Central is 37 minutes in peak hour.
Also there are lots of jobs in western Sydney & not just Parramatta. Most of Sydney’s industry is located in its western suburbs. There are university campuses & some of the largest hospitals & shopping centre are there.
Except that Blacktown is a hell hole... ok, maybe not a hell hole, but not somewhere anyone aspires to live.
I feel like in India if you're in Western Sydney.
As a Sydney resident, I never heard of a "Latte line" or seen anyone draw a line there to make a point. Your transport prospects in Sydney depend on your proximity to a train station, of which there are places on both sides of that line both with and without a train station. As someone who lived on the supposed "bad" side of that line, but near a station, it wasn't that bad to get to a station. However sure, if you're not near a station, then it's difficult if you work in the CBD. Basically, most mega cities tend to suck as places to live.
This latte line is full of sh!t. If anyone is making lattes in the city they live in the city or east.
Great video. Amazing how good this channel is.
Wow, thank you!
Ngl with a city thats main international association is something as bougie as Opera I'm not even surprised.
A very not-aesthetically-pleasing modern architecture Opera.
I have lived on both sides of the line. Im now living on the poor side on a bigger property and i can tell you life was better on the rich side when i was living in a shoe box - we had easy access to everything then: city, beach, parks, better cafes and restaurants.
Thank you for this video. I've been living in Sydney my whole life and it's just getting worse and worse. I want to leave, but I can't afford to right now
A lot of those issues would be solved with metro/train lines, but then people need to demand it and vote for it.
How can you not afford to leave, if you can't afford to stay? Just curious, since that sounds contradictory.
@@pm2886 Moving is expensive and it seems like they're spending so much just to survive in Sydney that they don't have any savings that they can use to finance the move.
@@thecoolestfaisal I'm afraid that still makes no sense. With respect, it's this kind of behaviour which causes people problems in life. People back themselves into a corner because they want to keep living beyond their means til the last minute. That's crazy.
It's not as though Sydney hasn't been shockingly expensive for years, so an exit plan should have been in place before now (drastic lifestyle adjustment to allow a savings plan, etc). Read the room, and plan accordingly.
Leave dude! just do it, there's jobs in the country and the people are so much nicer.
"This 3 bedroom townhouse sold for over a million dollars, But it did come with a working bathroom and a front door"
Yeh but with the build quality crisis going on in Sydney (and other Australian cities) the front door will likely just fall off after a few months and the bathroom will develop waterproofing defects within 6 months and become unusable, causing $100k worth of water damage to surrounding rooms and need to be completely replaced.
Great video showing the reality of living in Sydney these days.
err... I don't think so... quality issues tend to be in apartment blocks.
Not sure where you got a bus and two trains needed from Jordan Springs. You wouldn't drive to a bus stop you would drive to Penrith station which has a large commuter car park. Then it's 1 train to the cbd
If you can't walk, cycle or take a bus to a local train station, then your public transport has already failed.
Our main train station in a city of over 200.000 people has no parking, only a taxi stand and ±20 spots for people to drop off and pick up passengers.
The same is largely true for the other 3 train stations in the city.
You need to build dense enough, walkable neighbourhoods for public transport to be functional and profitable to run. It also needs not to get stuck in traffic.
@@rogerwilco2 You can take a bus from Jordan Springs to the nearest train station, it just seems like the presenter was being misleading in assuming it's too hard to walk max 8 min to a bus stop, so added the car step, despite the fact even in Jordan Springs, there are perfectly walkable footpaths and parks. But if you do add the car step, like 007i1 said, you can skip the bus and drive to the station, making the journey faster and more convenient.
@rogerwilco2 the 783 bus runs directly from Jordan Springs to Penrith station. You wouldn't drive to a bus stop for it. And it's only one train from Penrith to the city.
Admittedly I didn't try that exact thing, because I didn't live near Penrith, but knowing the general area, I'll betcha that carpark is full by 7am or something, and/or is expensive. There's no chance there isn't a catch to that plan.
the tolls and parking cost also insane in Shitney, from Campbeltown to CBD. would cost 20+ for the tolls alone, and add 20+ dollar parking the City.
Great videos but they tend to end rather abruptly and I always think I have lost my connection 😂
The planning in Parramatta has been terrible. Its hardly a second CBD.
Is the Parramatta Light Rail up & running yet?
I generally agree, but...
"Dense suburban housing" xDxDxDxD
Brilliant summary of what’s become of my home town.
Sounds ALMOST like Hong Kong. People live in the New Territories for cheaper rents and properties. But they trade travel time for this. I live in a remote village in Hong Kong. It's so small you can't see it on a map unless you zoom in really close. Bus is $8HKD one way (20 minutes) which takes me to the train $19.50HKD into HK island which is also 20 minutes. At least transport is affordable.
I suspect even the new territories are much denser than Sydney, but then what do I know.
Thanks for reminding me why I left that absolute dump after 28 years! Uck what a dump! You pay more for your enslavement!
Yes, if you've been there a while, it really grates on you. I can remember it darkening my whole mind towards the end. Now when I go there for a couple of days I enjoy it, and it seems nice, but if you have to live in it and most importantly, commute in it, it sucks.
I married into property east of the latte line (took a mortgage to build an apartment on top of the in-laws house). If I hadn't there's no way I'd live in Sydney, it's crazy
Even if I found myself with a nice house, bought and paid for, why would you not sell it, buy a nicer house somewhere else for a 10th of the price, and live off the rest.
Shitney.
Sadney
Like all cities, it sucks to live on the outer. Sydney's pretty nice if you can manage to live in the CBD, or somewhere on the harbour.
Good video, I would like to point out that the tolls are avoidable, though Sydney's traffic makes it frustratingly longer without the tolls (probably 30 min more in your Quakers Hill example), though there are also public transport options available potentially
ha, quakers hill my old home
Crazy city.
6 years ago the best job I could get was in Sydney, (the middle of the city). I had $600, a van and a girlfriend. We got gym memberships for showers and parked in alleyways, at night. Saved $18k in 9 months. If i rented a studio, I would have broke even. 😅
Kudos to you for lateral thinking. I always thought, if I was to have my time over again and had to start from scratch, I'd do something like that to save money.
if so many people live in place 1 and want to go to place 2 mabey make an tram/train/bus connection? cheap public transport or have the gouverment make rules that forbid only single family house only and have 3/8 etc buildings with homes
The trouble is, place 1 is the CBD, and place 2 is EVERYWHERE in one of the largest (geographically) cities on the planet. There are indeed trains, but designing and building a train network that covers that area for a reasonable cost is prohibitive. This is not Singapore where everyone is packed into 40 storey buildings, they are in low density houses.
I think if you continue with this level of quality in your videos, you'll do well. Very interesting and well researched.
$1.3M for a home in marrickville that didnt even have a working bathroom or kitchen
The difference in home cooling requirements is *stark*. The old house my mum grew up in, just above the latte line but well within the red rooster line, was brick and well shaded, and with curtains and fans, the house was comfortable enough pretty much year round. Where my dad grew up, in a house (and suburb) built in the 70s, despite having more greenery than most, you couldn’t live without air conditioning. The place my mum grew up is one of only a couple remaining old houses on the block, the rest developed into fancy concrete blocks with significant open areas of glazing and the houses taking up as much of the block as allowed by code (and more). They are incredibly expensive and there is absolutely no way any of us could afford to buy there now, and the houses will still be far more expensive to run
A lot of factors at work, direction of windows, size of windows. Really old houses were double brick small windows. Probably easy to cool, but hard to heat too.
All the pictures look so much like the mistakes that North America makes in urban planning.
You need better urban planning and zoning laws. You need political reform away from outdated British concepts to where voters have more influence.
The trouble is, the Fed government determines immigration, and local governments determine zoning, and there is absolutely no master plan to coordinate the two.
gotta start forcing developpers to build parks and stuff i guess.
That ship has sailed, no land left.
My hubby’s from OZ, The Hawkesbury Dist. His dad built a 1300sq ft. 3 bed/1 bath breeze block house, with a tiny front yard and no backyard, in the early 1960’s. In the 90’s they added a small Granny flat. His mom sold the house in 2019 for $400-500 thousand AUD. My dad sold our 3 bed/2 bath 2000sq ft, brick house with attached 2 car garage and a 1/3 acre of land in a larger US city that was built at the same time for $120 thousand USD. I love Australia but we can’t afford to live there and we make 6 figures. I’m use to high prices in major US cities and in London but Australia is on a whole other level. Unlike most countries they can’t continue to expand due to the lack of water. The easiest fix is to encourage developers to build family apartments. Our friends who have apartments live alone or with a partner. Those with families feel they have to live in a house. But even apartments are ridiculously priced. We’re saving now to go back to visit in
2025 😬
It's not really true that we couldn't build more cities, we just haven't. I don't know why. The US has a long history of having populated every nook and cranny, whereas Australia has clustered around the old colonies. It would be interesting to see more analysis on how that happened.
无解，有富人区就有穷人区，无论哪个城市都有类似的情况，悉尼只不过有一条明显的区分线。
Dark solar panels raise the outside temperature. I'm not saying they are bad, but they bring their own problems.
I don't know if that's true. Dark things absorb more, but they also radiate more at night.
good start 🙂. Comment for the Google AI-Bots to push your channel.
Doesnt help that government post ww2 decided Australian housing was something to make an investment rsther then a responsibility to the people, which helped for a few years in the short term, but now we have this.
No, the government didn't decide that, the government decided to protect NIMBYs, aka not build big apartment blocks in the city in favor of suburban sprawl. I could say this is the end game, but this is actually the mid game. The end game is either they capitulate and demoilish all the old homes, or they stop immigration. You guess which, because the only other option is tent city in hyde park.
A detail which is omited in the video but very significant - overregulation of construction. Why are these suburbs full of single-family homes? That's grossly inefficient. Any sane developer would build multistory apartment houses, which would reduce the price per home and fit much more people in much smaller area. I guess Sydney has the same stupid zoning laws as various places in USA.
Us Aussies do love our urban sprawl.
Most new single-home developments are so tightly packed they may as well be single-storey apartment complexes (though at least they don't have to deal with a body-corporate, which is definitely one dubious benefit).
it cost alot to build apartments or houses because of government greed
Yes, correct, this mess is all about zoning laws. Now sure, if I lived in a nice suburb I wouldn't want the developers coming in, but if you're going to have big immigration, you have to pick your poison, and what they built is a mess.
This thumbnail style is a lot better than the previous one
You keep putting that poor line in the wrong place. How tf is sutherland shire in poor section
I live in Melbourne, Carrum Downs to be precise. A lot of this feels familiar here, but maybe not as bad? Would love a video looking at similar issues in Melbourne, or anyone to comment on how Melbourne compares? I know geographically we are not as constrained as Sydney (with the Blue Mountains on one side and the coast on the other), however this just means our urban sprawl may never end. We're also not as hot.
the geography of Melbourne is different so the gap between rich and poor (and even ethnicities, which the video ignores) is not as stark. The Sydney CBD is towards the Eastern end of Sydney, so the suburbs between the CBD and the coast are most convenient and desirable while the Western suburbs extend very far and become less and less desirable as you get farther away.
Melbourne's CBD is more in the middle and the city radiates out in almost every direction (except directly South of course). The most expensive areas still tend to be in the inner East and South East, but it's not like the Northern or Western suburbs are very remote and inconvenient; in fact, Footscray and the surrounding areas are growing rapidly and benefit from their convenient location and relative affordability. And inner North suburbs like Brunswick, Fitzroy and Abbotsford have also long been desirable and hip, almost comparable to South Yarra and Prahan. And Melbourne has also built more housing than Sydney in recent years, so property prices are significantly lower and more affordable.
3:25 $750 a day? A week? A month? A year?
Per week
obviously per week
there is so much going wrong in Australia. It's incredible.
So much going right, mainly
I think in few years time there will be a trump-like figure arising because of how powerless people feel
You go to Western Sydney and its another world. I feel like im in Afghanistan and India.
Cool video, this comment is for the algorithm.
Thanks for that!
If you can service a mortgage and build equity in Jordan Springs, then you're not poor. If you want to improve your life, sell the house, and rent somewhere fun and convenient. If the crash comes, you won't be stuck servicing a mortgage double the reduced value of your house. If it doesn't, you've had a fun life. Bitching about the reason why your property was cheaper than average is silly. If you don't like those reasons, don't buy there! Or you could leave Sydney, which, lets face it, thousands have done. Its why Sydney no longer has the highest population in Australia.
You're not wrong, but renting anywhere is also expensive with its own problems.
Clip at 8:10 is Toronto, Ontario, Canada Bay and Queen Street looking East sometime before 2017
but to do absolutely anything to try to help fix it would be 'cOmMuNiSm'
communism sucks we all be renting off the state own no land
Pump the algo!
sydney is shit. Really do not see the appeal. We have a problem though, all we build is sprawl, endless suburbias of nothiness, 20 minutes drive to a bus stop, no dense self sustaining communities. Hate sydney, I really do.
There's so much misinformation in this video and I'm only at the 3:24 mark so far. The maximum daily train/bus fair is $18.70 per day and $50 per week, far less than your $25 one way estimate.
As someone else pointed out that $4.7M was on a huge block that would likely be subdivided. Over priced yes, but no need to exaggerate. The 3 bedroom house in the West you showed us actually a 4 bedroom, it says so on the listing you showed.
The point you're trying to make is valid but making up sensationalist facts only hurts your message
Well that was a bit personal (my old primary school was shown in this video)
Sydney has some of the cheapest rent in the world though
you must be joking
You obviously do not know what rent is in Sydney then... Hell the place i live in on the southern outskirts is $500 a week for what's essentially a 2 bedroom flat
Not as bad as this video claims. Im in Neutral Bay and its pretty okay.
then you are on the right side of the Latte Line lol
Neutral Bay has always been known as a rich man's suburb.... how much for a small apartment there now, like a couple of million or what?
The great thing is that no one is forced to live in Sydney! Melbourne is considerably cheaper, for example. And regional cities with universities are cheaper again.
Just like many things in life, if you want the 'gold standard', you have to pay for it.
It been goin down dunny there for well over 20 yrs
interesting
"CBD" - so close.
Ironically ppl chosing to make those long commutes are the ones shooting themselves in the foot.
Remove them and the area loses a lot of its shine making regions like paramata more favorable.
The thing is that it’s a problem in most countries. Eu countries are the worst offenders. You don’t need to look further than the next city by population in every country to notice the issue.
Isnt hong kong worse?
Sydney is second only to Hong Kong
HK has a highly unique property system that's totally different than Sydney and is not a good comparison. A better comparison would be a city like Houston Texas, which has a comparable population and similar suburban sprawl but FAR more affordable housing (median house prices only around USD 350K, versus USD 1 million in Sydney).
Houston even has slightly higher average salaries and lower taxes (Texas has no state tax so you only pay US federal tax, which maxes out at 37%, versus the max rate of 45% in Australia). BTW, in HK salary tax is just 15% for all but the highest earners (who pay 16%); HK also has zero tax on capital gains and no GST.
Even global financial capitals like London and NYC are more affordable than Sydney. Meanwhile, Melbourne has a similar population as Sydney and is comparable in economy and wages, yet property prices are only around 70% of Sydney. So there's something seriously wrong with Sydney
My guess is it's better in HK because more apartment blocks
Does Australia have many "refugees" from the Middle East?
Australia has very few actual refugess because there is an ocean to cover, and it is policed rigourously. However there is a small middle east community of various countries. One of my friends was a Lebanese Catholic.
We don't see many refugees here considering we are so far away from most of the world. The Vietnam war was probably the last time we saw a lot of refugees arrive. We do meanwhile have a very high rate of immigration with I believe around 60-70% of all Australians being born overseas or having a parent born overseas. We have 200k immigrants come in every year but can only build enough houses in the major cities for say 150k
Treasure Island 🏝 😂
BS. this is another video by a person who has never been to Sydney.
fr
😂 you surely live on the other side
move to SEA
Do melbourneeee
the video has quite a lot of bullshit and exaggeration
terrible video, terrible take. lots of factual inaccuracies and serves no real purpose
Australia has to stop importing taxi drivers and burger flippers, my friend got a sweet supervisor job in Western Sydney making big dollars in plumbing
You often keep saying about the map in relation to "the line", while the line is not visible at the moment, you keep randomly showing or not showing it... then you zoom in and only then place the line... sometimes you zoom "so fast" that even going frame by frame doesn't really tell you which side of The Line you are talking about, as the view almost teleports... you keep drawing routes and saying how much effort it takes to get from one point to another, but doesn't even care to tell us or show the distance...
I'm like 1/4th into the video and I already hate watching it! 🤣🤣 Seriously, this is an achievement in itself, to make so bad and and quite good video at the same time! 🤣
generous tax laws? Bwaahahahahahaha.
Kolping poor people out = keeping drug addicts, vandalists and other antisocial _________ out.
I happily pay higher prices to be in a nice and safe environment without getting harassed by drunk homeless men.
south west sydney where majorty move to australia ! hard workers that are smart with money get to move to the nice side north or east in the longterm
My mate lived in warrick farm now lives in Normanhurst he lebanese ! took a few yrs to acheive this dream
To be fair, there is almost nowhere in Australia where you're likely to be harrassed by drug addicts.
If you can't survive in Sydney then move
I did already. Now I'm in the Philippines.
You should've proposed solutions and what's being done. Like better urban planning and transport oriented development. This is just a negative video that serves no purpose.
I am not a qualified city planner so my suggestions wouldn't be worth a lot compared to what has already been proposed. Some of the solutions are very simple, better building standards, more medium density housing closer to transportation, more of a push to let people work from home if they can. Simple stuff.
Most people don't realise just how bad these problems are when combined though so there isn't much of a push to consider these solutions. If people don't see the problem why would they care about the solution?
The goal of a video like this is to show the problems in a simple concise package so that maybe more people are inclined to consider the solutions which are already well established.
@Micro-Econ-YT See, that would have been enough. The problems really do have simple solutions so wouldn't need to certify your claims. Plus, it's very easy to find reputable articles proving that the solutions you listed do work. Unfortunately, a lot of people can get stuck in this negative spiral of thinking everything around them is bad and they don't know what the solutions are. I'd suggest including ideas to resolve issues no matter how small so the videos feel less negative and to hopefully help even just a few people get into the right mindset.
The irony of you complaining about negativity whilst posting a purely negative comment is textbook 🙌. Glad to see you managed to make a point about outcomes in the discussion with the creator. Double irony tho. But to answer your point about "serving no purpose"....I think you answered that yourself: as long as its in good faith, describing reality accurately is a good thing. This wasn't negative. Just accurate. The situation is negative for the humans in it and the rest of us because Australia is one of the world's worst polluters because of stupidity like this. Its an atrocity. As are most places. The answer tho? Not as popular as you imagine: lots of long term individual voting and lobbying responsibilities that most TH-cam viewers dgaf about - also worth doing but that's a different video. How's your channel handling complex issues like this BTW?
@@nonsequitor I like how you're talking about irony whilst using the "Oh you're complaining but what are you doing about it?" tactic. Very productive of you. Mind toning down the passive aggressiveness or do you just not like criticism or something? Get pissed off when there's the slightest complaint? And I already mentioned in my comment that the reason I want solutions provided is because people don't know what the solutions can be. You're just adding to the ignorance by claiming people don't care
@@nonsequitor Other than the comment I just wrote. What even is your point right now dude? A conversation that ended with advocating for more solutions and you're here complaining about it? Do you not see your negative irony? Do you like going around youtube comments trying to piss off people and saying no one cares?
Poor poor people who can’t afford living because of speeding tickets. What an argument
Yup. Crazy how many people are too smart to realise how reality works...
That’s it ? That’s your takeaway, that’s what you think was argued here ?
It was just an example of the inequalities at play.
The actual argument is about the unsustainability of suburban sprawl and how it particularly affects the working class
@@dieucondorimperial2509 you think that was a valid argument? Is it really part of the problem of "suburban sprawl"? I am not criticizing the whole point of the video. That really is just a bad point.
@@madsrishoj You should see how they set up speed cameras here though. A road will be 80kmh then dip to 60kmh without proper signage for less than a km then jump back up to 80, and in that one little gap is where all the cameras are hidden, snapping everyone who wasn't even aware. Why spend money on putting up proper signage though if putting speed cameras there makes money instead. Eventually people clue on, so they return the speed limit to normal then put a dip and cameras somewhere else, somewhere that is almost always in the poorer areas. There's big money in fleecing the poor this way and the brilliant part of it is is that it illicits very little sympathy because people just see "speeding ticket" and think "well don't speed" without realising how easily it could happen to them.
@@StrangerDanger491 I understand the argument if it’s predatory in nature. I didn’t know that.
Speeding cameras should be hidden though. It wouldn’t really make sense to put any up if it was obvious.
My wife and I lived in Sydney for 6 years in the late 90s. We skimped and saved and bought a house east of the latte line. 1 bus stop before the Harbour Bridge on the north shore. That's our retirement fund as we've lived in London for over 20 years. We bought well here too. I have no sympathy for the bogans and we both came from shit but saved, studied and worked hard. My cousins all live west of the line and are still bogans. You get what you earn and no sympathy for not striving.
Lol our mate here trying to be high and mighty with his late 90s savings that bought him a house back then. Have you ever image how your workload and savings scale in the current economy? Have a deep think about it rather than spewing non-sense on the internet. My sympathies for your children and theirs down the line because of people like you.
@@canconical9008 Very well said. Thank you.
Save 90% of after tax income, paying ~$0 rent (provided by job, family), starting with $0:
. couple average income; after 4 years buy home with cash (no mortgage).
. couple minimum wages; after 15 months buy home with 20% equity (80% mortgage).
Requires clear minded purpose.
lol london snob will fit in well in east suburbs looking down on westies😄
"Retirement fund"... Pretty static... As an investment, the money does nothing for the economy or the country. Pure "speculation". Congratulations.
If you're planning to live there when retired, again, congratulations.
So you plan to "occupy" a residence close to "work locations" pushing some other couple further away from their source of income.
"There will be poor always/Pathetically struggling/Look at the good things you've got!"-- JCSS
majority live in sydney west first and many move to nicer suburbs north of the bridge in a few yrs if you work hard and live frugal
4 million dollars is a hell of a lot of frugality. A person on a 6 figure salary can't even afford a million dollar mortgage over 30 years and you need multi millions for a house north of the bridge.