Exactly. There is really no realistic options for families in particular. We would live in a shed if it meant we could meaningfully build up savings (this is our life force we put into working) , but there is no option for that. You'll get kicked out and have your kids taken away or something. It's so disgusting... I hope peoples rage is building.
@@ljp1942 in the same time wages went up 13% house prices went up 400%. 2019 bought my 4 bed house 540k western Sydney now estimated up to 950k. Airds in western Sydney being rebranded newbrook houses selling at $1 million Appin approved 12300 homes to be built. Campbelltown 5 bed duplex sold for 1.1 mil
@dominicgalante7501 greens are the worst socialist party in history, like every time this happens housing will be affordable again in 15 years. 10 pay rises will bring the average wage upto 150k a year ect
Well said.. The government of Australia did this to anyone living in Australia why? Because the produces nothing!!! They don’t export 💩!! Taking in product from other countries dosnt make a country rich it’s how much you produce the GDP!!!!!! Sooooo let’s just make homes a way for the country “banks” to profit from.. Smart idea for a way to collapse the economy when someone is strapped paying a mortgage for 20-40yrs. Your future is done
It's a mix of both, and many other factors. Houses should never be used as a money making cash cow by means of outrageous capital gains and tax right offs. Also the handouts and free healthcare given to all who don't contribute to the system. It will all collapse.
I think the replies on this comment are totally incorrect and don't get to the class divide. The problem isn't "immigrants" or "scamming the system" it's the ruling class setting us up to fight each other so nobody realises that it the billionaires and politicians taking all the cake
I wouldn’t call them hard workers just come from a way of life that Aussies wouldn’t tolerate ie working together full stop much less living 10 families to 1 house pooling money and resources, hot bedding, sharing boots and clothes, stink from not buying deodorant and showers cost money living like that makes a shitty job ubering for $2 a hr doing a 20+hr day with a bigger plan in mind feasible a Aussie that came from fair go mate but fuck you your doing it on your own there’s enough for us all to do well and harbours a similar attitude thinking we are still the lucky country has no hope competing despite being among the hardest working intelligent inventive and ingenious people on earth… provide the incentive and you can predict the outcome the current incentive of being sold out buy sellout puppet politicians hopelessness breeds a predictable hopeless work culture
@@gregbourke1500If you don't recognise that the Chinese in particular but Asians in general have a work ethic that makes the hard working Italians look lazy, and shows Aussies for what they are (couch potatoes), then it's time to get real!!!!
More tenacity isn't the answer, this housing disaster is ordained by the federal government. Here's the culprits.... 1. The Australian Labor party 2. The Australian liberal party 3. Banks 4. Real estate agents
Your list doesn't include the Greens and their environmental demands. who have imposed so many draconian 'climate-change' building regulations on builders - ---that they can't build a shit-box without a stack of environmental approvals having to be met. All of these 'climate change - carbon footprint' measures have seen the cost of construction go sky-high.
Mate as a fellow Aussie I am fucking absolutely disgusted in our polical policies which have done this to Australians since 90's. They have sold our industry out sold homes outb and sold our future out. The pink elephant in the room has become so huge Elon may see it from Mars....
I'm one of the lucky few to own a house with virtually no mortgage - the catalyst? My father dying so I could inherit part of his estate. He didn't even have a high-paying job during his working life but as a Boomer who lived through Australia's golden era, he was able to afford a double-brick, three bedroom home on 800 sqm and access to high-returning superannuation schemes that netted him a good chunk of money. Australia is not the way it is by accident - it is by design.
You are very lucky in this regard to have this provided by your father. But if the whole system continues to rely on the bank of Mum and dad then the system will collapse. Why would anyone need to work for money anymore? The cost of everything will continue to over inflate into oblivion, it already is. Money won't be worth a scrap.
@astroanthobbies3801 oh okay 👍 that's OK then ,wish I bought houses in Sydney on the doll, better to be and ex qld copper, who bought child cares with his wife ,that's ok then
Same boat as you mate. No kids, no wife, good job, worked since 18. I’m never going to own a home. Looking down the barrel of having to pay $750k for a 1 bedroom unit…WHAT AN EXISTENCE.
I find these series a bit depresing. Sure prices have gone up since covid specially but Australia offers great value still. 750k for a 1 bedroom unit? You can get a 2bed walking distance to the beach (older building of course) for that money on the Gold Coast. And you can get a 3 bed fairly new townhouse in other suburbs 25min drive from the beach. Brisbane, 2 beds for 600-700k in west end. 1 beds for under 600k. Houses 3bed between 700k to 800k between Brisbane and Gold Coast. Do you think, truly asking, that it is worth moving to another City to overcome the high property prices? Get in, stop paying rent? Or the Australian dream is confined to Sydney or wherever you are from? You have no kids and no wife, you can pack and go. All the best, there are good things out there.
You will work until you die. This really is the key issue which will cause a mental health epidemic completely breaking the will of the middle class. A nation of people with no skin in the game.
Mate, forget the Australian house, I'd suggest build up some sort of PASSIVE income or online business and GTFO out of Australia, look at SE Asia or south America.
Im at the point where id much rather have 100k in savings and be renting somewhere comforatble than be $1 million+ in debt and living in a basic property thats nothing special
That depends on what path government takes us on in 2025. I believe we are going into hyper-inflationary debt crisis where government will multiply money printing inflating away debts and that will ultimately include private debt (your mortgage). Think back 1970s inflationary crisis. Even with high interest rates, your home price in AUD could go up 1000% every year while your outstanding mortgage number does not. If you feel like you can service your mortgage, carefully consider your options and risks.
@@Reznor440 you missed the middle of the video then. Unless you have millions in super your $100k will disappear pretty quickly paying rent in retirement. And one thing not discussed in the video, imagine being evicted for any reason when you are 70 years old. Moving sucks when you are young.
@@dustingoldsworthy7303 Yes you can, but in bum F nowhere, the problem with living in nowhere is that if you don't work from home you have trouble finding employment. There is a reason those properties are cheap.
Push back - write letters to the editor. I have surely had at least 20 letters published on the housing crisis over the last approximately two years (in The Cairns Post, Courier Mail, and The Australian - not each but in total). Be polite and professional while nevertheless writing in a powerful engaging manner.
One Nation who actually get and address the crime that is happening against Australians #1 Cost of living #2 Climate BS to waste and divert resources away from vital sectors, schools, hospitals, infrastructure... #3 Closing of all Australian Manufacturing, seriously were just going to mine and sell houses?...... Independent votes go to Liberal and Labor, first understand how the voting system works
Australia the lucky country - yeah right - not in my life time - I’ve worked out that I will need to work 10-12 hours a day until the day I die to put a meal on the table, pay for everyday living costs (no annual holidays, no luxuries, pay the rent & hopefully am able to afford a carton of beer once a month - the sooner I die the better off my family will be off with a few dollars to get on with their life due to life insurance - someone told me once Australia is the lucky country - yeah right.
Even when you start now the game board is already owned in the entirety by your opponent and filled with every single house and hotel. They also own the bank. You have to pay to roll the dice, there is no community chest, it's a speeding camera and there is no chance, only consequences. If your opponent lands on any of them they tax you for the money for them to pay their own bank with.
Property would not be as expensive if it was only for Australian citizens.....foreign individuals, companies, trusts, funds would not have access to the Australia property market. We are in competition with all of these structures. Prior to the 2000 olympics it was just locals competting for the property thus much cheaper! Try buying property in Thailand, Phillipines, Vietnam, China....they will tell to go get
I don't think that foreign investors should be allowed to own property but I don't think they can be blamed for the house prices. Most of the investors are Australian's. John Howard encouraged people into looking at housing as an investment and many people have since followed with generous tax breaks and high income tax rates people on high incomes mostly put their money into investment properties
That and the fact that there is limited land and housing and weren't building enough housing and we had high immigration it was always going to result in this outcome. I remember it being discussed 20 years ago
The reason all this exists is because the government couldn't fund and deliver government housing so they gave tax brakes to investors to do it for them, that way they don't pay management, maintenance insurance ect.
@@Severe2jz negative gearing existed before the govt decided to get out of public housing so I don’t think it’s related. The decision by govt to get out of public housing and leaving it to the market has been a massive failure for affordable housing. Affordable housing can never be provided by private market
Not even our own country anymore. I haven't felt like I belong here since about 2014. This isn't Australia anymore, I have nfi what it is. The land of people do whatever tf they want and not care is about it.
@@Retro-Iron11 If I was transported to my local oval walking track of an evening and had no idea where I was, I would say I am in China or India. This country has been sold out and I feel completely lost and alone here nowdays.
@ More like india, pakistan or new zealand. The only thing I've felt any sort of luck about here is growing up in the 80's/90's and have had toured the entire country back then. It's not Australia anymore. Plus the food thing doesn't matter anymore, imported food is better now and there is no industry left to buy Australian made goods anymore. It's just gone. Zero point to even be here. Also never mattered how much uni or tafe I did, I'm still stuck at entry level and never get a look at because I'm a single white male, felt that discrimination the very first day of getting in the work force. Country has been cooked since the late 90's.
You have described really well my main reasons for owning. I don't want to have to move every 6-12 months depending on the circumstances of the landlord. I also don't want to pay rent/mortgage when I am on the aged pension. My mum is in that situation, and over 50% of her pension goes to rent. She has no money to travel or do any of the things we are supposed to enjoy in retirement. She never planned ahead and is now paying for it. I have always vowed I will never end up like her
There’s another problem with the housing crisis. Homeowners with grown-up sons or daughters can’t truly start enjoying their retirement. Their kids don’t leave home because they can’t afford a place of their own, and the parents can’t sell their house to fund their well-deserved retirement. It’s a mess-asset-rich but cash-poor. In my case, I’m delivering food just to “hold the fort,” and nobody cares!
I disagree with your overheads being lower by owning opposed to renting. The cost of owning a home when you factor in the annual costs, rates, insurances, maintenance etc is actually far higher and in most cases does not keep up with inflation. It’s actually a bad financial decision to own your own home.
62 here, single and renting, and I could probably scrape together about 300,000 in super and savings. I won't be able to retire, as the aged care system forced us to sell my inheritance in the family home and I don't have enough to even eke out a penurious retirement in this avaristic sh*thole. We have been had by our own government.
I think the idea that everyone needs to own a home is and always was an absolute scam anyway. I'm 32 and live with my parents and have no shame ab out it. I cook, I do the landscaping, and I live independently here. Why should I go into debt and be tied to a full time job for the next 30+ years? I'd rather be free to work as little or as much or as I choose to, and have time for the things that really matter like connecting with other people and growing fruits and vegetables or learning new skills. I'm banking on societal collapse. It's coming, and it needs to happen so that we can all go back to a simpler and much more fulfiling way of living.
Housing was affordable when wages were growing faster than inflation. But globalisation, mass immigration, and housing investment incentivisation has caused wages to go backwards almost every year. Thank you every liberal government, every Labor government since Howard. I think at this point we need a pretty substantial UBI to supplement wages because the corporations aren't going to do it and with ai making so many jobs redundant. It would almost be funded just by dismantling centrelink, a flat 15% no deductions corporate tax or a resources royalty in the vicinity of Norway.
This is the dumbest comment ive ever heard. Wtf do you think will happen when you get a ubi? Inflation!! Derp!!. What will happen and already is, the government will own half your house or you will rent your house off the superfunds. But it wont stop there. The people that own houses ect will be charged and taxed to the point they cant afford their home (pensioners) and the super funds will own them too. Just remember we are moving to a society where everything is a subscription, it wont be long before you own nothing and youll be happy
The Australian Govt. never wants you to retire. If you retire, you are no longer paying taxes on the wage you are earning (so not providing an income to the Govt.), and worse yet, you may even be able to get a pension (costing the Govt. money). The housing crisis is by design to keep people working for longer.
It's currency debasement (money printing). Houses aren't really worth a million dollars, its the dollars being worth less so you need more of them to buy a house - and everything else. Remember how in the old days the husband was the only one who worked? The wife raised the children and they were able to pay off a house and retire with comfort. These days you'd struggle to do it with 2 incomes.
@@TonyRule Income to labour got decoupled from the productivity gains made since the late 70s that's why wages are so low relative to profits and why there's so much money pushing up house prices.
13% of agricultural land is foreign owned. 11% of water is foreign owned. 76% of liquid gas is foreign owned. 80% of mining sector is foreign owned. 49% of electricity is foreign owned, Big 4 banks 80% foreign owned. Woolworths 88% foreign owned. Coles 56% foreign owned. Telstra 51% foreign owned. Qantas 61% foreign owned. Profit for overseas investors.
In order for them to buy, aussie had to sell. So why did you sell out ? For example the Port of Darwin was sold to China ? Are you freaking insane ? Why did you do this ?
Chris, even if you never own a house, you will retire on the pension. Try moving to the country mate, comfortable 3 bedroom home on 800sq meter block for $500k and better lifestyle. And yes, plenty of work!!
In Greece where I live, houses are exorbitantly expensive in the big cities, but outrageously cheap in villages and more remote areas. Yet, nobody wants to buy a house there. They'd rather spend the same amount of money on just one or two-year's rent for a tiny apartment than buy a huge house in the countryside.
I'm 31 this year bought my house at 26 for $394,000 in 2020 (Northern NSW) with 20 percent deposit (saved up the deposit over the course of 4 years, the only way I saved my deposit was by couch surfing & sleeping in my car to avoid paying private rent, $5 pizzas at dominos, $2 Macca's burgers and homebrand microwave rice pouches were my main food source as well as the food pantry in town which had free fruit and veggies, all whilst working casual nightfill shifts at a supermarket, don't think I could ever do that shit today, I feel for those struggling right now trying to get their own home, it's bloody hard and so much sacrifice.
🙄 congrats 👍. But is that living? Australians see it as such an honour to live here. In Smart country’s you live to work , not like here where we work to live.
Australian 'She'll be right' attitude got us here. Aussies are not trained to question authority, no sense of freedom to object. Politicians not only know this, they count on it. As long as they distract you with sports and alcohol they have no reason to lose sleep. They're making millions and you're all working till death...and paying taxes.
Thank goodness someone pointed that out. Aussies have zero, absolutely zero ability to confront things, they just sweep things under the carpet and, ohhh stay positive, dont mention anything else, dont complain.
the ability to retire is the real reason behind properties going absolutely bat shit crazy. people saw the consistent house price growth, started to pile on which is a self fulfilling prophecy. ppl then realised, hey, rent doubled.. if it doubles again, just one more time, I'm fucked for retirement, I better buy now. boom, house prices doubled in 4 years. ask your family, how are your divorced uncles and aunties doing? that will soon become an epidemic. (there is a tidal wave of 55 plus people who can't get subsidised rent seeking emergency shelter coming)
Your monopoly analogy at the end pretty much sums it up. It’s like a big game of monopoly and those that learnt from it, have learnt to be greedy and win the game. This is the property investors market.
You will learn a lot of life lessons if you study the Monopoly game. End of the day, life is a game from start to finish. If you can’t make money while you’re sleeping, you’ll work until the day you die.
The TH-camr on this channel will never do that. He works a cubicle on the sunshine coast. If he moved to the other 90% of the Australian land mass where house are cheaper, he'd have to leave his cubicle,,, AND wouldn't have anything to whinge about.
As a 32 year old millenial who worked blue collar jobs after school, then went to uni to get into the white collar office sector because i didnt want to work hard labour until i damaged my back and then left without an income, i got a finance career and ill tell you the 65k income i get is barely above poverty, i dont go out to expensive dinners, i dont buy 8 dollar beers at pubs or clubs, and i dont go on holidays, i dont date either because from experience dating an aussie chick has them expecting a certain level of spending on average by going out to dinners, nights out etc and i just cant justify that, i choose to be single for financial reasons mostly. 45% of my after tax income goes to rent and then i have to factor in internet, power, food etc, and then every year i have to fork out 2 to 3k just to have my 2016 year nissan pulsar legally able to drive on the road and maintain. I will say this if i had a huge level of income that is 120k or more id honestly just rent a decent 2 bedroom unit and bank all the savings.
I'm 32 and make less than you. I just mow lawns. I wonder how long I will be able to continue with this work... it has gotten me into the best shape of my life and I find it quite satisfying, but my body is starting to feel a little sore. I have two degrees, but I was never comfortable with the idea of settling down and having a 'normal' job. I need my freedom and autonomy. Something is going to give soon, people are fed up and life has become a misery in this country for people our age.
Houses would not be considered expensive if we could afford them. To resolve this problem, we need to rewind to the most probable causes. We are in an open-air prison; let me nominate the jailers: • Local Councils: No matter where you live, councils are becoming the oppressors of this country. They can charge you as much as they want, and you can’t do anything about it. If you own a house, they own you. • Woolworths and Coles: These companies are sucking our blood while smiling in TV ads, meanwhile killing our farmers. • Bunnings: They managed to kill the opposition; now we pay the price. I will not put the politicians on this list because they can’t do anything about this country; they are owned by the above-listed companies.
Ageing population of the non-working landlord/owner class sitting around with tenant/mortgage slaves serving them through forced work with no chance of earning their freedom. Australia has been so tightly regulated to channel the productivity and wealth into unregulated retirement funds hoarding wealth. Think of farmers breaking their backs to collect grain, taxed and tenanted to put the grain into a few large silos and they have a few crumbs to eat. Barely enough for themselves that they have nothing to feed any children. While the few who own the silos have enough to eat for hundreds of years and never ever sharing it. The middle class is gone. We're back to feudal times. A gilded age. It eventually leads to guillotines or polarising political leaders where the enraged masses tear back their hard earned wealth from the bloody greedy tightly clenched fists of the wealthy elite.
Im 52. Worked my whole life. No kids etc so i have saved most of my money. Been in and out of the market buying and selling movi g etc. Sold last year for a very good price but only just managed to get another house at a higher price. I am a very lucky one. Spoke to my sister and said if our dream was to own a house...but that dream is now gone what do my nieces and nephews work towards?. She said they wont leave home till late so they already lose that sense of independence that we all got. They wont own a house. Family wealth will be shared and passed down. The entire system has changed.
Look at those new builds, poor quality construction won’t last 20 years. Wooden frame not even aged mature old wood, covered in a plastic sheet, gyp walls, metal roof, wood siding, Poor ventilation and heating, single paned glass, What a joke this is the Aussie Dream 😂 oh it cost you $250-300,000 plus just for a block 300-600sqm. Then a further $700,000 to build shite. On a site with no trees, no shade, no soul,
@@thewatcherofawesomecontent I agree I’ve lived in one and I would regularly rock up to the wrong house thinking it was mine. As they all look the same. Renting would be more than or equal to a mortgage 😂
@@jeanvonbarberode2377someone here speaks the truth. Someone talking rubbish. Mmmmmmm. First post makes more sense given house prices 10 plus times wages.
@@jeanvonbarberode2377 Not when the deposit grows by more than than the median annual take home wage each year. Even if they saved 100% of their income they'd never reach it. How long can you go while spending NOTHING?
The way monopoly ends is when every other player is bankrupt and the last one standing is filthy rich, i just hope Australian game doesn't end the same
Im 21 work full time save as much as I can and have cut down on unnecessary spending and the only way I can see myself owning my own home is simply from inheritance , the situation our government has put the younger generations in us so unfair , meanwhile overseas "investors can buy as many properties as they want to . not to mention rent is the highest its ever been
Lewiss- build a tiny home, fuck these big monstrosity's noone will want them because they are a liability. Build a home for $90k and do as much yourself as you can.
you're young, the power of compounding interest is in your favour. Make sure you invest and maximize your super salary sacrifice benefit as much as you can.
This is why my husband and I have re-evaluated the whole buying a house thing, we have now come to the conclusion we are happy to stay renting and investing the difference in stocks, we've told our 2 kids (now teens) to itemise saving, investing in whatever they feel will give them the most financial benefit and also itemise travel around the world, who knows they may find in their futures that buying a property in a foreign country will be a far more attractive option 🤷♀️ Australia is screwed for the average income earner/household there is no way to get ahead unless you are born into top class
Honestly this country has gone to crap. Too much wokeness, too much trying to please all the other countries, too many rich people getting rich and too many poor people being ignored. Its very depressing and i don't know if i will ever get out of this rat race.
My Dad said, "Make sure that you have a roof over your head. When l first started working, l brought a house.l made sacrifices and went without to get by. Furnitured it with furniture off the side of the road. Retired now mortgage free.
What year did you buy the house? I bought mine in 1983 on a very modest income, paid it off over 5 years, and then everyone decided to vote for the Communists, and fucked it all up.
In Australia you never own the land out right, your only the title holder. Even when you own a house you still have yearly land tax, gst and stamp duty tax, council rates, gas, water and electricity connection fees
You can retire in SEA which makes more sense anyway... I bet all the people in monetary stress vote for Greens, ALP or LNP, so really they can't complain as they are the problem!
At least a new car has a nice smell. Last car we bought new six years later no regret. Still on first set of brakes. Servicing cost pretty good. Had second hand cars. Pros and cons. The new car fuel consumption shits all over older cars. Cars not investment.
With all the dis trust in the uniparty, I would asume many Australians will be voting for One Nation or an Independant? All I say to people is, Learn how to use the voting system, Its geared to be corrupt, and the only way forward Is to dillute the power from the uniparty, and get as many Independants in other seats. But be carefull who you vote for because there are lab/liberal schills put in on the ballot to slide the votes.
You would be a fool if you aren't looking into off-grid living, inexpensive living... etc. The governments all across the world is going to tax everyone because they are in financial trouble.
Yep, we're living in a old half decked out bus. Though it's primarily to keep a roof over our heads, I believe being mobile and off grid (once I can afford to get it engineered and registered) will be a good thing the way the country is going.
@@feral4mr2 You would be lucky if you can do that... cities will definitely raise taxes, you won't believe what governments will do to get tax if they are desperate... raise import duties, sales taxes, property taxes, inheritance taxes, and far more ...
Mate I have depression, anxiety and PTSD I think you are showing some signs of mild depression since Japan Try to focus on others things Look after your health
I dont look at a house as my home. Dont ever get attached. All houses should be looked at as temporary accommodation. When high, just sell. It is not wrong if you have money and are on rent.
Plan early for Thailand, Cambodia, Laos or Indonesia for retirement - I am sure that as a business will BOOM in Australia as no one can think of retiring and solving crosswords/ playing pokies all day, anymore!
Home ownership in Australia was finished when people became infected with the notion of being able to make easy money from getting on the property ladder.
I agree that investors are and have been for a long time been prioritised over home owners. It’s been too much of our culture to see housing as a way to make money be it via a home owner or an investor. Need to change this by first changing tax breaks like removing negative gearing and change 50% CGT discount back to CPI
It's pretty easy to fall into despair with how hard it is to get a reasonably good place in one of our cities, but there are other options. If you can get a good job in a rural town it might be worth your time looking out there. You won't have access to all of the amenities you find in a big city but but the prices aren't quite as ridiculous out there yet. Won't fix all the problems that feed into our housing woes but it's something you can do for yourself.
I'm 43, single . I was out of workforce for many years as single parent. Son is turning 18 soon. No family help. No retirement, Rent is half my income, living week to week. Unless I triple my income or find a partner on high income, I'm not too hopeful about my future or even if I will be able to retire. Australia is unaffordable for me, not sure if I will be able to stay here 😥
Same here, mid 50s, divorced from a man who mismanaged our money so we never bought. I make over $100K but there is literally no way a bank will lend me money at my age and even if they did they would only give me $500K which won't even buy a one bed unit where I live.
100 of thousand migrants coming into this country every year don’t help when it comes to renting. NOT RACIST NEITHER! It just makes sense. Vote One Nation!
Just to follow up on my previous comment Chris, back when the plandemic was almost over I was looking around for a unit for my daughter, I found a 3 BR with a lockup garage for $330k, was going to give her 50K towards it to keep her borrowing down, she said that she was not going into debt for a house/unit, I pleaded with her to no avail, now 4 yrs later she tells me she is sick of renting, I said well that same sort or unit is now $600k, she is regretting her stupid decision, the borrowing now is ridiculous, can't see her ever getting away from renting now, great content Chris, this country's government is rotten to the core.
It's essentially if you own a home before 2019 then your golden for the rest of your life. If you don't have access to rich parents or any kind of investments that can make you a lot of money then you can give up on thinking that a normal job and working hard will get you in the door especially when rent keeps increasing every year.
House prices in Australia shouldn't be any more than half of what they are now. Even in Sydney, the median house price (house and land package) should only be about $500 000. There should be plenty of house and land packages in Sydney for under $400K and even a few very basic small house and land packages for under $300K. Yes, in Sydney. I'm not using any kind of exaggeration or hyperbole here. I'm fair dinkum utterly dead serious. And no I'm not including units - when I say a house and land package I mean a house and land package. This is what it would be in a sane world. House prices now aren't 'merely' a sick joke. A sick joke would be the median Sydney house price being say $900K. House prices now are beyond a sick joke.
we are building houses ad a far higher rate than ANYWHERE in the world and yet, prices only climb,,, follow the money. you will own nothing and you will be happy. WEF
It's so fucked. Even if you are buy something small to get into the housing market when you have kids and need something bigger you can't move because even the cost of upsizing is prohibitive so you end up stuck.
Listened to the video in full. Easy to tell you are very passionate. I have some advice for first home buyers getting priced out by foreigners, upgraders etc. If you get far enough to have a deposit don't give up and be prepared to compromise. Better to get onto the property ladder than be priced out a short time later. Who knows maybe there will be a real estate correction that will give first home buyers more chance, take Melbourne as an example.
Don't give up that's what they want you to do. Stop wasting you energy on home ownership instead focus on getting rid of the cause which is Big government and economists. Never support either Liberal or Labor as they are the same one and only political entity. Come election day do the tick and flick to avoid fines and vote for what you want not for somebody that lies and doesn't care. Vote write down to STOP INCOME TAX under $100k
Doing this is a vote for the major parties. If you vote for independents or a minor party at least major parties will see their primary vote slide and then have to shift.
So very true , you must vote for someone else other than the main parties How about the Houses for Australians political party do you think it could catch on and even get votes ?
I was alive back then, and things really were as good as you said. We ate steak, only one parent had to work, and we paid off our 4 bedroom home in 5 years (working menial jobs). Our house was only 3 times yearly earnings back then.
Even in 3rd world countries you can build your own shelter . If you did that here the council would come and tear it down.
Sadly, true. They want you locked in a mortgage with a big 4 bank.
for your own safety, of course 😉
Yeah, right, like any of these greedy grubs care about your safety?! 😂 @lukasvymetal2665
@lukasvymetal2665 of course
Exactly. There is really no realistic options for families in particular. We would live in a shed if it meant we could meaningfully build up savings (this is our life force we put into working) , but there is no option for that. You'll get kicked out and have your kids taken away or something. It's so disgusting... I hope peoples rage is building.
Don't worry, the politicians have wonderfully property portfolios.
In Albo’s case we all know where he lives. Just saying?!?!?
@ it's worth $4.3 million on $ 400 000 a year salary
Oz realestate is bigger than politicks housos. They are $$ wise, a drop in the bucket. The taxes gov get however, are another story-incentive imo.
In my opinion politicians should not be allowed to own investment properties - too much of a conflict of interest.
So original!
Australia is finished for the average working class person end of story.
Australias cooked mate done like a dinner
@@tanthaman WHAT DOES THAT MEAN WE GIVE UP OR DO WE PUT LAST UNI PARTY GREENS AND TRALS MAYBE GIVE THAT A GO AND GET YOUR COUNTRY BACK
@@ljp1942 in the same time wages went up 13% house prices went up 400%.
2019 bought my 4 bed house 540k western Sydney now estimated up to 950k.
Airds in western Sydney being rebranded newbrook houses selling at $1 million
Appin approved 12300 homes to be built.
Campbelltown 5 bed duplex sold for 1.1 mil
Rich Colosseum
@dominicgalante7501 greens are the worst socialist party in history, like every time this happens housing will be affordable again in 15 years. 10 pay rises will bring the average wage upto 150k a year ect
The government wants you to retire when you die
Yep keep paying taxe$$$$!
Its sad reality 😭
Well said.. The government of Australia did this to anyone living in Australia why? Because the produces nothing!!! They don’t export 💩!! Taking in product from other countries dosnt make a country rich it’s how much you produce the GDP!!!!!! Sooooo let’s just make homes a way for the country “banks” to profit from.. Smart idea for a way to collapse the economy when someone is strapped paying a mortgage for 20-40yrs. Your future is done
Indeed, the government wants you to die before you retire. No need to pay you a pension, and more money for the big end of town.
you will own nothing, ring any bells
Homes should NEVER have been turned into a commodity. Period.
its not that, its immigration
Neither should water or electricity.
They have never been a “Commodity”.
That just BS nonsense from people that don’t understand economics.
It's a mix of both, and many other factors. Houses should never be used as a money making cash cow by means of outrageous capital gains and tax right offs. Also the handouts and free healthcare given to all who don't contribute to the system. It will all collapse.
I think the replies on this comment are totally incorrect and don't get to the class divide. The problem isn't "immigrants" or "scamming the system" it's the ruling class setting us up to fight each other so nobody realises that it the billionaires and politicians taking all the cake
Australian dream for Indians and Chinese
Yes, the true workers.
Curry mucher@@amaknusa9212
I wouldn’t call them hard workers just come from a way of life that Aussies wouldn’t tolerate ie working together full stop much less living 10 families to 1 house pooling money and resources, hot bedding, sharing boots and clothes, stink from not buying deodorant and showers cost money living like that makes a shitty job ubering for $2 a hr doing a 20+hr day with a bigger plan in mind feasible a Aussie that came from fair go mate but fuck you your doing it on your own there’s enough for us all to do well and harbours a similar attitude thinking we are still the lucky country has no hope competing despite being among the hardest working intelligent inventive and ingenious people on earth… provide the incentive and you can predict the outcome the current incentive of being sold out buy sellout puppet politicians hopelessness breeds a predictable hopeless work culture
@@gregbourke1500If you don't recognise that the Chinese in particular but Asians in general have a work ethic that makes the hard working Italians look lazy, and shows Aussies for what they are (couch potatoes), then it's time to get real!!!!
@@amaknusa9212Exactly..Aussies just whinge about people who just get on with it, don't play the victim or expect everything to be easy.
The fact someone else can use my superannuation money to buy fucken property but I can't use it to buy a house to live in is an outrage.
More tenacity isn't the answer, this housing disaster is ordained by the federal government.
Here's the culprits....
1. The Australian Labor party
2. The Australian liberal party
3. Banks
4. Real estate agents
WEF you will own nothing and be happy (food for thought its all planned)
You forgot The Greens and several Independents
The sooner the public figure out 1 2 3 and 4 are all the same people, the sooner we might get somewhere....
Your list doesn't include the Greens and their environmental demands.
who have imposed so many draconian 'climate-change' building regulations on builders -
---that they can't build a shit-box without a stack of environmental approvals having to be met.
All of these 'climate change - carbon footprint' measures have seen the cost of construction go sky-high.
Also the WEF and the mining companies.
Save your money so you can buy a house in SEA or South America once you get enough. Australia is FUCKED
Still need money to live on also.
You can't really buy a house in SEA unless your partner is a local or via a company, etc. Only condos.
Don't save your money in a bank, it is not your money once in a bank. Buy BTC & then retire in SEA.
Mate as a fellow Aussie I am fucking absolutely disgusted in our polical policies which have done this to Australians since 90's.
They have sold our industry out sold homes outb and sold our future out.
The pink elephant in the room has become so huge Elon may see it from Mars....
And if this was in Europe there would be rallies in the streets, but Australia we just beg down to the overlords
do you think the government cares?
they're doing a great job. Do yours
@@tobybrown1179 Where in Europe?
I'm one of the lucky few to own a house with virtually no mortgage - the catalyst? My father dying so I could inherit part of his estate. He didn't even have a high-paying job during his working life but as a Boomer who lived through Australia's golden era, he was able to afford a double-brick, three bedroom home on 800 sqm and access to high-returning superannuation schemes that netted him a good chunk of money.
Australia is not the way it is by accident - it is by design.
You are very lucky in this regard to have this provided by your father. But if the whole system continues to rely on the bank of Mum and dad then the system will collapse. Why would anyone need to work for money anymore? The cost of everything will continue to over inflate into oblivion, it already is. Money won't be worth a scrap.
As long as the politicians have their guaranteed 200k pension when they retire WHYwould they really give a fk about us
It's OK mate. Albo just bought a 4m dollar home. He's right.
dutton is worth 300M
@@timothyantipodes7646that’s because Dutton isn’t Dol bludger like Albo.
@astroanthobbies3801 oh okay 👍 that's OK then ,wish I bought houses in Sydney on the doll, better to be and ex qld copper, who bought child cares with his wife ,that's ok then
$2 Pfizer shares can do that 😕
@@bdawg3942 Yeah probably. Who knows what these crooks do behind the scenes.
Same boat as you mate.
No kids, no wife, good job, worked since 18.
I’m never going to own a home. Looking down the barrel of having to pay $750k for a 1 bedroom unit…WHAT AN EXISTENCE.
I find these series a bit depresing. Sure prices have gone up since covid specially but Australia offers great value still.
750k for a 1 bedroom unit? You can get a 2bed walking distance to the beach (older building of course) for that money on the Gold Coast. And you can get a 3 bed fairly new townhouse in other suburbs 25min drive from the beach. Brisbane, 2 beds for 600-700k in west end. 1 beds for under 600k. Houses 3bed between 700k to 800k between Brisbane and Gold Coast.
Do you think, truly asking, that it is worth moving to another City to overcome the high property prices? Get in, stop paying rent? Or the Australian dream is confined to Sydney or wherever you are from? You have no kids and no wife, you can pack and go.
All the best, there are good things out there.
You should've invested in XRP
should have listened to Pauline Hansen in the 90s.
@@FernitoAM thats not true, show that you can buy a house on the goldcoast near the beach, are you talkin precovid prices? any links?
Move to Thailand
Foreign investment and ownership in Aussie housing should never be permitted.
ChinaIndiaChinaIndiaChinaIndia
The government encourages it.
You will work until you die. This really is the key issue which will cause a mental health epidemic completely breaking the will of the middle class. A nation of people with no skin in the game.
99% of new houses built in my older suburb are occupied by new migrants! There selling Aussies out!
New immigrants cannot buy if old immigrants do not sell. Why do you blame one half while ignoring the other half ?
@@Islandwaterjet Born in Australia is not considered an immigrant. Older suburbs do have fully fledged born and bred Aussies.
Mate, forget the Australian house, I'd suggest build up some sort of PASSIVE income or online business and GTFO out of Australia, look at SE Asia or south America.
And that's why over 1 million Australians have moved overseas in the last year.
Blame socialism 30000 left to usa in yrs
2000000 foreigners moved in
really ? Which source did you get info from ?
@@anish-79 Source "Believe Me Bro"
@anish-79 the stat is real. Lots of people have left, but lots of people have replaced them too.
Im at the point where id much rather have 100k in savings and be renting somewhere comforatble than be $1 million+ in debt and living in a basic property thats nothing special
You can buy hous under 400k lol 300k mortgage.
But the problem is that the 100k loses value every day….for some stupid reason a 30 year old weatherboard home is increasing by a 100k a year.
That depends on what path government takes us on in 2025. I believe we are going into hyper-inflationary debt crisis where government will multiply money printing inflating away debts and that will ultimately include private debt (your mortgage). Think back 1970s inflationary crisis. Even with high interest rates, your home price in AUD could go up 1000% every year while your outstanding mortgage number does not. If you feel like you can service your mortgage, carefully consider your options and risks.
@@Reznor440 you missed the middle of the video then. Unless you have millions in super your $100k will disappear pretty quickly paying rent in retirement.
And one thing not discussed in the video, imagine being evicted for any reason when you are 70 years old. Moving sucks when you are young.
@@dustingoldsworthy7303 Yes you can, but in bum F nowhere, the problem with living in nowhere is that if you don't work from home you have trouble finding employment. There is a reason those properties are cheap.
You have no idea how angry i am. And how hopeless i am feeling.
So many of us feel the same
Push back - write letters to the editor. I have surely had at least 20 letters published on the housing crisis over the last approximately two years (in The Cairns Post, Courier Mail, and The Australian - not each but in total). Be polite and professional while nevertheless writing in a powerful engaging manner.
I moved to Vietnam
Try Vietnam, cheap as chips
@ Not chips here in Australia, those are expensive af.
Chris gets it. Vote Independent 2025. Neither party is doing anything to help these issues
no way independent is a wasted vote, liberal democrats one nation LNP put labor and greens last
One Nation who actually get and address the crime that is happening against Australians #1 Cost of living #2 Climate BS to waste and divert resources away from vital sectors, schools, hospitals, infrastructure... #3 Closing of all Australian Manufacturing, seriously were just going to mine and sell houses?...... Independent votes go to Liberal and Labor, first understand how the voting system works
Whislt I agree, you vote independent and they often give their votes and support to a party you don't like.
Exactly. Do not fit independent unless you know where their preferences are going.@@michaelthegreat44
Well you better check where those preferences go as an independent is never going to become pm
Australia the lucky country - yeah right - not in my life time - I’ve worked out that I will need to work 10-12 hours a day until the day I die to put a meal on the table, pay for everyday living costs (no annual holidays, no luxuries, pay the rent & hopefully am able to afford a carton of beer once a month - the sooner I die the better off my family will be off with a few dollars to get on with their life due to life insurance - someone told me once Australia is the lucky country - yeah right.
Crikey cobber.
The Monopoly analogy is brilliant - ‘how are you supposed to win Monopoly when you join halfway through’ yeppppp
You inherit mayfair and park lane.
Even when you start now the game board is already owned in the entirety by your opponent and filled with every single house and hotel. They also own the bank. You have to pay to roll the dice, there is no community chest, it's a speeding camera and there is no chance, only consequences. If your opponent lands on any of them they tax you for the money for them to pay their own bank with.
This is hilarious. The victim mentality is so deep in this country. Communism in our schools has rotted everyone's brain.
Property would not be as expensive if it was only for Australian citizens.....foreign individuals, companies, trusts, funds would not have access to the Australia property market. We are in competition with all of these structures. Prior to the 2000 olympics it was just locals competting for the property thus much cheaper! Try buying property in Thailand, Phillipines, Vietnam, China....they will tell to go get
Exactly 💯💯
I don't think that foreign investors should be allowed to own property but I don't think they can be blamed for the house prices. Most of the investors are Australian's. John Howard encouraged people into looking at housing as an investment and many people have since followed with generous tax breaks and high income tax rates people on high incomes mostly put their money into investment properties
That and the fact that there is limited land and housing and weren't building enough housing and we had high immigration it was always going to result in this outcome. I remember it being discussed 20 years ago
The reason all this exists is because the government couldn't fund and deliver government housing so they gave tax brakes to investors to do it for them, that way they don't pay management, maintenance insurance ect.
@@Severe2jz negative gearing existed before the govt decided to get out of public housing so I don’t think it’s related. The decision by govt to get out of public housing and leaving it to the market has been a massive failure for affordable housing. Affordable housing can never be provided by private market
That's why I am looking at Bali for retirement. How disgusting that I now am considering leaving my country to have an affordable lifestyle.
Not even our own country anymore. I haven't felt like I belong here since about 2014. This isn't Australia anymore, I have nfi what it is. The land of people do whatever tf they want and not care is about it.
How old are you mate
@@Retro-Iron11 If I was transported to my local oval walking track of an evening and had no idea where I was, I would say I am in China or India. This country has been sold out and I feel completely lost and alone here nowdays.
@ More like india, pakistan or new zealand. The only thing I've felt any sort of luck about here is growing up in the 80's/90's and have had toured the entire country back then. It's not Australia anymore. Plus the food thing doesn't matter anymore, imported food is better now and there is no industry left to buy Australian made goods anymore. It's just gone. Zero point to even be here. Also never mattered how much uni or tafe I did, I'm still stuck at entry level and never get a look at because I'm a single white male, felt that discrimination the very first day of getting in the work force. Country has been cooked since the late 90's.
Me too. Looking at italy. I'm jumping ship
You have described really well my main reasons for owning. I don't want to have to move every 6-12 months depending on the circumstances of the landlord. I also don't want to pay rent/mortgage when I am on the aged pension. My mum is in that situation, and over 50% of her pension goes to rent. She has no money to travel or do any of the things we are supposed to enjoy in retirement. She never planned ahead and is now paying for it. I have always vowed I will never end up like her
There’s another problem with the housing crisis. Homeowners with grown-up sons or daughters can’t truly start enjoying their retirement. Their kids don’t leave home because they can’t afford a place of their own, and the parents can’t sell their house to fund their well-deserved retirement. It’s a mess-asset-rich but cash-poor. In my case, I’m delivering food just to “hold the fort,” and nobody cares!
I'm 60 still have my 3 kids at home. They can't even afford to rent
@ Same here, not complaining but this is not living is it?
Kids who can move back in with their parents are lucky, many young and older adults don't have the option to move in with their folks.
@@moz7173 That’s my story, they came back! Gotta lovem
I disagree with your overheads being lower by owning opposed to renting. The cost of owning a home when you factor in the annual costs, rates, insurances, maintenance etc is actually far higher and in most cases does not keep up with inflation. It’s actually a bad financial decision to own your own home.
62 here, single and renting, and I could probably scrape together about 300,000 in super and savings. I won't be able to retire, as the aged care system forced us to sell my inheritance in the family home and I don't have enough to even eke out a penurious retirement in this avaristic sh*thole. We have been had by our own government.
Australias cooked
Cash up, move to SE Asia.
Aged care system is fucking rigged and a scam
If I was in that situation I would go to Asia
@Christian-w4e Indeed, and I have been looking at options in SE Asia, for here is out of the question.
Home prices is the biggest issue Australia has ever seen... Retirement will never look the same.
I think the idea that everyone needs to own a home is and always was an absolute scam anyway. I'm 32 and live with my parents and have no shame ab out it. I cook, I do the landscaping, and I live independently here. Why should I go into debt and be tied to a full time job for the next 30+ years? I'd rather be free to work as little or as much or as I choose to, and have time for the things that really matter like connecting with other people and growing fruits and vegetables or learning new skills. I'm banking on societal collapse. It's coming, and it needs to happen so that we can all go back to a simpler and much more fulfiling way of living.
It must be nice to have parents with a house and not have children of your own. I’d recommend you tamper your preaching mate…
One of our problems is red tape, green tape, black tape and on the take.
Loving these chats mate 🫡
Housing was affordable when wages were growing faster than inflation. But globalisation, mass immigration, and housing investment incentivisation has caused wages to go backwards almost every year. Thank you every liberal government, every Labor government since Howard.
I think at this point we need a pretty substantial UBI to supplement wages because the corporations aren't going to do it and with ai making so many jobs redundant. It would almost be funded just by dismantling centrelink, a flat 15% no deductions corporate tax or a resources royalty in the vicinity of Norway.
This is the dumbest comment ive ever heard. Wtf do you think will happen when you get a ubi? Inflation!! Derp!!. What will happen and already is, the government will own half your house or you will rent your house off the superfunds. But it wont stop there. The people that own houses ect will be charged and taxed to the point they cant afford their home (pensioners) and the super funds will own them too. Just remember we are moving to a society where everything is a subscription, it wont be long before you own nothing and youll be happy
it started under hawke and keating
The Australian Govt. never wants you to retire. If you retire, you are no longer paying taxes on the wage you are earning (so not providing an income to the Govt.), and worse yet, you may even be able to get a pension (costing the Govt. money).
The housing crisis is by design to keep people working for longer.
It's currency debasement (money printing). Houses aren't really worth a million dollars, its the dollars being worth less so you need more of them to buy a house - and everything else. Remember how in the old days the husband was the only one who worked? The wife raised the children and they were able to pay off a house and retire with comfort. These days you'd struggle to do it with 2 incomes.
If that was the case, income would be increasing right along with it. But it isn't. So it's a supply/demand issue. Too many people coming in.
@@TonyRule Income to labour got decoupled from the productivity gains made since the late 70s that's why wages are so low relative to profits and why there's so much money pushing up house prices.
How to put those politicians into prison?
13% of agricultural land is foreign owned.
11% of water is foreign owned.
76% of liquid gas is foreign owned.
80% of mining sector is foreign owned.
49% of electricity is foreign owned,
Big 4 banks 80% foreign owned.
Woolworths 88% foreign owned.
Coles 56% foreign owned.
Telstra 51% foreign owned.
Qantas 61% foreign owned.
Profit for overseas investors.
and 90% of Australians voted for it so boohooo 😭😢😭
In order for them to buy, aussie had to sell. So why did you sell out ? For example the Port of Darwin was sold to China ? Are you freaking insane ? Why did you do this ?
Chris, even if you never own a house, you will retire on the pension. Try moving to the country mate, comfortable 3 bedroom home on 800sq meter block for $500k and better lifestyle. And yes, plenty of work!!
In Greece where I live, houses are exorbitantly expensive in the big cities, but outrageously cheap in villages and more remote areas. Yet, nobody wants to buy a house there. They'd rather spend the same amount of money on just one or two-year's rent for a tiny apartment than buy a huge house in the countryside.
Because there is no work in villages and remote areas?
@dim2389 sure, but still you can grow your own food and be self sufficient. Life is very affordable there, you don't need much.
I fully agree...your aim should be to own your own place outright so you can retire debt-free, doesn't matter if it's in WOOP-WOOP
I'm 31 this year bought my house at 26 for $394,000 in 2020 (Northern NSW) with 20 percent deposit (saved up the deposit over the course of 4 years, the only way I saved my deposit was by couch surfing & sleeping in my car to avoid paying private rent, $5 pizzas at dominos, $2 Macca's burgers and homebrand microwave rice pouches were my main food source as well as the food pantry in town which had free fruit and veggies, all whilst working casual nightfill shifts at a supermarket, don't think I could ever do that shit today, I feel for those struggling right now trying to get their own home, it's bloody hard and so much sacrifice.
🙄 congrats 👍. But is that living? Australians see it as such an honour to live here. In Smart country’s you live to work , not like here where we work to live.
The politicians all have investment properties, if property prices drop and become “affordable”, they stand to lose out.
Australia is a massive continent with a tiny number of people on it. Self building should be an option
Australian 'She'll be right' attitude got us here. Aussies are not trained to question authority, no sense of freedom to object. Politicians not only know this, they count on it. As long as they distract you with sports and alcohol they have no reason to lose sleep. They're making millions and you're all working till death...and paying taxes.
Thank goodness someone pointed that out. Aussies have zero, absolutely zero ability to confront things, they just sweep things under the carpet and, ohhh stay positive, dont mention anything else, dont complain.
y'all need to get yourselves a Donald Trump
the ability to retire is the real reason behind properties going absolutely bat shit crazy. people saw the consistent house price growth, started to pile on which is a self fulfilling prophecy. ppl then realised, hey, rent doubled.. if it doubles again, just one more time, I'm fucked for retirement, I better buy now. boom, house prices doubled in 4 years. ask your family, how are your divorced uncles and aunties doing? that will soon become an epidemic. (there is a tidal wave of 55 plus people who can't get subsidised rent seeking emergency shelter coming)
Your monopoly analogy at the end pretty much sums it up. It’s like a big game of monopoly and those that learnt from it, have learnt to be greedy and win the game. This is the property investors market.
You will learn a lot of life lessons if you study the Monopoly game.
End of the day, life is a game from start to finish.
If you can’t make money while you’re sleeping, you’ll work until the day you die.
Go to Lightning Ridge, get a lease, dig a hole, build a house.
It never rains out there😢
@@KarynWatts Move to UK we have plenty of rain
The TH-camr on this channel will never do that. He works a cubicle on the sunshine coast. If he moved to the other 90% of the Australian land mass where house are cheaper, he'd have to leave his cubicle,,, AND wouldn't have anything to whinge about.
As a 32 year old millenial who worked blue collar jobs after school, then went to uni to get into the white collar office sector because i didnt want to work hard labour until i damaged my back and then left without an income, i got a finance career and ill tell you the 65k income i get is barely above poverty, i dont go out to expensive dinners, i dont buy 8 dollar beers at pubs or clubs, and i dont go on holidays, i dont date either because from experience dating an aussie chick has them expecting a certain level of spending on average by going out to dinners, nights out etc and i just cant justify that, i choose to be single for financial reasons mostly. 45% of my after tax income goes to rent and then i have to factor in internet, power, food etc, and then every year i have to fork out 2 to 3k just to have my 2016 year nissan pulsar legally able to drive on the road and maintain.
I will say this if i had a huge level of income that is 120k or more id honestly just rent a decent 2 bedroom unit and bank all the savings.
I definitely agree with not dating an Aussie chick or any other nationality either. Women love to spend, especially when it's not their money.
I'm 32 and make less than you. I just mow lawns. I wonder how long I will be able to continue with this work... it has gotten me into the best shape of my life and I find it quite satisfying, but my body is starting to feel a little sore. I have two degrees, but I was never comfortable with the idea of settling down and having a 'normal' job. I need my freedom and autonomy. Something is going to give soon, people are fed up and life has become a misery in this country for people our age.
Houses would not be considered expensive if we could afford them. To resolve this problem, we need to rewind to the most probable causes. We are in an open-air prison; let me nominate the jailers:
• Local Councils: No matter where you live, councils are becoming the oppressors of this country. They can charge you as much as they want, and you can’t do anything about it. If you own a house, they own you.
• Woolworths and Coles: These companies are sucking our blood while smiling in TV ads, meanwhile killing our farmers.
• Bunnings: They managed to kill the opposition; now we pay the price.
I will not put the politicians on this list because they can’t do anything about this country; they are owned by the above-listed companies.
Ageing population of the non-working landlord/owner class sitting around with tenant/mortgage slaves serving them through forced work with no chance of earning their freedom. Australia has been so tightly regulated to channel the productivity and wealth into unregulated retirement funds hoarding wealth. Think of farmers breaking their backs to collect grain, taxed and tenanted to put the grain into a few large silos and they have a few crumbs to eat. Barely enough for themselves that they have nothing to feed any children. While the few who own the silos have enough to eat for hundreds of years and never ever sharing it. The middle class is gone. We're back to feudal times. A gilded age. It eventually leads to guillotines or polarising political leaders where the enraged masses tear back their hard earned wealth from the bloody greedy tightly clenched fists of the wealthy elite.
Spot on!! Couldn’t have said it better, or more succinctly.
We’re meant to own nothing and be happy, that’s the game plan from the WEF.
It's not even about winning that game of Monopoly, there's barely a chance at even surviving a single roll of the dice.
Im 52. Worked my whole life. No kids etc so i have saved most of my money. Been in and out of the market buying and selling movi g etc. Sold last year for a very good price but only just managed to get another house at a higher price. I am a very lucky one. Spoke to my sister and said if our dream was to own a house...but that dream is now gone what do my nieces and nephews work towards?. She said they wont leave home till late so they already lose that sense of independence that we all got. They wont own a house. Family wealth will be shared and passed down. The entire system has changed.
Look at those new builds, poor quality construction won’t last 20 years. Wooden frame not even aged mature old wood, covered in a plastic sheet, gyp walls, metal roof, wood siding, Poor ventilation and heating, single paned glass,
What a joke this is the Aussie Dream 😂 oh it cost you $250-300,000 plus just for a block 300-600sqm. Then a further $700,000 to build shite.
On a site with no trees, no shade, no soul,
prison cells for rent 🤣
@@thewatcherofawesomecontent
I agree I’ve lived in one and I would regularly rock up to the wrong house thinking it was mine. As they all look the same. Renting would be more than or equal to a mortgage 😂
Built by Indians, for Indians.
@DubC68 I think the current trend of cheap building materials is from America we only get the economy size though.
My hart goes out to you Chris, and the millions of other Australians out there who are in the same boat.
Out of all my mates the only ones who have their own place either inherited or have filthy rich parents who bought them a place. sucks.
or worked hard years and years and were able to save!
@@jeanvonbarberode2377someone here speaks the truth. Someone talking rubbish. Mmmmmmm. First post makes more sense given house prices 10 plus times wages.
This is hilarious. The victim mentality is so deep in this country. Communism in our schools has rotted everyone's brain.
@@jeanvonbarberode2377 Not when the deposit grows by more than than the median annual take home wage each year. Even if they saved 100% of their income they'd never reach it. How long can you go while spending NOTHING?
Buy where you can afford. This might be a rural town in Australia, it might be in Asia?
The way monopoly ends is when every other player is bankrupt and the last one standing is filthy rich, i just hope Australian game doesn't end the same
Im 21 work full time save as much as I can and have cut down on unnecessary spending and the only way I can see myself owning my own home is simply from inheritance , the situation our government has put the younger generations in us so unfair , meanwhile overseas "investors can buy as many properties as they want to . not to mention rent is the highest its ever been
Lewiss- build a tiny home, fuck these big monstrosity's noone will want them because they are a liability. Build a home for $90k and do as much yourself as you can.
you're young, the power of compounding interest is in your favour. Make sure you invest and maximize your super salary sacrifice benefit as much as you can.
This is why my husband and I have re-evaluated the whole buying a house thing, we have now come to the conclusion we are happy to stay renting and investing the difference in stocks, we've told our 2 kids (now teens) to itemise saving, investing in whatever they feel will give them the most financial benefit and also itemise travel around the world, who knows they may find in their futures that buying a property in a foreign country will be a far more attractive option 🤷♀️ Australia is screwed for the average income earner/household there is no way to get ahead unless you are born into top class
It's a mess Chris, I moved overseas for this exact reason. It just seemed there was no other option.
Honestly this country has gone to crap. Too much wokeness, too much trying to please all the other countries, too many rich people getting rich and too many poor people being ignored. Its very depressing and i don't know if i will ever get out of this rat race.
My Dad said, "Make sure that you have a roof over your head. When l first started working, l brought a house.l made sacrifices and went without to get by. Furnitured it with furniture off the side of the road. Retired now mortgage free.
Way to go..tired of whingers. How are the foreigners doing it when the money they come with is worth crap given the exchange rate.
What year did you buy the house ?
What year did you buy the house? I bought mine in 1983 on a very modest income, paid it off over 5 years, and then everyone decided to vote for the Communists, and fucked it all up.
In Australia you never own the land out right, your only the title holder. Even when you own a house you still have yearly land tax, gst and stamp duty tax, council rates, gas, water and electricity connection fees
You don't pay land tax on your home.
@krystal5887 in some areas yes
You can retire in SEA which makes more sense anyway... I bet all the people in monetary stress vote for Greens, ALP or LNP, so really they can't complain as they are the problem!
Buying a NEW house is as dumb as buying a NEW car [ the worst investment there is ] The secondhand market is much better.
Unfortunately a rotting house from the 60s is pricing in around a new house
At least a new car has a nice smell. Last car we bought new six years later no regret. Still on first set of brakes. Servicing cost pretty good. Had second hand cars. Pros and cons. The new car fuel consumption shits all over older cars. Cars not investment.
I’ve had a gut full.
With all the dis trust in the uniparty,
I would asume many Australians will be voting for One Nation or an Independant?
All I say to people is, Learn how to use the voting system, Its geared to be corrupt, and the only way forward Is to dillute the power from the uniparty, and get as many Independants in other seats.
But be carefull who you vote for because there are lab/liberal schills put in on the ballot to slide the votes.
Absolutely spot on mate.
You would be a fool if you aren't looking into off-grid living, inexpensive living... etc. The governments all across the world is going to tax everyone because they are in financial trouble.
Yep, we're living in a old half decked out bus. Though it's primarily to keep a roof over our heads, I believe being mobile and off grid (once I can afford to get it engineered and registered) will be a good thing the way the country is going.
@@feral4mr2 You would be lucky if you can do that... cities will definitely raise taxes, you won't believe what governments will do to get tax if they are desperate... raise import duties, sales taxes, property taxes, inheritance taxes, and far more ...
Now day's the quickest way to get into the house market it easy just started selling cigarettes 😂
I just looked through some of your content and look forward to listening to it. Subscribed!
Everybody in every country wants to own their own home/house. It's not the Australian dream, it's the American one English, EEEEEEverywhere.
Absolutely correct!!
Those houses you are walking past look like cardboard boxes. Australian houses are poor quality as well as expensive.
Mate
I have depression, anxiety and PTSD
I think you are showing some signs of mild depression since Japan
Try to focus on others things
Look after your health
I would think like 70% of the country is on some form of anti depressent .
Pretty sad
I dont look at a house as my home. Dont ever get attached. All houses should be looked at as temporary accommodation.
When high, just sell. It is not wrong if you have money and are on rent.
There are pollies who said in the past that we the workers will work until we drop.
Plan early for Thailand, Cambodia, Laos or Indonesia for retirement - I am sure that as a business will BOOM in Australia as no one can think of retiring and solving crosswords/ playing pokies all day, anymore!
Home ownership in Australia was finished when people became infected with the notion of being able to make easy money from getting on the property ladder.
The silent depression 😢 hasn't even hit globally yet, the repo market worldwide is growing daily, gonna hit here soon
I agree that investors are and have been for a long time been prioritised over home owners. It’s been too much of our culture to see housing as a way to make money be it via a home owner or an investor. Need to change this by first changing tax breaks like removing negative gearing and change 50% CGT discount back to CPI
It's pretty easy to fall into despair with how hard it is to get a reasonably good place in one of our cities, but there are other options. If you can get a good job in a rural town it might be worth your time looking out there. You won't have access to all of the amenities you find in a big city but but the prices aren't quite as ridiculous out there yet.
Won't fix all the problems that feed into our housing woes but it's something you can do for yourself.
I'm 43, single . I was out of workforce for many years as single parent. Son is turning 18 soon. No family help. No retirement, Rent is half my income, living week to week. Unless I triple my income or find a partner on high income, I'm not too hopeful about my future or even if I will be able to retire. Australia is unaffordable for me, not sure if I will be able to stay here 😥
Same here, mid 50s, divorced from a man who mismanaged our money so we never bought. I make over $100K but there is literally no way a bank will lend me money at my age and even if they did they would only give me $500K which won't even buy a one bed unit where I live.
100 of thousand migrants coming into this country every year don’t help when it comes to renting. NOT RACIST NEITHER! It just makes sense.
Vote One Nation!
They got 1 seat in QLD system is rigged
Government has said young people aren't their concern...
At least the scum bags tell the truth sometimes.
Just to follow up on my previous comment Chris, back when the plandemic was almost over I was looking around for a unit for my daughter, I found a 3 BR with a lockup garage for $330k, was going to give her 50K towards it to keep her borrowing down, she said that she was not going into debt for a house/unit, I pleaded with her to no avail, now 4 yrs later she tells me she is sick of renting, I said well that same sort or unit is now $600k, she is regretting her stupid decision, the borrowing now is ridiculous, can't see her ever getting away from renting now, great content Chris, this country's government is rotten to the core.
It's essentially if you own a home before 2019 then your golden for the rest of your life. If you don't have access to rich parents or any kind of investments that can make you a lot of money then you can give up on thinking that a normal job and working hard will get you in the door especially when rent keeps increasing every year.
The small housing blocks in the outer west suburbs of Melbourne with no backyard or proper amenities. Are they Developing this land legally?
House prices in Australia shouldn't be any more than half of what they are now. Even in Sydney, the median house price (house and land package) should only be about $500 000. There should be plenty of house and land packages in Sydney for under $400K and even a few very basic small house and land packages for under $300K. Yes, in Sydney. I'm not using any kind of exaggeration or hyperbole here. I'm fair dinkum utterly dead serious. And no I'm not including units - when I say a house and land package I mean a house and land package. This is what it would be in a sane world. House prices now aren't 'merely' a sick joke. A sick joke would be the median Sydney house price being say $900K. House prices now are beyond a sick joke.
I dont know what it is exactly but hearing you rant seems to make me feel better, and for that I thankyou kindly!
Rent is gonna only get worse as the immigration remains high and wages remain stagnant
Immigration policy sadly also industrial relations policy. Sadly those at the top never lose or pay.
What? Don't you want to live 5 to a room in a 4 bedroom like they do?
TO ALL OF YOU LETS GET OUR COUNTRY BACK .....PUT LAST UNI PARTY GREENS AND TEALS
Its the Severe shortage of Land on the Australian Continent Combined with The over population problem of 26 million people on our tiny Island
Indeed, the situation is so stupid. But, that's what my democratically elected government has done for me.
Hahahaaaa..
we are building houses ad a far higher rate than ANYWHERE in the world and yet, prices only climb,,, follow the money.
you will own nothing and you will be happy. WEF
external ownership needs to be utterly banned.
3:34 The Australian rental market is literally hunger games.
It's so fucked. Even if you are buy something small to get into the housing market when you have kids and need something bigger you can't move because even the cost of upsizing is prohibitive so you end up stuck.
Listened to the video in full. Easy to tell you are very passionate. I have some advice for first home buyers getting priced out by foreigners, upgraders etc. If you get far enough to have a deposit don't give up and be prepared to compromise. Better to get onto the property ladder than be priced out a short time later. Who knows maybe there will be a real estate correction that will give first home buyers more chance, take Melbourne as an example.
Don't give up that's what they want you to do. Stop wasting you energy on home ownership instead focus on getting rid of the cause which is Big government and economists. Never support either Liberal or Labor as they are the same one and only political entity. Come election day do the tick and flick to avoid fines and vote for what you want not for somebody that lies and doesn't care. Vote write down to STOP INCOME TAX under $100k
You're delusional if you think you can vote your way out of this mess Australia is in. That ship sailed decades ago.
Doing this is a vote for the major parties. If you vote for independents or a minor party at least major parties will see their primary vote slide and then have to shift.
Keep up the message I totally agree
So very true , you must vote for someone else other than the main parties How about the Houses for Australians political party do you think it could catch on and even get votes ?
Ha Ha, it's not who you vote for or how many times, all that matters who counts the votes.
I was alive back then, and things really were as good as you said. We ate steak, only one parent had to work, and we paid off our 4 bedroom home in 5 years (working menial jobs). Our house was only 3 times yearly earnings back then.