The average house in Sydney was $300,000 in 2000. Now it’s 1.2 million in 2024. 4x in 20 some years. And average wages hasn’t gone 4 times in those years.
@thegreatpyramidrevelations Let's say your house could go for 5 million, but you sell it for 2 million. Effectively means you just gave a 2 million gift to some rich guy. Nobody sensible in any country is gonna do that. Not warping the market towards property investment is probably smarter than just hoping everyone's gonna start giving each other gifts worth millions or hundreds of thousands.
@@buildingthegreatpyramid Pointless to blame individuals, you would do exactly the same thing. If someone came along and offered you a massive number for your house, and someone offered you a lower number, I bet you would take the higher number.
"The lucky country" was not a compliment - it was a brilliantly targeted insult, more true today than when Donald Horne created it in 1964. "Australia is a lucky country run mainly by second rate people who share its luck. It lives on other people's ideas, and, although its ordinary people are adaptable, most of its leaders (in all fields) so lack curiosity about the events that surround them that they are often taken by surprise." This situation is a direct result of decades of neoliberal government.
I am thrilled beyond belief to see another Aussie talk about Donald Horne 🤠 🇦🇺 🎉 sadly enough, I got so sick of my stupid fellow countrymen & women that I left for good.
I have told my 2 son's to get out of Australia while they still can. After Cvd I realised that if they lock us down ( for whatever reason) there is nowhere to escape to, we are an island surrounded by shark infested waters! Thing is, is there any safe country to flee to? This NWO stuff is global. 😢
@@krugmeup2162 basically australia is run by a bunch of communists disguised as socialists and call themselves “neo liberal”. Give it 10yrs it’ll become blatantly apparent
Get rid of foreign investors, only Australian citizens or permanent residents whose main residence is in Australia should be able to buy house and land in Australia. Limit negative gearing to one investment property only, and the Australian dream may return to reality for our young people starting out. The current situation is unattainable and is creating poor mental health in our young people. Discuss…
"Only Australian citizens should be able to buy house and land" you mean, Aborigines are only Australian citizens, the rest are immigrants and your ancestors aswell.
That will not make any difference. Foreign investors make up less than 1% of home ownership in this country and most of their investments are concentrated in luxury housing that are mostly out of reach for the majority of Aussies anyway.
I don’t know where you got the figure of 1% from my friend, but that’s a gross underestimation. However, along with limiting negative gearing for one investment property only, this would make a big difference for young people trying to get into their first home. The current situation is putting so much strain on our young people starting out in life in this country. Young people are losing hope, and this is creating a mental health crisis amongst our younger generation. The Australian dream is dead for them…
@@deco5159 The data is everywhere, doing a little bit of research instead of listening to the media all day will tell you those figures are accurate. The current situation was created and voted by the same people who had benefited from negative gearing over the last 30+ years... We only have ourselves to blame.
Australia could have been a self sustaining paradise many years ago but government wanted foreign investment riches and mass migration for band aide fixes.
Yes. I've left Australia and moved to Phnom Penh, Cambodia where I bought a condo outright, with no mortgage. Better weather, culture, food, cost of living. People are friendly, country is really safe and the health system very modern.
@Cake... 👍Interesting! I'm in the Philippines and might check out Phnom Penh. Never been there before. Small town Philippines is great when you're an old pensioner like me, but foreigners are not permitted to own landed property, just condos. One main benefit is most Filipinos can speak English. Also, low costs. I'm paying about AUD$160 per MONTH for a nice 2brm apartment, unfurnished but still better than my previous pokey room in a share house in Brissie!
@@robvanduren761 Just wait. Cambodia is just following the same path. Excessive wealth leads to decline. The guy describes exactly one of the factors that ruined Australia's housing market -- foreign property buyers.
Thats what happens when Politicians become beholden to donations. they arent concerned about helping folk anymore, they are concerned about surviving the election cycle.
If I had $360k I would invest $100k in tech & $260k into dividend stock with a proven track record to grow with capital appreciation & dividend increase year over year
Adding JEPI and JEPQ are smart additions in my opinion. As for staying committed to higher-risk investments, it's all about balancing your risk tolerance with your long-term goals.
The market is not necessarily a rollercoaster if you know your way around the market, there are various opportunities in the present market to accrue good profit, If you are not too savvy with the market, just buy and hold on strong companies with good earnings, or consult with advisors on ETFs and actively managed funds. that’s what works for my spouse and I. We've made over 30% capital growth minus dividends.
How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?
She goes by "Sophia Irene Powell " I suggest you look her up. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did.
Thanks for sharing. I searched her full name and found her website instantly. After reviewing her credentials and conducting due diligence, I reached out to her.
I've known of local couples who can't afford to buy a house at the huge prices that they're now going for. So they do an alternative. The whole extended family pools their money and buys an older home on a large block of land. They then demolish that home and build a much bigger one to house the whole extended family from grandparents to parents to children and grand children. No need to put the grandparents in a nursing home for there's always someone at home to look after them. By pooling their money they can easily afford to pay off the new home because every adult in the new larger home has a stake in it. I saw it back in the 70's when Italian extended families all lived under the one roof. Italian grandparents lived with the family until the day they died. There was none of this putting them in a nursing home for there was no need too as there was always someone at home to look after them. They didn't suffer loneliness for they were always a part of the family unit not an embarrassment to be shifted out of the way as soon as possible like it is in so many Anglo families.
Yeah it's better for everyone. Pooling is also how normal people can accumulate wealth generationally. Paying for everything individually, only investing individually with your own money, makes you all poorer. People need to drop the individualism because it's not only faulty socially and financially, but actually now a luxury from a different era.
Very true. Intelligent immigrant families are able to pull this off. Its been true in America for more than a century. People need to plan better but amassing wealth and comfort is still available to everyone if they plan their families and work smart for 30 or 40 years. There's enough in the larger pie for everyone that knows how to plan and work. Australia and the US are wide open economies for entrepreneurs and small businesses. Success is merely haggling over the price you have to pay. In America you show me someone that doesn't have anything and I'll show you someone that hasn't worked for anything.
@@skyworm8006 This only works if your family members have brains and are open to discussion and considering different ideas without letting emotions get in the way of critical thinking.
@hocuspocus9713 yep, you hit the nail on the head, without a strong and capable leader to make such decisions the concept of pooling is as realistic as all people banding together to stop poverty.
A lot of wealthy people from overseas seem to be at auctions and sink the hopes of the locals who cannot compete and the governments seem to not care. Its like they are owned by overseas interests.
It’s funny that you blamed on the investor rather than the government. In Singapore, all foreign investors need to pay extra and you are not allowed to open bank account if you are not citizen or PR. Don’t blamed the players but blamed the game
It would be interesting to obtain statistics of the per capita residential floor space in Australia. I suspect that it has grown with time despite the per capita residences possibly declining. Part of the supply problem is the “Mac mansion” trend.
1980 Average salary: $9,360 Average house price: $40,000 Percentage of salary to house price: 23.4% 2000 (Estimated) Average salary: Approximately $35,000 Average house price: Approximately $200,000 Percentage of salary to house price: Approximately 17.5% 2024 Average salary: $89,000 Average house price: $891,000 . Percentage of salary to house price: 10% Yep, we're doomed
Yep and that’s using the average! Median Sydney dwellings (inc units) as of November 2023 was $1.12m. Median salary was approx $70k/pa (Aug 2023, all NSW, so likely a bit more for Sydney). So yeah it’s pretty bad! Anywhere up to 20 years to save for a deposit!
Yeah there's no way you'll find a house for 891k in Sydney unfortunately, unless you look at rundown houses that need a lot of renovation or go far, far outside the city.
@@lanycera That's right. $891,000 represents the whole of Australia. Sydney alone would be around $1,600,000 and that's probably a bit on the low end really
And that is considering averages, which mean absolutely nothing when the top end holds all the money... 1 person making 500k against 10 making 50k will give you an over 90k average
To save enough for a house deposit in Sydney now takes 48 years! A guy I know rents an older house in inner city Melbourne (Fitzroy) and it sets him back $7000 a month! Housing costs are ridiculous in Australia sadly
Yes, trendy Fitzroy can be an expensive place. Of the 33 properties currently available for rent in Fitzroy, the highest asking rent is $6.5k a month, with 1/3rd of them under $2.5k a month.
The problem is not a shortage of supply. It is overwhelming demand from mass migration. Adding 1.2 million people in a year naturally enough requires more homes, hospitals, roads, electricity, schools etc. Who asked for this migration? None of Australia's citizens. Some corporations, farmers, real estate industry. The government is absolutely incompetent.
@@GelsonHalmenschlager Australians. The problem is that states are investing massively in infrastructure to keep up with the flood of migrants meaning that tradies are not available to build houses. Cut off the migration and that infrastructure demand goes away, then Aussies can build more houses.
This hits it on the head. I'm on 120k a year working multiple jobs almost 60 hours a week. And the maximum loan I can get is 400k. When the average house price is 1m. This country's fucked. My parents offered re financing their house to allow me to buy a house. But I refuse to let them because I would never be able to pay them off
@@user-ep3ck5re4osuper is not the answer either. 50 years ago a few hundred thousand dollars sounded like fortune, not so much today. Like today a few million sounds like a small fortune, in 50 years it would not be .
I have a disabled friend who is about to become homeless 😢 none of his people's can help, and the government won't. There are tent cities everywhere, most of them maimed in one way or another. This is Australia...
@@gardenpixie20 I'm aware of some in Caboolture and Ipswich. The fact that anyone in power can sleep at night knowing what they are doing to other human beings is sickening, and gives you an idea of who is leading us.
It's only going to be worse when you have a generation of people who couldn't get a mortgage until later in life or don't have a home at all, renting in their twilight years so more dependence on the pension. This will bite the government in the ass if they don't do something soon. Specifically in regards to housing affordability.
@@Gumardee_coins_and_banknotes Pensions are just enough to Starve on. It's called "Starvation by Attrition" to get rid of the useless eaters. Every Totalitarian Regime has done this.
for sure, living in a town north of Adelaide, can't afford rent, homeless, all the housing help services tell me to F/O. At least I have somewhere I can crash for a while, but its terrible to be in this situation. (I do have a income, just not enough to handle 2-3x inflation of costs of almost everything!)
It’s mass immigration, not available homes. Take the large number of people coming here out of the equation, houses would reduce in price and wages rise.
It's also the most generous tax incentives for property investors in the OECD. In regards to immigration (and Australia has the highest per capita immigration rate in the freakin world), because the right wing are so anti-imigration, we can't have a conversation about immigration levels without being branded a racist. I would note the right wing aren't so much anti-imigration, as anti any migrants that aren't exactly like them! Three-quarters of Australian voters want immigration levels substantially reduced or stopped. But the political duopoly in Australia want a "big Australia". Do you really think you live in a democracy in Australia? Do you really think the major political parties represent your views? Good luck.
Yeah, I love that our culture is a mix from all over the world. But with over 30% of current Aussies having been born overseas (1st generation), the obvious easy fix is to slow immigration until there's enough homes for those that are already here (unless they're builders, more the merrier!).
This is the end result of 30 years of mediocre governments, populated by mediocre politicians with no vision. Australia had better start to solve its various issues quickly or it will end up being at risk of becoming the “poor white trash of Asia” all over again. Lee Kwan Yew made this comment in 1980, just before the Hawke/Keating governments made the reforms that led to 30 years of economic growth. Unfortunately for the country, the risk adverse politicians we now have, are only a reflection to the population, which has its head stuck in the ground trying to ignore the reality of the situation. Tinkering around the edges of our various problems is not going to cut it any more and radical reform will come, along with the bitter medicine that has to be taken with it. The bottom line is that you can’t tell future generations that they can’t have a home of their own, this will lead to a breakdown of the social compact and the probable rise of populist politics/leaders.
Making it about race as soon as you can huh? Youre eager to share in white peoples success but when hard times come youre even quicker to bite the hand that feeds. Typical of your kind.
Hawke/Keating were a disgrace who ran-up debt and allowed rich people's rorts to get out of control. The "reforms" and "growth" did no good at all for ordinary people. It is mythology.
Fully agree. We should be thinking about solutions, and a risk averse government doesn't help. Investment instead of spending, temporarily limit migration, support building new industries, temporarily halt transition to green energy, renegotiate export agreements of raw minerals etc. Can be done.
I am Irish born and lived in Australia from 1988 to 2021 when I retired and began travelling to find a better place to live, Spain ticks all the boxes with the cost of living 107% less than Sydney, I still want to return to Sydney but rental opportunities are thin on the ground and costs way too much. Long gone are the Paul Keating’s who actually worked to make Australia a good place to live.
Spain being 100% less than Sydney, would mean everything is free, your 107% would actually mean getting paid to be there on top of having everything free...
At 57, I’ve had to move back with my pensioner parents. How embarrassing. I’ve supported myself since I was 17. I don’t drink, smoke, gamble or do drugs. I’m not a big shopper & I’m careful, if not a bit stingy & I can’t afford to rent where I live…Gold Coast. It is also partly because at this age, I haven’t been able to find full time work (yet), so I’ve been trying to live on a casual wage. Not possible.
Older people not being able to find jobs is indeed another major problem, and sadly not typically Australian. Sending you good vibes from across the globe mate, I hope you'll find a way to make it.
I saw this coming and cashed out a year ago. Now I live in Indonesia. Cost of living after housing is about $10,000 AUD this is living really well. Housing can be as low as $1,200 a year. I will not live in Australia again my quality of life is much much better. Do the research and live(:-)
Hey its pretty funny to me because when I talk to my Indonesia friend, she said house prices in Indonesia are ridiculous for her and ppl earning normal wages. You are only enjoying the preveilege because you earn AUD and live there. I think you probably won't even bother to learn local language. People like you sickens me everytime when I see ppl telling other online to go live in Southeast Asia with their western countries money lmao. Sounds kinda familar huh??
@@w87g8765 we employ 3 people constantly. We employ 6 more intermittently and all get paid well above the usual rate. Oh and I'm well on the way to conversation bahasa. Maybe you should try to be kind before insults? (:-)
@@w87g8765I agree with you it is so tough for the locals in South East Asia . These ex Aussies move to South East Asia but still earn money from Australia . I have no respect for those type of people !
@@w87g8765 some assumptions there re not learning the language but what your talking about is cause and effect similar thing happening in other parts of the world Baja California is a prime example so many US citizens have moved in there price of property increasing and on it goes.
In 1964, a brilliant Aussie named Donald Horne sadly wrote in his book, “Australia is a lucky country, run by half-rate people who share its luck”. 60 years later, his words ring truer than ever. the Australian Government just ordered 3000 refugee PR visas for Palestinians and intelligence agencies in Australia have increased the national threat level from ‘possible’ to ‘probable’. Australia celebrates mediocrity and has paid dearly for its backward attitude. I’m an Aussie who left home for good. I sure hope my homeland sees better days ahead.
What a snob he was. There's nothing "half-rate" about turning six remote, dry, infertile, undeveloped convict colonies into one of the world's best countries.
We were a penal colony once. We're closer to that now than a lucky country. But where do we go? America, Canada and the UK are experiencing their own difficulties.
As a 29 year old Australian I can confirm the housing crisis is OUT OF CONTROL. I’m very privileged to work in the construction industry under the union which will put me in a position to own a house in the next 5 years but most people my age will never come close to owning a property.
The biggest problem with housing IS NOT supply. The problem is almost exclusively DEMAND. When you firehose that many new migrants into major capital cities, where are they going to live? There's been a 40% increase in materials costs for housing since Covid. We also seem to have huge amounts of Indians pouring into the country who all want to drive Uber and think bricklaying is for untouchables, and yet they're all taking up the housing stock. Secondly we also subsidise property investors to allow them to reduce their taxable income when losing money on an investment property- meaning people are scrambling into the property market, speculating on real estate because it's state sponsored.
For those who wants do farming or have a remote job, consider Serbia. You can buy a liveable house there for less than 50k. It's a safe country, food is really good and people are friendly. The amazing thing is that if you buy ANY residential property here you get temporary residence and work permit immediately. And only after 3 years you can apply for citizenship. All the European countries are close, the climate is nice, soil is good for raising anything you want. It's not a rich country, but here is possible to enjoy every day of our short life.
Starting salary for jobs in my profession was about $60-65k per annum ten years ago, and now it's about $70k. It's barely grown. Meanwhile housing and most other expenses such as food and insurance has almost doubled in price.
How many houses in Sydney are empty? The market is kept high by creating artificial scarcity in available houses which stems from Howard turning homes into investments. Last part of vid was really good.
Yep, absolutely disgusting, I can't AFFORD to see a dentist let alone have children, I live in a tent because DV connect just wants my money and refuses to help me or consider my situation, I expect I'll die before I have a place to call home, about 10 year wait on social housing, those who died to protect us would be turning in their graves to see the garbage fire this once beautiful country has fallen to.
I'm a 63 year old Australian and can't afford to rent any more. Greed has taken over, that and corrupt government has made life hell. I'm now living in my van on a disability pension. Shame on the governments for the past two decades.
The long extended and over the top authoritarian covid lockdowns made things much worse. Australian politicians went mad with power and our states and territories acted like hostile independent countries. After it was finally over, inflation went through the roof, compounding the problems that already existed. Now as I travel around Australia, I see so many poor people living in tents and sleeping on the streets. I never thought I would see my wealthy country in such a mess, but it's reality and our politicians (local, state and federal) continue to bring in new laws and regulations that drive up the cost of living, even more. They are truely incompetent and we are vastly over governed.
Too many people, not enough housing, too many incentives for property investors to sit on empty houses, construction companies collapsing left and right, COVID making supply of building materials difficult. Many factors that all came together at once to screw us over.
@@ardi08 Too many people for the infrastructure we currently have. We have plenty of space, but there's no point putting people there if there's no power/water/housing for them there.
I work full time and have been investing in non australian assets in order to propel myself out of the country. My folks are absolutely livid that I'm not trying to hop onto the inflated property market.
I own my property, just don’t own the overpriced and poor quality rubbish in Australia, not to mention that any level of government in Australia can take it off you , had it done once , never again
I was born in Australia and have lived here my whole life. The country I live in now is not the country I grew up in through the 80s and 90s. Maybe it never was? There was always such an underdog culture of the little guy fighting back against big corporate greed. Nowadays that narrative has completely flipped and obscene greed and selfishness is seen as smart and successful. I think the laid-back, apathetic attitude most Australians have has allowed narcissism to flourish. People have no idea how bad things are getting. We haven't just turned housing into an investment portfolio we've done it to our food security as well. Two supermarkets control 90% of the market and are more concerned with increasing profits for shareholders than anything else. They cut back resources to the point stores can't even function, they undercut producers and overcharge consumers, they buy up land so that competition can't start up. It's absolutely cooked but it works because people keep lining up to hand over their money. They'll moan and complain about service as they're tapping their debit cards at the checkout and they'll be back in next week to do it all over again.
Same here , most of my family are thankfully out of Australia and I’m looking to help the last of them , especially since Australia doesn’t really have safe healthcare anymore
@@Benjamin-howdytigerso you're just making Bali more expensive for the locals. Would love to know what they say in Balinese about you behind your back.
All sorts of other things have exacerbated this. - Real estate agents were totally deregulated in all but name in the early 2000s - Real estate agents now own most storage units and charge staggering amounts for storage. Renters constantly get hit by unseen costs that all seem to flow money back to the real estate industry. Add this to you may have to move every lease as house values skyrocket and unaffordable rents go up to match them and then you find yourself being hit by cleaning, storage, movers or truck rental, short term rent and travel costs and you can see why so many people end up living in tents. Once the renters go under there's no getting back and heaven help you if you lose access to a car.
That's true and I would add that many of those Real Estate Agents, later on, became politicians and when you look at the policies the government has been pushing in the last 20 years, those policies mostly favor property developers. Remenber when the GFC in 2009, the Government started to Offer 20K for First Home Buyers, well, the developers put the prices up by 50K. If the Australian government wants to fix this crisis, it will build more affordable housing for people in big cities, but instead, they rely on the Private sector which is pretty much as you said unregulated.
For all its current issues, to say living in Australia is absurd is beyond ridiculous this place is literally paradise and has a an attitude toward life like no other I spent the first 24 yrs of my life living in UK and every morning I was up here and drive to the ocean pool with the sun on my face I feel thankful I am here
1:55 in and this video is already ignoring the problem. "Shortage of supply". Australia builds the highest amount of new houses per capita globally. It's a demand issue, not supply.
@@hamesparde9888 its no accident, import people from the third world and the expectations of what the cost of living, government and services provide dramatically lowers. we get less and the government get away with diluting our country into a neo feudal system all while funding the housing ponzy market.
Why are we building McMansions when there is supposed to be a shortage of building materials? Mostly only 2 or 3 people live in them. They contain enough building material to build 2 houses instead of 1.
Its the mc junk food mentality. We want more house for less they are loaded with features (like the mc master suite deluxe with built ins.. that tap into the pleasure centers in our brain, the so-called dopamine reward pathway)
Just a note: Brisbane is now more expensive the Melbourne. But thanks for mentioning at the start that Australia is mostly arid, uninhabitable rubbish land and cannot support a huge population like Europe or Brazil or the United States. You should spend more time discussing energy price inflation in Australia ( around 30% per year). But this is still a great summary of the situation in Australia now. Housing is highly desirably for many reasons in Australia, but one is simply because it isn't included in the assets test for welfare entitlements. You can get a full pension is you own a 5 million dollar house mansion on the coast or a river, but won't get a cent if you have 1 million in a bank or in shares. Profoundly unfair. All politicians in Australia are #$%^. All they care about is helping the affluent (those who own multiple properties) become even richer. Democracy is plutocracy.
I'm sure some people have seen higher increases, but just to place some perspective, because it's also affecting rent, my rent in 2020 was $330aud a week and now in 2024 it's sitting at $520 a week. It's a small 3 bed one bath in an outer suburb of Ipswich. I make about $900 a week and more than half my paycheck goes straight into rent and that's before all my other bills and expenses are taken into account. That I can be making nearly a grand a week and still basically be in the red every week is fucking insane.
There's so many empty houses or plots of land where I live in the city, they should be rented, sold or built on. Not sitting idle for accumulating wealth.
Accurate. Anyone moving here now is playing life on 'Nightmare' mode - be prepared to work 60 hours a week for 30 years so you ca own a nice house and car. And you won't get any grandchildren because your kids won't be buying a house before they turn 40.
Politicians obsessed with social issues, oppressed minorities, misinformation…….we have taken our eyes off the ball and wonder why productivity is down. Governments need to get back to basics and have some vision to bring us out of this mess. Just one error of fact that often gets repeated and needs to be corrected. Howard didn’t cut tax cuts on capital gains - in fact capital gains were untaxed until the 1980’s. Later they were taxed at profits above the inflation rate, then for simplicity it was on 50% of the raw gain which tends to equate to about the same as the former.
Oppressed minorities are not the problem though, they are Aussies too.Only the politicians use them as a diversion from fixing problems corruption, destroying Australian industries (other than gambling) and selling public assets and resources to foreigners has caused.
Another thing of note, with the list of 10 most expensive cities in the world and 3 of them being Australians. Other cities on that list their countries has cheaper cities offering wide range for differing economic situations, or even within those cities itself there are cheaper parts and it is specific neighbourhoods that are gathering points for high net worths which pulls the average up. In Australia, those 3 cities makes up half of the country's entire population and the other cities in the country are not far behind in their costs. Effectively the entire country is expensive to live in, those 3 cities are not that abnormally expensive compared to the rest of the country.
Exactly what I was thinking. If you're an American in LA, there are tons of states and cities you can move to that are affordable, good to live in and with many options for work. If you're an Aussie, you have nowhere to go.
As a 31y/o and about to buy my first house, my wife and I have spent years trying to save and only just have a 5% deposit. We have to buy in a country town rather than in Brisbane where we have lived for almost 10 years. Our household income is now $200k per year and still we feel the squeeze trying balance a quality of life and affording a house
I moved to 7 different cities and towns since 2016. Changed careers 4 times, which included a small business which struggled due to stupid red tape regulations. For those who want to move to Australia for the "good" life, prepare to be stressed.
A country run by convicts . Politician day time robbery to its citizens! No wonder many are leaving the country! Everything is not affordable anymore its outrages! Cost of living is WAY too expensive! I was lucky enough to get early in the house market. Kids these days will need to live with parents 40y old before they can purchase a house in Sydney!
Australia's growth is slowing because workers are getting fed up with being given a raw deal with little opportunity to enact change - housing too high, likelihood of promotion too low, and they're "quiet quitting".
In my street there’s 6 houses. 4 are empty. One of those is condemned. One is owned by a Chinese family that use it as a vegetable garden every three weeks and the other two are up for rent nobody can afford.
Australia is in a ridiculous housing bubble. See all the investment house idiots cry when it collapses soon. There are several failures here attributed to mainly the national government; over-immigration, under funding public housing, rural depopulation and small town services starving (by private enterprise like banks as well as the government), oppertunistic house buying by foreign nationals (where the governments should only allow freeholder title to foreign nationals to commercial and industrial properties) and so on.
Rural depopulation??? Rural towns like the one im from are sitting from 0.5-1% availability for housing, they're bursting at the seems ever since 2021. It got worse when the government started flooding the cities with Indians and Aussies escaped to Rural towns to get away from all the Indians.
You're so accurate and well informed, I'm going to link this video in the description of one of the videos on my fledgling channel. It's so hard to live here, let alone try to produce anything and get something self-sufficient off the ground. Relentless government corruption conspiring with unchecked corporate greed has changed the country I loved into one I feel like I need to leave before they find a way to tax that too. At least maybe if enough of us flee to other parts of the world, there might be some homes left for those that remain. How long before "Australian economic refugee" becomes common parlance?
Negative gearing is not a factor. Has been in place for Decades when prices weren’t going anywhere. Sole factor is immigration which is the highest in the western world. Halt immigration and house prices will stagnate.
IKR! People are so stupid. It's literally supply and demand. I mean what do people think when the PM talks about a supply issue, while overseeing a massive increase in the already way too high immigration numbers?
Halt immigration and watch your capacity to pay for affordable housing vanish. If the solution was so easy as to just stop people from coming in we would have done it long ago.
It's kind of crazy because the cost of living has absolutely skyrocketed, rent is unaffordable, and the average wage can't keep up. The discrepancy between the rich and the working class is getting almost as large as the US which has overall a worse social environment. As a wedding photographer I can charge almost double in Europe and triple in the US, while the cost of living is essentially cheaper than Sydney. No reason to stay here and can't even imagine what it's like for people who don't earn well or have more mouths to feed.
A 3 bedroom, 1 bathroom and 2 car garage house on a 500sqm block near me just sold for $1.2M - No air-conditioning, no solar, no water tanks, no views not even a garden. Pre-covid that house was $400k!!
How to.solve supply issue. Stop people from owning more than 3 houses. Only be able to negative gear on 1 investment property. Get rid of Stamp duty and capital gains for first home owners. Dont allow properties to remain vacant for more than 12 months.
I reckon we should just start doing that now, my mate almost lost a house to a foreign investor coz they offered 50k more. The agent luckily wanted the deal done quickly
the only people who are in general employment that are okay 1.POLITICIANS 2.Beauracrats 3 PUBLIC SERVANTS 4 BANKERS AND CEO'S "All the rest just be happy "that you dont have to work in these crap enviroments
I had a neg geared property for many years.. When I sold it my tax bill was $180,000 ..so the govt got far more back than what I saved on my tax over the years, This is rarely mentioned
@@glens0r I wish. Nothing like that .If you take inflation into account the profit was modest and costs of keeping the property were fairly high. Plus delinquent tenants etc. My situation would be fairly normal for small time investors
@johnpro2847 So true mate. The tax incentives only slightly help the rich middle class. Gina Rinehart is making not making her immense wealth in the property sector through negative gearing. We should have a tax on luxury houses. 10% would be good it can go to helping the poor get into housing.
I feel anywhere in the so called developed world is totally unaffordable... including New Zealand, Ireland, England... nearly everyone out there will highlight cost of living pressures...
Noostraders is right. It's only the five eyes "american dollar" countries. UK, canada, Australia, new Zealand and United States has it economically better but they have their own set of multi diverse problems
Yes , much of Asia offers a really good quality of life these days, my gp in Australia actually told me that if you get sick try to go to either Singapore or Malaysia for care , his hospital care in Australia matched my families, never again
Capital Gains Tax discount, and negative gearing tax reducing strategies, ultimately makes it easier for an investor to get a bigger loan than a first home buyer or owner occupier.
I live in an old house in a great suburb in Melbourne, I probably pay $200 a week rent less than anyone else in the area. Mid next year I'll be leaving Melbourne and not coming back. It's too expensive to live and you can't drive anywhere due to roadworks.
The funniest thing is Australia by rights should be an affordable, ecnomic and energy producing powerhouse of a country. But corrupt/self serving (or foreign serving) politicians putting in bad policy for short term gains only for those who stand to benefit and to appease foreign interests (primarily Coalition as they are in power majority of the time until their decisions catch up with them and everything is shit and a decade turnover to Labor happens, who then somehow cop the blame for a decade of decline - countries can't turn course in a few short years), lack of corporate competition across industries, zero manufacturing so ecnonmic diversity is non-existent and other factors is damning Australia right now. Its unaffordable, and just about ready to buckle and collapse.
I paid 360,000 AUD for my house in Brisbane in 2022. It was just valued at 1.2 million AUD, obscene. This is the fault of the Federal Government's migration policy. I'm all for immigration, but we couldn't cope with 300,000 more people per year over the past 10 years and now we are paying for it. I worked with a South African we bought 6 houses in Brisbane and a Kiwi Manager who owned 12 houses, is this fair ?
Dick Smith solved this problem over 10 years ago, but nobody listened. He said that immigration needed to stop for just 2 years to get us back on track. But the Australian government in all their wisdom increased immigration.
@4:10 the chart says Average full-time earnings in year 2015 is nearly $200,000. Either something wrong with the chart (or my interpretation of it) or I the poorest person in Australia. I earn half as much in 2024.
The biggest problem for housing is the extremely high immigration numbers. Successive government have high immigrant policy to artificially prop up the economy.
Why is it that by the time I’ll be an adult this country will be unliveable. And there’s essentially nothing I can do about it while a girl who said “hawk tuah” while drunk is now set for life?
Despite saying the government has under invested in homes, we still have one of the highest rates of home building in the world, as indicated by the far higher ratio of cranes per head of population. But when you bring in almost 1,000,000 people in a couple of years to a country with only 25 or 26 million, there's no way you can ever keep up.
@@Ok-cr8cb Refugee Visas, specifically the sub class 200 refugee Visa where people have gone through the proper refugee system through the international community, is permanent. There’s a sub class for people who apply for protection after arriving, which are very often dodgy and need to be investigated from scratch on the Australian taxpayers dime, is a temporary protection Visa sub class 785. Once the war or whatever it is in their country is over, the people holding the temporary type should go home and they should be primed to go home. Don't get too comfortable fellas.There’s over a quarter of a million people here on temporary student visas, about 17% of all the international students IN THE ENTIRE WORLD are in Australia which is ridiculous…and the only people benefiting from them being here are the university board members. Once a temporary skilled employment or working holiday Visa expires, there should be no controversy in saying that they should go straight home.
Governments don't "invest" in housing. They regulate housing. Bit of a difference in those concepts. Also, negative gearing was introduced in 1936. Sounds like research on this video is a bit lacking.
We used to innovate at the CSIRO but consecutive governments have gutted our science sector. Australia is a first world country with a third world economy as we are all about exporting animals, minerals and education.
It sounds pretty much the same as the situation in Britain. Governments could prevent speculators from bulk buying if they wanted to, but then they’d be accused of being socialist. Can’t have that, can we?
@@JayzVeez Like what? Don't even try to sell socialism/communism, they simply don't work (i was born in the communist country myself). So... what's your advice?
Shortage of housing supply isn't the main issue. The main issue is there is too much demand driven by negative gearing policies and too much red tape to get anything approved in this country. There are plenty of developing and developed countries out there that don't have a housing crisis with the same or lower number of dwellings per 1000 people as this country... Greed and nimbyism is the ultimate cause, there are over a million homes in this country that are sitting vacant at any given time. This is what happens when a government incentivises people to buy housing as a for profit financial investment.
Negative gearing adds to demand to purchase housing for investment but does not explain high rents. There is a shortage of housing - caused by government - which causes high rents. Negative gearing haters are barking up the wrong tree.
About to turn 21 don’t think I’ll own a house until I’m at least 25 and I have almost 30k saved for a deposit but the pricing and repayments are just way above my earning capacity and not attainable
You're literally case and point. 21 and thinking about a deposit for a house instead of starting a business. Even when Australia has already had its run in real estate and its clearly out of reach for most, as well as a bad deal.
While this is happening, Melbourne is building a tunnel called "the metro tunnel" and i dont see how its useful at all. it also added 1 billion dollars to our debt
Have you been anywhere else recently? We’ve not had a housing policy since the nineteen fifties combined with our American planning system and no public transport
The average house in Sydney was $300,000 in 2000. Now it’s 1.2 million in 2024. 4x in 20 some years. And average wages hasn’t gone 4 times in those years.
Anywhere within 7km of Sydney average house is now prices 2.5 million AUD and in any decent suburbs houses cost way above 3 million, some 15 million
Blame the millions of immigrants over the last 20 years. Blame the lower interest rates and blame the GST.
@thegreatpyramidrevelations Let's say your house could go for 5 million, but you sell it for 2 million. Effectively means you just gave a 2 million gift to some rich guy. Nobody sensible in any country is gonna do that.
Not warping the market towards property investment is probably smarter than just hoping everyone's gonna start giving each other gifts worth millions or hundreds of thousands.
@@buildingthegreatpyramid Pointless to blame individuals, you would do exactly the same thing. If someone came along and offered you a massive number for your house, and someone offered you a lower number, I bet you would take the higher number.
I think it is 2.5 million dollar in Sydney
"The lucky country" was not a compliment - it was a brilliantly targeted insult, more true today than when Donald Horne created it in 1964. "Australia is a lucky country run mainly by second rate people who share its luck. It lives on other people's ideas, and, although its ordinary people are adaptable, most of its leaders (in all fields) so lack curiosity about the events that surround them that they are often taken by surprise."
This situation is a direct result of decades of neoliberal government.
I am thrilled beyond belief to see another Aussie talk about Donald Horne 🤠 🇦🇺 🎉 sadly enough, I got so sick of my stupid fellow countrymen & women that I left for good.
I am Australian and I approve this message.
I have told my 2 son's to get out of Australia while they still can. After Cvd I realised that if they lock us down ( for whatever reason) there is nowhere to escape to, we are an island surrounded by shark infested waters!
Thing is, is there any safe country to flee to? This NWO stuff is global. 😢
Neo liberal ? What do you mean by that label?
@@krugmeup2162 basically australia is run by a bunch of communists disguised as socialists and call themselves “neo liberal”. Give it 10yrs it’ll become blatantly apparent
Australia isn't the Australia i loved, knew or grew up in anymore.
Feels just like prison tbh
Aussies seem to be mean-hearted small people now.
At least you get fed and housed in prison
@@James-j1t7e definitely, the Australia I see now is a joke.
PREACH!! It was SO much better in the 90s before Johnny Coward got in as PM!
Get rid of foreign investors, only Australian citizens or permanent residents whose main residence is in Australia should be able to buy house and land in Australia. Limit negative gearing to one investment property only, and the Australian dream may return to reality for our young people starting out. The current situation is unattainable and is creating poor mental health in our young people. Discuss…
"Only Australian citizens should be able to buy house and land" you mean, Aborigines are only Australian citizens, the rest are immigrants and your ancestors aswell.
That dream will never return. Australian Govts have completely fucked over current and future generations.
That will not make any difference. Foreign investors make up less than 1% of home ownership in this country and most of their investments are concentrated in luxury housing that are mostly out of reach for the majority of Aussies anyway.
I don’t know where you got the figure of 1% from my friend, but that’s a gross underestimation. However, along with limiting negative gearing for one investment property only, this would make a big difference for young people trying to get into their first home. The current situation is putting so much strain on our young people starting out in life in this country. Young people are losing hope, and this is creating a mental health crisis amongst our younger generation. The Australian dream is dead for them…
@@deco5159 The data is everywhere, doing a little bit of research instead of listening to the media all day will tell you those figures are accurate. The current situation was created and voted by the same people who had benefited from negative gearing over the last 30+ years... We only have ourselves to blame.
Australia could have been a self sustaining paradise many years ago but government wanted foreign investment riches and mass migration for band aide fixes.
@@xshadowscreamx they completely ruined it
yeah no one mentions the 800k immigrants a year
And failed to properly tax resources companies.
@ we all know this is a my reason and we never wanted them
@@MistaMickle that's because that isn't a real figure. You don't need to exaggerate to make your point, it is high without artificial inflation.
Yes. I've left Australia and moved to Phnom Penh, Cambodia where I bought a condo outright, with no mortgage. Better weather, culture, food, cost of living. People are friendly, country is really safe and the health system very modern.
@Cake... 👍Interesting! I'm in the Philippines and might check out Phnom Penh. Never been there before.
Small town Philippines is great when you're an old pensioner like me, but foreigners are not permitted to own landed property, just condos.
One main benefit is most Filipinos can speak English.
Also, low costs. I'm paying about AUD$160 per MONTH for a nice 2brm apartment, unfurnished but still better than my previous pokey room in a share house in Brissie!
You are very wise. Its an amazing event that Cambodia was considered a third world country and now its better than the so called developed countries.
@@robvanduren761 Just wait. Cambodia is just following the same path. Excessive wealth leads to decline.
The guy describes exactly one of the factors that ruined Australia's housing market -- foreign property buyers.
Nice mate I’m over in Thailand
@@MJY3692
Whereabouts in Thailand?
Have you retired there? Like it?
The fact that over half the country is struggling and politicians still aren’t doing anything is crazzzyyyy
Believe me they’re doing a lot - the problem is that what they’re doing a lot of, is accepting donations from the 1% to keep them at the 1%
Thats what happens when Politicians become beholden to donations. they arent concerned about helping folk anymore, they are concerned about surviving the election cycle.
@snooperty there doing nothing. Stop talking out your ass
The government is doing exactly what its doners are paying them to do.
@@seanmcmahon8976 more than half mate my guess 60 percent are struggling especially if your single and older
If I had $360k I would invest $100k in tech & $260k into dividend stock with a proven track record to grow with capital appreciation & dividend increase year over year
Adding JEPI and JEPQ are smart additions in my opinion. As for staying committed to higher-risk investments, it's all about balancing your risk tolerance with your long-term goals.
The market is not necessarily a rollercoaster if you know your way around the market, there are various opportunities in the present market to accrue good profit, If you are not too savvy with the market, just buy and hold on strong companies with good earnings, or consult with advisors on ETFs and actively managed funds. that’s what works for my spouse and I. We've made over 30% capital growth minus dividends.
How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?
She goes by "Sophia Irene Powell " I suggest you look her up. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did.
Thanks for sharing. I searched her full name and found her website instantly. After reviewing her credentials and conducting due diligence, I reached out to her.
I've known of local couples who can't afford to buy a house at the huge prices that they're now going for. So they do an alternative. The whole extended family pools their money and buys an older home on a large block of land. They then demolish that home and build a much bigger one to house the whole extended family from grandparents to parents to children and grand children. No need to put the grandparents in a nursing home for there's always someone at home to look after them. By pooling their money they can easily afford to pay off the new home because every adult in the new larger home has a stake in it. I saw it back in the 70's when Italian extended families all lived under the one roof. Italian grandparents lived with the family until the day they died. There was none of this putting them in a nursing home for there was no need too as there was always someone at home to look after them. They didn't suffer loneliness for they were always a part of the family unit not an embarrassment to be shifted out of the way as soon as possible like it is in so many Anglo families.
Yeah it's better for everyone. Pooling is also how normal people can accumulate wealth generationally. Paying for everything individually, only investing individually with your own money, makes you all poorer. People need to drop the individualism because it's not only faulty socially and financially, but actually now a luxury from a different era.
@@skyworm8006 tell boomers that.
Very true. Intelligent immigrant families are able to pull this off. Its been true in America for more than a century. People need to plan better but amassing wealth and comfort is still available to everyone if they plan their families and work smart for 30 or 40 years. There's enough in the larger pie for everyone that knows how to plan and work. Australia and the US are wide open economies for entrepreneurs and small businesses. Success is merely haggling over the price you have to pay. In America you show me someone that doesn't have anything and I'll show you someone that hasn't worked for anything.
@@skyworm8006 This only works if your family members have brains and are open to discussion and considering different ideas without letting emotions get in the way of critical thinking.
@hocuspocus9713 yep, you hit the nail on the head, without a strong and capable leader to make such decisions the concept of pooling is as realistic as all people banding together to stop poverty.
A lot of wealthy people from overseas seem to be at auctions and sink the hopes of the locals who cannot compete and the governments seem to not care. Its like they are owned by overseas interests.
Hi Bigot.
It’s funny that you blamed on the investor rather than the government.
In Singapore, all foreign investors need to pay extra and you are not allowed to open bank account if you are not citizen or PR.
Don’t blamed the players but blamed the game
@@hypebeastreetthe government (who I voted against) brought in too many people …
Australian Gov is owned alright.
By the WEF
thats horrible. Or they are on the phone
Australia is the now the most expensive place in the world to live. If you take into account population per capita.
What is population per capita? Is that like miles per kilometer?
@@DiscoFang xD
@@DiscoFang 🤣
It would be interesting to obtain statistics of the per capita residential floor space in Australia. I suspect that it has grown with time despite the per capita residences possibly declining. Part of the supply problem is the “Mac mansion” trend.
@@johngraham245It’s grown everywhere hasn’t it? Not just macmansions but the trend to solo living and reduced sharing.
1980
Average salary: $9,360
Average house price: $40,000
Percentage of salary to house price: 23.4%
2000 (Estimated)
Average salary: Approximately $35,000 Average house price: Approximately $200,000
Percentage of salary to house price: Approximately 17.5%
2024
Average salary: $89,000
Average house price: $891,000 . Percentage of salary to house price: 10%
Yep, we're doomed
Yep and that’s using the average! Median Sydney dwellings (inc units) as of November 2023 was $1.12m. Median salary was approx $70k/pa (Aug 2023, all NSW, so likely a bit more for Sydney). So yeah it’s pretty bad! Anywhere up to 20 years to save for a deposit!
@@ThePenguinface it's ridiculous!
Yeah there's no way you'll find a house for 891k in Sydney unfortunately, unless you look at rundown houses that need a lot of renovation or go far, far outside the city.
@@lanycera That's right. $891,000 represents the whole of Australia. Sydney alone would be around $1,600,000 and that's probably a bit on the low end really
And that is considering averages, which mean absolutely nothing when the top end holds all the money...
1 person making 500k against 10 making 50k will give you an over 90k average
To save enough for a house deposit in Sydney now takes 48 years! A guy I know rents an older house in inner city Melbourne (Fitzroy) and it sets him back $7000 a month! Housing costs are ridiculous in Australia sadly
he must have a good job,, best he buy a unit out of town a bit .he could easily afford it at that rent amount
Why does he spend that much a month on rent? That's just ridiculous.
That’s just nonsense. Which pub did you meet this guy in, and how late was it?
If it takes 48 years to save a deposit, how is there even a property market? More like 48 months.
Yes, trendy Fitzroy can be an expensive place. Of the 33 properties currently available for rent in Fitzroy, the highest asking rent is $6.5k a month, with 1/3rd of them under $2.5k a month.
The problem is not a shortage of supply. It is overwhelming demand from mass migration. Adding 1.2 million people in a year naturally enough requires more homes, hospitals, roads, electricity, schools etc. Who asked for this migration? None of Australia's citizens. Some corporations, farmers, real estate industry. The government is absolutely incompetent.
Not to mention whenever anyone suggests that we stop doing that, they get labelled "RaCiSt"
Excess demand. Yep.
But who builds the houses mate?
@@GelsonHalmenschlager Australians. The problem is that states are investing massively in infrastructure to keep up with the flood of migrants meaning that tradies are not available to build houses. Cut off the migration and that infrastructure demand goes away, then Aussies can build more houses.
@@keepitreal2902 and why the government is taking so many immigrants?
This hits it on the head.
I'm on 120k a year working multiple jobs almost 60 hours a week. And the maximum loan I can get is 400k. When the average house price is 1m.
This country's fucked. My parents offered re financing their house to allow me to buy a house. But I refuse to let them because I would never be able to pay them off
Your metrics says it all - put your money in super and rent - even renting is challenging - my advice - pack up and move to SE Asia
@@user-ep3ck5re4osuper is not the answer either.
50 years ago a few hundred thousand dollars sounded like fortune, not so much today.
Like today a few million sounds like a small fortune, in 50 years it would not be .
Not wrong, it's out of control. The politicians have fucked it by bringing to many people in
Live with them, or in their backyard ( caravan, done up shed ) bank the rent
Get out of the city and buy a good house for 400k
I have a disabled friend who is about to become homeless 😢 none of his people's can help, and the government won't. There are tent cities everywhere, most of them maimed in one way or another.
This is Australia...
Sleep outside the home of the local politician, insta home found
Tent city's where?
@@gardenpixie20 I'm aware of some in Caboolture and Ipswich. The fact that anyone in power can sleep at night knowing what they are doing to other human beings is sickening, and gives you an idea of who is leading us.
Just awful: it can happen to anyone!
Yes, rent is expensive, food also expensive, also petrol,
Pensioners having a hard time to get by.
Everything has gone up.
Pensioners always struggle as the money is just so they survive, not party.
It's only going to be worse when you have a generation of people who couldn't get a mortgage until later in life or don't have a home at all, renting in their twilight years so more dependence on the pension. This will bite the government in the ass if they don't do something soon. Specifically in regards to housing affordability.
@@Gumardee_coins_and_banknotes
Pensions are just enough to Starve on. It's called "Starvation by Attrition" to get rid of the useless eaters. Every Totalitarian Regime has done this.
Nah, pensioners are too busy throwing money away at the pokies in every pub and club.@@Gumardee_coins_and_banknotes
for sure, living in a town north of Adelaide, can't afford rent, homeless, all the housing help services tell me to F/O. At least I have somewhere I can crash for a while, but its terrible to be in this situation. (I do have a income, just not enough to handle 2-3x inflation of costs of almost everything!)
Keep voting for the Coles/Woolworths politics and you will get what you have always got!
It’s mass immigration, not available homes. Take the large number of people coming here out of the equation, houses would reduce in price and wages rise.
It's also the most generous tax incentives for property investors in the OECD.
In regards to immigration (and Australia has the highest per capita immigration rate in the freakin world), because the right wing are so anti-imigration, we can't have a conversation about immigration levels without being branded a racist. I would note the right wing aren't so much anti-imigration, as anti any migrants that aren't exactly like them!
Three-quarters of Australian voters want immigration levels substantially reduced or stopped.
But the political duopoly in Australia want a "big Australia".
Do you really think you live in a democracy in Australia? Do you really think the major political parties represent your views?
Good luck.
If you believe that you’re a fucking moron
@@andrewwright6898 nope, some know, but still vote for the same fools
They want wages to stay low, that's why they import cheap labour
Yeah, I love that our culture is a mix from all over the world.
But with over 30% of current Aussies having been born overseas (1st generation), the obvious easy fix is to slow immigration until there's enough homes for those that are already here (unless they're builders, more the merrier!).
This is the end result of 30 years of mediocre governments, populated by mediocre politicians with no vision. Australia had better start to solve its various issues quickly or it will end up being at risk of becoming the “poor white trash of Asia” all over again. Lee Kwan Yew made this comment in 1980, just before the Hawke/Keating governments made the reforms that led to 30 years of economic growth. Unfortunately for the country, the risk adverse politicians we now have, are only a reflection to the population, which has its head stuck in the ground trying to ignore the reality of the situation. Tinkering around the edges of our various problems is not going to cut it any more and radical reform will come, along with the bitter medicine that has to be taken with it. The bottom line is that you can’t tell future generations that they can’t have a home of their own, this will lead to a breakdown of the social compact and the probable rise of populist politics/leaders.
A government is only as competent as their people.
Making it about race as soon as you can huh? Youre eager to share in white peoples success but when hard times come youre even quicker to bite the hand that feeds. Typical of your kind.
Hawke/Keating were a disgrace who ran-up debt and allowed rich people's rorts to get out of control. The "reforms" and "growth" did no good at all for ordinary people. It is mythology.
Australia desperately needs its own Javier Milei or Donald Trump. It's the only way to reverse course our way out of this mess.
Fully agree. We should be thinking about solutions, and a risk averse government doesn't help.
Investment instead of spending, temporarily limit migration, support building new industries, temporarily halt transition to green energy, renegotiate export agreements of raw minerals etc.
Can be done.
I've seen houses in the middle of nowhere go for a quarter million MINIMUM, even if dilapidated! it's beyond insane!
I live in a country town and $300K gets you a piece of shit house made of asbestos from 1955.
I am Irish born and lived in Australia from 1988 to 2021 when I retired and began travelling to find a better place to live, Spain ticks all the boxes with the cost of living 107% less than Sydney, I still want to return to Sydney but rental opportunities are thin on the ground and costs way too much.
Long gone are the Paul Keating’s who actually worked to make Australia a good place to live.
Wow Spain pay you to live.
Great math lesson
Spain being 100% less than Sydney, would mean everything is free, your 107% would actually mean getting paid to be there on top of having everything free...
@@AdamSahr-cj4kf 😂
@@AdamSahr-cj4kf or what you pay $207 for in Aust would only cost you $100 in Spain, another way of looking at it.🙏🏻
@@michaelmarmion648 $100 is not 107% less than $207...
At 57, I’ve had to move back with my pensioner parents. How embarrassing. I’ve supported myself since I was 17. I don’t drink, smoke, gamble or do drugs. I’m not a big shopper & I’m careful, if not a bit stingy & I can’t afford to rent where I live…Gold Coast. It is also partly because at this age, I haven’t been able to find full time work (yet), so I’ve been trying to live on a casual wage. Not possible.
Older people not being able to find jobs is indeed another major problem, and sadly not typically Australian. Sending you good vibes from across the globe mate, I hope you'll find a way to make it.
I saw this coming and cashed out a year ago. Now I live in Indonesia. Cost of living after housing is about $10,000 AUD this is living really well. Housing can be as low as $1,200 a year.
I will not live in Australia again my quality of life is much much better.
Do the research and live(:-)
Well that's nice if you want to have a meaningless life of bludging off the third world
Hey its pretty funny to me because when I talk to my Indonesia friend, she said house prices in Indonesia are ridiculous for her and ppl earning normal wages. You are only enjoying the preveilege because you earn AUD and live there. I think you probably won't even bother to learn local language. People like you sickens me everytime when I see ppl telling other online to go live in Southeast Asia with their western countries money lmao. Sounds kinda familar huh??
@@w87g8765 we employ 3 people constantly. We employ 6 more intermittently and all get paid well above the usual rate. Oh and I'm well on the way to conversation bahasa. Maybe you should try to be kind before insults? (:-)
@@w87g8765I agree with you it is so tough for the locals in South East Asia . These ex Aussies move to South East Asia but still earn money from Australia . I have no respect for those type of people !
@@w87g8765 some assumptions there re not learning the language but what your talking about is cause and effect similar thing happening in other parts of the world Baja California is a prime example so many US citizens have moved in there price of property increasing and on it goes.
8 million people in 20 years increases prices for food, housing,medical care, and all other expenses for living in Australia. Too much migration.
In 1964, a brilliant Aussie named Donald Horne sadly wrote in his book, “Australia is a lucky country, run by half-rate people who share its luck”. 60 years later, his words ring truer than ever. the Australian Government just ordered 3000 refugee PR visas for Palestinians and intelligence agencies in Australia have increased the national threat level from ‘possible’ to ‘probable’. Australia celebrates mediocrity and has paid dearly for its backward attitude. I’m an Aussie who left home for good. I sure hope my homeland sees better days ahead.
Let's not even think about Sir Joh?
It's the banks, you dolt
What a snob he was. There's nothing "half-rate" about turning six remote, dry, infertile, undeveloped convict colonies into one of the world's best countries.
@@maddyg3208Australia with the vast resource can be much better. Not a run away house price.
Where did you go
We were a penal colony once. We're closer to that now than a lucky country. But where do we go? America, Canada and the UK are experiencing their own difficulties.
As a 29 year old Australian I can confirm the housing crisis is OUT OF CONTROL. I’m very privileged to work in the construction industry under the union which will put me in a position to own a house in the next 5 years but most people my age will never come close to owning a property.
The biggest problem with housing IS NOT supply. The problem is almost exclusively DEMAND. When you firehose that many new migrants into major capital cities, where are they going to live? There's been a 40% increase in materials costs for housing since Covid. We also seem to have huge amounts of Indians pouring into the country who all want to drive Uber and think bricklaying is for untouchables, and yet they're all taking up the housing stock.
Secondly we also subsidise property investors to allow them to reduce their taxable income when losing money on an investment property- meaning people are scrambling into the property market, speculating on real estate because it's state sponsored.
Seems like you have a grudge against Indians. Australia's immigrants don't just come from India.
The new batch of migrants love to buy houses.
Lovely racist comment buddy
@SandViper94Gaming yawn. Oh you called me a racist for stating facts. How heartbreaking... Cough.
@@ML6103 do better
For those who wants do farming or have a remote job, consider Serbia. You can buy a liveable house there for less than 50k. It's a safe country, food is really good and people are friendly. The amazing thing is that if you buy ANY residential property here you get temporary residence and work permit immediately. And only after 3 years you can apply for citizenship. All the European countries are close, the climate is nice, soil is good for raising anything you want. It's not a rich country, but here is possible to enjoy every day of our short life.
Starting salary for jobs in my profession was about $60-65k per annum ten years ago, and now it's about $70k. It's barely grown. Meanwhile housing and most other expenses such as food and insurance has almost doubled in price.
How many houses in Sydney are empty?
The market is kept high by creating artificial scarcity in available houses which stems from Howard turning homes into investments.
Last part of vid was really good.
Rich Dual citizens who use Australia as a back up plan in case things go bad in their home countries.
Yep, absolutely disgusting, I can't AFFORD to see a dentist let alone have children, I live in a tent because DV connect just wants my money and refuses to help me or consider my situation, I expect I'll die before I have a place to call home, about 10 year wait on social housing, those who died to protect us would be turning in their graves to see the garbage fire this once beautiful country has fallen to.
Stop relying on social housing and look after yourself..
@danielread8549 Damn Daniel, I hope you get to experience having nothing very soon! 🤓 maybe your grow a heart, inhuman filth ❤️.
@danielread8549 You are extremely emotionally deficient, get help you narcissist wanker.
@@danielread8549another tone deaf fool
I'm a 63 year old Australian and can't afford to rent any more. Greed has taken over, that and corrupt government has made life hell. I'm now living in my van on a disability pension. Shame on the governments for the past two decades.
Move to the United States 🇺🇸 mate.
Supply isn’t the problem. Swelling our relatively small population with millions of foreigners in is, most which move to Sydney and Melbourne
The air has changed here..everyone is frustrated and stressed and I can feel it in the air.
Thanks to corruption and right wing propaganda, the framing and lies of corporate Neo-liberal media also.
The long extended and over the top authoritarian covid lockdowns made things much worse. Australian politicians went mad with power and our states and territories acted like hostile independent countries. After it was finally over, inflation went through the roof, compounding the problems that already existed. Now as I travel around Australia, I see so many poor people living in tents and sleeping on the streets. I never thought I would see my wealthy country in such a mess, but it's reality and our politicians (local, state and federal) continue to bring in new laws and regulations that drive up the cost of living, even more. They are truely incompetent and we are vastly over governed.
Too many people, not enough housing, too many incentives for property investors to sit on empty houses, construction companies collapsing left and right, COVID making supply of building materials difficult. Many factors that all came together at once to screw us over.
Would you support appartment construction?
@Ok-cr8cb Yup, Australia (or at least WA) needs more vertical construction rather than making every property a subdivision
@ I think it’d be safe to say that not just WA needs more appartments; all of Australia does
Idk what you means by "too many people" when you have only less than 30 million people on 7.6 million km² of land.
@@ardi08 Too many people for the infrastructure we currently have. We have plenty of space, but there's no point putting people there if there's no power/water/housing for them there.
I work full time and have been investing in non australian assets in order to propel myself out of the country. My folks are absolutely livid that I'm not trying to hop onto the inflated property market.
I own my property, just don’t own the overpriced and poor quality rubbish in Australia, not to mention that any level of government in Australia can take it off you , had it done once , never again
I was born in Australia and have lived here my whole life. The country I live in now is not the country I grew up in through the 80s and 90s. Maybe it never was? There was always such an underdog culture of the little guy fighting back against big corporate greed. Nowadays that narrative has completely flipped and obscene greed and selfishness is seen as smart and successful. I think the laid-back, apathetic attitude most Australians have has allowed narcissism to flourish. People have no idea how bad things are getting. We haven't just turned housing into an investment portfolio we've done it to our food security as well. Two supermarkets control 90% of the market and are more concerned with increasing profits for shareholders than anything else. They cut back resources to the point stores can't even function, they undercut producers and overcharge consumers, they buy up land so that competition can't start up. It's absolutely cooked but it works because people keep lining up to hand over their money. They'll moan and complain about service as they're tapping their debit cards at the checkout and they'll be back in next week to do it all over again.
Exactly why I left Australia as an Austrian born citizen.
Where to?
Austria
Bali for me
Same here , most of my family are thankfully out of Australia and I’m looking to help the last of them , especially since Australia doesn’t really have safe healthcare anymore
@@Benjamin-howdytigerso you're just making Bali more expensive for the locals. Would love to know what they say in Balinese about you behind your back.
It's not just Australia that's rapidly declining, it's the entire West. I'm moving next year hopefully to South-East Asia, which is booming.
All sorts of other things have exacerbated this.
- Real estate agents were totally deregulated in all but name in the early 2000s
- Real estate agents now own most storage units and charge staggering amounts for storage.
Renters constantly get hit by unseen costs that all seem to flow money back to the real estate industry. Add this to you may have to move every lease as house values skyrocket and unaffordable rents go up to match them and then you find yourself being hit by cleaning, storage, movers or truck rental, short term rent and travel costs and you can see why so many people end up living in tents. Once the renters go under there's no getting back and heaven help you if you lose access to a car.
That's true and I would add that many of those Real Estate Agents, later on, became politicians and when you look at the policies the government has been pushing in the last 20 years, those policies mostly favor property developers. Remenber when the GFC in 2009, the Government started to Offer 20K for First Home Buyers, well, the developers put the prices up by 50K. If the Australian government wants to fix this crisis, it will build more affordable housing for people in big cities, but instead, they rely on the Private sector which is pretty much as you said unregulated.
For all its current issues, to say living in Australia is absurd is beyond ridiculous this place is literally paradise and has a an attitude toward life like no other I spent the first 24 yrs of my life living in UK and every morning I was up here and drive to the ocean pool with the sun on my face I feel thankful I am here
1:55 in and this video is already ignoring the problem. "Shortage of supply". Australia builds the highest amount of new houses per capita globally. It's a demand issue, not supply.
I know! I'm so sick of this argument. The government imported over 600,000 people this last financial year!
@@hamesparde9888 its no accident, import people from the third world and the expectations of what the cost of living, government and services provide dramatically lowers. we get less and the government get away with diluting our country into a neo feudal system all while funding the housing ponzy market.
The supply argument is run by the spruikers trying to control the narrative. In other words, look over here; don't look at the real problem (demand).
@@hamesparde9888 it's the biggest gaslight way of talking about the problem
@@CryptoKiwi and why Australia is bringing so many immigrants?
Why are we building McMansions when there is supposed to be a shortage of building materials? Mostly only 2 or 3 people live in them. They contain enough building material to build 2 houses instead of 1.
Its the mc junk food mentality. We want more house for less
they are loaded with features (like the mc master suite deluxe with built ins.. that tap into the pleasure centers in our brain, the so-called dopamine reward pathway)
Just a note: Brisbane is now more expensive the Melbourne. But thanks for mentioning at the start that Australia is mostly arid, uninhabitable rubbish land and cannot support a huge population like Europe or Brazil or the United States. You should spend more time discussing energy price inflation in Australia ( around 30% per year). But this is still a great summary of the situation in Australia now.
Housing is highly desirably for many reasons in Australia, but one is simply because it isn't included in the assets test for welfare entitlements. You can get a full pension is you own a 5 million dollar house mansion on the coast or a river, but won't get a cent if you have 1 million in a bank or in shares. Profoundly unfair. All politicians in Australia are #$%^. All they care about is helping the affluent (those who own multiple properties) become even richer. Democracy is plutocracy.
I'm sure some people have seen higher increases, but just to place some perspective, because it's also affecting rent, my rent in 2020 was $330aud a week and now in 2024 it's sitting at $520 a week.
It's a small 3 bed one bath in an outer suburb of Ipswich.
I make about $900 a week and more than half my paycheck goes straight into rent and that's before all my other bills and expenses are taken into account.
That I can be making nearly a grand a week and still basically be in the red every week is fucking insane.
There's so many empty houses or plots of land where I live in the city, they should be rented, sold or built on. Not sitting idle for accumulating wealth.
May l ask what area roughly?
Accurate. Anyone moving here now is playing life on 'Nightmare' mode - be prepared to work 60 hours a week for 30 years so you ca own a nice house and car. And you won't get any grandchildren because your kids won't be buying a house before they turn 40.
Too much red tape & bureaucracy which massively adds to building costs. Incompetent Govt with zero vision and self interest has not helped.
Politicians obsessed with social issues, oppressed minorities, misinformation…….we have taken our eyes off the ball and wonder why productivity is down. Governments need to get back to basics and have some vision to bring us out of this mess. Just one error of fact that often gets repeated and needs to be corrected. Howard didn’t cut tax cuts on capital gains - in fact capital gains were untaxed until the 1980’s. Later they were taxed at profits above the inflation rate, then for simplicity it was on 50% of the raw gain which tends to equate to about the same as the former.
Oppressed minorities are not the problem though, they are Aussies too.Only the politicians use them as a diversion from fixing problems corruption, destroying Australian industries (other than gambling) and selling public assets and resources to foreigners has caused.
Another thing of note, with the list of 10 most expensive cities in the world and 3 of them being Australians. Other cities on that list their countries has cheaper cities offering wide range for differing economic situations, or even within those cities itself there are cheaper parts and it is specific neighbourhoods that are gathering points for high net worths which pulls the average up. In Australia, those 3 cities makes up half of the country's entire population and the other cities in the country are not far behind in their costs. Effectively the entire country is expensive to live in, those 3 cities are not that abnormally expensive compared to the rest of the country.
Exactly what I was thinking. If you're an American in LA, there are tons of states and cities you can move to that are affordable, good to live in and with many options for work. If you're an Aussie, you have nowhere to go.
As a 31y/o and about to buy my first house, my wife and I have spent years trying to save and only just have a 5% deposit. We have to buy in a country town rather than in Brisbane where we have lived for almost 10 years. Our household income is now $200k per year and still we feel the squeeze trying balance a quality of life and affording a house
Rent a studio move OUT to Philippines Thailand and get remote jobs...
@@David-b9n2e Yeah because everyone can (ie. work) or wants to move, you muppet. And I say that as someone who can move.
0:15 it’s funny how it lists “Dampier” as a major city on the map…a town with 1,200 people haha
So confusing lol.
I moved to 7 different cities and towns since 2016. Changed careers 4 times, which included a small business which struggled due to stupid red tape regulations. For those who want to move to Australia for the "good" life, prepare to be stressed.
A country run by convicts . Politician day time robbery to its citizens! No wonder many are leaving the country! Everything is not affordable anymore its outrages! Cost of living is WAY too expensive! I was lucky enough to get early in the house market. Kids these days will need to live with parents 40y old before they can purchase a house in Sydney!
Australia's growth is slowing because workers are getting fed up with being given a raw deal with little opportunity to enact change - housing too high, likelihood of promotion too low, and they're "quiet quitting".
Actually, as of the 4th of Sept 2024, there has been six quarters of negative per capita growth, not the four quarters you stated.
Seven of the last eight quarters had negative gdp per capita results.
@@InfinitePlain Yes, I should have said six consecutive quarters, as opposed to his mentioned four consecutive quarters.
Haliluhjah, no depression. 🎉🎉🎉
In my street there’s 6 houses. 4 are empty. One of those is condemned. One is owned by a Chinese family that use it as a vegetable garden every three weeks and the other two are up for rent nobody can afford.
Australia is in a ridiculous housing bubble. See all the investment house idiots cry when it collapses soon. There are several failures here attributed to mainly the national government; over-immigration, under funding public housing, rural depopulation and small town services starving (by private enterprise like banks as well as the government), oppertunistic house buying by foreign nationals (where the governments should only allow freeholder title to foreign nationals to commercial and industrial properties) and so on.
Rural depopulation??? Rural towns like the one im from are sitting from 0.5-1% availability for housing, they're bursting at the seems ever since 2021. It got worse when the government started flooding the cities with Indians and Aussies escaped to Rural towns to get away from all the Indians.
You're so accurate and well informed, I'm going to link this video in the description of one of the videos on my fledgling channel. It's so hard to live here, let alone try to produce anything and get something self-sufficient off the ground. Relentless government corruption conspiring with unchecked corporate greed has changed the country I loved into one I feel like I need to leave before they find a way to tax that too. At least maybe if enough of us flee to other parts of the world, there might be some homes left for those that remain. How long before "Australian economic refugee" becomes common parlance?
Negative gearing is not a factor. Has been in place for Decades when prices weren’t going anywhere. Sole factor is immigration which is the highest in the western world. Halt immigration and house prices will stagnate.
IKR! People are so stupid. It's literally supply and demand. I mean what do people think when the PM talks about a supply issue, while overseeing a massive increase in the already way too high immigration numbers?
Halt immigration and watch your capacity to pay for affordable housing vanish. If the solution was so easy as to just stop people from coming in we would have done it long ago.
@@Scooter-sp7kj and who will build the new houses?
Always this dumb answer. @@GelsonHalmenschlager
Negative gearing is the problem
It's kind of crazy because the cost of living has absolutely skyrocketed, rent is unaffordable, and the average wage can't keep up. The discrepancy between the rich and the working class is getting almost as large as the US which has overall a worse social environment. As a wedding photographer I can charge almost double in Europe and triple in the US, while the cost of living is essentially cheaper than Sydney. No reason to stay here and can't even imagine what it's like for people who don't earn well or have more mouths to feed.
I feel any free standing houses anywhere within 100km of an ocean in australia will be $1 million easily in the future...
A 3 bedroom, 1 bathroom and 2 car garage house on a 500sqm block near me just sold for $1.2M - No air-conditioning, no solar, no water tanks, no views not even a garden. Pre-covid that house was $400k!!
How to.solve supply issue. Stop people from owning more than 3 houses. Only be able to negative gear on 1 investment property. Get rid of Stamp duty and capital gains for first home owners. Dont allow properties to remain vacant for more than 12 months.
Only Australian citizens should be allowed to buy the house
I reckon we should just start doing that now, my mate almost lost a house to a foreign investor coz they offered 50k more. The agent luckily wanted the deal done quickly
@@Noobmaster69_bro exactly
What makes you think that Australian citizens aren't going to coop with foreign buyers? The result will be exactly the same.
the only people who are in general employment that are okay
1.POLITICIANS
2.Beauracrats
3 PUBLIC SERVANTS
4 BANKERS AND CEO'S "All the rest just be happy "that you dont have to work in these crap enviroments
I had a neg geared property for many years.. When I sold it my tax bill was $180,000 ..so the govt got far more back than what I saved on my tax over the years, This is rarely mentioned
And how much TAX did you AVOID? Thats rarely mentioned parasite
CGT would have been 15% so you made a massive profit of 1.2M
@@glens0r I wish. Nothing like that .If you take inflation into account the profit was modest and costs of keeping the property were fairly high. Plus delinquent tenants etc. My situation would be fairly normal for small time investors
@@johnpro2847 I do apologise for not taking inflation into account
@johnpro2847 So true mate. The tax incentives only slightly help the rich middle class. Gina Rinehart is making not making her immense wealth in the property sector through negative gearing.
We should have a tax on luxury houses. 10% would be good it can go to helping the poor get into housing.
What hurts me the most is we can't even eat if we want to live in a home. Everything is done with the intent of saving every single cent here.
I feel anywhere in the so called developed world is totally unaffordable... including New Zealand, Ireland, England... nearly everyone out there will highlight cost of living pressures...
It’s same problem worldwide. Australia is not alone in this. Europe is also not affordable rn. I guess we are in crisis what we don’t spoke of.
@@dinotalovic6188I have a property in Spain and no , it’s not like Australia
Yes isn’t it funny how every capitalist nation is suffering from the exact same issues… hmmmm…
Noostraders is right. It's only the five eyes "american dollar" countries. UK, canada, Australia, new Zealand and United States has it economically better but they have their own set of multi diverse problems
This housing crisis for buyers or renters is far worse than in the USA.
Cheaper to go Thailand or Bali
Go please
Do you make money there or here?
Yes , much of Asia offers a really good quality of life these days, my gp in Australia actually told me that if you get sick try to go to either Singapore or Malaysia for care , his hospital care in Australia matched my families, never again
@@vinhnguyen4357 He just said he was going. You don't have to sell it even more.
Living there on Australian wages, then yes
A house in 2017 cost 660 Bitcoin. Today that same house cost 6.6 bitcoin. So where's the inflation? Know your asset. Know your wealth.
Capital Gains Tax discount, and negative gearing tax reducing strategies, ultimately makes it easier for an investor to get a bigger loan than a first home buyer or owner occupier.
but do not explain the overall shortage of housing
I live in an old house in a great suburb in Melbourne, I probably pay $200 a week rent less than anyone else in the area. Mid next year I'll be leaving Melbourne and not coming back. It's too expensive to live and you can't drive anywhere due to roadworks.
The funniest thing is Australia by rights should be an affordable, ecnomic and energy producing powerhouse of a country.
But corrupt/self serving (or foreign serving) politicians putting in bad policy for short term gains only for those who stand to benefit and to appease foreign interests (primarily Coalition as they are in power majority of the time until their decisions catch up with them and everything is shit and a decade turnover to Labor happens, who then somehow cop the blame for a decade of decline - countries can't turn course in a few short years),
lack of corporate competition across industries, zero manufacturing so ecnonmic diversity is non-existent and other factors is damning Australia right now.
Its unaffordable, and just about ready to buckle and collapse.
I paid 360,000 AUD for my house in Brisbane in 2022. It was just valued at 1.2 million AUD, obscene. This is the fault of the Federal Government's migration policy. I'm all for immigration, but we couldn't cope with 300,000 more people per year over the past 10 years and now we are paying for it. I worked with a South African we bought 6 houses in Brisbane and a Kiwi Manager who owned 12 houses, is this fair ?
We need 1 person 1 property policy
Not really. If government allows us to build 1 house for every 2 people then this would probably be enough. We don't need 1 house for every person.
It was tried. This was a policy in the USSR. USSR collapsed, one of the reason was an excessive regulation of everything.
Dick Smith solved this problem over 10 years ago, but nobody listened. He said that immigration needed to stop for just 2 years to get us back on track. But the Australian government in all their wisdom increased immigration.
@4:10 the chart says Average full-time earnings in year 2015 is nearly $200,000. Either something wrong with the chart (or my interpretation of it) or I the poorest person in Australia. I earn half as much in 2024.
the scariest part: **1% owns nearly 1/4 of all AUSTRALIA's PROPERTIES** ( aka: houses and apartments) ... how did that happen?
The biggest problem for housing is the extremely high immigration numbers. Successive government have high immigrant policy to artificially prop up the economy.
Yes. Millions of voters each election will vote for one of the two high-immigration parties. Why do they keep doing it?
@@davidvanderklauwYep. Cluelesd Australians. They think Dutton will fix anything. He'll do fck all. He's elitist af.
Why is it that by the time I’ll be an adult this country will be unliveable. And there’s essentially nothing I can do about it while a girl who said “hawk tuah” while drunk is now set for life?
Despite saying the government has under invested in homes, we still have one of the highest rates of home building in the world, as indicated by the far higher ratio of cranes per head of population. But when you bring in almost 1,000,000 people in a couple of years to a country with only 25 or 26 million, there's no way you can ever keep up.
So you suggest kicking them out?
@ certainly the temporary visas need not to be renewed, yes
@@wombatusmaximus1788 what about refugees fleeing war-torn lands?
@@Ok-cr8cb Refugee Visas, specifically the sub class 200 refugee Visa where people have gone through the proper refugee system through the international community, is permanent. There’s a sub class for people who apply for protection after arriving, which are very often dodgy and need to be investigated from scratch on the Australian taxpayers dime, is a temporary protection Visa sub class 785. Once the war or whatever it is in their country is over, the people holding the temporary type should go home and they should be primed to go home. Don't get too comfortable fellas.There’s over a quarter of a million people here on temporary student visas, about 17% of all the international students IN THE ENTIRE WORLD are in Australia which is ridiculous…and the only people benefiting from them being here are the university board members. Once a temporary skilled employment or working holiday Visa expires, there should be no controversy in saying that they should go straight home.
@@Ok-cr8cb did my response just get deleted
Governments don't "invest" in housing. They regulate housing. Bit of a difference in those concepts. Also, negative gearing was introduced in 1936. Sounds like research on this video is a bit lacking.
We used to innovate at the CSIRO but consecutive governments have gutted our science sector. Australia is a first world country with a third world economy as we are all about exporting animals, minerals and education.
It sounds pretty much the same as the situation in Britain. Governments could prevent speculators from bulk buying if they wanted to, but then they’d be accused of being socialist. Can’t have that, can we?
This is sad. It sounds exactly like what is going on here in the UK.
Its late stage capitalism. Time to change the economic system to something more sustainable and equitable.
@@JayzVeez Like what? Don't even try to sell socialism/communism, they simply don't work (i was born in the communist country myself). So... what's your advice?
I love that this started off by explaining where Australia was... as if most people don't know?
In Europe the pension is given to people at 55 , that shows you how Disgusting our Government IS.
No it's not. I don't know a single country here in Europe that does that. The vast majority is 60-66.
Which country are you talking about, it's certainly not Germany. In Germany and most surrounding countries it's 66.
Life got expansive everywhere. Thats a fact. Not just in paradise
Shortage of housing supply isn't the main issue. The main issue is there is too much demand driven by negative gearing policies and too much red tape to get anything approved in this country. There are plenty of developing and developed countries out there that don't have a housing crisis with the same or lower number of dwellings per 1000 people as this country... Greed and nimbyism is the ultimate cause, there are over a million homes in this country that are sitting vacant at any given time. This is what happens when a government incentivises people to buy housing as a for profit financial investment.
Negative gearing adds to demand to purchase housing for investment but does not explain high rents.
There is a shortage of housing - caused by government - which causes high rents.
Negative gearing haters are barking up the wrong tree.
The price of even a small sh*tty house in Melbourne and Syndey is absolutely mad. How are young people supposed to ever own a home?
About to turn 21 don’t think I’ll own a house until I’m at least 25 and I have almost 30k saved for a deposit but the pricing and repayments are just way above my earning capacity and not attainable
Most people won’t own by 25. And need way over 100k deposit
You're literally case and point. 21 and thinking about a deposit for a house instead of starting a business. Even when Australia has already had its run in real estate and its clearly out of reach for most, as well as a bad deal.
Why do you think you deserve a house at 25 lol
Do you have issues with private equity companies buying up real estate like in US?
While this is happening, Melbourne is building a tunnel called "the metro tunnel" and i dont see how its useful at all. it also added 1 billion dollars to our debt
and a suburban rail loop
@@mkf628 Rail loop? you mean city loop which is already finished?
@@JacksVictorianTrains suburban rail loop
Have you been anywhere else recently?
We’ve not had a housing policy since the nineteen fifties combined with our American planning system and no public transport
Over here in Canada. Might as well duplicate this video and slap Canada on it.
Thank you for good reporting
100% money for tax concessions for home rental
But nothing for productivity is our problem