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This video has been real quiet about companies' price gouging, and housing companies holding onto housing supply to drive up demand. Pretty much private companies are ruining Australia
Mate around the world Australia is hardly portrayed as a paradise, more a "everything wants to kill you hot hell hole", the local media pushes the paradise narrative.
@@liphrium9858very true, another thing isn't just private companies but government funded private think tanks like the Gratton and Lowy institutions that have a say how and where the tax money is spent.
@@gppsoftware We've been held hostage by Mining, Banking & Property. We're so eff'd when those pillars collapse because it's unsustainable. The value is illusionary i.e. playing with numbers - ponzi scheme.
Because every idiot still watches mainstream news and thinks one of the 2 parties are going to solve an issue that they both are vested in not solving…
Royalties have been decreased at an alarming level. Given it all away at our expense. But the politicians or ex, have a fantastic paying job after politics
I'd say the bigger problem is those that vote for them. And no "They're all the same" about it. We had politicians who proposed higher mining royalty taxes so that Australians kept more of our mineral wealth in the country, rather than it being given to foreign companies. We voted to keep those politicians out of power. We had politicians who proposed reworking the housing taxation system so that housing was less of an investment vehicle, and closer to a utility. We voted to keep those politicians out of power too. The same has been true of effectively every issue and policy that could have improved Australia's current situation. We've had politicians who proposed and went to elections on those promises. The Australian people rejected them every single time. We're reaping what we have sowed. It'd be nice if we could just blame politicians for this, but we get the politicians we elect. We have consistently elected against our own long term interests, and eventually that catches up to a country. We're the country of "Don't rock the boat", stuck in a changing world but not willing to ever do anything differently. We are the lucky country whose luck may have finally run out - and because we always just relied on that luck rather than planning for the future, we're likely in for some pain in the coming decade - but that's what we voted for. Its what we decided that we wanted. Frankly, we have noone to blame but ourselves (As a country, individually you may have voted for policies that would have helped the country, but unfortunately the majority of the country did not).
Well if they were made to wear the names and logos on their clothing of the sponsors like socker players, no one would listen to their lies. By now it would not even be in english. The only national ties to this place are their personal property portfolio. Try to talk some sense into them is like talking to frog to drain the pond.
Norway invested what they received from selling oil into now what is the largest sovereign fund. They started investing 30 years ago, the fund has been compounding nicely. Every norway citizen is virtually a millionaire thanks to that decision. What did the australian politicians do with the money received from selling iron ore coal and LNG? Nothing.
When the government tried to implement a super profits tax on the resource and energy companies there was a massive propaganda campaign against it claiming that it would destroy the industry and customers would buy their commodities elsewhere and Aussies would lose their jobs. A few years later there was a downturn in the iron ore market and countless people lost their jobs anyway.
The political zeitgeist is not the same. As soon as the politicians have the money to pork barrel the marginal electorate, they will. If they can borrow from our children’s future to pay for things now, they will. Every single person is guilty of this BNPL mentality
They money went back to the corporations - look at how much tax Santos paid in 21/22 financial year. We are just as corrupt as Venezuela, we just have more money to go to welfare so it’s not as noticeable…
The cost of a house here is out of control and people only have themselves to blame toasting each other about how much their house is worth when the only real winners are the banks and real estate agents.
i read a comment by a guy who said his property's value gained 100% in just a few years. But then he says all he really gained is he now has to pay higher council rates and high water bills. Whether your PPOR is worth $100k or $10m, it doesn't make much difference in your day to day life. It could be worth $10m, it doesn't necessarily mean you live like a king. As you say, the only winners are the banks first, then insurance companies and the gov. And a few well informed property investors maybe.
@@johnsmith-ro2tw very well said. And the other problem is that the house gains in value but if you sell it you will have to pay a higher price for another house similar or better.
Pretty sure you don't want your fries having news articles pressed on due to the chippy grease saturating the newspaper ink. 😂 fk it all in no fks given bros much love from NZ 🎉
Australia's economy is more primitive than many think. Yes we have a large resources sector but due to poor government policy foreign companies reap the benefits of our rich natural resources far more than we do. Australia doesn't have a big "value add" industry. We send the resources overseas and countries like China + Japan do the value add and sell it back to us. Regarding housing, supply & demand are a huge factor but also poor government policy means housing is seen as an investment first and a place to live second here. The return on capital is often better on housing than other assets and with much less risk than starting a business or buying individual stocks. I see self interest & laziness from our politicians as the key contributing factors: Self Interest -- many politicians own multiple investment properties so have no personal gain to slowing rising house prices thus do nothing to help. Further, there is a quid pro quo where politicians will do backroom deals with industry to implement poor policy or no policy then work for these industry bodies when they leave politics in high paid "consulting" roles. Laziness -- reforming an economy is hard work. Permitting mass migration to grow the size of the consumer market to juice GDP (but not per capital GDP) is easy.
Very apt summary. I'd add in that we are also privatising what used to be publicly owned and generate government revenue, but now we often aren't even collecting tax on the private companies that buy it and gouge prices.
Totally agree, foreign resource owned companies are fleecing the wealth of the country. Australian's do not benefit at all from all this wealth. Any royalty paid is wasted by governments.
Whilst immigrants happily have ten family members sharing a home so to speak and contribute a smaller share in rent, pushing " aussies" rural or homeless.
Being an Aussie that has left for more than 2 decades and recently returned temporarily. I see how bad Australia has gone downhill in every area except the freshness of the air. So many more homeless people and people with mental health issues and just a lack of general optimism in the youth of today, many of whom i work with. The cause is totally the government's fault. Firstly, selling off all the government owned infrastructure and departments to fund their political promises, thus losing any future ability to generate revenue and control on basic costs of living for its citizens. Secondly, the stupid citizens (like myself, i still postal voted) voting for these parties without realising how they funded their election promises. Now that everything is privatised, the government doesn't have the money to invest into massive infrastructure projects and just keeps funding silly feasibility studies, like those for the high-speed rail. A high-speed rail corridor opened from Sydney to Melbourne, via Canberra would open up so much land for housing it would bring the cost of housing down in the major cities of Sydney and Melbourne Imagine living 150km from Sydney and being able to get to work in 30 to 40min. Of course, this will never happen as the politician will leave it to private enterprise to fund and operate these projects, making the fares so expensive that the end user pays ridiculous amounts to use such services. And risk a drop in house prices in the major cities, oh no, we (govt) cannot allow that to happen because we get taxes from the housing prices being so ridiculously high. Take driving from mascot to marsden Park costed me $30 in tolls taking 50min otherwise not using tolls would be 1hr 40min. Ok, there is a toll cap per week. But I only drive it once a week, so return trips. I barely get any relief. Everything the government does is such a money grab here, for a government to derive so much of its revenue from taxing its citizens is unsustainable when without immigration the pool of tax payers is reducing and will continue to, until someday immigrants get fed up and leave because they cannot afford anything and are stuck in a never ending cycle of paying off their 1.5m house, travelling 2 hours one way from their work places paying minimum wage. The lucky country? Sorry, I will be heading back overseas as soon as I can. What is the government's plan for Australia as a whole for the next 20 years? No politician can answer that as they will be already out of politics and getting their parliamentary pension whilst sitting on the board of some private company that won the contract to build the infrastructure the govt should have built, owned and operated itself in order to control prices (at least for the basics like power, gas, water, transport, roads, airports, and the list goes on...) sorry for the long rant, but really, this doesn't feel like the australia I left 20 plus years ago. The quality of life has at least halved for the wages earn today.
Its worse here, our economy is like a flailing fish, fighting for its life. The normal state of the U.S. economy is actually very bad. Because of this it goes into convulsive spasms fighting to grow any way it can out of desperation. Tricks, gimmicks, rule changes try to stimulate the economy and prevent it from falling but they only bring temporary relief to people since, when you factor in inflation we are declining.
People believe their currency has the worth it does because they have no other option. Even in a hyperinflationary environment, individuals must continue to use their hyperinflationary currency since they likely have minimal access to other currencies or gold/silver coins.
Inflation is gradually going to become part of us and due to that fact any money you keep in cash or in a low-interest account declines in value each year. Investing is the only way to make your money grow and unless you have an exceptionally high income, investing is the only way most people will ever have enough money to retire.
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The continuously changing economic conditions in our society have made it necessary for people to find additional sources of income, thus I am looking at the stock market to fuel my retirement goal of $3m, my only concern is the recent market crash.
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You say it takes 13 years for the average person in Australia to save a deposit to buy a house. Problem is, after 13 years the price of said house will have more than doubled, and your deposit won't be enough. House prices in Australia are increasing faster than people can save.
To say nothing of how much older you'll be and thus have a shorter amount of working life to pay it off. So higher payments will be needed again to compensate for shorter loan duration.
Coming from New Zealand (Auckland), Australia's house prices are ridiculously affordable. Melbourne is about 50% cheaper for an equivalent house size vs Auckland. Salaries are 30%+ higher, groceries are 10%-20% lower, electronics are 20% lower, there is a working public transport system which is much cheaper than owning a car. My partner and I moved here a week ago and have been shocked how cheap things are plus how high the salaries are, and overall how good the quality of life here in comparison. Australian's just don't realise how good they have it.
Australian here - it's so much worse than you think, it's borderline unliveable. You can just see it on people's faces that everyone's had enough, it's just pain day after day.
Seriously, just pack up and leave. There's better places to be. I did that. Made a few smart investments and am now cruising. Back in Aus I would have died with a mortgage.
I had moved to Sydney in 1986 as a young Dutchman, but after obtaining my permanent residency, I left Australia for good in late 1989. I moved onto Vancouver, Canada instead, and been in Canada ever since. I loved the Aussie way of life and the climate, but I liked Canada equally. There are a lot of Aussies moving to Canada recently.
As an Aussie, I gave up on owning a house twenty years ago when they were asking $900K for a house that was worth $70K a generation ago. Cost of living certainly has become deeply inbedded and insidious. Our grocery bill is almost twice what it was 5 years ago. The lucky country is now only lucky for a very few.
Mate if you were looking at 900k houses 20 years ago you were clearly looking at the high end of town. You could get a good home in Sydney for $500,000.
had a bloke at work today tell us how he got knocked back at the bank today due to not being able to service the loan for a 3 bed 1 bath 1 car house in the outter northern suburbs of brisbane with a 20% down payment his repayment would be $5300 per month he works 38 hours a week and that is almost equal to his take home pay. 0 kids, no partner, no debts and that is what it is now its completely cooked now.
Any time anyone talks negatively about immigration, it’s important to remember that the government controls that and they allow the high numbers at behest of those poorly-producing companies that want cheap labour to drive real wages down, but aren’t obliged to provide any housing support.
It's not cheap labour though , most of them have qualifications and are being paid the same amount as the Australians with the same qualifications. They're focusing too much on university degrees and not enough on trades. Forty percent of our construction industry will be retired by 2031.
@@hayden6056 being paid the same amount, sure. But simply through having sheer volume of qualified workers, wages stay down. Also, a lot of immigrants may be more easily exploited due to lacking English skills or fear of losing their visa and more. I’ve had an employer who keeps trying to cheat their employees out of greedy cost cutting and we’re almost all native-born, normalised to the system and with good English skills. Despite that, only one or two people stood up and actually pushed back against the wrongdoing. The rest either didn’t understand what was being done to them, or feared losing their job over losing a few dollars. Now imagine that but also you don’t have even a layman’s idea of what’s normal and appropriate, you don’t know where to go to find out if you feel something is wrong, you maybe barely speak the language and if you do understand and know you’re being cheated - standing up for yourself may not just lose you a job but also your place in the country, or even just money that your family back home need to live or for medical treatment, etc.
It's not cheap labour it's a consumer and business relationship between government agencies banks and political parties .Were sovereignty not exist then automatically it's a autonomy Too many different laws and equality does not exist,but if Ozzie's ever been interested in this system i do not think they are .What a turmoil with union.Good on them !! The media is writing what suits the government and corporations.I am thorn in the hands of this system!I
Australians haven't seen any royalties from our coal, ore, gas or gold! The country where corporations pay little to no tax and government employees make the rules then go work for those corporations! Corruption is disgusting in this country.
What has changed in Australia since the sixties? The death of the housing commission and the financialisation of the property market. What other impacts could you expect after sixty years of mismanagement?
@@sergedinatale7241 I totally agree, they have a worse reputation than American lawyers. Take a look at any Real Estate agents stock list and the marketing is geared towards investors $$$. It makes me sick.
This administration is putting many families in difficult situations. A lot of people are financially struggling to live, put a roof over their head and put food on the table. Things are getting worse these days, if you don't find means of multiplying your money you might wake up a day to realise you didn't plan well for yourself and family…
I agree with you and I believe that the secret to financial stability is having the right investment ideas to enable you earn more money, I don’t know who agrees with me but either way I recommend either real estate and stocks..
I’ve been diligently working, saving and contributing towards early retirement and financial freedom, but since covid outbreak, the economy so far has caused my portfolio to underperform, do I keep contributing to my 401k or look at alternative sectors to meet my goals?
@@kaylat63 Understanding your financial needs and making effective decisions is very essential. If I could advise you, you should seek the help of a financial advisor. For the record, working with one has been the best for my finances...
Understanding your financial needs and making effective decisions is very essential. If I could advise you, you should seek the help of a financial advisor. For the record, working with one has been the best for my finances...
How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.
The problem is simple and can be seen all over the world (Australia, Europe, Canada, etc.). The rich are getting richer, the poor are getting poorer. The rich would have us believe that the problem is immigration, we believe it, they've won. It's as simple as that.
It’s a mix of immigration and slow house building. If you have 5 people and 10 homes the landlords compete with each other to get a customer = lower price because getting less money is better than nothing. If you have 20 people and 10 homes the renters compete with each other to find a place to live = higher price because they pay more to get picked over other renters. The only way to solve this is to build more homes than there are people. The problem is we have more people entering and can’t match that number in how fast we can build homes. The result is even higher prices. So we either build houses faster or slow down immigration. For some weird reason our government isn’t doing either 😂
@@OfficialMarcusLy could that weird reason be that politicians have extensive real estate portfolios and benefit from rising house prices? It certainly would be weird if they used a conflict of interest to benefit themselves, wouldn't it?
I agree. In the US we think the politicians are running the government but in reality the rich run everything. Instead of using their vast wealth to improve society they use it to line their own pockets by influencing or should I say paying off the government officials. The old saying the rich get richer and the poor get poorer goes for the middle class also. This is happening all over the world. Good luck Assies, we will all need it before it is over.
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If democracy is so great, how does the government just “ignore" these problems for multiple decades and by both parties, I think I see what is going on.
The form of democracy we've fallen into being 'election democracies' barely resembles the philosophical grounding of a government by the people. Contemporary Western governments aren't beholden to opinion at all anymore, all that matters is the calculus of choices that results in 51% of votes in 4 years time. They have no reason to give a shit about anything that doesn't happen to influence election chances, instead of governing for the political and economic good.
It all boils down to mediocre governments populated by mediocre politicians since the early 1990’s, which was when our last reforming government was in power. We have governments that can’t look beyond the next election and to be quite frank, are completely out of their depth when trying to manage the multiple issues the country currently has and those that are forming on the horizon. The days of the “lucky country” are coming to an end.
👍Mediocre governments populated by mediocre politicians would be an improvement. I believe those guys got pushed out by the diversity phase/committee. So for the last decade we’ve had substandard second-rate, incapable, almost entirely lacking, flawed half wits. Driving the lucky country further and further into division, fractionalization, disharmony, and disunity. All during the most dangerous time in modern history.
While I agree with what your saying at the same time we the Australians vote down any politicions who do come to an election with large reforms. Just look at the 2014 (I think it was) election labour got eviscerated for daring to suggest to change negative gearing
I'm an Australian living abroad and feel like I can't really move back because there's no way I'll buy property and battling with 100+ other people to try and rent a specific place seems too daunting. I'm sad because I miss the culture and beaches. Guess it's no longer 'the lucky country'.
I’m in the same boat mate, born and bred Sydney and left in the mid 2000’s. Would love to go back but cost of living is just far to high! No point living in a city with great beaches and weather when the majority of your money is going on house repayments….
Moving to and living here for a decade, I think the problem of this country is that nobody is ambitous about anythin, the government and people are conceited and self-satisfied. People here may complain about many things but don't really have a determination to change anything.
The actual Australian population that aren't migrants or international students are quite old from memory... Idk if statistically, this has changed but if that's the case then they've all worked their time and have houses so of course they're self-satisfied. I do agree with you. No one is ambitious about anything here. We're still waiting for approval on solutions to problems that have existed forever or we knew were coming 20 years ago. By the time it gets approved, newer problems arise. This country really doesn't think about the future. The future has arrived and look where this country is at....
Our economy is like a flailing fish, fighting for its life. The normal state of Australia economy is actually very bad. Because of this it goes into convulsive spasms fighting to grow any way it can out of desperation. Tricks, gimmicks, rule changes try to stimulate the economy and prevent it from falling but they only bring temporary relief to people since, when you factor in inflation we are declining.
Inflation is gradually going to become part of us and due to that fact any money you keep in cash or in a low-interest account declines in value each year. Investing is the only way to make your money grow and unless you have an exceptionally high income.
Thinking of how difficult it is to get a job, I think it’s time people start investing and earning their own money, the heartache from job hunt is quite unbearable, I for one would prefer investment than getting myself worked up on seeking a job
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I remember a time when Australians made real products but now all of our "productivity" is nail beauty bars, gyms and carer positions. Its like we pay each other to scratch our noses and its counted as a growth in GDP. The only things of substance is iron ore and gas and the honeymoon period for selling that to China is now over. I'm afraid its all down hill from here.
Australia used to make our own Aircraft, some Ships, and a high percentage of Cars and other Vehicles were also manufactured here. Now our main exports are Iron Ore, Coal, Natural Gas - with very little added value. This leads to a de-skilled Work Force. 87% of Australia’s Natural Resources are owned by the US, UK, Canada, Japan, and China (in that order). It is easy to see why our National Debt is so high.
For the first time Australia has seen a rise in corruption. Most people working in key places are corrupt. This might contribute to the down fall in economy.
I’m Australian citizen. Walk outside and there are people everywhere! Too many people ! And not enough houses. We are screwed. No upward movement in jobs. Can’t buy a house. It’s chaos. Nice to visit but not to live.
@@jonnies Australia could have double to population and there'd still be a crazy amount of space. Its just that's not what the pollies want and they'd rather keep shoving everyone into the big cities and keep expanding urban sprawl.
@@DEadSpaCE211 it's actually people voluntarily shoving themselves into the city. Urbanisation is a global phenomenon - modern people prefer the city over the country. If anything the government has incentives in place to attract migrants to work rural before they can apply for citizenship. Take responsibility for yourself. I moved to the country and there was nothing stopping me (or 'shoving' me back towards the city).
Another issue not mentioned here is that the majority of parliamentarians own many houses sometimes 20+. Our PM makes 100k a year from renting alone. This conflict of interest would mean our government would not be that interested in solving the housing issue as a large portion of their wealth is tied into housing.
If you work as a teacher and your child attends your school, you're not allowed to teach their class, if you apply for a job at a nursing home that your parents live in, they won't hire you. Why can someone who owns investment properties write housing policy?
Have a friend down in Toowoomba, QLD. Inflation is killing Australia. Their cost of rent is out of control even in the smaller, more rural towns like hers. Petrol is expensive.
Australia period of reliant to China as major supplier of raw materials had ended . The coming economic difficulty for Australia has just started and it will not be pretty and prosperity like previous 40 years
@xw8462 we are reliant on china. Australia has no domestic refinery capability, meaning all the resources our government pulls out of the ground are sold raw. We sell iron ore not steel for example. If china dont buy it then we need to find someone else with a large enough industry to convert those raw materials to something useable which would take years. Our government are brain dead goons who are bleeding the country dry of its natural resources without actually investing in domestic production. They sell coal and iron ore then buy back finished product at a higher price.
It’s simple. The big mining companies and ultra rich pay no tax. And the government has not invested in providing affordable education for improving Australian skills and higher technology industries. Plus negative gearing in property investment means all that Australia does is dig up resources and the rich invest in properties. Regular people are being kicked to the curb by our sold out corrupt politicians. I came back to Oz after living overseas for five years and it’s like a different country in terms of cost of living and quality of life. Medical treatment is impossible here now too. We have basically become a neo liberal corporate state like Ronald Reganomics dreamed of. The rich get richer and the poor get ruined. What is really disgusting is that the politicians are quietly encouraging xenophobia and racism by allowing Australians to blame all these woes on immigrants and foreign students. Blame the ultra rich not migrants!
"The big mining companies and ultra rich pay no tax" This is incorrect. Stop falling for left-wing BS and go and look at the facts. The rich and the large corporations pay most of the tax.
Ignoramus, the migrants coming here ARE ultra rich back from their countries so they're also rich here in Australia and become part of the other upper and better off middle class.
The problem with Australia is that the country is economically rich, but culturally poor. It wasn't rich because of the people's merit and hardwork, but through our naturally occuring resources. The people aren't as educated as they think they are, infrastructure is outdated and cultural thought is embarassing old compared to the rest of the world, there isn't a culture that promotes and rewards excellence since everyone is leveled down to fit into the mentality that we are all equal, equally stupid, you aren't smarter than me, smart means nothing anyway, Government will take care of us, Government knows best mentality because the Government wants to dip their hands into the citizens money as much as possible from every angle, noone wants to work hard, it gets taken away and placed into poorly planned and executed projects and lazy people fall back to Centrelink. Job opportunities suck and we don't have anything to offer to the world that was crafted through our own innovation. We literally have no Global Brand, although we have resources, we can't even effectively use it, resorting to exportation. We have the best meat and seafood, yet our own people can't enjoy it, instead delegated to frozen brands, because the actual good shit is being sold to international markets. We are uncultured and once the resources run dry, will the people make up for those losses? A lot of talent is already moving to other countries where they will be rewarded or can better utilise their skills, without all the bureaucratic red tape.
'Government wants to dip their hands into the citizens money as much as possible from every angle, noone wants to work hard, it gets taken away and placed into poorly planned and executed projects...' Indeed. Mediocre governments populated by mediocre politicians would be an improvement. I believe those guys got pushed out by the diversity phase/committee. So for the last decade we’ve had substandard second-rate, incapable, almost entirely lacking, flawed half wits. Driving the lucky country further and further into division, fractionalization, disharmony, and disunity. All during the most dangerous time in modern history.
@@theluckyegg3613 that's the problem, the sheep are too content while the government is fucking them up the arse. Every nation is made up of sheep, but the difference is Aussie sheep are way too content with a $100 free for you good citizen in the bank this year.
This is spot on. It is going to take decades to fix this broken economy. We are so myopic and the policies are so bad. Damn politicians, days for nation building are over in Australia. Only selfish short term gains.
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Investing with an expert is the best strategy for beginners and busy investors, as most failures and losses in investment usually happen when you invest without proper guidance. I'm speaking from experience.
The big rise in house prices in Australia is caused partly by the speculative buyers . There was once a time when houses where somewhere for people and families to live , but now houses are a way to get rich without working. We have a bizarre “futures” market in realestate , and vast amounts of capital flow into the market, forcing prices up as in any market , it’s been correctly called a “ponzi” scheme . Government policy has made it worse , tax breaks for so called “investment “ properties etc. But this was expected as the manufacturing industries declined there was a lot of capital looking for somewhere to invest, as houses increased in value this encouraged more investment and a vicious circle ensued. The final straw in the comedy of errors was the big increase in immigration coupled with an increase in wealth from exports of raw materials , more money and more buyers forces prices up. Politicians will do nothing because they are the speculators making money from rents and capital gains even the Prime Minister has rental properties. Australia needs to penalise investment in real estate and subsidise investment back into manufacturing , then we would see house prices come down and factories built so that poor people would have a house AND a job, simple isn’t it.
Or even money into R&D - they are too dumb and lazy to build something like a Silicon Valley in Australia. Instead real estate is where all the money goes.
The lack of R&D is a huge issue, a lot of our best talent is either moving overseas or working for mining companies. Our gov is so short sighted in many regards, education also being one of the main areas lacking in investment. With the global decline in natural resource consumption, and lack of innovation in other areas - it's now biting us in the butt big time.
What this videos does not mention is that not only do you pay a high price for a property it’s also very poor quality compared to European houses. Who wants to pay 1m for a shack
You're damn right there mate. I'm renting in a new area in a house that is less than 5 years old. Have lived here for 3 years and the amount of cracks up in this place... We're barely home too as we're always working. Don't understand how there's this many cracks when all we do is sleep in this house and leave for work. Landlord was sending some dude to seal up the cracks to begin with and I think mates given up 😂
you cant even learn a trade here anymore as tradesmen expect you to pay for it, even if they make 150 an hour, this country is dying because of greed and stupidity, want to go to university, good luck if you can afford the rent and cost of food on a min wage job working part time hours, then they keep saying we have a skill shortage 🙄.
Ive done 2 trades in the last 10 years and havent paid for either, not a cent, i even had paid accommodation in Melbourne as my tafe was there and i lived 2 hours away. If you're not getting looked after leave, you can afford to do so believe me.
@@BigMoistMuffin well good for you but i cant get anything, you must be lucky or very well connected, nepotism strikes again, the bank of mum and dad, is all you a**h***s need, im sick of you rich kids.
One issue I'd raise is about scarcity - There are actually plenty of houses to go around, about 1.2 million vacant homes in fact (according to 2021 census data). The problem is however that a lot of these are owned for speculative purposes and are kept vacant so they can be sold once their market value has increased. This accounts for a huge amount of houses that no-one is living in, about 1 in 20 houses in Melbourne for example, which has a population of 5.1 million. That's nearly 100,000 houses in one city that are unoccupied, mostly for no other reason than people who can afford them sit on them to make more money, which increases both scarcity of housing and wealth inequality, as people who can afford to do so increase their wealth compared to people that are unable to buy their own house.
A couple of key points were missed, the ones that have absolutely supercharged the property market, and I say this as a home owner who also owns investment property. Negative gearing is a big one (the ability to write off expenses incurred on your investment property against your personal income), while the other is capital gains tax discounts (you pay less capital gains tax if you hold an investment for over a year, and none if you sell your personal home). Individually both these policies make sense, when negative gearing was introduced it did well to promote construction and had a negative affect on rents, but when the capital gains tax discounts were introduced it created a vicious combination. Now I can buy an investment property, subsidise any costs through the tax system (socialise the losses), while avoiding a huge chunk of tax when I actually sell it (privatise the profits). One or the other would work, both together caused disaster. Pair that with cheap credit pushing the house of prices up, often more than 10% a year, and you create a market where anyone with a house can use the equity gained from price rises to borrow against and buy investments that are subsidised, utterly outcompeting anyone trying to get into the market to buy their first home. The fact that we don’t have an economy outside of resource extraction means that the vast majority of people’s investments are in property, so any political party that runs on policies that would make any significant changes to this will be slaughtered at the elections, as people will always vote to protect their investments/retirement funds. There’s no easy way out here, we screwed ourselves royally.
It's such a pity that free speech and importantly political discourse is suppressed on Australian news outlets UA-cam channels. Just reading the comments here highlights how well people communicate and educate with each other about important issues. It's nice to hear what other's have to say, rather than just what a news outlet tells us.
Freedom of speech has never really been a high priority in Australian culture. Not saying people don't want it, we've been socialised to be a lot more controlled and restrained than other nationalities and just accept it.
Root cause is simple, Australia is a colony of a falling empire therefore not only has no autonomy in foreign and financial policies, but also is thrown under the bus to slow the wheel of history. The economy was good a decade ago and reason is simple, we were allowed to do business with China, who was not yet deemed as a threat to the master. And we didn't have to empty our pocket to buy nuclear subs and useless F35s. Now things have changed and master is busy waving the sickle all around to feed the family. The second reason is that "we" were spoiled by good life. Many are lazy and the system is corrupt. As long as there's beach and beers life is good isn't it? A builder can earn 10x the average wage paying very little tax. Politicians paying no tax giving the developers land to mark up by 10x. How would you imagine housing being affordable? Maybe blame the immigrants. It does cost a lot to be blind.
@@姜磊-n5h Not really. Australia’s economy has been highly ranked since in Federal (1901). Australia became more independent from the Commonwealth in 1970s . Before the Britain dropped its relationships with Australia and Commonwealth countries to join the Common Market. AUKUS would not have come about, if China didn’t have eye on the SCS an Taiwan. Australia’s economy is ranked AAA Stable by all international agencies. Higher than China or the US. Nonetheless, Australia does face a housing issue. Canada too. China is finding some provincial GDPs are failing owing to their housing crisis, owing to the failure of China’s Local Government Financial Vehicles.
@@petersinclair3997 sounds like quite some dose of koolaid you have drunk. Unfortunately we're at the best, or worst age ever in human history, depending on where you stand. Because we are about to see the colonial order fall like house of cards. Busted all the lies will be.
9:17 Sydney and Melbourne are three times less densely populated than London and 10 times less than Metro Paris to maintain this Suburban lifestyle planning permissions for many new homes are not being granted When you prioritize parking over people you get people living in parking lots, aka car parks.
Right on that’s the problem ,Australian cities have copied the American “urban sprawl” model , huge areas of sparsely populated suburbs , a very expensive way to build a city and expensive to live there . A car is necessary , services and shops are too far away , massive amounts of money and space are used for roads and car parks.
I live in Australia and it’s sucks, our government doesn’t give a shit stuffs way to expensive you have to be a millionaire to even get a deposit for a house, rent’s minimum $700 a week without anything else like food water or electricity, not even our healthcare will look after us and help for people with mental issues is basically none and if your homeless you can’t get help unless you have 2 things a phone and a address, like how can you afford a phone when your homeless, also phones start at $800 minimum for a shit one, and the cheapest phone plan I can find is $240 for a year, I could go on but I’d go over UA-cam’s character limit, Australia is the worst country in the world for everything
What a load of rubbish especially about the cost of a phone you can get a good phone for a couple of hundred dollars. I'm a pensioner and don't own a house I have a caravan and a four wheel drive and live very cheaply (including beer every day) . The health system is good and if you have a major problem you get free treatment in hospital. At the moment am travelling in central Asia and people like you should be sent overseas then maybe you woul'd see how lucky you are. Australia is still one of the best countries in the world. I can't stand whingers maybe you should leave Australia and let someone in who appreciates this great country .and by the way I'm not wealthy.
Not all of that is true. I use a smart phone I bought at Oz Post. It cost me under $150 a couple of months ago. They have quite a few options for that price. You have to learn to economise and shop around.
After 2005 Australians increasingly fell over themselves turning residential property into a commodity funded by absolutely insane levels of debt-leverage. Add to that, the most ridiculously ill-conceived tax concessions for landlords on earth. They’re now sitting on an economy ENTIRELY dependent on maintaining the resultant, grossly inflated, valuations. Their housing “bubble” is more like a hydrogen filled blimp. Yet, Australians are appalling at actually acting on issues now. Their polity is entirely facile, unresponsive, feckless and bought like cheap suits, their discourse distracted and wafer thin. They now realise (but will never admit) their ONLY way to prevent a serious economic depression is to pump residential property demand via mass net in-migration. But, even that won’t work in the long run.
Another cause to issues in housing you failed to mention is negative gearing, and policies that promote the purchasing of multiple properties by those who have the means to do so. Negative gearing allows property owners to negatively gear any losses to rental properties. So more houses, more tax write offs.
The problem is: What are people supposed to invest in? - If they want to have some Assets for retirement. Are they supposed to invest in the Share Market? It has been propped up artificially since March 2020. Allowing for the increase in the Price of Gold, US Inflation is now about 20%, and their Debt increases by $One Trillion about every 4 months, so far!
Australia is in complete denial of being in a recession.. it’s not discussed in the news, they pref to just cut to the great distractors… sports. Fluff and bollocks… it’s a total wreck
Supermarket items are 7% higher. How they adjust is having huge specials. Those who are not there on the day pay much more. The inflation here is much higher than the 7 % that is calculated. Edit : i was in my town today. (City censored for its protection ) There are sales every where. Every shop is in competition. If every one buys like I do. Then next year 2025, and more after that, I wont need to buy clothes. My wardrobe is nearly full. How will shops remain open. We follow the US. To this Labour government I ask. Move and open your minds. There is a recession around the corner. And yet you don't address inflation.
Australia and Canada have long been discussing the issue of housing; how come no one is talking about regulation? When will these countries discover that what's behind this whole mess is the idea that everyone is going to live in suburban housing with all the rights to "peace and silence"? Don't get me wrong, I love suburban housing and all, but it just doesn't fit anymore. Developers could fix the issue, but these countries are going to look more like Europe than the USA, which is not that bad after all.
It's really not about suburban desire for detached home and land. It's about cities and towns restricting supply through tons of regulation and red tape, builders sitting on massive land banks they don't care to develop since the value is rising and rampant housing speculation aided and abetted by greedy banks that is euphemistically termed 'investment'. This applies to Canada where I live.
- Australia does not need to look “more like Europe”. Australia has land area similar to USA, but 8x less people. USA is already under-populated. You just need to build more in the smaller cities, like it is done already in the USA (80% of population live outside big centers) - You need progressive property tax inside cities, to make owning more than one property more and more expensive, so people will own less properties, but owning just 1 is still cheap. - Ban businesses AND foreigners from buying property. However, incentivize building them, with lower interest rates. So: business should be able to build properties (with very low interest rates or 0 interest, with a penalty if the houses are not delivered), but not be able to buy them (only people should) - politicians area already aware of these solutions to real estate market. They just don’t have an interest in implementing them because they are invested in such market
@@LammaDrama It's not xenophobic if you ban foreigners. It depends how you understand that term. If somebody has permanent residence in the country regardless of their ethnic background they are natives. I don't believe international students and other temporary residents should be allowed to own homes as they are not making their lives in the country. Homes have to return to being a utility rather than an investment vehicle.
What annoys me is many parts of Australia have the space and beginnings of the infrastructure required to build some of these vaunted '15 minute Cities' in loads of places, but no-one wants to make the regulation easier, or invest the money in a project that would result in significant extra housing, with a far lower maintenance bill than our endless suburbia. I'm in Perth. We've passed 100 Miles long now, but because everyone wants to be near the beach, half this length is about 2 Miles wide. It's bizarro.
@@khanhhung8959It’s not much diversified compared to Australia. There’s also many duopolies in Canada as well. Even Ireland, US, UK, and New Zealand are struggling like Canada and Australia.
It's interesting seeing how the exact same issues apply in Canada. USA is to Canada as China is to Australia. Both Australia and Canada are resource rich, and they've been able to take advantage of these resources over the past decades. Both countries have low population densities with vast amount of land available; except that in Canada most of the land is too cold, and in Australia most of land is too hot/arid. Both countries had record high immigration in 2023 (Australia at 750K and Canada at over 1M ), and when combined with not enough homes being built for many decades a housing crisis is a major issue in both countries. I can feel your pain, as we're going through the exact same thing!
@@edwinholcombe2741 My point was meant to represent that USA is major buyer of Canadian resource products (Oil, lumber, wheat...Maple Syrup...LOL), just as China is a major buyer of Australian Ore products. There is no question that is as far as that comparison should go. I probably should have said as much, but didn't want an already long post to be longer.
It has and never will be a case of “not enough homes” the fundamental issue is overtaxation and unbalanced migration. There is a balancing act required between allowing the right type of skilled migration to occur balanced with suitable and nice home building. Successive governments have failed to realise this in order to achieve short term votes. Building a suburb takes multiple government terms and no politician can be bothered thinking more than a couple months away when they actually need to consider what the country should look like in decades to come. The second issue is over taxation. You take too much of peoples money for vanity short term projects and you get where Australia is now. If you leave people alone, take only enough for infrastructure you get where Australia was in the late 1990’s!
That wouldn't be hard. I wouldn't even send my pet to the UK to live. Australia is and always has been a better version of the UK but that's rapidly declining.
Idk about Australia but the uk without London is basically poor according to statistics, i see a lot of problems in the uk similar to my country even tho the uk is the sixth economy in the world, a lot of us went to the uk to make money but nowadays besides been easier to integrate it doesn’t offer the same benefits money wise but opportunity wise is still better and their career advancement opportunities meanwhile here the average young person is stuck, also most of our businessmen lack vision and prefer the old ways , our culture seems eroded in a very weird way that I thought it would never happen the solution is going abroad and abandon the ship while they go in direction of the titanic, other Europeans countries have the same problem but our country despite improvements is still behind the rest of Europe, maybe we should have participated in the w so we could rebuild or something
The economic crisis and downturn are all the signs of 2008 market crash 2.0, so my question is do I still save in the Australia dollar or is it okay to move all emergency and savings to precious metals?
In light of the ongoing global economic crisis, it is crucial for everyone to prioritize investing in diverse sources of income that are not reliant on the government. This includes exploring opportunities in stocks, gold, silver, and digital currencies. Despite the challenging economic situation, it remains a favorable time to consider these investments.
The pathway to substantial returns doesn't solely rely on stocks with significant movements. Instead, it revolves around effectively managing risk relative to reward. By appropriately sizing your positions and capitalizing on your advantage repeatedly, you can progressively work towards achieving your financial goals. This principle applies across various investment approaches, whether it be long-term investing or day trading.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
@@joshbarney114 I appreciate the implementation of ideas and strategies that result to unmeasurable progress. Being heavily liquid, I'd rather not reinvent the wheel, thus the search for a reputable advisor, mind sharing info of this person guiding you please?
Finding financial advisors like Marisa Breton Dollard who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Australia is still run like a prison colony, in that the population is there to maintain infrastructure and systems so that resources can be extracted. It still has a legacy of the political system viewing the people of Australia with contemp and at times, outright hostility. It's a very strictly policed country. The mining cartel funded police come down very hard on Australians who step out of line.
Several important facts have been left out. 1. Australian Domestic mortgage market is the largest money laundering market in the world. You can literally walk into an agent with a suitcase of money and no one asks any questions. That's why 3.5 million was paid for a place with no toilet as outlined in this video. 2. Successive governments on both sides of the house for the last 60.years have used the domestic mortgage market as the sole means to grow the Australian economy. It's literally the equivalent of the countries wealth riding on a sheep's back. We're still playing for sheep stations and we have no investment in diversified industries. 3. In 60 years there have been 84 house price increases. 4. And most importantly the banking sector in Australia is so in debt to the tune of trillions of dollars in the mortgage market that were house prices to be realistically valued the entire banking sector would collapse followed by the economy. The Commonwealth bank alone has 639 trillion in debt in just this one sector. That's more than Goldman Sachs in its risk diversified portfolio. In summary Australia is far from a lucky or clever country, it's always had a convict mentality. Big country, small thinkers. It doesn't even have a strategic energy reserve in gas while politicians sell off our gas for nix. The people are still arguing whether nuclear is a secure reliable base load carbon neutral, cheap energy source is a good while whining about energy prices. It has abundant resources yet the clueless and traitorous self caring politicians and their party's fleece its constituents. Tall poppy syndrome reigns supreme and everyone thinks she'll be right. It won't. People are more worried about pronouns and what gender they are, and the next fear campaign they can rally behind, while the aboriginals once again are used, this time as a proxy in a voice referendum which effectively was a corporate attempt to create a third tier of the legislature to by-pass the upper and lower chambers and allow corporate interests to directly influence policy. Hence wespac, Qantas and many others paid handsomely to support the Yes vote. Ultimately without a seismic shift in Australian attitudes an end to two party preferred and it's affiliates this land of milk and honey will dissolve into its nick name...the ass end of the earth and we all know what asses produce.
Australias housing crisis shouldn't exist, but it does because older Aussies are greedy and oppose new housing developments just to keep their house prices high. same story in most western countries.
@@gppsoftware I know someone who bought a decently nice house in 1999 for about 95k... The house is now worth 2.7m... Explain the double again mate? By your logic the house should be 190k in 2009 and 380k about 5 years ago... So currently in 2024, the house should be worth 570k. As someone who has been working for a bit over a decade since I started young, I would happily fork out 570k for that property. My savings and borrowing power can afford that decent and nice property...except I can't cause no bank would give me a mortgage since the place is actually just over 4.7x amount. A typical average house is about 910k+ now...which is still nearly doubled what that fancy property should be by your logic.
@@gppsoftware I know you said roughly but 4.7x is ridiculous. I understand maybe 2x even, but it's just way too high. Mate, even on a paying salary job, you can't afford a property on your own. There's a limit to your borrowing power based on your income. Having a partner helps but not everyone has a significant other. At this point, most people just want to be able to work towards paying off a place that will become theirs so they can retire one day. It's not even to find a place that will fit within your means. People who don't own property aren't asking for a mansion. They just want something to work towards that is achievable. Many people are currently struggling for a place to live because there isn't even any property on the market that "fits within their means". Even rentals aren't even lasting until the weekend inspections. I honestly do not know of anyone who has recently purchased their first property without the help of someone else such as friends or family. Most of the people who currently own their first homes within the last few years have inherited wealth from a loved one, have someone help with setting them up such as a deposit or have lived with family without moving out or moved back in so they can afford to save. I'm not asking for mansion prices to be lowered but am just mentioning that some form of compassion needs to be shown to help the current and future generations. Not everyone has such a great family that they were born into to help them out. What then? We just all sit back and watch those people work forever towards nothing? Slowly pay off their HECS if they attended uni and go homeless while properties sit there with prices so unaffordable that rent isn't even possible?
Immigration and wage growth isn’t the issue. It’s the monopolies running the country and boomers. They own all the shops, own the banks and own the houses
As a young 22 year old Australian, seeing how bad things are breaks my heart. It feels incredibly hopeless. The "lucky country" is dead. Even worse than not being able to buy a home is not even being able to rent. We have been FAILED by both major parties who have allowed the situation to get this bad, and still sit by!! Meanwhile the rich get richer and boomers blame young people. I used to be proud of being Australian. This is not just a crisis- it's an emergency.
We should look to Norway's sovereign wealth fund as a model to manage our mineral wealth to benefit all Aussies, rather than following the Congolese model of letting multinational corporations pillage our resources
Regarding housing: there is also the issue of land banking, where houses are sitting empty (around 100,000 in Melbourne alone) because the owners have no incentive to make them available. Making these houses available to the market would give us a head start on closing the supply gap, but the government would have to come down hard on property developers and foreign investors, which is unlikely when most politicians also have extensive real estate investments. They would have to release this supply over time to prevent a market crash which could tank the economy due to the amount of mortgage debt the big banks have, and the enormous weight the banks have in our economy. It’s a big mess that has gotten worse due to complacency and corruption.
The problem with houses is if you want an "affordable" home you need to buy a place way out from the main city that is borderline rural or major rural. These areas have zero infrastructure like roads, transport and facilities. New estates are being built all the time but the government and councils do nothing about building the roads and adding facilities. There's barely any internet or mobile coverage too.
Abolish negative gearing that will do a lot of the work of reversing the housing crisis but no government of any political party will do it because they put votes ahead of the greater good of the country
@@gppsoftwarebut then less people want to be landlords and so the prices of houses goes down transferring home ownership from landlords with multiple properties to people wanting to start a family
Well, I have bought 2 properties off the plan in 2014. They were brand new and my plan was to slowly pay them off by my retirement so that I don't have to rely on government money. I have been bearing most of their outgoings out of pocket as rent covered close to half. 10 years later, they are still negative and can't even sell for their original price. I have lost over 180k in 10 years after negative gearing. If sell today, one property in melbourne, I would lose another 100-120k instantly. So overall its a massive loss and a trap not easy to exit from. Some tenant lived for cheaper all this time. During covid some lived for rent free and after they lived at a reduced rent. I could bear all the costs from my pocket due to having a job. Now job market is also destroyed by the government. If I knew the negative sentiment we have today, I would have never added those 2 new properties in the market and that would be 2 less properties for rent. Negative gearing only helped to keep them going but never covered anywhere close to my losses. If I can sell them for the price close enough to what it originally cost me 10 years ago, I would sell them any day. Looking at your comment, it looks like you have no idea about how negative gearing works.
@amilarathnayake55 sounds like you took a financial risk (buying off the plan is generally a huge risk for so many reasins) and it didn't pay off I'm sorry it happens but we're in the housing crisis in part today because housing is viewed as a wealth building instrument rather than something that meets basic human needs if you had just bought one property to live in would you be in the same situation. I wonder that you were able to buy 2, if you had just bought one to live in, where would you be with paying off the mortgage almost paid, completely paid off? Being mortgage and rent free is a game changer. You took a gamble and used housing for wealth building instead of it's purpose housing...it didn't pay off, I'm so sorry to hear but you made the choice. I'm sure you wouldn't get any sympathy from people living in their cars, couch surfing in caravans they wouldn't even say I'm sorry l.
@gppsoftware but again housing prices will go down so more people will actually be able to afford to buy, which directly reduces the number of people who want to rent.
@@Bella34544 yes, investing locally adding 2 new properties was a mistake. Tenants keep breaking thngs and system is punishing the owner. Some people have very entitled way of thinking. Its hard to find responsible tenants these days. My mates invested in Dubai instead here and had a good return. Australian labour government wants us to spend and waste all we earn and be a burden to the tax system once retire. That's a parasitic way of thinking. I have no expectations on social security. My plan is to get rid of the local investment at the lowest possible loss and start investing overseas. Australia will become a comunist country one day. Victoria will get there first.
i just saw a tv show about people who rummage through garbage bins for food around the back of supermarkets at night...the tv reporters tried to show the dumpster divers in a positive light ...thats how bad things are getting
Housing is not an issue if the job market and wages are keeping the pace. However labour government killed the job market too. If you look at victoria, the situation is worse. The biggest employers in melbourne who earn every penny from australia (including big banks) offshored thousands of jobs last year while laying off way more jobs onshore. They then brought the permanent employees from offshore consulting companies and gave the remaining jobs in their HQs in melbourne. The guys who came are on state sponsor visas or some work visas. They get a permanent salary in their home country and get a small living allowance in here. Their goal is to live from bare minimum in shared houses and save all the money to bring back home. Can't blame them for doing that. The locals who lost the jobs, many are jobless for many months now. They have families, kids and mortgages here. I never blame people who come here to replace locals, they would go anywhere if there is a country that allows it to happen. The issue is with our local governments and the politicians who have never worked a job or run a business for their living. They are like parasites. Obsessed on destroying local economy but play with big toys like fighter jets, missiles - all come from tax money. After doing irreversible damage to economy, victoria politicians shamelessly increased their salaries and pensions. Current premiere Jacinta taking half a million dollar salary and Dan getting a pension close to that too. How can these parasites ever understand how hard working people and small business owners servived with their families. Never ever vote for career politicians.
If only Australian news outlets would focus on important issues Australians care about such as housing and recession instead of woke bullshit that is widespread across ABC and SBS! Labour party was actually about this once upon a time now all that is discussed is how can we use pronouns more effectively and consider different cultures better!
They do. Less insecure bias mate. It was the Greens that secured billions more in social housing and are the ones who are actually pushing housing reform.
Lol They have only been in power for 2 years. It's not like the Liberals didnt do anything to help out Everyday Aussies during their time in Government
This video is equally fitting if you remove all mentioning of Australia and plug in Canada. Intriguing to know why. The bright side perhaps is this is why Hugh Jackman and Ryan Reynolds seem to be a good match.
Yeah living just north of Adelaide (in a town) and rent has seen a 2-3x increase since 2019. Pushed out into a cardboard box pretty soon. Such is life...In Australia.
Melbourne where I live has been going the 'stack and pack' direction. People die off or move out, sell their quarter acre block, and 2, 3, or 4 units are put up in that block. There are numerous more houses/apartments in my area than there were 25 years ago, and those around me are living in more crammed spaces - so in that sense, it is moving in the European direction.
@@MrFastFarmerThe Greens have the least investment properties per MP out of any party and were the ones who forced Labor into billions more into social housing. Don’t let me media dupe you otherwise. The Greens have more power and have used it. The reason why you think anything negative about the Greens is because of that media bias despite those hard facts I stated.
There is no better alternative either. Greens is the worst. I can only trust some independent candidates who genuinely stand for a real cause. But future of australia is doomed with these parasitic politicians who have already sold australia to mining companies.
One of the big issues is that politicians have a lot of their wealth tied up in the property arket. So it's in their interest to inact policy that will increase land value
We are good at Cows, Coal, Gold and Iron. Yet suddenly weve decided to make ourselves uncompetitive in those markets and we are going to base our economy off a housing bubble instead.
@@mccallsensei3293 What bills? Can you show me what money the government makes off it? Because It certainly isn't making it off royalties or company tax. We've been somehow lucky with resources in the past, but we should be diversifying far away from these third world economy industries.
Jerome Powell literally said it on 60 minutes (maybe indirectly but anyone watching this gets it). Let's keep that aside. Everyone should have BTC in their portfolio.
I feel sympathy for our country, low income people are now suffering to survive yet inflation and recession keep increasing daily, many families can't even enhance the good cost of living anymore. You've helped me a lot Sir Brian! Imagine I invested $50,000 and received $190,500 after 14 days
Very possible! especially at this moment. Profits can be made in many different ways, but such intricate transactions should only be handled by seasoned market professionals.
Some persons think inves'tin is all about buying stocks; I think going into the stock market without a good experience is a big risk, that's why I'm lucky to have seen someone like mr Brian C Nelson.
Other issues that are contributing to the cost of living are monopolies/dualoplies in vital sectors such as food, travel, energy and gas providers and telecommunications with little to no regulation. A biased mainstream media monopoly also hides this issues so a content or apathetic population means nothing really changes.
Even when we made cars in Australia, the money went offshore. FORD GM Toyota got massive closure prevention payouts to keep the doors open, with a massive luxury car tax to help compete, and the factories closed anyway. If it isn't Australian owned and operated entirely, it is just going offshore. We need to do better.
Another interesting reason for falling productivity is the way in which productivity is measured in the mining sector. Productivity is generally measured in terms of growth in units of output, so if the price of a commodity increases productivity won't increase as the workers are still producing the same output of that commodity. However at the same time the higher commodity price also encourages opening of less potentially productive mines, as although these mines may require more inputs to produce the same output with a higher commodity price it can be justified.
In light of the ongoing Australia global economic crisis, it is crucial for everyone to prioritize investing in diverse sources of income that are not reliant on the government. This includes exploring opportunities in stocks, gold, silver, and digital currencies. Despite the challenging economic situation, it remains a favorable time to consider these investments.
The pathway to substantial returns doesn't solely rely on stocks with significant movements. Instead, it revolves around effectively managing risk relative to reward. By appropriately sizing your positions and capitalizing on your advantage repeatedly, you can progressively work towards achieving your financial goals. This principle applies across various investment approaches, whether it be long-term investing or day trading.
Even with the right strategies and appropriate assets, investment returns can differ among investors. Recognizing the vital role of experience in investment success is crucial. Personally, I understood this significance and sought guidance from a market analyst, significantly growing my account to nearly a million. Strategically withdrawing profits just before the market correction, I'm now seizing buying opportunities once again.
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Well, there are a few out there who know what tWell, there are a few out there who know what they are doing. I tried a few in the past years, but I’ve been with *Gertrude Margaret Quinto* for the last five years or so, and her returns have been pretty much amazing.
haha, we wish, but the govt who allowed this all to happen over decades doesnt have some magic wand to fix things. wages continue to fall further and further behind rising hosuing costs, the cost of living. fact is we are in a real life game of monopoly, and for anyone has played it, we know how that ends. someone holding all the cash and everyone else in tears lol :/
you forgot in that picture we now have 400,000 homes being used for B n B rentals and unoccupied as a residential home , that has affected the market too.
Australia has grown so reliant on mining and the housing market's boom. Unfortunately, a less diversified economy has rendered Australia intractable issues despite being relatively prosperous.
@@ChineseKiwi no, a few investors are putting everything and anything on buying properties, as it never comes down before. They go all in. double the stamp duty every time they buy another investment property would help
Why should our cities keep expanding to accommodate a population Ponzi scheme? You said it at the beginning, “Australia is beautiful”. Have you seen the distant suburbs of Melbourne? Do you remember what lay there before these McSburbs were built on our beautiful green land? I highly doubt it. Perhaps take a drive out there and then tell me how beautiful it is. Why does everyone think just because Australia is big that we should just keep expanding our cities? We have wildlife the world envies. There won’t be much left if we cover it in concrete and allow humans to shit all over it
Been to the burbs when I lived in Melbourne. I was shocked. Urban sprawl gone mad, with a complete lack of services in these areas, only accessible by car. Huge potential for crime, as the youth have nothing to do, and nowhere to go. Now I live in South Korea in a high rise apartment, as most do here. With access to goods and services very close at hand. Very convenient and practical way to live over here. South Korea’s population is double Australia’s yet still has an abundance of beautiful natural spaces. Your summation is entirely correct.
For there not be much countryside left in Australia - the population would have to be over a billion. Check out Google Earth - 99% of Australia is noy built upon. It's because of people that young people can't get a house, and that we're choked with regulations.
@@karlcotleanu486 thank god someone knows what I’m talking about. Building for the sake of building just to satisfy population growth without the input of IQ
Don't blame you. Soon as we can afford to leave I will be also. My mum is from the Philippines so I'm not blinded by 'straya is the best country in the WorLD camp'.
@@NoobTube4148 haha yeah I'm in Adelaide and the beaches are nothing special. I've been to 100x better beaches in Thailand, without having to pay $10 for a beer or $10 for a tiny ice cream cone. The only good thing Australia has going for it is mining, which I'm heavily invested in and will eventually be my ticket out.
@@JasonISFI'm Thai living in Adelaide. And Adelaide is heaven compare to Thailand. In case you didn't know minimum wage in Thailand is 300 baht/day or about $AU 15/day and that's why is cheaper. Local people working for a whole day couldn't afford to buy a large side big Mac over there. We should swap a country cuz to me Adelaide is heaven. Here in Adelaide I'm working full time at chicken factory and still afford to go travel around the world once a year. In Thailand you work in factory you can't afford to put 3 meals for you family.
I am happythat I didn't move to Australia when I had a chance in 2005. I have worked there and found people very laid back and not easily frazzled by anything. Maybe, that attitude has caused all its problems. But it is a very beautiful country.
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This video has been real quiet about companies' price gouging, and housing companies holding onto housing supply to drive up demand. Pretty much private companies are ruining Australia
Mate around the world Australia is hardly portrayed as a paradise, more a "everything wants to kill you hot hell hole", the local media pushes the paradise narrative.
Shout out to Emerald real Estate, are you local? Weird picture to use in the video haha
Caused by the world economic Forum!
@@liphrium9858very true, another thing isn't just private companies but government funded private think tanks like the Gratton and Lowy institutions that have a say how and where the tax money is spent.
The real problem is that Australia is always busy solving short-term issues on a superficial level.
100% gentlemen
deny, divert, distract. 😐😔
@@gppsoftware We've been held hostage by Mining, Banking & Property. We're so eff'd when those pillars collapse because it's unsustainable. The value is illusionary i.e. playing with numbers - ponzi scheme.
Because every idiot still watches mainstream news and thinks one of the 2 parties are going to solve an issue that they both are vested in not solving…
Royalties have been decreased at an alarming level. Given it all away at our expense. But the politicians or ex, have a fantastic paying job after politics
The biggest problem we have here in Australia is the weak politicians that just want to exploit taxpayers for their personal gain
Wrong. The biggest problem you have is that the people of Australia are weak cowards. The politicians represent you perfectly.
I'd say the bigger problem is those that vote for them.
And no "They're all the same" about it. We had politicians who proposed higher mining royalty taxes so that Australians kept more of our mineral wealth in the country, rather than it being given to foreign companies. We voted to keep those politicians out of power.
We had politicians who proposed reworking the housing taxation system so that housing was less of an investment vehicle, and closer to a utility. We voted to keep those politicians out of power too.
The same has been true of effectively every issue and policy that could have improved Australia's current situation. We've had politicians who proposed and went to elections on those promises. The Australian people rejected them every single time.
We're reaping what we have sowed. It'd be nice if we could just blame politicians for this, but we get the politicians we elect. We have consistently elected against our own long term interests, and eventually that catches up to a country. We're the country of "Don't rock the boat", stuck in a changing world but not willing to ever do anything differently. We are the lucky country whose luck may have finally run out - and because we always just relied on that luck rather than planning for the future, we're likely in for some pain in the coming decade - but that's what we voted for. Its what we decided that we wanted. Frankly, we have noone to blame but ourselves (As a country, individually you may have voted for policies that would have helped the country, but unfortunately the majority of the country did not).
Too many British immigrants
Well if they were made to wear the names and logos on their clothing of the sponsors like socker players, no one would listen to their lies.
By now it would not even be in english. The only national ties to this place are their personal property portfolio. Try to talk some sense into them is like talking to frog to drain the pond.
Theres to much butter chicken we have enough uber drivers@_permanence
Norway invested what they received from selling oil into now what is the largest sovereign fund. They started investing 30 years ago, the fund has been compounding nicely. Every norway citizen is virtually a millionaire thanks to that decision. What did the australian politicians do with the money received from selling iron ore coal and LNG? Nothing.
When the government tried to implement a super profits tax on the resource and energy companies there was a massive propaganda campaign against it claiming that it would destroy the industry and customers would buy their commodities elsewhere and Aussies would lose their jobs.
A few years later there was a downturn in the iron ore market and countless people lost their jobs anyway.
@@ViralWeb-so8cl Excellent points.
The political zeitgeist is not the same.
As soon as the politicians have the money to pork barrel the marginal electorate, they will.
If they can borrow from our children’s future to pay for things now, they will.
Every single person is guilty of this BNPL mentality
They money went back to the corporations - look at how much tax Santos paid in 21/22 financial year. We are just as corrupt as Venezuela, we just have more money to go to welfare so it’s not as noticeable…
They built a 3rd world hack job of an NBN.
The cost of a house here is out of control and people only have themselves to blame toasting each other about how much their house is worth when the only real winners are the banks and real estate agents.
People buying houses like it's toilet paper.
Australian can be rich by flipping properties between each other at an ever increasing price. 😂😂😂
So true, 👍
i read a comment by a guy who said his property's value gained 100% in just a few years. But then he says all he really gained is he now has to pay higher council rates and high water bills. Whether your PPOR is worth $100k or $10m, it doesn't make much difference in your day to day life. It could be worth $10m, it doesn't necessarily mean you live like a king. As you say, the only winners are the banks first, then insurance companies and the gov. And a few well informed property investors maybe.
@@johnsmith-ro2tw very well said. And the other problem is that the house gains in value but if you sell it you will have to pay a higher price for another house similar or better.
All I know is, $2 hot chips wrapped in news paper doesn't exist anymore :(
The good old days 🎉
Go to macdonalds instead
@@supa3ek just not the same
@@supa3ek why the f.... lol
Pretty sure you don't want your fries having news articles pressed on due to the chippy grease saturating the newspaper ink. 😂 fk it all in no fks given bros much love from NZ 🎉
Australia's economy is more primitive than many think. Yes we have a large resources sector but due to poor government policy foreign companies reap the benefits of our rich natural resources far more than we do. Australia doesn't have a big "value add" industry. We send the resources overseas and countries like China + Japan do the value add and sell it back to us.
Regarding housing, supply & demand are a huge factor but also poor government policy means housing is seen as an investment first and a place to live second here. The return on capital is often better on housing than other assets and with much less risk than starting a business or buying individual stocks.
I see self interest & laziness from our politicians as the key contributing factors:
Self Interest -- many politicians own multiple investment properties so have no personal gain to slowing rising house prices thus do nothing to help. Further, there is a quid pro quo where politicians will do backroom deals with industry to implement poor policy or no policy then work for these industry bodies when they leave politics in high paid "consulting" roles.
Laziness -- reforming an economy is hard work. Permitting mass migration to grow the size of the consumer market to juice GDP (but not per capital GDP) is easy.
I'm fully aware of what you said. I couldn't have said it better myself.
Very apt summary. I'd add in that we are also privatising what used to be publicly owned and generate government revenue, but now we often aren't even collecting tax on the private companies that buy it and gouge prices.
Totally agree, foreign resource owned companies are fleecing the wealth of the country. Australian's do not benefit at all from all this wealth. Any royalty paid is wasted by governments.
Exactly
Great points!
Theres alot of poor australians living in campervans because they cant afford rent.
Yep, wife and i will be living in a old bus as soon as I can get it live able.
well to be honest there are a lot of full time employed who are now homeless.
Whilst immigrants happily have ten family members sharing a home so to speak and contribute a smaller share in rent, pushing " aussies" rural or homeless.
and the ones who couldn't afford caravans?
@@bobisu3111 well we know what happens to those poor buggers, you see them in parks etc with tents (if they're lucky) and old tarps.
Being an Aussie that has left for more than 2 decades and recently returned temporarily. I see how bad Australia has gone downhill in every area except the freshness of the air. So many more homeless people and people with mental health issues and just a lack of general optimism in the youth of today, many of whom i work with. The cause is totally the government's fault. Firstly, selling off all the government owned infrastructure and departments to fund their political promises, thus losing any future ability to generate revenue and control on basic costs of living for its citizens. Secondly, the stupid citizens (like myself, i still postal voted) voting for these parties without realising how they funded their election promises. Now that everything is privatised, the government doesn't have the money to invest into massive infrastructure projects and just keeps funding silly feasibility studies, like those for the high-speed rail. A high-speed rail corridor opened from Sydney to Melbourne, via Canberra would open up so much land for housing it would bring the cost of housing down in the major cities of Sydney and Melbourne Imagine living 150km from Sydney and being able to get to work in 30 to 40min. Of course, this will never happen as the politician will leave it to private enterprise to fund and operate these projects, making the fares so expensive that the end user pays ridiculous amounts to use such services. And risk a drop in house prices in the major cities, oh no, we (govt) cannot allow that to happen because we get taxes from the housing prices being so ridiculously high. Take driving from mascot to marsden Park costed me $30 in tolls taking 50min otherwise not using tolls would be 1hr 40min. Ok, there is a toll cap per week. But I only drive it once a week, so return trips. I barely get any relief. Everything the government does is such a money grab here, for a government to derive so much of its revenue from taxing its citizens is unsustainable when without immigration the pool of tax payers is reducing and will continue to, until someday immigrants get fed up and leave because they cannot afford anything and are stuck in a never ending cycle of paying off their 1.5m house, travelling 2 hours one way from their work places paying minimum wage. The lucky country? Sorry, I will be heading back overseas as soon as I can. What is the government's plan for Australia as a whole for the next 20 years? No politician can answer that as they will be already out of politics and getting their parliamentary pension whilst sitting on the board of some private company that won the contract to build the infrastructure the govt should have built, owned and operated itself in order to control prices (at least for the basics like power, gas, water, transport, roads, airports, and the list goes on...) sorry for the long rant, but really, this doesn't feel like the australia I left 20 plus years ago. The quality of life has at least halved for the wages earn today.
Spot on
Gov has the money. It is called a printing press.
wow this is very informative and makes a lot of sense
Peter Dutton has a plan to build nuclear energy and then sell it.
Where have you been living for the last 20 years and how does that compare to Australia?
Its worse here, our economy is like a flailing fish, fighting for its life. The normal state of the U.S. economy is actually very bad. Because of this it goes into convulsive spasms fighting to grow any way it can out of desperation. Tricks, gimmicks, rule changes try to stimulate the economy and prevent it from falling but they only bring temporary relief to people since, when you factor in inflation we are declining.
People believe their currency has the worth it does because they have no other option. Even in a hyperinflationary environment, individuals must continue to use their hyperinflationary currency since they likely have minimal access to other currencies or gold/silver coins.
Inflation is gradually going to become part of us and due to that fact any money you keep in cash or in a low-interest account declines in value each year. Investing is the only way to make your money grow and unless you have an exceptionally high income, investing is the only way most people will ever have enough money to retire.
“Rebecca Nassar Dunne” is who i work with and she is a hot topic even among financial elitist in California. Just browse, you’d find her, thank me later.
Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.
The continuously changing economic conditions in our society have made it necessary for people to find additional sources of income, thus I am looking at the stock market to fuel my retirement goal of $3m, my only concern is the recent market crash.
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You're right, I and a few Neighbors in Bel Air Area work with an Investment Adviser who prefers we DCA across other prospective sectors instead of a lump sum purchase. As a result, my portfolio has recorded significant improvement even during the most unfavorable market season.
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Thanks, i did a quick web search and i found Sharon, i hope she responds to my mail.
You say it takes 13 years for the average person in Australia to save a deposit to buy a house. Problem is, after 13 years the price of said house will have more than doubled, and your deposit won't be enough. House prices in Australia are increasing faster than people can save.
To say nothing of how much older you'll be and thus have a shorter amount of working life to pay it off. So higher payments will be needed again to compensate for shorter loan duration.
and you become too old to get a loan by then altogether
Coming from New Zealand (Auckland), Australia's house prices are ridiculously affordable. Melbourne is about 50% cheaper for an equivalent house size vs Auckland. Salaries are 30%+ higher, groceries are 10%-20% lower, electronics are 20% lower, there is a working public transport system which is much cheaper than owning a car. My partner and I moved here a week ago and have been shocked how cheap things are plus how high the salaries are, and overall how good the quality of life here in comparison. Australian's just don't realise how good they have it.
You can do it in 13 years 😂 if you earn $200k a year and live with mom and dad.
@@MrMsr13It's relative though. NZ has poor economy and weak currency.
Australian here - it's so much worse than you think, it's borderline unliveable. You can just see it on people's faces that everyone's had enough, it's just pain day after day.
That's why leaving is imperative
Seriously, just pack up and leave. There's better places to be. I did that. Made a few smart investments and am now cruising. Back in Aus I would have died with a mortgage.
@@timkdiamond 100%
@@timkdiamond Where did you move if you don't mind me asking?
I had moved to Sydney in 1986 as a young Dutchman, but after obtaining my permanent residency, I left Australia for good in late 1989. I moved onto Vancouver, Canada instead, and been in Canada ever since. I loved the Aussie way of life and the climate, but I liked Canada equally. There are a lot of Aussies moving to Canada recently.
As an Aussie, I gave up on owning a house twenty years ago when they were asking $900K for a house that was worth $70K a generation ago.
Cost of living certainly has become deeply inbedded and insidious. Our grocery bill is almost twice what it was 5 years ago.
The lucky country is now only lucky for a very few.
Mate if you were looking at 900k houses 20 years ago you were clearly looking at the high end of town. You could get a good home in Sydney for $500,000.
we bought our average home twenty years ago for $200k!
had a bloke at work today tell us how he got knocked back at the bank today due to not being able to service the loan for a 3 bed 1 bath 1 car house in the outter northern suburbs of brisbane with a 20% down payment his repayment would be $5300 per month he works 38 hours a week and that is almost equal to his take home pay. 0 kids, no partner, no debts and that is what it is now its completely cooked now.
You gave up too soon
Lol 900k, 20 years ago? Sure.
Any time anyone talks negatively about immigration, it’s important to remember that the government controls that and they allow the high numbers at behest of those poorly-producing companies that want cheap labour to drive real wages down, but aren’t obliged to provide any housing support.
THIS COMMENT NEEDS TO BE PINNED AT THE TOP. 770,000 IMMIGRANTS LAST YEAR AND NO HOUSING ACCOMODATION PRIOR OR AFTER TO ACCOMODATE.
It's not cheap labour though , most of them have qualifications and are being paid the same amount as the Australians with the same qualifications.
They're focusing too much on university degrees and not enough on trades. Forty percent of our construction industry will be retired by 2031.
@@hayden6056 being paid the same amount, sure. But simply through having sheer volume of qualified workers, wages stay down.
Also, a lot of immigrants may be more easily exploited due to lacking English skills or fear of losing their visa and more. I’ve had an employer who keeps trying to cheat their employees out of greedy cost cutting and we’re almost all native-born, normalised to the system and with good English skills. Despite that, only one or two people stood up and actually pushed back against the wrongdoing. The rest either didn’t understand what was being done to them, or feared losing their job over losing a few dollars.
Now imagine that but also you don’t have even a layman’s idea of what’s normal and appropriate, you don’t know where to go to find out if you feel something is wrong, you maybe barely speak the language and if you do understand and know you’re being cheated - standing up for yourself may not just lose you a job but also your place in the country, or even just money that your family back home need to live or for medical treatment, etc.
@@hayden6056that's not true look it up
It's not cheap labour it's a consumer and business relationship between government agencies banks and political parties .Were sovereignty not exist then automatically it's a autonomy Too many different laws and equality does not exist,but if Ozzie's ever been interested in this system i do not think they are .What a turmoil with union.Good on them !! The media is writing what suits the government and corporations.I am thorn in the hands of this system!I
Australians haven't seen any royalties from our coal, ore, gas or gold! The country where corporations pay little to no tax and government employees make the rules then go work for those corporations! Corruption is disgusting in this country.
Sounds like america
Sounds like India.
Polly's working for the next job
Sounds like Spain
You got no idea what you are talking about....none !!!!!
Interesting that such a under populated country like Australia and an over populated country like the UK are experiencing much the same problems….
It’s cause they are both part of the common wealth Canada is having troubles too
Omg why 😢@@jeremywoessner8136
That's what happens when you underinvest thinking you're Goldman Scahs in NYC but you're AIG in Pakistan
uk is not overpopulated at all, its quite sparsely populated everywhere but in london
@@bobgeels262uk is definitely overpopulated
What has changed in Australia since the sixties? The death of the housing commission and the financialisation of the property market. What other impacts could you expect after sixty years of mismanagement?
Well said
@@arkyark8 Lets not excuse real estate agents...they are not innocent in all of this.
@@sergedinatale7241 I totally agree, they have a worse reputation than American lawyers. Take a look at any Real Estate agents stock list and the marketing is geared towards investors $$$. It makes me sick.
@@sergedinatale7241 Real estate agents are right in the thick of it, they're loving the commission, and happily helping push the prices up.
@@sergedinatale7241 REA Are the scum of the earth.
This administration is putting many families in difficult situations. A lot of people are financially struggling to live, put a roof over their head and put food on the table. Things are getting worse these days, if you don't find means of multiplying your money you might wake up a day to realise you didn't plan well for yourself and family…
I agree with you and I believe that the secret to financial stability is having the right investment ideas to enable you earn more money, I don’t know who agrees with me but either way I recommend either real estate and stocks..
I’ve been diligently working, saving and contributing towards early retirement and financial freedom, but since covid outbreak, the economy so far has caused my portfolio to underperform, do I keep contributing to my 401k or look at alternative sectors to meet my goals?
@@kaylat63 Understanding your financial needs and making effective decisions is very essential. If I could advise you, you should seek the help of a financial advisor. For the record, working with one has been the best for my finances...
Understanding your financial needs and making effective decisions is very essential. If I could advise you, you should seek the help of a financial advisor. For the record, working with one has been the best for my finances...
How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.
The problem is simple and can be seen all over the world (Australia, Europe, Canada, etc.). The rich are getting richer, the poor are getting poorer. The rich would have us believe that the problem is immigration, we believe it, they've won. It's as simple as that.
It’s a mix of immigration and slow house building. If you have 5 people and 10 homes the landlords compete with each other to get a customer = lower price because getting less money is better than nothing. If you have 20 people and 10 homes the renters compete with each other to find a place to live = higher price because they pay more to get picked over other renters. The only way to solve this is to build more homes than there are people. The problem is we have more people entering and can’t match that number in how fast we can build homes. The result is even higher prices. So we either build houses faster or slow down immigration. For some weird reason our government isn’t doing either 😂
@@OfficialMarcusLy could that weird reason be that politicians have extensive real estate portfolios and benefit from rising house prices? It certainly would be weird if they used a conflict of interest to benefit themselves, wouldn't it?
Immigration is indeed part of the problem
I agree. In the US we think the politicians are running the government but in reality the rich run everything. Instead of using their vast wealth to improve society they use it to line their own pockets by influencing or should I say paying off the government officials. The old saying the rich get richer and the poor get poorer goes for the middle class also. This is happening all over the world. Good luck Assies, we will all need it before it is over.
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If democracy is so great, how does the government just “ignore" these problems for multiple decades and by both parties, I think I see what is going on.
Democracy is great when it works the government gives a toss about us peasants.
The form of democracy we've fallen into being 'election democracies' barely resembles the philosophical grounding of a government by the people. Contemporary Western governments aren't beholden to opinion at all anymore, all that matters is the calculus of choices that results in 51% of votes in 4 years time. They have no reason to give a shit about anything that doesn't happen to influence election chances, instead of governing for the political and economic good.
It’s democracy for the rich only.
Woke and Feminism hahahahhahahaa
Two words: *Corporate Lobbyists*
It all boils down to mediocre governments populated by mediocre politicians since the early 1990’s, which was when our last reforming government was in power. We have governments that can’t look beyond the next election and to be quite frank, are completely out of their depth when trying to manage the multiple issues the country currently has and those that are forming on the horizon. The days of the “lucky country” are coming to an end.
@@indoman8887 And, parliaments over populated with lawyers, who rarely have practised law or have never competed in a real workforce.
👍Mediocre governments populated by mediocre politicians would be an improvement. I believe those guys got pushed out by the diversity phase/committee. So for the last decade we’ve had substandard second-rate, incapable, almost entirely lacking, flawed half wits. Driving the lucky country further and further into division, fractionalization, disharmony, and disunity. All during the most dangerous time in modern history.
While I agree with what your saying at the same time we the Australians vote down any politicions who do come to an election with large reforms. Just look at the 2014 (I think it was) election labour got eviscerated for daring to suggest to change negative gearing
I'm an Australian living abroad and feel like I can't really move back because there's no way I'll buy property and battling with 100+ other people to try and rent a specific place seems too daunting. I'm sad because I miss the culture and beaches. Guess it's no longer 'the lucky country'.
Culture? That's disappearing too. You're not missing much. Straya is done.
I’m in the same boat mate, born and bred Sydney and left in the mid 2000’s. Would love to go back but cost of living is just far to high! No point living in a city with great beaches and weather when the majority of your money is going on house repayments….
never was the 'lucky country' especially for the real australians.
@@VINNYMAC.-tj4bewhat exactly is a 'real' Australian?
I'm an Australian still living here, stay gone I dream of leaving but I can't afford to leave because there's no jobs
Moving to and living here for a decade, I think the problem of this country is that nobody is ambitous about anythin, the government and people are conceited and self-satisfied. People here may complain about many things but don't really have a determination to change anything.
The actual Australian population that aren't migrants or international students are quite old from memory... Idk if statistically, this has changed but if that's the case then they've all worked their time and have houses so of course they're self-satisfied.
I do agree with you. No one is ambitious about anything here.
We're still waiting for approval on solutions to problems that have existed forever or we knew were coming 20 years ago. By the time it gets approved, newer problems arise.
This country really doesn't think about the future. The future has arrived and look where this country is at....
we have the same problem in canada. Commonwealth countries suffering from horrible leadership
Our economy is like a flailing fish, fighting for its life. The normal state of Australia economy is actually very bad. Because of this it goes into convulsive spasms fighting to grow any way it can out of desperation. Tricks, gimmicks, rule changes try to stimulate the economy and prevent it from falling but they only bring temporary relief to people since, when you factor in inflation we are declining.
Inflation is gradually going to become part of us and due to that fact any money you keep in cash or in a low-interest account declines in value each year. Investing is the only way to make your money grow and unless you have an exceptionally high income.
If the unemployment rate is able to remain steady while the Fed hikes and inflation falls back to target, a soft landing might be on the table
Thinking of how difficult it is to get a job, I think it’s time people start investing and earning their own money, the heartache from job hunt is quite unbearable, I for one would prefer investment than getting myself worked up on seeking a job
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I remember a time when Australians made real products but now all of our "productivity" is nail beauty bars, gyms and carer positions. Its like we pay each other to scratch our noses and its counted as a growth in GDP. The only things of substance is iron ore and gas and the honeymoon period for selling that to China is now over. I'm afraid its all down hill from here.
Australia has no productivity.
The workforce is full of fucking clowns that go on their phones 24/7 and party every weekend.
When Australia made real products we had high tariffs to protect inefficient industry and Aussies paid top dollar for B grade products .
@@Minchya Now The government keep the luxury car tax in place to punish people succeeding in life. LCT was there to save the Australian motor industry
Australia's GDP is the housing market, that's why they won't let it come down for any reason, at least not until after the Boomers die.
Australia used to make our own Aircraft, some Ships, and a high percentage of Cars and other Vehicles were also manufactured here. Now our main exports are Iron Ore, Coal, Natural Gas - with very little added value. This leads to a de-skilled Work Force. 87% of Australia’s Natural Resources are owned by the US, UK, Canada, Japan, and China (in that order). It is easy to see why our National Debt is so high.
For the first time Australia has seen a rise in corruption. Most people working in key places are corrupt. This might contribute to the down fall in economy.
it may be the first time you seen corruption, but it has been there and running rampant for a long time, why do you think we are going downhill?
Yes
@@KiraKira-n9y it's great to see that someone else is seeing what is going on. Thank you
Yep it's all across the board all the way down to bottom level, corruption is rife
I’m Australian citizen. Walk outside and there are people everywhere! Too many people ! And not enough houses. We are screwed. No upward movement in jobs. Can’t buy a house. It’s chaos. Nice to visit but not to live.
Went to Perth a few months ago and I've already left. Totally not worth it.
You clearly live in the inner city lmao.
Try driving just from Sydney to Melbourne and see how many hours of wide empty space you come across.
@@jonnies Australia could have double to population and there'd still be a crazy amount of space. Its just that's not what the pollies want and they'd rather keep shoving everyone into the big cities and keep expanding urban sprawl.
@@DEadSpaCE211 it's actually people voluntarily shoving themselves into the city. Urbanisation is a global phenomenon - modern people prefer the city over the country. If anything the government has incentives in place to attract migrants to work rural before they can apply for citizenship.
Take responsibility for yourself. I moved to the country and there was nothing stopping me (or 'shoving' me back towards the city).
I have many empty bedrooms in my mansion in Sydney, poors can go back to where they came from lol
Hello, I want to start investing, but I'm unsure where to start. Do you have any advice or contacts for assistance?
The truth is, you can't succeed without a reliable person like Naomi
how can I reach her?
she's here on wasap👎
+140
549
When your government signs up to buy $368 billion in submarines, just because the submarine salesman told us it'll keep us safe.
Couldnt agree more.
the salesman occupy a rent-free spot in the middle of the house too, he owns that room, not even the house member can come in that room. (Pine gap)
C'mon man! That's only $15k per capita. Cheaaaap!
sounds like "fallout 4"
@Inspireworkshop They're so we can protect our trade routes to our biggest trade parter, from our biggest trade partner.
Another issue not mentioned here is that the majority of parliamentarians own many houses sometimes 20+. Our PM makes 100k a year from renting alone. This conflict of interest would mean our government would not be that interested in solving the housing issue as a large portion of their wealth is tied into housing.
If you work as a teacher and your child attends your school, you're not allowed to teach their class, if you apply for a job at a nursing home that your parents live in, they won't hire you. Why can someone who owns investment properties write housing policy?
Prove it !
@@StellaShiffer-u6w use google yourself, not going to spoon feed you.
in other words they are corrupt!😮😮😮
who owns 20+ houses i call BS on this
Great video - as an Aussie I can say our economy is well and truly going down the drain.
Have a friend down in Toowoomba, QLD. Inflation is killing Australia. Their cost of rent is out of control even in the smaller, more rural towns like hers. Petrol is expensive.
Why aren't we drilling our own oil and buying it for cheap - if it's ours?! Stop selling our gas for cheap, use it here, etc.
Because you can't use crude oil to fuel your car. there lots of proccessing that is not cheap. especially if there is no oil refinery in your country.
@@kudajingkrak4919 diesel fuel processing from crude oil is easy, cheep and anyone can diy in their backyard. 😁
Easy come Easy go!
@@kudajingkrak4919yeah. But why? Why isn't Australia refining?
@@georgythomas8451 Maybe because we dont have any oil Bass strait dried up years ago
Australia period of reliant to China as major supplier of raw materials had ended . The coming economic difficulty for Australia has just started and it will not be pretty and prosperity like previous 40 years
Good, they can’t stop stealing all our properties
not reliant on China but what next? there is no substitute to.China.
So true.
@xw8462 we are reliant on china. Australia has no domestic refinery capability, meaning all the resources our government pulls out of the ground are sold raw. We sell iron ore not steel for example. If china dont buy it then we need to find someone else with a large enough industry to convert those raw materials to something useable which would take years.
Our government are brain dead goons who are bleeding the country dry of its natural resources without actually investing in domestic production. They sell coal and iron ore then buy back finished product at a higher price.
@@xw8462maybe India in a few decades?
It’s simple. The big mining companies and ultra rich pay no tax. And the government has not invested in providing affordable education for improving Australian skills and higher technology industries. Plus negative gearing in property investment means all that Australia does is dig up resources and the rich invest in properties. Regular people are being kicked to the curb by our sold out corrupt politicians. I came back to Oz after living overseas for five years and it’s like a different country in terms of cost of living and quality of life. Medical treatment is impossible here now too. We have basically become a neo liberal corporate state like Ronald Reganomics dreamed of. The rich get richer and the poor get ruined. What is really disgusting is that the politicians are quietly encouraging xenophobia and racism by allowing Australians to blame all these woes on immigrants and foreign students. Blame the ultra rich not migrants!
"The big mining companies and ultra rich pay no tax" This is incorrect. Stop falling for left-wing BS and go and look at the facts. The rich and the large corporations pay most of the tax.
But the immigrants do also play a part in this, but yes they are being used.
@Freedom_from_impour politicians won’t as they have caused artificial scarcity for housing as most of their wealth lies within the real state market.
@Freedom_from_imp We can't because no one can afford anything.
The building businesses have all gone bankrupt 😂
Ignoramus, the migrants coming here ARE ultra rich back from their countries so they're also rich here in Australia and become part of the other upper and better off middle class.
The problem with Australia is that the country is economically rich, but culturally poor. It wasn't rich because of the people's merit and hardwork, but through our naturally occuring resources. The people aren't as educated as they think they are, infrastructure is outdated and cultural thought is embarassing old compared to the rest of the world, there isn't a culture that promotes and rewards excellence since everyone is leveled down to fit into the mentality that we are all equal, equally stupid, you aren't smarter than me, smart means nothing anyway, Government will take care of us, Government knows best mentality because the Government wants to dip their hands into the citizens money as much as possible from every angle, noone wants to work hard, it gets taken away and placed into poorly planned and executed projects and lazy people fall back to Centrelink. Job opportunities suck and we don't have anything to offer to the world that was crafted through our own innovation. We literally have no Global Brand, although we have resources, we can't even effectively use it, resorting to exportation. We have the best meat and seafood, yet our own people can't enjoy it, instead delegated to frozen brands, because the actual good shit is being sold to international markets. We are uncultured and once the resources run dry, will the people make up for those losses? A lot of talent is already moving to other countries where they will be rewarded or can better utilise their skills, without all the bureaucratic red tape.
'Government wants to dip their hands into the citizens money as much as possible from every angle, noone wants to work hard, it gets taken away and placed into poorly planned and executed projects...' Indeed.
Mediocre governments populated by mediocre politicians would be an improvement. I believe those guys got pushed out by the diversity phase/committee. So for the last decade we’ve had substandard second-rate, incapable, almost entirely lacking, flawed half wits. Driving the lucky country further and further into division, fractionalization, disharmony, and disunity. All during the most dangerous time in modern history.
Bad beer, stupid sport shows and 99% of the sheep are very content.
This! You said it. This is the truth about life here.
@@theluckyegg3613 that's the problem, the sheep are too content while the government is fucking them up the arse. Every nation is made up of sheep, but the difference is Aussie sheep are way too content with a $100 free for you good citizen in the bank this year.
This is spot on. It is going to take decades to fix this broken economy. We are so myopic and the policies are so bad. Damn politicians, days for nation building are over in Australia. Only selfish short term gains.
Fantastic video! I have incurred so much losses trading on my own....I trade well on demo but I think the real market is manipulated.... Can anyone help me out or at least tell me what I'm doing wrong??
Same here, My portfolio has been going down the drain while I try trading,l just don't know what I do wrong. .
Investing with an expert is the best strategy for beginners and busy investors, as most failures and losses in investment usually happen when you invest without proper guidance. I'm speaking from experience.
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Wow, I'm surprised to see Janet mentioned here as well. I didn't know she had been kind to so many people
I'm also a huge beneficiary of her..
I thought myself and my family were
the only ones enjoying Janet
trade benefits
130k isn't the average income at all!!!!
Full time average worker in Sydney and adding in super and benefits gets you to about 120k
$43k for me, guess I'm screwed... haha
$120k is average HOUSEHOLD income, not individual.
@@JasonISF $73k combined in our house, guess I'm still screwed... Haha
That's the average in a place like Canberra
The big rise in house prices in Australia is caused partly by the speculative buyers . There was once a time when houses where somewhere for people and families to live , but now houses are a way to get rich without working. We have a bizarre “futures” market in realestate , and vast amounts of capital flow into the market, forcing prices up as in any market , it’s been correctly called a “ponzi” scheme .
Government policy has made it worse , tax breaks for so called “investment “ properties etc.
But this was expected as the manufacturing industries declined there was a lot of capital looking for somewhere to invest, as houses increased in value this encouraged more investment and a vicious circle ensued.
The final straw in the comedy of errors was the big increase in immigration coupled with an increase in wealth from exports of raw materials , more money and more buyers forces prices up.
Politicians will do nothing because they are the speculators making money from rents and capital gains even the Prime Minister has rental properties.
Australia needs to penalise investment in real estate and subsidise investment back into manufacturing , then we would see house prices come down and factories built so that poor people would have a house AND a job, simple isn’t it.
I hope it is a Ponzi scheme. Those things fail fast.
Or even money into R&D - they are too dumb and lazy to build something like a Silicon Valley in Australia. Instead real estate is where all the money goes.
Same problem in New Zealand, too few houses & apartments so house prices are way over valued.
The lack of R&D is a huge issue, a lot of our best talent is either moving overseas or working for mining companies. Our gov is so short sighted in many regards, education also being one of the main areas lacking in investment. With the global decline in natural resource consumption, and lack of innovation in other areas - it's now biting us in the butt big time.
What this videos does not mention is that not only do you pay a high price for a property it’s also very poor quality compared to European houses. Who wants to pay 1m for a shack
You're damn right there mate.
I'm renting in a new area in a house that is less than 5 years old. Have lived here for 3 years and the amount of cracks up in this place... We're barely home too as we're always working.
Don't understand how there's this many cracks when all we do is sleep in this house and leave for work.
Landlord was sending some dude to seal up the cracks to begin with and I think mates given up 😂
you cant even learn a trade here anymore as tradesmen expect you to pay for it, even if they make 150 an hour, this country is dying because of greed and stupidity, want to go to university, good luck if you can afford the rent and cost of food on a min wage job working part time hours, then they keep saying we have a skill shortage 🙄.
Perfect comment.
Yes, good old Aussie price gouging.
What tradesmen expect apprentices to pay for their education? They're definitely not worth working for
Ive done 2 trades in the last 10 years and havent paid for either, not a cent, i even had paid accommodation in Melbourne as my tafe was there and i lived 2 hours away. If you're not getting looked after leave, you can afford to do so believe me.
@@BigMoistMuffin well good for you but i cant get anything, you must be lucky or very well connected, nepotism strikes again, the bank of mum and dad, is all you a**h***s need, im sick of you rich kids.
Governments in countries like Canada and Australia have still not figured out how not to be a colony.
They are all corrupt.
This is such a thought provoking comment! They just traded one motherland UK with another China. NZ too
Housing Ponzi economy. There are also some mines.
And farms.
One issue I'd raise is about scarcity - There are actually plenty of houses to go around, about 1.2 million vacant homes in fact (according to 2021 census data). The problem is however that a lot of these are owned for speculative purposes and are kept vacant so they can be sold once their market value has increased. This accounts for a huge amount of houses that no-one is living in, about 1 in 20 houses in Melbourne for example, which has a population of 5.1 million. That's nearly 100,000 houses in one city that are unoccupied, mostly for no other reason than people who can afford them sit on them to make more money, which increases both scarcity of housing and wealth inequality, as people who can afford to do so increase their wealth compared to people that are unable to buy their own house.
A couple of key points were missed, the ones that have absolutely supercharged the property market, and I say this as a home owner who also owns investment property.
Negative gearing is a big one (the ability to write off expenses incurred on your investment property against your personal income), while the other is capital gains tax discounts (you pay less capital gains tax if you hold an investment for over a year, and none if you sell your personal home).
Individually both these policies make sense, when negative gearing was introduced it did well to promote construction and had a negative affect on rents, but when the capital gains tax discounts were introduced it created a vicious combination.
Now I can buy an investment property, subsidise any costs through the tax system (socialise the losses), while avoiding a huge chunk of tax when I actually sell it (privatise the profits).
One or the other would work, both together caused disaster.
Pair that with cheap credit pushing the house of prices up, often more than 10% a year, and you create a market where anyone with a house can use the equity gained from price rises to borrow against and buy investments that are subsidised, utterly outcompeting anyone trying to get into the market to buy their first home.
The fact that we don’t have an economy outside of resource extraction means that the vast majority of people’s investments are in property, so any political party that runs on policies that would make any significant changes to this will be slaughtered at the elections, as people will always vote to protect their investments/retirement funds.
There’s no easy way out here, we screwed ourselves royally.
It's such a pity that free speech and importantly political discourse is suppressed on Australian news outlets UA-cam channels. Just reading the comments here highlights how well people communicate and educate with each other about important issues. It's nice to hear what other's have to say, rather than just what a news outlet tells us.
Murdoch Media
Good one !
Freedom of speech has never really been a high priority in Australian culture. Not saying people don't want it, we've been socialised to be a lot more controlled and restrained than other nationalities and just accept it.
Root cause is simple, Australia is a colony of a falling empire therefore not only has no autonomy in foreign and financial policies, but also is thrown under the bus to slow the wheel of history. The economy was good a decade ago and reason is simple, we were allowed to do business with China, who was not yet deemed as a threat to the master. And we didn't have to empty our pocket to buy nuclear subs and useless F35s. Now things have changed and master is busy waving the sickle all around to feed the family.
The second reason is that "we" were spoiled by good life. Many are lazy and the system is corrupt. As long as there's beach and beers life is good isn't it? A builder can earn 10x the average wage paying very little tax. Politicians paying no tax giving the developers land to mark up by 10x. How would you imagine housing being affordable? Maybe blame the immigrants.
It does cost a lot to be blind.
@@姜磊-n5h Not really. Australia’s economy has been highly ranked since in Federal (1901). Australia became more independent from the Commonwealth in 1970s . Before the Britain dropped its relationships with Australia and Commonwealth countries to join the Common Market. AUKUS would not have come about, if China didn’t have eye on the SCS an Taiwan. Australia’s economy is ranked AAA Stable by all international agencies. Higher than China or the US. Nonetheless, Australia does face a housing issue. Canada too. China is finding some provincial GDPs are failing owing to their housing crisis, owing to the failure of China’s Local Government Financial Vehicles.
@@petersinclair3997 sounds like quite some dose of koolaid you have drunk.
Unfortunately we're at the best, or worst age ever in human history, depending on where you stand. Because we are about to see the colonial order fall like house of cards. Busted all the lies will be.
Oh BTW the falling empire's name is the USofA. I thought no one had to explain British is fallen empire not falling.
More or less
Don’t forget that China you think a threat was your paymaster in those decades. Unfortunately, they now also waving the sickle to feed himself 😂
9:17 Sydney and Melbourne are three times less densely populated than London and 10 times less than Metro Paris to maintain this Suburban lifestyle planning permissions for many new homes are not being granted
When you prioritize parking over people you get people living in parking lots, aka car parks.
Right on that’s the problem ,Australian cities have copied the American “urban sprawl” model , huge areas of sparsely populated suburbs , a very expensive way to build a city and expensive to live there . A car is necessary , services and shops are too far away , massive amounts of money and space are used for roads and car parks.
I live in Australia and it’s sucks, our government doesn’t give a shit stuffs way to expensive you have to be a millionaire to even get a deposit for a house, rent’s minimum $700 a week without anything else like food water or electricity, not even our healthcare will look after us and help for people with mental issues is basically none and if your homeless you can’t get help unless you have 2 things a phone and a address, like how can you afford a phone when your homeless, also phones start at $800 minimum for a shit one, and the cheapest phone plan I can find is $240 for a year, I could go on but I’d go over UA-cam’s character limit, Australia is the worst country in the world for everything
What a load of rubbish especially about the cost of a phone you can get a good phone for a couple of hundred dollars. I'm a pensioner and don't own a house I have a caravan and a four wheel drive and live very cheaply (including beer every day) . The health system is good and if you have a major problem you get free treatment in hospital. At the moment am travelling in central Asia and people like you should be sent overseas then maybe you woul'd see how lucky you are. Australia is still one of the best countries in the world. I can't stand whingers maybe you should leave Australia and let someone in who appreciates this great country .and by the way I'm not wealthy.
Not all of that is true. I use a smart phone I bought at Oz Post. It cost me under $150 a couple of months ago. They have quite a few options for that price. You have to learn to economise and shop around.
Lets face it, the truth is that Australia is one big turdhole full of corrupt turds, going downhill every day!!😮😮😮😮😮
After 2005 Australians increasingly fell over themselves turning residential property into a commodity funded by absolutely insane levels of debt-leverage. Add to that, the most ridiculously ill-conceived tax concessions for landlords on earth.
They’re now sitting on an economy ENTIRELY dependent on maintaining the resultant, grossly inflated, valuations. Their housing “bubble” is more like a hydrogen filled blimp.
Yet, Australians are appalling at actually acting on issues now. Their polity is entirely facile, unresponsive, feckless and bought like cheap suits, their discourse distracted and wafer thin.
They now realise (but will never admit) their ONLY way to prevent a serious economic depression is to pump residential property demand via mass net in-migration. But, even that won’t work in the long run.
Another cause to issues in housing you failed to mention is negative gearing, and policies that promote the purchasing of multiple properties by those who have the means to do so. Negative gearing allows property owners to negatively gear any losses to rental properties. So more houses, more tax write offs.
The problem is: What are people supposed to invest in? - If they want to have some Assets for retirement. Are they supposed to invest in the Share Market? It has been propped up artificially since March 2020. Allowing for the increase in the Price of Gold, US Inflation is now about 20%, and their Debt increases by $One Trillion about every 4 months, so far!
@@dnickaroo3574propted up since 2008 imho.
Australia is in complete denial of being in a recession.. it’s not discussed in the news, they pref to just cut to the great distractors… sports. Fluff and bollocks… it’s a total wreck
Supermarket items are 7% higher. How they adjust is having huge specials. Those who are not there on the day pay much more. The inflation here is much higher than the 7 % that is calculated.
Edit : i was in my town today. (City censored for its protection ) There are sales every where. Every shop is in competition. If every one buys like I do. Then next year 2025, and more after that, I wont need to buy clothes. My wardrobe is nearly full. How will shops remain open. We follow the US.
To this Labour government I ask. Move and open your minds. There is a recession around the corner. And yet you don't address inflation.
Australia and Canada have long been discussing the issue of housing; how come no one is talking about regulation? When will these countries discover that what's behind this whole mess is the idea that everyone is going to live in suburban housing with all the rights to "peace and silence"? Don't get me wrong, I love suburban housing and all, but it just doesn't fit anymore. Developers could fix the issue, but these countries are going to look more like Europe than the USA, which is not that bad after all.
It's really not about suburban desire for detached home and land. It's about cities and towns restricting supply through tons of regulation and red tape, builders sitting on massive land banks they don't care to develop since the value is rising and rampant housing speculation aided and abetted by greedy banks that is euphemistically termed 'investment'. This applies to Canada where I live.
- Australia does not need to look “more like Europe”. Australia has land area similar to USA, but 8x less people. USA is already under-populated. You just need to build more in the smaller cities, like it is done already in the USA (80% of population live outside big centers)
- You need progressive property tax inside cities, to make owning more than one property more and more expensive, so people will own less properties, but owning just 1 is still cheap.
- Ban businesses AND foreigners from buying property. However, incentivize building them, with lower interest rates. So: business should be able to build properties (with very low interest rates or 0 interest, with a penalty if the houses are not delivered), but not be able to buy them (only people should)
- politicians area already aware of these solutions to real estate market. They just don’t have an interest in implementing them because they are invested in such market
Correction: I meant to say ban non-residents from buying properties, not foreigners. That would be Xenophobic.
@@LammaDrama It's not xenophobic if you ban foreigners. It depends how you understand that term. If somebody has permanent residence in the country regardless of their ethnic background they are natives. I don't believe international students and other temporary residents should be allowed to own homes as they are not making their lives in the country. Homes have to return to being a utility rather than an investment vehicle.
What annoys me is many parts of Australia have the space and beginnings of the infrastructure required to build some of these vaunted '15 minute Cities' in loads of places, but no-one wants to make the regulation easier, or invest the money in a project that would result in significant extra housing, with a far lower maintenance bill than our endless suburbia. I'm in Perth. We've passed 100 Miles long now, but because everyone wants to be near the beach, half this length is about 2 Miles wide. It's bizarro.
Australia has ridden the China boom for almost 40 years, but that appears to have now run out of steam. This is about to hit their economy hard.
As a Canadian living in Australia, i think both countries are the same. I hate it here...
Two countries run by immigrants, but at least canada has more diversified economy.
@@khanhhung8959It’s not much diversified compared to Australia. There’s also many duopolies in Canada as well. Even Ireland, US, UK, and New Zealand are struggling like Canada and Australia.
@@TheLsp92 just google economic complexity index. Australia is close to african countries than those you mentioned.
It's interesting seeing how the exact same issues apply in Canada. USA is to Canada as China is to Australia. Both Australia and Canada are resource rich, and they've been able to take advantage of these resources over the past decades. Both countries have low population densities with vast amount of land available; except that in Canada most of the land is too cold, and in Australia most of land is too hot/arid. Both countries had record high immigration in 2023 (Australia at 750K and Canada at over 1M ), and when combined with not enough homes being built for many decades a housing crisis is a major issue in both countries.
I can feel your pain, as we're going through the exact same thing!
That USA to Canada example is not all that black and white.
@@edwinholcombe2741 My point was meant to represent that USA is major buyer of Canadian resource products (Oil, lumber, wheat...Maple Syrup...LOL), just as China is a major buyer of Australian Ore products. There is no question that is as far as that comparison should go. I probably should have said as much, but didn't want an already long post to be longer.
Both of our governments are traitorous
It has and never will be a case of “not enough homes” the fundamental issue is overtaxation and unbalanced migration. There is a balancing act required between allowing the right type of skilled migration to occur balanced with suitable and nice home building. Successive governments have failed to realise this in order to achieve short term votes. Building a suburb takes multiple government terms and no politician can be bothered thinking more than a couple months away when they actually need to consider what the country should look like in decades to come. The second issue is over taxation. You take too much of peoples money for vanity short term projects and you get where Australia is now. If you leave people alone, take only enough for infrastructure you get where Australia was in the late 1990’s!
The point we’re at has been in the making since the 50s. It’s just neoliberalism and capitalism working as intended.
I moved to Aus from the UK 6 years ago. It’s not perfect but I am infinitely better off here and prefer the weather
That wouldn't be hard. I wouldn't even send my pet to the UK to live. Australia is and always has been a better version of the UK but that's rapidly declining.
Idk about Australia but the uk without London is basically poor according to statistics, i see a lot of problems in the uk similar to my country even tho the uk is the sixth economy in the world, a lot of us went to the uk to make money but nowadays besides been easier to integrate it doesn’t offer the same benefits money wise but opportunity wise is still better and their career advancement opportunities meanwhile here the average young person is stuck, also most of our businessmen lack vision and prefer the old ways , our culture seems eroded in a very weird way that I thought it would never happen the solution is going abroad and abandon the ship while they go in direction of the titanic, other Europeans countries have the same problem but our country despite improvements is still behind the rest of Europe, maybe we should have participated in the w so we could rebuild or something
The economic crisis and downturn are all the signs of 2008 market crash 2.0, so my question is do I still save in the Australia dollar or is it okay to move all emergency and savings to precious metals?
In light of the ongoing global economic crisis, it is crucial for everyone to prioritize investing in diverse sources of income that are not reliant on the government. This includes exploring opportunities in stocks, gold, silver, and digital currencies. Despite the challenging economic situation, it remains a favorable time to consider these investments.
The pathway to substantial returns doesn't solely rely on stocks with significant movements. Instead, it revolves around effectively managing risk relative to reward. By appropriately sizing your positions and capitalizing on your advantage repeatedly, you can progressively work towards achieving your financial goals. This principle applies across various investment approaches, whether it be long-term investing or day trading.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
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Finding financial advisors like Marisa Breton Dollard who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Australia is still run like a prison colony, in that the population is there to maintain infrastructure and systems so that resources can be extracted.
It still has a legacy of the political system viewing the people of Australia with contemp and at times, outright hostility.
It's a very strictly policed country.
The mining cartel funded police come down very hard on Australians who step out of line.
Several important facts have been left out.
1. Australian Domestic mortgage market is the largest money laundering market in the world. You can literally walk into an agent with a suitcase of money and no one asks any questions. That's why 3.5 million was paid for a place with no toilet as outlined in this video.
2. Successive governments on both sides of the house for the last 60.years have used the domestic mortgage market as the sole means to grow the Australian economy. It's literally the equivalent of the countries wealth riding on a sheep's back. We're still playing for sheep stations and we have no investment in diversified industries.
3. In 60 years there have been 84 house price increases.
4. And most importantly the banking sector in Australia is so in debt to the tune of trillions of dollars in the mortgage market that were house prices to be realistically valued the entire banking sector would collapse followed by the economy. The Commonwealth bank alone has 639 trillion in debt in just this one sector. That's more than Goldman Sachs in its risk diversified portfolio.
In summary Australia is far from a lucky or clever country, it's always had a convict mentality. Big country, small thinkers. It doesn't even have a strategic energy reserve in gas while politicians sell off our gas for nix. The people are still arguing whether nuclear is a secure reliable base load carbon neutral, cheap energy source is a good while whining about energy prices. It has abundant resources yet the clueless and traitorous self caring politicians and their party's fleece its constituents. Tall poppy syndrome reigns supreme and everyone thinks she'll be right. It won't. People are more worried about pronouns and what gender they are, and the next fear campaign they can rally behind, while the aboriginals once again are used, this time as a proxy in a voice referendum which effectively was a corporate attempt to create a third tier of the legislature to by-pass the upper and lower chambers and allow corporate interests to directly influence policy. Hence wespac, Qantas and many others paid handsomely to support the Yes vote. Ultimately without a seismic shift in Australian attitudes an end to two party preferred and it's affiliates this land of milk and honey will dissolve into its nick name...the ass end of the earth and we all know what asses produce.
Every politician has his ABN i do have to enjoy the law
Australias housing crisis shouldn't exist, but it does because older Aussies are greedy and oppose new housing developments just to keep their house prices high. same story in most western countries.
Stop Blaming older generations, any generation will reap the rising housing prices. gppsoftware is exactly right. Boomer bashing is for numbskulls.
@@gppsoftware Most boomers bought their houses when they were worth significantly less than half its current value
@@gppsoftware How do you explain house prices relative to income then? breaks away
@@gppsoftware
I know someone who bought a decently nice house in 1999 for about 95k...
The house is now worth 2.7m...
Explain the double again mate?
By your logic the house should be 190k in 2009 and 380k about 5 years ago...
So currently in 2024, the house should be worth 570k.
As someone who has been working for a bit over a decade since I started young, I would happily fork out 570k for that property.
My savings and borrowing power can afford that decent and nice property...except I can't cause no bank would give me a mortgage since the place is actually just over 4.7x amount.
A typical average house is about 910k+ now...which is still nearly doubled what that fancy property should be by your logic.
@@gppsoftware I know you said roughly but 4.7x is ridiculous. I understand maybe 2x even, but it's just way too high.
Mate, even on a paying salary job, you can't afford a property on your own. There's a limit to your borrowing power based on your income. Having a partner helps but not everyone has a significant other.
At this point, most people just want to be able to work towards paying off a place that will become theirs so they can retire one day. It's not even to find a place that will fit within your means.
People who don't own property aren't asking for a mansion. They just want something to work towards that is achievable.
Many people are currently struggling for a place to live because there isn't even any property on the market that "fits within their means". Even rentals aren't even lasting until the weekend inspections.
I honestly do not know of anyone who has recently purchased their first property without the help of someone else such as friends or family. Most of the people who currently own their first homes within the last few years have inherited wealth from a loved one, have someone help with setting them up such as a deposit or have lived with family without moving out or moved back in so they can afford to save.
I'm not asking for mansion prices to be lowered but am just mentioning that some form of compassion needs to be shown to help the current and future generations.
Not everyone has such a great family that they were born into to help them out.
What then?
We just all sit back and watch those people work forever towards nothing? Slowly pay off their HECS if they attended uni and go homeless while properties sit there with prices so unaffordable that rent isn't even possible?
Immigration and wage growth isn’t the issue. It’s the monopolies running the country and boomers. They own all the shops, own the banks and own the houses
This
the truth
Fix it from ground up, which is housing. Second house should be double the stamp duty, third house double again. Higher mortgage for them too
How about U ? You own one ?:)
@@dota2lol942foreigners can pay stamp duty when they rent in no consideration for pensioners too:)
As a young 22 year old Australian, seeing how bad things are breaks my heart. It feels incredibly hopeless. The "lucky country" is dead. Even worse than not being able to buy a home is not even being able to rent. We have been FAILED by both major parties who have allowed the situation to get this bad, and still sit by!! Meanwhile the rich get richer and boomers blame young people. I used to be proud of being Australian. This is not just a crisis- it's an emergency.
Unfortunately it’s a worldwide problem at least in “western countries” we are dommed with governments with no vision, we will see how it will implode
Don't vote for them.
The whole world is dead with its economy.
We should look to Norway's sovereign wealth fund as a model to manage our mineral wealth to benefit all Aussies, rather than following the Congolese model of letting multinational corporations pillage our resources
Regarding housing: there is also the issue of land banking, where houses are sitting empty (around 100,000 in Melbourne alone) because the owners have no incentive to make them available. Making these houses available to the market would give us a head start on closing the supply gap, but the government would have to come down hard on property developers and foreign investors, which is unlikely when most politicians also have extensive real estate investments. They would have to release this supply over time to prevent a market crash which could tank the economy due to the amount of mortgage debt the big banks have, and the enormous weight the banks have in our economy. It’s a big mess that has gotten worse due to complacency and corruption.
The problem with houses is if you want an "affordable" home you need to buy a place way out from the main city that is borderline rural or major rural. These areas have zero infrastructure like roads, transport and facilities. New estates are being built all the time but the government and councils do nothing about building the roads and adding facilities. There's barely any internet or mobile coverage too.
Abolish negative gearing that will do a lot of the work of reversing the housing crisis but no government of any political party will do it because they put votes ahead of the greater good of the country
@@gppsoftwarebut then less people want to be landlords and so the prices of houses goes down transferring home ownership from landlords with multiple properties to people wanting to start a family
Well, I have bought 2 properties off the plan in 2014. They were brand new and my plan was to slowly pay them off by my retirement so that I don't have to rely on government money.
I have been bearing most of their outgoings out of pocket as rent covered close to half. 10 years later, they are still negative and can't even sell for their original price. I have lost over 180k in 10 years after negative gearing. If sell today, one property in melbourne, I would lose another 100-120k instantly. So overall its a massive loss and a trap not easy to exit from. Some tenant lived for cheaper all this time. During covid some lived for rent free and after they lived at a reduced rent.
I could bear all the costs from my pocket due to having a job. Now job market is also destroyed by the government. If I knew the negative sentiment we have today, I would have never added those 2 new properties in the market and that would be 2 less properties for rent.
Negative gearing only helped to keep them going but never covered anywhere close to my losses. If I can sell them for the price close enough to what it originally cost me 10 years ago, I would sell them any day.
Looking at your comment, it looks like you have no idea about how negative gearing works.
@amilarathnayake55 sounds like you took a financial risk (buying off the plan is generally a huge risk for so many reasins) and it didn't pay off I'm sorry it happens but we're in the housing crisis in part today because housing is viewed as a wealth building instrument rather than something that meets basic human needs if you had just bought one property to live in would you be in the same situation. I wonder that you were able to buy 2, if you had just bought one to live in, where would you be with paying off the mortgage almost paid, completely paid off? Being mortgage and rent free is a game changer. You took a gamble and used housing for wealth building instead of it's purpose housing...it didn't pay off, I'm so sorry to hear but you made the choice. I'm sure you wouldn't get any sympathy from people living in their cars, couch surfing in caravans they wouldn't even say I'm sorry l.
@gppsoftware but again housing prices will go down so more people will actually be able to afford to buy, which directly reduces the number of people who want to rent.
@@Bella34544 yes, investing locally adding 2 new properties was a mistake. Tenants keep breaking thngs and system is punishing the owner. Some people have very entitled way of thinking. Its hard to find responsible tenants these days. My mates invested in Dubai instead here and had a good return.
Australian labour government wants us to spend and waste all we earn and be a burden to the tax system once retire. That's a parasitic way of thinking. I have no expectations on social security. My plan is to get rid of the local investment at the lowest possible loss and start investing overseas. Australia will become a comunist country one day. Victoria will get there first.
i just saw a tv show about people who rummage through garbage bins for food around the back of supermarkets at night...the tv reporters tried to show the dumpster divers in a positive light ...thats how bad things are getting
Housing is not an issue if the job market and wages are keeping the pace.
However labour government killed the job market too. If you look at victoria, the situation is worse. The biggest employers in melbourne who earn every penny from australia (including big banks) offshored thousands of jobs last year while laying off way more jobs onshore. They then brought the permanent employees from offshore consulting companies and gave the remaining jobs in their HQs in melbourne. The guys who came are on state sponsor visas or some work visas. They get a permanent salary in their home country and get a small living allowance in here. Their goal is to live from bare minimum in shared houses and save all the money to bring back home. Can't blame them for doing that. The locals who lost the jobs, many are jobless for many months now. They have families, kids and mortgages here.
I never blame people who come here to replace locals, they would go anywhere if there is a country that allows it to happen.
The issue is with our local governments and the politicians who have never worked a job or run a business for their living. They are like parasites. Obsessed on destroying local economy but play with big toys like fighter jets, missiles - all come from tax money.
After doing irreversible damage to economy, victoria politicians shamelessly increased their salaries and pensions. Current premiere Jacinta taking half a million dollar salary and Dan getting a pension close to that too.
How can these parasites ever understand how hard working people and small business owners servived with their families.
Never ever vote for career politicians.
If only Australian news outlets would focus on important issues Australians care about such as housing and recession instead of woke bullshit that is widespread across ABC and SBS! Labour party was actually about this once upon a time now all that is discussed is how can we use pronouns more effectively and consider different cultures better!
They do. Less insecure bias mate. It was the Greens that secured billions more in social housing and are the ones who are actually pushing housing reform.
True!!
Lol They have only been in power for 2 years. It's not like the Liberals didnt do anything to help out Everyday Aussies during their time in Government
@@TheNanipounani Yes like the video says, both parties labour and liberal didn't do anything to reduce raising housing costs!
Frankly, I see little difference between LNP and ALP - similar to Tories and Labour in Britain.
This video is equally fitting if you remove all mentioning of Australia and plug in Canada. Intriguing to know why. The bright side perhaps is this is why Hugh Jackman and Ryan Reynolds seem to be a good match.
Yeah living just north of Adelaide (in a town) and rent has seen a 2-3x increase since 2019. Pushed out into a cardboard box pretty soon. Such is life...In Australia.
Sorry.
Melbourne where I live has been going the 'stack and pack' direction. People die off or move out, sell their quarter acre block, and 2, 3, or 4 units are put up in that block. There are numerous more houses/apartments in my area than there were 25 years ago, and those around me are living in more crammed spaces - so in that sense, it is moving in the European direction.
Australia is FINISHED
Money laundering is another factor
Stop voting for Labor and the Coalition Australia.
LOL. Unless you vote for Hanson, nothing will change.
@@MrFastFarmerwhat the hell has she done in her career other than be a blatant racist?
@@MrFastFarmerThe Greens have the least investment properties per MP out of any party and were the ones who forced Labor into billions more into social housing. Don’t let me media dupe you otherwise. The Greens have more power and have used it. The reason why you think anything negative about the Greens is because of that media bias despite those hard facts I stated.
Both are corrupt,
There is no better alternative either. Greens is the worst.
I can only trust some independent candidates who genuinely stand for a real cause.
But future of australia is doomed with these parasitic politicians who have already sold australia to mining companies.
One of the big issues is that politicians have a lot of their wealth tied up in the property arket. So it's in their interest to inact policy that will increase land value
The fact people CHOOSE to live in Australia is crazy to me (former Aussie here)
I live in Sydney since 1989. If the idiot governments would stop moving ALL immigrants to just SYDNEY AND MELBOURNE, THINGS MIGHT IMPROVE!
We are good at Cows, Coal, Gold and Iron. Yet suddenly weve decided to make ourselves uncompetitive in those markets and we are going to base our economy off a housing bubble instead.
Yeah, terrible things to be good at. Third world country industries.
@@tobyb6248 The 4 mentioned are what pays the bills bro!
@@mccallsensei3293 What bills? Can you show me what money the government makes off it? Because It certainly isn't making it off royalties or company tax. We've been somehow lucky with resources in the past, but we should be diversifying far away from these third world economy industries.
@@tobyb6248 You cant be serious?
@@mccallsensei3293 dead serious. Show me what they're giving to the tax payer. Tell me where the money goes.
Jerome Powell literally said it on 60 minutes (maybe indirectly but anyone watching this gets it). Let's keep that aside. Everyone should have BTC in their portfolio.
I feel sympathy for our country, low income people are now suffering to survive yet inflation and recession keep increasing daily, many families can't even enhance the good cost of living anymore. You've helped me a lot Sir Brian! Imagine I invested $50,000 and received $190,500 after 14 days
Very possible! especially at this moment. Profits can be made in many different ways, but such intricate transactions should only be handled by seasoned market professionals.
Some persons think inves'tin is all about buying stocks; I think going into the stock market without a good experience is a big risk, that's why I'm lucky to have seen someone like mr Brian C Nelson.
Brian demonstrates an excellent understanding of market trends, making well informed decisions that leads to consistent profit
I'm surprised that you just mentioned and recommend Mr Brian Nelson. I met him at a conference in 2018 and we have been working together ever since.
Other issues that are contributing to the cost of living are monopolies/dualoplies in vital sectors such as food, travel, energy and gas providers and telecommunications with little to no regulation. A biased mainstream media monopoly also hides this issues so a content or apathetic population means nothing really changes.
Even when we made cars in Australia, the money went offshore. FORD GM Toyota got massive closure prevention payouts to keep the doors open, with a massive luxury car tax to help compete, and the factories closed anyway.
If it isn't Australian owned and operated entirely, it is just going offshore. We need to do better.
All I know is in the good times people are manipulated for profit, in bad times people are manipulated for profit.
Another interesting reason for falling productivity is the way in which productivity is measured in the mining sector. Productivity is generally measured in terms of growth in units of output, so if the price of a commodity increases productivity won't increase as the workers are still producing the same output of that commodity. However at the same time the higher commodity price also encourages opening of less potentially productive mines, as although these mines may require more inputs to produce the same output with a higher commodity price it can be justified.
In light of the ongoing Australia global economic crisis, it is crucial for everyone to prioritize investing in diverse sources of income that are not reliant on the government. This includes exploring opportunities in stocks, gold, silver, and digital currencies. Despite the challenging economic situation, it remains a favorable time to consider these investments.
The pathway to substantial returns doesn't solely rely on stocks with significant movements. Instead, it revolves around effectively managing risk relative to reward. By appropriately sizing your positions and capitalizing on your advantage repeatedly, you can progressively work towards achieving your financial goals. This principle applies across various investment approaches, whether it be long-term investing or day trading.
Even with the right strategies and appropriate assets, investment returns can differ among investors. Recognizing the vital role of experience in investment success is crucial. Personally, I understood this significance and sought guidance from a market analyst, significantly growing my account to nearly a million. Strategically withdrawing profits just before the market correction, I'm now seizing buying opportunities once again.
@@hunter-bourke21bravo! I appreciate the implementation of ideas and strategies that result to unmeasurable progress, thus the search for a reputable advisor, mind sharing info of this person guiding you please?
Well, there are a few out there who know what tWell, there are a few out there who know what they are doing. I tried a few in the past years, but I’ve been with *Gertrude Margaret Quinto* for the last five years or so, and her returns have been pretty much amazing.
My needs are kind of unique and complex. I'll contact her nonetheless, and I hope I'm able to make something out of it.
I like the wonderfully optimistic graphs that show Australia is at the lowest point right now, and things are about to get better
Lol only down hill from here mate
haha, we wish, but the govt who allowed this all to happen over decades doesnt have some magic wand to fix things. wages continue to fall further and further behind rising hosuing costs, the cost of living. fact is we are in a real life game of monopoly, and for anyone has played it, we know how that ends. someone holding all the cash and everyone else in tears lol :/
@@infinite8382 Zionist bankers Rothschild family ect
you forgot in that picture we now have 400,000 homes being used for B n B rentals and unoccupied as a residential home , that has affected the market too.
Australia has grown so reliant on mining and the housing market's boom. Unfortunately, a less diversified economy has rendered Australia intractable issues despite being relatively prosperous.
Should stop people from buying more than 1 or two investment properties to bring down property prices.
This wouldn’t solve the issue as in reality, most property investors are 1 or 2. It is the tax incentives.
Yea or the government leases more property to foreigners who want to live here .
@@ChineseKiwi no, a few investors are putting everything and anything on buying properties, as it never comes down before. They go all in. double the stamp duty every time they buy another investment property would help
But they have wives sisters daughters,brother's cousins,friends and people who are homeless :)
@@paulfri1569yes foreigner have something in the bank which u can Only dream of:)
Why should our cities keep expanding to accommodate a population Ponzi scheme? You said it at the beginning, “Australia is beautiful”. Have you seen the distant suburbs of Melbourne? Do you remember what lay there before these McSburbs were built on our beautiful green land? I highly doubt it. Perhaps take a drive out there and then tell me how beautiful it is. Why does everyone think just because Australia is big that we should just keep expanding our cities? We have wildlife the world envies. There won’t be much left if we cover it in concrete and allow humans to shit all over it
Been to the burbs when I lived in Melbourne. I was shocked. Urban sprawl gone mad, with a complete lack of services in these areas, only accessible by car. Huge potential for crime, as the youth have nothing to do, and nowhere to go. Now I live in South Korea in a high rise apartment, as most do here. With access to goods and services very close at hand. Very convenient and practical way to live over here. South Korea’s population is double Australia’s yet still has an abundance of beautiful natural spaces. Your summation is entirely correct.
For there not be much countryside left in Australia - the population would have to be over a billion. Check out Google Earth - 99% of Australia is noy built upon. It's because of people that young people can't get a house, and that we're choked with regulations.
We need mass housing such as panel flats, that would solve the issue immediately.
Same as the the land between Brisbane/ GC, becomes less greener every day to accommodate migrants, Mexicants who have moved north..
@@karlcotleanu486 thank god someone knows what I’m talking about. Building for the sake of building just to satisfy population growth without the input of IQ
I'm going to leave Australia next year. I see no future here. A beautiful country with great people but that's it.
Don't blame you. Soon as we can afford to leave I will be also. My mum is from the Philippines so I'm not blinded by 'straya is the best country in the WorLD camp'.
@@JasonISF
Go where you are treated best🎉
@@JasonISFyeah and all that BS about beautiful beaches, yeah sure if you’re from land locked Poland or Germany or the UK; these beaches are amazing.
@@NoobTube4148 haha yeah I'm in Adelaide and the beaches are nothing special. I've been to 100x better beaches in Thailand, without having to pay $10 for a beer or $10 for a tiny ice cream cone. The only good thing Australia has going for it is mining, which I'm heavily invested in and will eventually be my ticket out.
@@JasonISFI'm Thai living in Adelaide. And Adelaide is heaven compare to Thailand. In case you didn't know minimum wage in Thailand is 300 baht/day or about $AU 15/day and that's why is cheaper. Local people working for a whole day couldn't afford to buy a large side big Mac over there. We should swap a country cuz to me Adelaide is heaven. Here in Adelaide I'm working full time at chicken factory and still afford to go travel around the world once a year. In Thailand you work in factory you can't afford to put 3 meals for you family.
I am happythat I didn't move to Australia when I had a chance in 2005. I have worked there and found people very laid back and not easily frazzled by anything. Maybe, that attitude has caused all its problems. But it is a very beautiful country.