DFA Live Q&A HD Replay: The Housing Poker Game: With Leith van Onselen
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- Опубліковано 4 жов 2024
- This is an edited version of a live discussion, with Leith van Onselen, Chief Economist at Nucleus Wealth, and co-founder of MacroBusiness.
In this show we discussed the recent developments in the housing market, and how economics is playing into the current broken system. Governments are not being transparent about their motives, or their continued intervention into the market.
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Caveat Emptor! Note: this is NOT financial or property advice!!
I'm trying to get my business degree studying son to listen to Leith, undiluted discussion of economics. Really good discussion. Thanks!
Thank you! Wish you would both go into politics and sort this mess out!
A great summation gentleman, keep putting the word out. The "Norway solution" would be an excellent platform for independents running for Political office. People will vote for candidates who can show them our potential $ gains.
Thanks for doing these vids Leith. It's important work.
Glad you like them!
@@WalkTheWorldDFAMartin are you serious with this guy? Someone who saying RBA has no fault for me it's out of question! NO WAY I CAN ACCEPT THAT!!! We really don't need this type of economist. At most he can only be good for picking potatoes.
Cannot disagree with Leith. He shines a light on the dark
Oh jesus..
We would prefer to look after our "trading partners" than our own residents. That's it in a nut shell. People are hoodwinked with a $250 cost of living bonus. Yet we are happy to pay $1m to rent a panda.
Brilliant, nails the underlying structural issues at play and the bitter fruits that will continue into the future. The Quality of advising policy also needs to raised. Otherwise a long slow march to failing living standards.
Due to the vast numbers of new immigrants and students in Sydney's North West it is making it near impossible for locals to secure part time jobs. Positions I am applying for have well over 100 applicants, and one position had well over 300.
This is being done to destroy locals economically and ultimately destroy Australia.
Yeah, this hyper immigration is the very worst sort of fiscal lever the government can pull. Lifting housing costs and suppressing wages. What a horrible outcome for those starting out.
My electricity bill has gone from $500 a quarter to $1000 in 2 years.
Not anymore: Steven Miles has got your back!
thats what solar panels do!
@@redsed1565 I can't put panels on the house I rent, because I can't afford to buy at these house prices
Leith for pm
So sick of our incompetent Australian politicians. At what stage do we revolt?
this is very concerning for the future of this nation... what can individuals do to change this?
Pfffft....... they will never have a solution, EVER! Just luvvvv waffling on about it daily!
39:30: Ruled by idiots? Nope. Kevin Rudd and his team were a smart bunch. They knew exactly what they were doing.
I believe immigration numbers should put the people via a referendum. This would solve the issue, as what is happening is not in anyone's interest.
Genius...Government already know the answer...they don't want to know!!!😂😂😂
“ Driven by idiots “
“ Ruled by morons “
Perfect slogans for a T-shirt
There should be a Walk the World clothing range…
42:00: WA also collects money through wages, which flow through to the economy. Did you know, that as per the EBA, some Woodside offshore gas technicians, earn as much as $418,000 per year?
1:07: Indeed Aussie housing is crazy! But it's set to rise so much more!
Talk to any of the vast number of buyers agents!
Before you are locked out forever!!!
I guess the thing I'm struggling to get my head around, is where the heck all this money is STILL coming from. Brisbane housing is up 16.1% for the year to May.
There just seems to be a unlimited supply of credit worthy borrowers who can keep paying more and more.
And investors seem to be cleaning up, yet I also don't get how there can be an unlimited supply good high quality tenants. Australia has some proper rough people!
Brisbane is up 70% since 2018 and still charging.
Great interview. Nothing annoys me more than 1. Immigration driving inflation and 2. Expensive energy also driving inflation. All so the politicians can pat themselves on the back and tell each other what a wonderful job they're doing. I 100% agree, we should have the cheapest energy / electricity prices in the world. To be robbed and have our kids / next generation robbed blindly is squarely on the politicians form both sides of the aisle.
Leith brings up Canada a lot because of the similarities in our economy and immigration policies but one thing Canada is also experiencing due to a massive immigration boom is the people coming in (mainly from India) are facing a lot of prejudice and racism towards them because so many have flooded the country that now they have priced out the Canadian people who are looking for homes and a job. You can see videos of literally 100s of people lining up for jobs just in hospitality, it's actually quite scary to see. Those lines honestly look like a picture from The Great Depression
Not one meaningful character assessment done means huge future societal issues
interesting that ABC news promos keep popping up during this interview...trying to obfuscate the message LVO is putting out maybe?
SO WHATS THE SOLUTION??????????????
Cut migration. Reserve gas for local use and tax the exporters, and invest in social housing big time.
@@WalkTheWorldDFA yes we all know that BUT how to make it happen?
So why can't we change all of this?? This information should be distributed prior to each local/state or federal election because i suspect 99% of the population are clueless of this information and the direct impacts it has on them!!!
When you pay more
And more
For something and get less and less this is impoverishment.
Capture
I love this bloke!
But, after the rant/whinge/moan you have to give the solution
Leith gave three main solutions. Drastically slow immigration, increase tax (a lot) on our resource extraction industries and mandate those same industries to supply local at close to cost.
We clearly laid out what needed to be done differently, towards the end of the show... Our point was, there IS a way to solve... if politicians chose to.
1:05:40: I guess the issue seems to be that Aussies are becoming insanely rich from all this, and can now afford to pay $200,000 for hotted up XB falcons and the like.
No wonder Aussies don't care, excluding 1% who are still poor (aircraft maintenance engineers and a few others).
Hello Martin and Leith 🫠
Invade the world, invite the world.
Leith ‘ya know’ van Onselen. Ya know?
Norway is ranked 20th in the world by wealth per capita. Australia is 5th
Source?
@@brianwolthers2762 en.wikipedia.org/wiki/List_of_countries_by_wealth_per_adult
Wiki - median wealth 4th, mean wealth 6th.
Norway is 10th median and 9th mean.
@@brianwolthers2762 Mind you this is wealth per adult. Not quite sure if it would change much if it was wealth per person...not sure which one would makes more sense. However the point remains, Australia has made a heck of a lot of money by being the lucky country. Could we be even better off... probably. But we cant really complain.
@@brianwolthers2762List_of_countries_by_wealth_per_adult
@@brianwolthers2762 en.m.wikipedia.org/wiki/List_of_countries_by_wealth_per_adult
Another pundit that thinks the current issues we face are the result of only the last 1.5 years
I reckon Albanese caused around 30 to 40% of the issues. And he's done it in only 2 years.
Instead, he could have reduced some of the issues by 10% to 20% by taking a different path. Yes, it takes time, but Albanese went the wrong way, and still is going the wrong way.
LEITHO PLEASE LEAVE IT ALONE HAVE MERCY ON US, GO PICK POTATOES OR DO WHATEVER YOU WANT BUT STOP SAYING BS
Nice hat , are you a cowboy
How good is Capitalism?
Best one yet, boys 🏆👏👏👏👏👏👏👏👏👏👏👏👏👏👏👏👏👏👏👏👏👏👏👏👏👏👏👏👏👏