More Household Trouble In The Land Of OZ!
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- Опубліковано 2 жов 2024
- We update our modelling to the end of June 2024, examining the latest in mortgage, rental, investment and financial stress across Australia.
While the upcoming tax cuts and energy support may assist, the truth is about half of households are under sever pressure, and with rates expected to be higher for longer, its time for people to consider tactics to improv their cash flow.
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I'm living in Thailand
Can't afford to live in Australia.
Better lifestyle in Thailand too
More freedom
.... and.... the elephantine in the room.😂😂😂
Typical example of expats not knowing the local language or laws, with complete ignorance of where the true freedom and opportunity is.
Don't confuse low cost of living with freedom.
Thinking of moving there for those reasons
@@scribzone192 yeah not cheap no more.
Land expensive now too
But great lifestyle but heaps of westerners living near me to,all have had enough.
@@scribzone192 are you sure there is no hidden agenda ? 😆
Slowly watching the disintegration of Australia from a 1st world country 😢
Canada? - lol
All by design...
My mate who electrician went to an house in Perth, 4 bed house 4 in each room he counted 13 people in there, Indians all Uber students part time workers, that’s the problem right there 🤬
Yep. Heaps of Latinos like that also, south Americans
So all the 13 people were just waiting for the sparky in their room when your friend showed up? 😂😂. Sounds quite interesting.😂
Wait until someone realises they broke fire code and something horrible happens.
@@bigbrother4everindification of a once white proud prosperous nation.
@@Eric-kn4yn Not unique to Australia.
because of our DH'ed politicians, we have pissed away the biggest mining boom this country has ever seen. We should have been one of the richest countries on earth! We could have been in a position to have free electricity & gas etc etc. What have we got to show for this 30+ year mining boom?
$10m houses in Sydney for the top 0.1%, enjoy admiring them from afar
Our two main parties are compulsive liars and chronic mass debaters…
high taxes
We did have the best living standards a hundred years ago, when our country hadn't sold out.
Australia is busy deindustrialising due to high energy prices. Inflation and thus interest rates will probably remain at present levels or higher so trouble ahead
I am beginning to dislike this country.
LOL
Just one more property
The elites have literally sold you and everyone out.. They want Australia economically destroyed and dependant on foreign governments, Specifically Red China via economic warfare as money is better at talking over a nation than actual bullet's..
It took you 20 years too long to reach that conclusion.
@@sylviam6535 well 20 years ago I was 15 and just worrying about having fun.
We need another 0.5% now or it will be 1.5% in 12 months. All the poor struggling homeowners need to do is clean out the spare room, get 5 bunk beds and put 30 migrants in there at $125/wk each, this would solve the mortgage stress, housing shortage and inflation problems all in one go and pay off the mortgages in 18 months.
Inflation? Rooming houses in 4x2 now 6x2 getting $100k and States replied "It's innovative". Yeah, inflationary alright....And backed by ATO tax claims. Turning the rug over to see 🤑 underneath it. Was just reading today the Airbnb zombie isn't dead yet with under 28 day leases. Plan for 2024/25 is over 28 days "longer term rentals"....what's those 2 newish landlord types going to do to Australia's housing market do we think?
That presumes that there will be some migrants. When the economy slumps immigration will fall as well.
I know you’re half joking mate but it’s no wonder people are actually doing this 😂
Early 2000s I saw a 2br unit in Lakemba with 4 beds per room and a double mattress in the lounge room. Also know a couple that rented a 1br unit in a tower block in Sydney and sublet their lounge room in the late 2010s. Sydney has been unaffordable for a long time now.
Indian slum lords are already a thing in Canada. 😂
I’m so greatful for these chats over the years Martin
Pay down your debt people, at all costs
It might be too late, but keep some funds so you can pay for the bankruptcy yourself.
Yep, debt free is best...
Simple commentators in media promoting the use of Tax Breaks and wage growth to qualify for a BIGGER loan or maybe an extra room or bathroom renovation??? All that is wrong with property market.....what about a balanced view of PAYING down your STRESSFULL mortgage?? Keep promoting the GREAT AUSTRALIAN PROPERTY PONZI and watch social unrest get much worse!!! Greed is NO GOOD!!!
1.400,000 will buy you a three bedroom bouse in Bankstown but 1,000,000 euro's buys you a chateau in france with six bedrooms and swimming pool ready to move in hilarious isnt it
13 bedrooms
Because most people in France like to live in the cities for jobs.
@@lorrainedilks4053 italy gives away free houses in the country abandoned villages no one there only the ghost
Good point. Reality is if you have real money you can live very well in many countries overseas….
@@bluehorseshoe6599every country.
So Australia is basically a Pirate Oligarchy?
Haven't got heating now in Canberra and most likely getting the power off.
Man that's shocking. Suppliers have hardship relief. Ring them.
@@jessekoch3480 haven't had phone from the first time Optus was hacked over a year ago, tryed getting connected for over 6 months with any other provider that can't do anything after deregistered got sick of them and Samsung passing the buck back and forth. I've no mobility, little ability to walk and an epileptic son that needs revival after some fits. Single new start to support 2 is very hard not being able to do my trade for so long on my own for going on 20 years from when he was 3 months old. I'll stop there because there is to much more detail. Thanks anyway.
its 12 degrees in my house but I dare not turn on the heater.
@@ChickityChicken same but a lot colder here. You can easily see fog breaking out and my toes are in pain. Lucky to get 12° in the day. Currently 9° at 12:35.
@@danielweir81 I used to live in Gungahlin I remember the local pond being frozen over. Good luck with it all.
@MrkBO8 , that’s a fantastic idea, why not 2-3-4 families buy one house and pay it off in 18 months however that’s not exactly what our Australian building code designed a house for and I doubt very much it would ever return to the way they were designed for, mite be better off leaving and finding a better country where I can live like a human being…
How the hell is your channel not growing...
YT down ranks it. They are in lock-step with globalism.
Reality hurts. People prefer to watch confortable lies.
Australia is a pirate oligarchy.. They can't have the plebs knowing the truth..
@@AUThePunisher hit the nail on the head
I remember when it was only about 500 subscribers.
The foreign currency flooding into Australia not earned here just has to stop unless we want millions of homeless Aussie’s on the streets.
Let the free market set the interest rates and realise capital depreciation is all part of the business cycle.
Excellent overview and we can see where it's going. A significant number might be doing 'okay' now but who wants to live in a society where tens of thousands of fellow citizens end up living on the street.
1 more rate rise and i will be on the streets. Already struggling right now smh
Get out while you can.
@@Deano00777 To the streets?
3 bedroom cardboard box
Rent youre rooms and lounge out! DO IT
I attended an auction in sydney inner west this Saturday. Not one single bidder. Agent said I can have it for the guide price. Ita a big difference to last week Saturday.
I attended a 1 bedder auction this weekend and it went for well over 900k
I hope you negotiated the price down or didn't buy it, as clearly the market didn't see value in the guide price.
@@nicolle_2944 i decided not to buy it. Its a recently built apartment block and strata report has significant amount of spending planned to remediate defects and litigation against builder.
Decimation is the only answer
There's bugger all business investment in the major corporations. Could easily see mass layoffs in the second half of the year.
Most definitely. Theyve sold off Aussie businesses to foreign companies. They will offshore the jobs
@@TalkingPoint773 Already are unfortunatley. Engineering consultancy's are offshoring all our major Infrastructure work...
@@Bruce-gh8gt Yes. India and China have developed over time, they have thousands of specialists who could do the same work for half the price. Global world, no borders, no restrictions. Dont need the people here, zero social responsibility or support for local people.
So True! Spot on with your Analysis here! Martin Thanks! your never off the Mark! Appreciate!
Glad you think so!
Been a sub. since before Covid World till now ! I live under a Rock, even back Then!@@WalkTheWorldDFA SHTF is Now an Ongoing! Thanks Your Analysis to now! . The world financial leaders are So Juvenile! an Stupid!. You and I Cant Cure It! Sorry! Thanks so much your ongoing Insights as it Goes! You an Ongoing Angel for Stats an Analysis!
Yeah I own property! Myself! outright! no Debt! I can see Disaster Still for All! They stuck in the modern circus for Profit!
@@WalkTheWorldDFA You Tube Thinks So Too! for up Tick ,Likes Thumbs Up!
I have $200 000 AUS deposit. I’m 50, I earn $130 000 a year. I can’t afford a house.
We are in the goldilocks scenario. They will keep Australia in this state and do everything they possibly can to ensure property price gains continue to power the local economy…
At the expense of absolutely everything else.
This is the sad truth! Make the people pay for the folly.
Nixon started the decline in the 1970’s and Reagan completed the undermining by transferring manufacturing overseas. We. Have just been on a downward trajectory as the wealth of the 1950’s to 1970’s has been transformed to the top 1% in 1973 the top 1% had 8% of all income now they have 40% of all worldwide income and they have legislation at local/state and federal levels to hamper and hinder small businesses and individual households and enhance their wealth funnels imo
Now the younger generations are pushed into surfdm and accept any crap they are served up . We have been cooked and the politicians and bureaucrats better grow a conscience
Yes nixon went to china and now china is the worlds factory everythings out of balance.
When Australian became a member of GATT in 1948, our politicians committed us to the New World Order and ALL subsequent trade and treaty agreements with the UN/WEF/WHO and various countries that included:
• Handing over the country's (Australia's) economic sovereignty to APEC.
• Removing all controls over imports and eliminating all other barriers to "free" trade.
• Giving preferential treatment to imports from other countries, even to the point of sacrificing home industries.
• Reducing wages and conditions of Australian workers to the levels of the country's
• Asian trading partners (the so-called "level playing field").
These psychopathic parasites in our parliaments have collectively signed Australia to over 1,000 international treaties without asking “we the people”. Past PMs and Ministers (Whitlam, Fraser, Hawke, Howard etc) across the political divide used various loopholes to bypass our Constitution to enable it.
In 1973, Gough Whitlam also signed Australia over to the foreign UNIDROIT Treaty of Rome, handing the Equitable Title of the mineral and energy wealth of Australia to “foreign powers”, head office Rome.
In 1973 Whitlam removed the People from “The Commonwealth of Australia” under the:
• Acts Interpretations Act 1973 No. 79 of 1973
• He also created his own Queen called “Queen of Australia”
• Royal Style and Titles Act 1973 Act. 114 of 1973
Our parliament has NOT had Crown Authority to create a law since 1973, everything “legislated” in Parliament since are just Statutes.
In 1975 Whitlam signed the Lima Agreement which was ratified by the Fraser Liberal government in 1976, this was start of Australian manufacturing been sold off as Australia has to reduce its manufacturing capabilities by around 30% and to commit to importing that amount from other preferred countries preferably to Third World countries, to help them develop e.g. China.
On 20 July 1978, Andrew Peacock’s press release K82 on the Lima Declaration, “the transfer is deliberate and ongoing plan”.
In 1983 Hawke got the High Court to rule that Foreign Treaties should override the State governments.
In 1986 Bob Hawke took away our English Common Law and changed it to “Common Law of Australia” where we have not rights
• Law and Justice Legislation Amendment Act 1988 No 120
He also brought in the Australian ACT 1986 WITHOUT a referendum or getting consent from the Australian people.
• Australian Act 1986 Act
All our problems start in politics and flow to our Central/Reserve banks until we send politicians and bankers to prison nothing will change, the new National Anti-corruption Commission (NACC) is turning out to be another government protection agency where whistleblowers are jailed not politicians and their minions.
You only have to look at what has happened to the middle class to know that what you stated above is true . We have no stability now and we must build up our foundations
Is there any hope left I dont see it any more mabe I should start looking out of Australia to live
Where outta fry pan into the fire.
Martin, why would would WA have the highest default rate nationally, if WA is/was most affordable State? That's really shocking given WA house prices are soaring, you would think that number would be as low as ACT.
Overhang from years of issues, remember it takes 4-5 years for defaults to season...
I'm at WA, lost my job, toxic af.
So glad it was due to shit nickel prices.
I'm not a quitter however it got interesting for a bit.
There is still shiptonnes of jobs at northern WA...
@@joekeegan-yc4nm bed down Mandurah rental or home eventually. It's about as good as things get now.
@@WalkTheWorldDFA really surprised. Premier just did a deal with Fed's for another 10,000 "skilled migrants", must be putting them in old covid hotels because there's only 1,200 rentals. Take a look at Adam Taggart's Thoughtful Money podcast on USA housing, it will be interesting. Those maps his guest uses is a bit like your postcode data. Great work!
Love your work, brother.
Much appreciated
After my ex and I split back in 2018, i kept our investment property and began paying for it by myself. It was obvious even back then that I had purchased something I couldn’t afford. That’s probably the biggest problem we had with our system. Once the interest rates doubled for me, obviously i had to sell last year. That proved to me that banks have been lending to people and allowing them to live on s knives edge. Allowing for absolutely no strife.
In Perth a few of the former State Housing Commission areas like Balga and Lockridge have gone through the roof,I know a few young people that wouldn't live there in a fit previously now they can't even afford those areas the new Australians are buying up
Rental stress is alive and well in Perth. My partner and I started paying $470/week back in 2021, then to $490/week in 2022, then to $520/week in 2023 and now $620/week in 2024.
I often wonder how high weekly rents will go? What's the end result here? $900 a week, $1200 a week or are we heading to $2000 a week or something? 🫠
In the current climate, interest rates should be 20% plus. Yes, this medicine will be painful and the results severe. However, frankly, as a society, we need to clean house and sooner rather than later.
John Adams debated that witth Robbie Barwick I think, maybe Gererd Rennick. A hard sharp downturn vs a long slow grind.
Wealth is now too concentrated to simply impose a 20% levy on debt - there needs to be a transfer of wealth to productivity, which is major reform
You will own nothing and be happy
@@swagmandan Sweet!
what if the 1% are happy with the way things are going ,
Good Morning Martin.
Morning!
This guy was forecasting real estate collapse 6 years ago. What a prophet !
Big difference between forecasts and scenarios... mate.
I wouldn’t watch him if I were you.
Sold my house in Cairns and bought an Unit close to CBD. Best decision I have ever made! Now I live the way I deserved!
My hubby died, sold my big house and now I live in a "nest" small apartment,
I don't like apartment living, but,being small, no cleaning, little cooking,feel safe
and at 78...my needs are very small.
@@carmen47freixas96 As you said its your nest and easier to maintain everything. Enjoy!
@@carmen47freixas96 👍
How much is youre quarterly strata? Cheers
@@MeditateMeHigher At the moment 5k a year. I calculated my time, pool and loan maintenance plus all the house repairs and that is a price I am willing to pay for someone else doing it for me.
All the houses in Australia are built of wood . Oh how they would burn sooo bright. Alleluia. God is great.
Hello Martin 🙂
Hi
Simple solution, introduce fixed rate loans. tell the banks in no uncertain terms to take it or leave. If they leave. Just introduce government owned banks.
G'day Martin
My UNCONSTITUTIONAL council has just released their 2024-25 budget increasing my rates by 25% thanks to the unlawful CORPORATE Queensland State Government that revise land value by over 30%.
what suburb
Great show thank you from NZ.
Thanks for listening
Mind that heat over there Martin.
In that first slide, investor stress is worrying. Making some assumptions here, on the basis that the vast majority of landlords hold just one property, let’s say that 23.42 of investors are stressed equates to 1 in 5 of rentals are not sustainable. If sold some may be picked up by other investors, likely I’m assuming that over 50% of these properties will exit the rental market and become owner occupier. Decreased supply would suggest increased rent in some segments. Does that fit with your thinking Martin?
Yep, spot on.
Not all bad: I've postponed my retirement by four years, so the government can f..k me over further for some more income tax take 😂
What Australia needs is another million migrants.
If a million is good, then a billion must be better. Lets go
India can supply 1 million immigrants a year for 1400 years with a bonus 11 million Indians added each year just in case they come close to running out
And we're gonna get them in the next 2 years
@@doodlegassum6959 ahahahahaha
@@Beensashlooks like those 👳♂️ are here already.
I think when you say best scenario you really should be saying worst scenario because house price increases just fuck us more and more.
A lot of stress out there, but I'm also seeing some solid wealth. If fact, I'm genuinely amazed at just how much prosperity is out there.
Clearly wealth disparity is emerging as big issue.
I do think more people are doing well, compared to those who are doing badly.
Record new passanger vechile sales and yes they never have been cheaper but?.
@@Eric-kn4yn Indeed! I've noticed this too.
I can’t afford another increase legitimately.. 😢 🤦🏼♀️😵💫🤯 I’m not one out spending up why am I being punished ???
Because they want you're savings buffer GONE! the Government hates their citizens!
Cost of existing in Australia is insane. Somehow has turned into one of the most unaffordable places to have a home and almost impossible costs to meet should one decide to have children.
Australia was always expensive. Since the housing mega bubble, it has become insane.
Great show Martin!
I am an economist. A model that predicts any chance of house prices falling in Victoria by 40% in the next 3 years is deeply flawed. Investors have already dumped houses, there is little additional stock to sell. Increasing demand from population growth and current building costs (which are in excess of current stock prices) mean prices cannot fall materially without a banking crisis. In the 90s prices only fell 10% when several banks collapsed, and there was limited federal government support at that time. Even if you can argue that a 40% fall is going to happen it would take 20 years for that to eventuate like has happened in Japan. House price growth at nominal GDP or more is most likely, which is around 3.5% p.a. currently.
In all fairness to DFA , who gives us 3 different scenarios, I’m not an economist but have my feet firmly on the ground and have seen a few things nobody is supposed to know by leaders at the top, this time will be different, there is no where for people to live, no where, sell your home before you go bust but where do you go ? Where ? I believe you’re right, it’s not going to change unless something snaps , something really big ! Something devastating and there’s a reset , but nobody really understands the truth how massive the contributions are from, giant super, giant compensation-insurance, law-firms, industry, tourism, realestate, main-stream, big-tech to the people who are supposed to be there to protect us and do anything to stay in control, all trying to get a pice of the action , and impossible to expose, unfortunately you are right . If you’re not just the Queen of Sheba , I don’t care what people think of me. I’m independent , 10 points to Martin.
Are people simply too parochial? Do they need to think outside the box? Maybe pack up and move and do basically what people around the world have been doing for millennia.
Move where out of the frypan and into the fire.
@@Eric-kn4yn - lol, I wouldn’t suggest moving out of Australia, while obviously that’s an option, but rather, just checkout your options in other regions of Australia.
@@JMichael2x2There's a reason why most people live in capital cities like Sydney and Melbourne. Not much going on in the rest of Straya.
Boomer 🙄
@@Beensash - start a life, create a plan for it, and you can live anywhere - I believe it’s a bit parochial to think the world revolves around Sydney and Melbourne, even though I know they’re both awesome cities. Every major city in Australia is amazing - the country towns scattered around NSWs, Victoria, SA, Tasmania,…. are some of the best kept secrets!
2213 please Martin. Cheers.
I have a mate doing Uber overnight, he said there are too much people doing 2 jobs. He mentioned that 4 hours of work and only made 110 aud. It's insane.
Sitting on the sidelines and chewing gum.
That's what I've been doing yet property prices keep getting more unaffordable by the day.
Madam RBA chief will not dare ro raise interest rate. She should go if she cannot do the job of a RBA chief.
Inflation is causes.
Through racketeering.
So much for the ‘mortgage cliff’. What a joke that was.
Correction more probable than not. 🎉🎉🎉
Great show.
Have just purchased in Coodanup WA 6210. Would love to see stats on that suburb 🙏
Noted!
I haven’t seen Martin North on you tube for a while. Martin do you remember going on 60 minutes years ago saying prices could fall 50 percent. Seriously mate.
ua-cam.com/users/shortsw-Tu0n1E4mE
@@WalkTheWorldDFAthanks for your reply Martin. No one could ever imagine where house prices would be now, the most remarkable thing ever. Media are good at that.
Yet millions & millions of 🦧👳♂️👽🐕🧕 are migrating here for a better life regardless of the horror show .please explain i cant but im sure the answer isnt good 😱
Plenty of them are left wondering why they bothered
supposed to hit 109,000 flights per day in 2024. take a deep breath folks!
Elegie Op.3 № 1 Valentina
Hello Martin, 3064 and 3754 please. Thanks
Noted
Treason!
Any advice for first home buyers wanting to get it ?
Move to another country and try there.
Post Code 3465 please Martin.
Noted
❤
Hi Martin, 3109 please.
Noted
Great work Martin!
Could you please review postcode 2250 Gosford, NSW) in one of your future videos?
I saw a 1 bed unit there (highrise) going for $400k...they wanted $4k a quarter/$16k a year for strata! Who on earth can afford that...can't even rent out a room if you're desperate
Noted!
3021 Vic
I'm in the right category. It took us 40 years of handwork and discipline. We.agreed at 21 saving was our best option to provide for the kids and paid out our house at 34. We still kept saving because of drop kick politicians from the nineties.
thanks so much, this is really a terrific contrast to the traditional news channels that seem to only interview agents, advocates and similar stakeholders, that have a pecuniary interest in constantly talking up the market.
I appreciate the unbiased reasoning and analysis!
Could I please request the following post codes if possible: Frankston 3199, Blairgowrie 3942, Ocean Grove 3226, Geelong 3220
Thanks, and post codes noted...
Post Code 6026 Please
Dale (Perth Australia)
Noted