Housing crisis, health crisis, cost of living crisis, debt crisis, inflation crisis, EU war crisis, middle East crisis, bank crisis, retirement crisis. How many crises can a koala bear?
I was just thinking the same... I'm approaching retirement with comfortable millions, yet scared of leaving my savings in the bank, pondering if I should just buy gold to preserve and grow my money
gold to me is an inflation hedge for long term, but not quite profitable in the short run, you can get more insights or guidance from financial advisors
Agreed, the role of advisors an only be overlooked but not denied. I was shocked that I made more money with investing than hard work, not even my CEO income. Earning ''return on investment'' fetched me millions within a space of 5 yrs.(But I still enjoy working)
sounds great! i've never utilized a financial advisor but enthused about making money from the stock market, could you be kind enough with info of the advisor guiding you please? I could really use some guidance
Personally, I delegate my excesses to someone of great expertise ''Annette Louise Connors" preferably you can look up the name on the internet, her qualifications speak for itself.
This be a racist statement. Housing is an asset and you are just upset that rich men from non white lands can force you out onto the street so that they can park their money in your town.
Do people realize that the biggest money donors to Australian politicians are big developer and real estate agents? This needs to be investigated and if any influence peddling is proven, harshly prosecuted.
@bflmpsvz870 it unfortunately is a positive loop; the more the developers etc. get financial incentives from policies the more they can afford to donate and thus can push for more preferential policy treatment and make even more money.
Australia is run and owned by the property sector. These powerful dictators own our politicians and our media. All you have to do is turn on the TV in the morning to see economic shills paid for by the property sectors frothing at the mouth telling Australians to buy property now and saying how great the price gains have been. In many ways we live in a society which is hell bent on brainwashing us to love property. We turn on the news we see endless stories about property we try to relax and there are tv shows advertising property. It's an unhealthy obsession that is rammed down our throats by the property sector.
Well, approximately 86% of Australia's federal politicians are also private landlords on the side with multiple rental properties. THAT is the biggest issue...
It's literally a conflict of interest, it should be illegal for them to, because they are increasing their wealth by purposely not fixing the problem. Japan fixed its housing crises with a huge population and little land. There's no reason why we can't, if we have politicians who want to fix it.
Australian here, to any fellow Australians here it is as simple as this, if you political party of choice is not willing to remove negative gearing they will not solve our housing crisis AND THEY ARE BENEFITTING FROM IT. This is a bipartisan issue. A family making average income trying for their first home should not be competing for a house against a mining executive looking for their 10th investment property to reduce their tax. It should have never been a option to avoid Income tax through housing. People are driven on incentives and we have pitted the wealthiest in our country against the poorest in a market that is a critical need for everyone. Foreign investment is also creating added competition but it is negative gearing that is killing us first and foreign buyers second.
Also .. Google easiest countries to launder money (through real estate easy p z).. and you'll find why so many love Australia ! Politicians either stupid or corrupt or both. People are suffering !!
It is absolutely surreal how irresponsive the Australian government has been with this disaster. We are almost into the third year of the Labor leadership and there is absolutely nothing even being proposed.
I mean technically they have if you haven't been paying attention. Not that I think it will help much. it's just a distraction and just kicking the can down the road and let someone else deal with it.
Labor can’t solve a problem created over decades in a single term. It’s not realistic. Plus there is a supply and labour shortage in the building sector so labor can’t just pour money into the building sector right now without driving up inflation. It’s a very complex problem.
Australian government is very responsible now. Only for the peoppe with power and money. More immigrants leads lower human cost and more expensive houses will give benefits for the people owning several houses and who have money to build several houses.
@@JD-hi6tw the massive immigration post covid lockdowns are visa’s the liberal party approved that were delayed because of covid. The current gov needs to honour its promises or no one will ever trust it again. Like I said Labor can’t solve problems in a single term when the Liberals left the country in such poor shape.
Until people realise what is really going on, the masses will remain ignorant. The real truth is the Govt is doing this on purpose and they have been instructed to do this via their masters Black Rock, the WEF members etc. When you understand the Govt is purposely pushing society in this direction you will be able to see the situation from a fresh perspective. The Govt wants to re-set society financially so their masters ( Black Rock ) can then bring in digital only currency and enslave everybody into the new re-set system. They cannot achieve this ubtil society is soooo run down, people will beg to take on a new system that will be offered,. AND BTW.. while this is all happening with the housing market.. Banks are making record profits.
It is difficult to make exact projections for the housing market as it is still unclear how quickly or to what degree the Federal Reserve will reduce inflation and borrowing costs without having a substantial negative impact on demand from consumers for anything from houses to cars.
If anything, it'll get worse. Very soon, affordable housing will no longer be affordable. So anything anyone wants to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.
The new mortgage rates are crazy, add to that the recession and the fact that mortgage rules are getting more difficult, and home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes. For now, get your money (as much as you can) out of the housing market and get into the financial markets or gold. If you are at a cross roads or need honest advice on the best moves to take now, it is best to seek an independent advisor who knows about the financial markets.
'Jessica Lee Horst' is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Housing in Australia is now used as an investment scheme rather than to provide a roof over heads. When I grew up the 80s we had it all, opportunities to buy for 3x your annual wage, and there were loads of subsided social housing available. This meant the young, the poor and middle class alike, all had opportunities to meet people and have families. Now it's 5 people share housing to make ends meet or its kids staying at home watching the internet in their 30s. God help the future of these countries and their social health.
@@benjamin1435-k6n There IS no where to rent. That's why families are living in tents. Your turn will come when the WEF agenda fully kicks in and we're ALL starving. It's not about national politics - or "getting ahead" it's the Globalist Takeover and this is just stage 1.
@@benjamin1435-k6n If you're telling people "just rent" like it's easy and not an unaffordable feeding frenzy, then that shows you know nothing about the Australian property market as it affects real working class people 🙄
@@benjamin1435-k6n every cent of the inflation we have today , is from investing in property and wages not keeping up . if wages stayed at 3x the lowest wage , housing would not be a problem
@@grizzz6884 thats not how inflation works . Wages have been stagnate because australia decided to gut they entire manufacture base and move towards more of service economy. Housing is unaffordable not because of 'investing' but because of simple supply and demand.
For the crisis to have gotten this bad there has to have been people who wanted this to happen. Australia has become a speculator's market, and the speculators hold the political power.
So much wealth is just waiting in someones account for them to make any sort of decision. Regular people can't afford to make the best market decision since large property developers and holders can afford to wait to see what politicians decide as policy. Regular people will just have to pray that doesn't ruin the mortgage that they are trying to pay off since forever.
It's the voters who wanted this to happen. We had the chance to change it and we voted for the tax benefits for people buying their second home and not buying their first.
short our currency, it will collapse - they wont fix the situation and as such the value of our economy will deteriorate. people will think theyre getting "richer" by holding property but the value of the Australian Dollar will continue to suffer greatly.
My rent has increased by $500 per month over the last 2 years. It’s insane. The property owner also owns 11 other properties. 1 person owns 12 homes. That speaks volumes about the situation.
It seems like they're providing 12 units for rent. Since the rent went up $500, that tells me that there are not enough units for rent. They need to own more units. More units need to be built.
@@FreedomTalkMedia correct. However, the government will make sure via immigration settings, that demand always outstrips supply. And the reason for this is very simple...they can't be responsible for popping the bubble, as doing so will see them lose power. Significantly cut immigration in the problem is solved, but unfortunately it creates a bigger problem in the short and medium term.
Can't even afford a 1 bedroom flat, born in Sydney worked my whole 20s saving a deposit. But housing went up 30% in 1 year under this government during Covid and continues to go up. Impossible it affects you everyday you begin to resent this country and the people running it.
Needed to buy then, if you could go back in time, would have been best to take the mortgage insurance hit. I've also missed out, not much can be done now.
@@Whyunounderstand Check out the studio flat currently for sale in Potts Point for 350k. Otherwise can get 1 bedders in Blacktown for 400k. I agree though the whole covid shitshow screwed the housing market when prices went up steeply and suddenly.
Yup I’m 58 and I’m homeless with my dogs living in the storage area of my barbershop I pay my taxes workcover, salary to my staff their super , I pay insurance and electricity. I can’t afford to live anymore what’s there left to live for can’t even afford groceries most weeks . Australia is the worst country in the world 🇦🇺🥴
@@parisdevine8553 That's been your choice m8. You are the same age as my father the fact that you still don't have property means you've been wasting your income on the wrong things!
@@GoodWhinger Thank for the tip, feels liberating not to be silenced for a change, shame about the other 99% of the media, Australia is a fake democracy.
I could be wrong, but I believe Aussie media rules allow the host UA-cam channel to be sued for the comments made on that channel. So if you open the comments on a news channel, and someone goes off the deep end and slanders someone or makes a terrorist threat etc, the host channel can be held legally liable. To avoid that, they simply don't allow comments.
And to think we’ve actually got “housing” ministers in government that have done absolutely nothing to mitigate this disaster from happening for decades!!! Exactly what are we paying their wages for with our taxes?
The problem is that a significant proportion of Australians are property owners and have done extremely well from two decades of price growth. A lot of voters don’t want housing affordability.
Ban foreign investment for the next few years and dramatically cut immigration. Remove negative gearing and start investing seriously into social housing on a scale similar to Singapore.
Investing into social housing is now part of the problem, unless you build concrete junges, it drives government spending and inflation making it harder for everyone else. It is also a part of corruption in a number of western nations...
Politicians need to be brought to a royal commission for profiting through multiple properties on the side as well as the massive private housing sector donations. This has been created by corruption and politicians need to be held accountable for being private enterprise spokespeople.
It's all planned and therefore you have to ask why? What's coming? Something huge is coming in the next few years. Don't be in the city when the lights go out!
You allowed government into the housing industry, now government is enriching themselves and their buddies. You could have seen this come to fruition? Ask any libertarian and they could’ve told you what was going to happen if you allowed government to control housing.
I think you overestimate how much the politicians actually end up with and there's no mention of the overseas landlords charging ridiculous amounts or the Chinese buying up houses so no one can live in them . But of course if young people would actually get off their ass and do something instead of playing games we may have better politicians but that's not going to happen
@@James-kv6kb If you know that much mate, you know foreign ownership isn't the problem. You're fronting. How many properties do you have while children are homeless for their whole childhood? If boomers and politicians didn't get us here, who did?
@@abrighterday508 I have been suffering with overseas landlords all my life I have never owned any property and I wouldn't buy it anyway and I don't have any kids because I was born differently so stick your bulshit up your ass
there is NO LIMIT on how many properties overseas buyers can buy. NONE. and they do not have to rent those properties out ! just sit there, empty, watching the price go up...for doing NOTHING. meanwhile we die.
This problem could be easily solved with 3d printing. You could build new housing with 3d printing for a fraction of the time labor and material costs. With $30 000 to $50 000 you could build a brand new house for a whole family in just a few days or weeks with much less equipment and labor. Your powers that be don't want that, thou. That is the problem.
Yep Australia is suffering a greed sickness which blinds them to any compassion for their fellow man or any common sense period. Similar to Smigel off lord of the rings, their precious house.
As a 57 yo woman, always worked, I am now homeless. I was, after years of insecure ‘housing’ ( couch surfing and housesittting), offered social housing. There I was subjected to extreme acts of violence from fellow tenants who obviously needed more supported housing due to mental health issues. For my own safety I had to leave the social housing because the attacker was still there. Rentals are 100% unavailable to me both financially and due to lack of stock. Dozens of people vying for each property. Too many houses being turned into Air b &b, no interest by the powers that be in creating more affordable housing.
Most politicians have portfolios of real estate. More people make their numbers go up. Huge conflict of interest. We are asking career self promoting narcissists to do something against their own financial interest. This problem is making them rich.
The fact that the Labor Government allowed 750,000 migrants in to Australia over the 2023-2024 period all in the wake of the Covid-19 pandemic is criminal in my opinion.
@@InfinityIsland2203 Would you please advise me on what you believe the true figure is? The figure I quoted above was on a government website and did not include foreign students who either rent or their parents buy property for the time they are studying in Australia.
The same goes for aged care. There needs to be more government run facilities and less money grabbing private companies. Government housing needs to be larger like Singapore.
Same with private hospitals which are run like private prisons. Least amount of staff as possible for all the patients, so you could have 2 nurses for 30 patients.
Where I live in Adelaide, the average house since 2019 has risen somewhere between 300-400 thousand dollars. My wages in that time in total has risen 10% over 4 years. Today you need around $170,000 just for a 20% deposit. Unless you have rich parents in Australia you’re u likely to ever own property here.
The Aus Governments continue to take with 2 hand and give back with one finger( 1st home owner grant). The house price is more than 50% fees and taxes (stamp duty, transfer duty, land tax, Gov tax on bank fees and insurance costs, Qleave, payroll tax, builders plumbers electrician licence fees, excise tax for material delivery, council application fees, infrastructures charges, environmental offset black mail and don't forget 10% GST on top of all the taxes).
Being a citizen shouldn't entitle a person to hoard home ownership either. Have an ownership limit of one house per person and no corporate house ownership unless it's on-site accommodation for remote workers. I don't see a problem with non-citizen permanent residents owning a home, but again - only one house per person. And let the government take over owning apartments, like in Singapore and other smart places. Housing is a need, not an income stream.
@@Cha4k I’m never going to be loyal to Australia or a citizen I didn’t choose to move here. I have a right to be loyal to my Country of birth as much as any body born in Australia. I pay my taxes so I’m entitled to own my home
Moving from Germany to Australia about 17years ago, I was in disbelief of how bad the overall housing market was compared to Germany. Even if you have the money to buy a house, the house substance is a joke. Glorified tents for millions of dollars.
@@johney3734 mmh, that question can’t be answered in a short comment as Germany is very different north to south, east to west. Culturally and housing affordability. But very generally speaking you get wayyyy more bang for your buck in germany (there’s also an international ranking on that) especially in 2nd or 3rd tier towns.
@@steffengrossmann169 i want a safe place to bring up kids.. we make good $$$$ and we would be well off.. we are well off in oz but can not afford a home as we are born to late.. do you think war in Europe is the major safety risk?
@@polarnap How so when we're an aging population where the majority of voters will vote for more of what benefited themselves and will also in the future 🤔
That man needs to mention the huge impact of immigration, and foreigners purchasing our properties, on our housing affordability and availability. When I was a young adult, this problem did not exist...... I am sure it is complex, but immigration is important to address.
He is adjunct professor at Monash University. Academics will never bring up immigration when discussing the housing crisis because they want high foreign student intake. Insane levels of immigration is the single biggest issue with regard to the housing crisis.
@@Susan18762 Look around the world. Immigration is on steroids and it is basically a WEF agenda to undermine sovereignty and usher in a globalist new world order. The universities are all tools for the new agenda of world government so it’s little wonder this wasn’t mentioned
@@Susan18762 This is actually a false narrative. The real data shows that the most money in the housing in Australia is NOT foreign investment - but Super Funds. You have to limit negative gearing. Australia will NOT build themselves out of the problem. Developers are not going flood the market with new houses as they will not make money.
He works for the Unis, so the wealthy immigrants says he salary. The whole country is corrupt and selfish admittedly myself included. It is like hunger games..
I am an Aussie on the disability pension living with my parents. My severe neurological disorder means that the unavoidable social interaction of living with room mates would increase my already severe fatigue and reduce my level of functioning even more. I used to be able to afford to rent a 2 bedroom apartment in a regional city that had balconies. These days the only thing affordable, which is still more than what I used to pay for my old apartment and would require me to give up internet to be able to afford it, is a tiny one-bedroom unit in a country town with a couple of feet of kitchen bench space. Half the bench space would be taken up by my benchtop dishwasher because my disability means I cannot do dishes by hand. I also cannot leave to get out and about regularly due to my disability and these units have no private outdoor area at all. The floor space is so small that if I wanted space to do my exercise rehabilitation I would have to forgo having a couch or dining table. Without being able to afford internet, I would be stuck home all day with very little to keep my brain occupied. The internet usually provides my only form interaction with the outside world. I feel very lucky to be able to live with my parents at this point, who plan on buying me my own place in town with my dad's inheritance. If I did not get along with my parents and if we did not have intergenerational wealth I would be in a terrible predicament. I feel terrible for all the other Australians with severe disabilities who do not have this privilege.
As a disabled, young person with zero generational wealth, living in this country has made me suicidal. There is no justice in the Australian housing market.
@@ila9063wishing you well, please contact helplines or agencies. I know , from my own situation, they can’t help with housing and that’s very distressing. But please keep going if you can and get what support there is on your side. Good luck, you are important and you matter 🙏🏽
And then there's the more than 30% of "jobseekers" who have been unemployed for more than a year because they're actually disabled but centrelink is pretending they're not. Unfortunately, pretending somebody isn't disabled doesn't make them employable, it just makes them even poorer than a disabled person on the dsp. The government has let us all down. This is a rich country, so why are so many people so poor?
@@tealkerberus748 we've had government research go into the Centrelink problem and still no solutions years later. I guess it's just more fun to let the media perpetuate the "bludger" myth
I find it puzzling how a large area, naturally bordered by the sea like Australia faces housing issues when it could theoretically manage migration through legislation. It seems, however, that policymakers are not taking steps to address this.
@Mateomartinez-u1z Australia's population is concentrated on the coastline in about 6 or 7 or so major cities (depending how you count them). This is largely driven by access to fresh water. The centre of the country can't support large populations due to rainfall being more variable and infrequent, and the lack of mountains and valleys suitable for large dams/reservoirs.
Australia had a right wing government for 11 years in a row. They stopped building and maintaining public housing, and by the time we got a left wing government there were 300,000 fewer public housing dwellings than there were supposed to be, relative to the population.
@@leealex24 It’s been massive levels of immigration, foreign buyers of our homes and a tax system that prompts housing investment for the rich and a number of other reasons that have caused this ridiculous problem.
@@ZMack888 Immigration now is tiny compared to the number of refugees we took in after WWII. The difference back then was that we built enough houses for the demand. And yeah, foreign ownership and "investors" hoarding home ownership don't help. We need to cap house ownership at one per person, only for citizens or permanent residents, and ban corporate ownership of housing unless it's things like on-site accommodation for remote workers. Then let the government take over owning apartment buildings and rent them out at cost, and demand that zoning and building permits allow people to build enough houses for everyone - even if the NIMBYs don't like it.
@@tealkerberus748 No the immigrants back then like most other people built their own homes. Now everyone expects someone else to do everything for them. Not that you can get a reasonable priced piece of land anywhere useful these days.
@@Someb0dy1Day ah , so you want it all with no sacrifice at all? This is what is causing Australian housing problems: you spend more than you can afford. And yes, I am an immigrant, and I had to clean toilets in order to have a roof on top of my head. And instead of blowing my hard earned money on alcohol at the end of a working week, I choose to save and invest in education. And yes, I lived in the outback Australia ( Katherine NT) working 3 jobs.
It's so frustrating and sad, when our Politicians who are meant to be employed to look after the people living in their country, instead are only concerned about looking after themselves (i.e. majority have several investment properties) and large corporations. How did Australian Politics become so corrupt and don't give a stuff about the average Aussie battler.
I doubt it. People care more about this then any of the ideological driven policies offered to us by Labor. We are concerned about what is real and happening to us in the here and now. Climate change, race, leftism, rightism or whatever, nobody will care about any of that if they can't afford a home. Political parties will have to respond to this demand if they want the votes.
Our family is only one rent rise away from not having enough to pay rent. We sit in the dark, electricity is increasingly out of reach and we often skip meals.
Ohhhhhh.... Are you living in a city? I think move out, go to a small town, maybe you can buy a house there. . .it is better to have your own house than renting.
@@davidlp3019 I believe so, finding a job in a remote area can be difficult. . . big cities, big opputunities as they say. . . But, I prefer to go out of the city as I can plant, care fo poultry/livestocks as long as I have my OWN house...
@@Cha4k do you really imagine to be able to keep 1,4 billion Indians and 1,3 billion Chinese out of Australia and keep Australia around 24 million ? It is unsustainable
The housing crisis is due to greed all the way down the chain. My partner and i bought a home in 2017, 3 bed 1 bath on a 670sq block for $380k. If we were to rent this house out, rent would only be $450 which is our mortgage plus realty fees, lets say $550. The rent in my area is $750 per week. Home owners are just 100% greedy and taking advantage of people that need housing.
The cheapest place i could find .. my rent is more than half my income. I have to pay for everything else for me and my toddler with $150 a week: food, electricity, gas, water, nappies, medicine, clothes, petrol, phone, ambulance insurance. If the rent goes up when the lease renews, we'll be homeless
So much land yet most it's uninhabitable. It's not the realtors' fault most of the people only want to live in the cities inevitably resulting in some getting priced out.
Government own nearly all the available land and release very little of it for housing development. That is why realestate agents make lots of money off the high prices out there.
@@stephenw2992 There are reasons that land is not released. Only a small proportion of the continent is habitable at any density. We are in competition for that land with the other species here, and we have a terrible record of extinction.
Ban foreign ownership PERMANENTLY, there are plenty of countries that don't allow foreigns to own property, this isn't a radical move! Force all foreign owners to sell within 3-6 months or the government buys you out at 25% the market value, motivation to sell quickly.
Lol this is just not the angle mate. Rather this is the Aussie mum and dad with PPOR and 2 investment properties. This is the Aussie politicians with a portfolio of a dozen+ investment properties raking in the inflated capital gains and rental income. Australia has made investing in houses a national sport and the main stream media/those with vested interests are using foreigners and migrants as a scape goat for the issue that they have constructed.
The inability to reflect on the true reasons that are low interest rates on mortgages, low interest on savings, government encouragement, media generating a whole slew of property investment tv programmes and articles is why Aussies will continue to commit the same mistake again and again in the next few generations.
@@PatriusWloads of people with PR status are acting as proxy’s for foreigners to evade FIRB approval, only full citizens should be able to buy property and dual citizenship needs to be disallowed
Lack of housing security causes single mothers and their child (or children) lifelong trauma. It's inexcusable and unforgivable. You're absolutely right, housing rights need to be in the legislation so various reigning governments can't change & revert everyone's efforts and housing security for all, increases over time instead of decreasing slowing over the years like rust!
Its because unlike small european countries where there is usually another town or village 5 mins away there are huge distances and wilderness between cities and towns. As you said these countries are massive - too massive to have urban areas everywhere. I live in Perth, Western Australia which is a capital city of 2.1 million people. Outside of that you have a literal handful of towns between 80,000 to 20,000 which have decent facilities and job potential. Everything else is a small town sub 10,000 (usually under 5 thousand) with very little facilities and bugger all jobs. And thats in a place that covers 1/3rd of the entire continent! So you can see how we can run into a housing crisis.
@@ahpong it is a result of unfettered immigration driven by powerful vested interest and in direct opposition to the will of the people. No population on the planet should be growing if that growth is avoidable! And growth driven by immigrarion IS avoidable!
Simple facts are that no or low educated real estate agents value properties for sale. Secondly the banks should have valued homes because most of Australian homes are cardboard boxes and not even worth half of what builders charge. Government should simply develop new suburbs and make the land affordable to buyers.
You can't just develop new suburbs or we would have a billion people in Australia you need water you need sewerage you need facilities where is all this money coming from ?
Sydney is so unaffordable right now. It is like a trap. It looks glossy and beautiful on the outside then once you live here you are stuck with such a high cost of living.
Banks, financial institutions and property developers control the Australian policy makers....our Australian Two Party Preferred Government is a business not an Australian Parliament per The (original) Australian Constitution. Things will worsen for the majority of Australian Citizens and Residents as these moguls' greed is ALLOWED to run unashamedly rampant.
Yeah i think the problem is greedy landlords , good time to be invested in those sectors though hey youve missed out on making money me including my self made i made abit of money of it and im only a pensioner its called the stock market invest
It’s government that created this problem and people think government is gonna solve it. Please. Central Banks across the world printed money like there’s no tomorrow during the pandemic and we’re still dealing with the consequences. And this housing shortage combined with skyrocketing housing is part of that consequence.
@@googleuser4207 that is so true. You don’t think the government is going to give that money to poor people do you? Either way the government should not be giving money to anyone. Money is to be earned.
220,000 Australians fled Australia last year in 2023 for better lands. I don't know why Australians are sitting in apathy and not boycotting the federation, state, and territory governments and forcing complete change. Australia needs to be a strong one party socialist democratic system and repair all the damage the federation governments have done. How much more human rights housing abuse and terrorism can Australians tolerate from the Australian governments.
If you have a basic education you will be fine. This is fear mongering. I'm a forklift driver and own my own home 35min drive from Melbourne cbd. People just don't want to work for it.
@@Boababa-fn3mrno but they are wanting to live in areas like Sydney or have a huge house rather than buy modest or God forbid move into a working class suburb.
@@johney3734extremely poor insulation. Use more power to heat or cool the house which ppl end up paying more for their energy bills. So much hype but I think Australian Standards / Building code is pretty useless.
@@stephenw2992 The cost seems artificially inflated too. Something as basic as double glazing for example would make a meaningful difference to anyones home, regardless of climate...but for some reason its treated as some obscure luxury in Australia. By comparison, its been mandatory in europe for over 25 years and doesnt set you back extortionate amounts if you need it installed in older homes that might not have it.
Foreign students, high immigration, foreign ownership. We don’t have a country, we have a rampant foreign influx. The Labor Party used to be the party of care, but no more.
Australia is becoming a disgrace. Our pathetic government does not want to or is incompetent to fix the real issues. Instead focuses on dumb questions on the census
maybe if the people prioritize what is important they will live better. don't have to live on take away, every day go out, twice a year HAVE TO GO a holiday, need the newest smart phone even for the 12 years old etc. I arrived here in 1987 with my husband and one child. We lived in Adelaide for 13 years, I never worked because my health issues, my son went to private school we went one holiday for 6 weeks back to Europe and when we sold our first house we had a choice a buy a run down hobby farm in one of the most expensive tourist area in SA, and we paid it less then 6 years. Yes, we had only 5 or six max 3 days holidays and once in Tasie for 10 days. But now both of us living on age pension VERY COMFORTABLE, WE HAVE 2 CARS AND A VERY BEAUTIFUL HOME. but our first priority was not only fun, go out, wear the most expensive clothes. and now if I want I can afford that kind of luxury.. I don't tell anybody have to live like this but if they first choice the fun and the expensive gadgets and cars, then don't have to winging all the time.
Why are they not talking about mass immigration and foreign (CCP) buyers of residential property? Nearly all federal politicians are residential house investors, they don't care about the citizens only increasing their investment property values with mass immigration and opening the market to foreign buyers. The Foreign Investment Review Board regularly rubber stamps foreign investors purchasing existing housing stock.
Since 1980-STAMP DUTY INCREASES alone comprise 50% of house value over a lifetime. State Governments have escalated housing by taxing GST, FEES, LEVIES, CONTRIBUTIONS & CHARGES.
Exactly right and people who don't own a house never see that. They complain about rent but owning a house costs 3 times the amount. Investing is even worse now with all the new taxes. There will be less and less rentals available. That'll push rent prices even higher.
We have a Prime Minister whose "log cabin" sob story is that he "grew up in public housing" subsidized by government ... the *_grief narrative_* of those who are the victims of his & his ilk's decades of *"governance-incompetence"* ... is that their children are now being forced to grow up - not in "social housing" which is now an unattainable luxury - but in decrepit private cars & tents in the bushes on the side of the road.
Nonsense, you can not have a human rights disaster in a country that does not have a Bill Of Human Rights. Step one is to give human rights to all Australian citizens.
Yep. Local government (councils), forbid us to build, or to expand the land area of cities. Then we have all this government red tape, because government bureaucrats think only Aussies know how to build housing. Which is quite strange considering the "quality" of construction these days.
@@Elemenopi205 Lol, not true. There's rural towns way out in the outback but theirs not much an incentive to live out there when the jobs are in the cities.
@@kubabooba548 do you know that the rural towns are small and sparse. There are no housing there it’s mostly farming. I live in Australia. There’s shortage in rural housing too.
14 years ago me and my wife rent a decent room kitchen living room 1 bathroom flat for 270 AUD per week.. we saw the change after 3/4 years later the front Botany road started to traffic gem ( was unbelievable before one or two cars passed sometimes) our rent went up 400perweek ..!
as long as governments (not just australia, but the world over) continue to go into debt, society fails to support itself and forthcoming generations of borrowers and taxpayers become alienated from the cost of living. this trend got underway in the 60s and 70s and has never reversed course, the numbers have only gotten further apart.
Everybody's looking for the complicated solution it's just pure greed the corporations are squeezing so much money out of us so there's no left . On top of that you have landlords that keep putting up the price because the banks are being greedy .
Man, Australia used to be awesome 20 years ago I have so many fond memories of visiting Perth and Sydney as a kid. Sad to see it go to shit now. Not much better in Canada, liberals have ruined this beyond repair.
Perth is still dope. Just not possible for the overwhelming majority of people to own a home now unless you really want to hustle. I'm currently working between 6 and 7 days a week. Not easy. If interest rates don't fall within 2 years I may just give up and sell.
I live here and it's FUCKED. We are in A Great Depression. Not a recession, but A Great Depression. It just looks a bit different than it did back in 1929.
But the government didn’t tell ppl we are in a depression. Everything has become so expensive and it seems ppl can somehow afford the living expenses. I just don’t understand.
Singapore is too high of an expectation for Australia though lol They are so successful in so many aspects without any natural resources. Imagine Australia without all its natural resources, however lol
No, only countries with high immigration or open borders like the EU. Japan doesn't have immigration and doesn't have a housing crisis. It's simple maths.
@Leo-vk6qm Japan is very different from Australia in terms of housing issue. The country itself is aging. In Japan, there are many tourists and foreigners but very low birthrate and even with a low interest rate, people don't buy a house. Similar thing is happening in some Asian countries.
@@k10pq1 Yeah it's demographics are different, my point is that immigration means you immediately have more people to house, something Japan doesn't have.
We had a great system in my day, where you could rent government housing and then when you had paid a certain amount in rent equal to a deposit, you could own the home and continue to pay it off at the government loan rate until the loan was paid out. People quickly owned a home and took pride in it, and that meant that suburbs arose with decent gardens and landscaping done by proud owners. Then the Real Estate vultures swooped in when properties were onsold by children who had got a kick start in life because their parents could afford to educate and feed them. We have paid more than the cost of the house we are renting, and now it is priced way beyond our reach, and we are soon to be kicked out - God knows where we will live. So, now we become burdens on the state, and it could have been so different. Crazy, because the state set up housing to be affordable then gave it away and made it lucrative to own homes and rent them out with a golden windfall Negative Gearing. It is a recipe for millennial poverty.
Houses are for living in not for investing in. fix that and you fix the system, but the banks, unions and boomers will dethrone any party who does it unless it’s done over a generation.
@@shauncameron8390 You use the countries with the poorest countries Western hemisphere to put forth the Cuban model as an effective housing solution in Australia?
A house is a Human Right, not a commodity. It should never be looked at that way. Private housing by all means take the lions share, but not at the expense of everyone
Protection from the elements - shelter - is a basic human right. Unfortunately we can’t build houses ourselves as did the indigenous and post-war families. The availability of food is also a human right. What happens when the grocery shelves become empty? The population is left to starve? No, there’s mayhem. Because it effects the wealthy property investors as well as those who are struggling to afford shelter for their families. If you own a house for its intended purpose, the necessary rationalisation/reduction of housing prices will have little negative effect on the general population. It’s relative. The taxpayers/avoiders who own portfolios of properties using these for reasons other than their intended purposes as shelter might be impacted. The increased supply should largely soak up the current excess of renters. Why do you need more than one house? One rental property per household? Incentives for families who took out residential loans since 2019 when prices doubled? Housing is a basic human right in a developed country like Australia.
Besides higher English requirements, Australia 🇦🇺 also needs to check for national security risks. - Many Chinese students don't come to Australia to study, but to grab Australian intellectual properties and to *launder corrupt money by buying up big houses.*
Politicians need to be banned from owning multiple investment properties - currently, most of them do. As long as they have a vested interest in keeping prices high and supply low, nothing will change. The whole system is broken and needs an overhaul.
The reason why Australia is lagging is because of our superannuation. Our super is whats stabilising our ASX and large construction projects in the country. Thats it. When 20-35% of the asx is our super and that moves based on the REQUIREMENTS of the government not where WE need to be thats the only reason why we've been able to stay afloat for so long. But unfortunately now the supercharged immigration has reached a point where its reduced the average living standard and in turn caused not only a shortage in RENTAL properties but a drop in MEDIAN wages. The rental prices is due to investstors not being able to afford their mortgages causing a rise (same rise to the rise in interest rates) in the cost to rent.
Australia had a right wing government for 10 years. They stopped building and maintaining public housing, and by the time we got a left wing government there were 300,000 fewer public housing dwellings than there were supposed to be relative to the population. Source: I model housing for an insurance company, and I did a10 month research project into the prevalence and distribution of public housing (because these aren't eligible for private house insurance)
Bingo ! Policy during those years : The "market" will sort it out.The ideology of libcontards since day one. If the market was an individual, it would, by current moral standards, be locked away in a mental asylum.
The socialists won Australia in the 70's and was solidified in the 80's. We have been living in the wake of those draconian policies and thinking to this day.
@@Sideshowbob4100 if you assume 3 people per dwelling, those 300,000 non-existent dwellings would house 1 in 30 people in Australia. It was a decade of Liberals that gutted public housing. Rental affordability and entering the housing market have never been more difficult
@@SerendipityChild government policy should be creating an economy that lifts people out of public housing into the middle class. Not creating an economy where more government housing is needed. Government spending and government inflation of the money supply increases the cost of everything including housing. The RBA also kept interest rates low that created an artificial economy of cheap money. Increasing the population in the short term added increased competition for housing. The unaffordability crisis is caused by policy makers in the Australian government not understanding basic economics or how the money supply works.
@@jimmyflawless 100 percent correct. But the far left lie is it’s a global problem so you can’t blame us. Many western governments are hell bent on self destruction so here we are.
@@jimmyflawlessYup, corporations bribing politicians to import cheap labour which undercuts wages and pushes house prices up. It's not rocket science.
I have lived through several life threatening health issues and I keep asking God why am I still alive. Born in Glasgow 1954, arrived in Australia aged 9 and 48 years later returned to the UK. The only reason I can come up with is that God wanted me to see how corrupt the world is. Doesn't matter if it's London, New York or Sydney it's all the same. I was fortunate to dabble in property when Australia was still a decent place but I'm no business man so things didn't work out. Australia was a brilliant paradise but rotten politics ruined it. Like everywhere else if you have money it's much easier.
Why are they even advertising and taking 50 plus applications..they are prejudice. It's so unfair. 30 years ago I had a choice of 5 plus houses. They had homes sitting empty waiting for families. Not now, Australia is so broken.
During Covid when all the international students went home we had excess rental properties. As soon as they were allowed back, I got evicted, to make room for them. I cannot afford to live in the city I WAS BORN IN. Fact.
It is not a global problem, it is mostly a problem in the Anglo-Saxon hemisphere. In Europe, countries like Germany, Austria, Switzerland, Holland have very affordable housing. There is no negative gearing in these countries. The government holds a good chunk of public housing in these countries. Tenant rights are also very strong in these countries. Housing is not primarily a speculative asset in these countries.
@@28FlyingDutchman I have lived in Germany for over 22 years and can tell you that is utter rubbish. Germany is the biggest country in Europe and everytime NATO starts some war, Germany always gets the bulk of refugees. Hundreds of thoysands of Syrian refugees arrived in 2015 and more than a million have arrived from Ukraine. However, you must note that Germany has over 80million population and most of the polulation is concentrated in Berlin, Hamburg, Munich, Frankfurt, Koln and stuttgart. There has been a moderate rise in real estate prices since 2018 when many foreign firms got into the german real estate markets buying up millions of home and trying to up the prices to international standards given the price difference to london, new york and other states. There has been major push back from local governments and the increase is nothing like you have in Australia. I challenge you, go online and check the prices of houses and appartments in Berlin and compare with Sydney. It is no where close. The main difference in Australia is the government allows for negative gearing. Ask the average Australian what negative gearing is and they have no clue. If you are wealthy in Australia or earn a very high salary, the government allows you to use real estate to offset some of your taxes legally. Only real estate. That explains why everyone tries to park money in real estate. Now, i know you are watching a lot of youtubers, content creators from a particular segment making tons of noise about immigration in Germany. Yes, the Ukraine war has brought in further migration but is nothing like you get on youtube. This is just another rinse, repeat phenomenon. Everytime there is some economic crisis looming, same talking points and headlines. In Germany, with the government spending big on war, immigration and actions like nordstream destruction, it is clear these talking points will be headlines for a while. Don"t get carried away by social media. This is all not new. Yes, certain political parties will gain in the short term while playing the immigration card but it won't last. It's all justba Dejavu. Many content creators making content whilst travelling the world as digital nomads from Thailand and the like trying to tell everyone how bad everything is without having any first hand experience, just amplyfing news they found on internet. In 2 years time, the world would have moved on to other talking points.
I have relatives in Austria and their housing affordability and accessibility ensure no-one is homeless and nearly every citizen has a home they can call their own. Far superior to anything we have here.
People of past generations have fought these trends. You are buying the divide and conquer propaganda of the news media, which pretends that elderly people selfishly benefited from low-cost housing to the exclusion of young people. It is ridiculous. Australians have been keeping their family sizes small. They have not caused this problem. The endogenous rate of population growth is currently about 0.5% but the growth from immigration is 2%. (Huge!) It is the governments that have been growing the population through mass migration, without democratic consultation. How is this the fault of 'boomers'?
The government doesnt care, they are all property investors who are mates with developers. I can't afford a home in my country, why do i even pay taxes...
This has less to do (although not completely) with negative gearing, immigration and foreign investment (actually quite the opposite) as most commentators here are quick to point out, and more to do with systemic issues plaguing key public sector institutions which influence and control housing supply. Mainly these issues can be summarised as 1) poor policy settings at the federal level stemming from a lack of understanding of basic economics, exacerbated by political posturing, 2) Ineptness of those charged with planning authority at the local level (less so at the state level), in part due to the lack of incentives required to attract more appropriate/capable labour/skillsets within these organisations. What must be addressed is a lack of supply. What we need is to encourage foreign investment, particularly institutional foreign investment (sadly local capital such as superfunds don't have the appetite and would rather invest abroad) to deliver medium and/or high density dwellings (where appropriate and in locations capable of being supported by existing/planned infrastructure and services). Otherwise, who is going to deliver the housing and who is going to pay for it?
There is a very high level of entitlement in Australia. This combined with a high level of migration, and a dumb mining economy, combine to produce silly outcomes. The welfare system is overly generous and acts as a drag on motivation and creativity. Young people have probably given up trying in this climate of out of control inflation and economic stupidity.. eg I paid 27 dollars for a burgerand chips 2 days ago, how absurd. Also the number of government employees and overpaid unionised workers helps crearate a two tiered system of haves and have nots. Also we manufacture very little here. I'll tell you how I really feel next time
Every Australian is beyond blessed. The world ain't all sunshine and apple pies in 2024. Don’t take my words see for yourself. I love you my countryman. Stay blessed ❤🙏🇦🇺😊
@5:55 "Treat housing as a commodity like any other... investing in a mine". This betrays an underlying confusion of his own point. It would be great if housing was treated like a commodity. Investing in a business is NOT like investing in a commodity. There are many things that we treat like commodities (food, water, electricity, transportation, mobile phones) that are completely necessary, and if where limited, would be a catastrophe in the same way housing currently is. It's specifically BECAUSE we do NOT treat housing like a commodity that we are currently in this mess. We are treating housing like assets, which in turn, drive voting and local action behavior at the expense of those who are locked out of the "market". This is no market.
Pals. The rich is getting richer. They have to invest their money somewhere. It's either stocks, gold, bonds or real estate. The more the wealth inequalities will rise, the more the real estate will be bought by the rich and the regular dude will have none. As simple as that. Deal with it, it only becomes worse from then on, and until we put up global tax systems. Social housing alone solves nothing as it is funded with local taxes, which the rich don't pay much.
my son and his wife gross between them $200k yet thes srruggle to make ends meet. they live in rural costal NSW and pay $800 pw rent ( the cheapest they could find in the area , with very limited rental properties avaliable, it cost the $650 pw for their weekly shopping for them and their 2 children, not to mention utility bills, car loans, insurances, registrations, car maintainance, clothing, medical, schooling etc etc. The Australian government ( both Liberal & Labor ) - two wings of the same Vulture, are hell bent on destroying middle class Australia, and over running the country with migrants that have zero respect for our country or our Australian Values and way of life. This is a deliberate “ Cleansing” of Australians.
What an ignorant, selfish, and racist comment. Did you know that 40% of doctors and nurses in Aus are migrants? I'd like to see your opinions on healthcare quality, if your country wasn't being held together by a migrant workforce. And unless you're aboriginal, your comment about the "cleansing of Australians" is nothing but extreme irony.
our family is on200K and we can not get into the housing market.. a doctor family has to do gov schools now unless you got into the housing market 15 years ago
More like Libab being two cheeks of the same Rs with Brandt poking out in between, its the age of the wage slave like the peasants on the lords estates being worked to death for zero.
3:18 In which universe has the conversion of housing from a consumer commodity into an investment vehicle been “wildly successful” for the Australian economy? Speculation on housing has literally diverted billions upon billions of dollars away from investment in productive capital.
Australia neglected a fundamental housing policy as part of its responsibility for its population. Is it lack of sophisticated thinking or lack of compassion, or deliberately done for the politicians benefit as so many have their own large real estate portfolios. I have the feeling it’s all three.
Housing crisis, health crisis, cost of living crisis, debt crisis, inflation crisis, EU war crisis, middle East crisis, bank crisis, retirement crisis. How many crises can a koala bear?
I was just thinking the same... I'm approaching retirement with comfortable millions, yet scared of leaving my savings in the bank, pondering if I should just buy gold to preserve and grow my money
gold to me is an inflation hedge for long term, but not quite profitable in the short run, you can get more insights or guidance from financial advisors
Agreed, the role of advisors an only be overlooked but not denied. I was shocked that I made more money with investing than hard work, not even my CEO income. Earning ''return on investment'' fetched me millions within a space of 5 yrs.(But I still enjoy working)
sounds great! i've never utilized a financial advisor but enthused about making money from the stock market, could you be kind enough with info of the advisor guiding you please? I could really use some guidance
Personally, I delegate my excesses to someone of great expertise ''Annette Louise Connors" preferably you can look up the name on the internet, her qualifications speak for itself.
A house is somewhere to live, not treated as a way to make money at the expense of everyday people. this is absolutely shameful. not so lucky country.
@@eagleeye9277 Hasn't been the lucky country for at least 20 years.
LOL. Real everyday people don't rent but own their homes.
the Australian government are evil
This be a racist statement. Housing is an asset and you are just upset that rich men from non white lands can force you out onto the street so that they can park their money in your town.
Then try to out vote the 60+% of home owners. Pretty sure they want their assets to increase in value while they sleep.
Do people realize that the biggest money donors to Australian politicians are big developer and real estate agents? This needs to be investigated and if any influence peddling is proven, harshly prosecuted.
@bflmpsvz870 it unfortunately is a positive loop; the more the developers etc. get financial incentives from policies the more they can afford to donate and thus can push for more preferential policy treatment and make even more money.
@@bflmpsvz870 The people that live in Australia already that have been building houses for many years. They can train more young people.
@@myday2704you can bring in temp cheap workers from overseas as well like Dubai etc.
Do people realize that politicians are just puppets in the back ground?
Australia is run and owned by the property sector. These powerful dictators own our politicians and our media. All you have to do is turn on the TV in the morning to see economic shills paid for by the property sectors frothing at the mouth telling Australians to buy property now and saying how great the price gains have been. In many ways we live in a society which is hell bent on brainwashing us to love property. We turn on the news we see endless stories about property we try to relax and there are tv shows advertising property. It's an unhealthy obsession that is rammed down our throats by the property sector.
Well, approximately 86% of Australia's federal politicians are also private landlords on the side with multiple rental properties. THAT is the biggest issue...
@@Funkteon it should be unlawful for them to use their real estate portfolios for rentals.
It's literally a conflict of interest, it should be illegal for them to, because they are increasing their wealth by purposely not fixing the problem. Japan fixed its housing crises with a huge population and little land. There's no reason why we can't, if we have politicians who want to fix it.
CORRECT! Google search>>>> "How many properties do politicians own? A public register of their interests provides the answer"
Australian here, to any fellow Australians here it is as simple as this, if you political party of choice is not willing to remove negative gearing they will not solve our housing crisis AND THEY ARE BENEFITTING FROM IT. This is a bipartisan issue. A family making average income trying for their first home should not be competing for a house against a mining executive looking for their 10th investment property to reduce their tax.
It should have never been a option to avoid Income tax through housing. People are driven on incentives and we have pitted the wealthiest in our country against the poorest in a market that is a critical need for everyone.
Foreign investment is also creating added competition but it is negative gearing that is killing us first and foreign buyers second.
Also .. Google easiest countries to launder money (through real estate easy p z).. and you'll find why so many love Australia ! Politicians either stupid or corrupt or both. People are suffering !!
Vote Greens
@@Skatted 🤣🤣
@@Mgjuvfoss yeah vote libs
@@SkattedLibs. Just the other side of the same coin.👎
It is absolutely surreal how irresponsive the Australian government has been with this disaster. We are almost into the third year of the Labor leadership and there is absolutely nothing even being proposed.
I mean technically they have if you haven't been paying attention.
Not that I think it will help much. it's just a distraction and just kicking the can down the road and let someone else deal with it.
Labor can’t solve a problem created over decades in a single term. It’s not realistic.
Plus there is a supply and labour shortage in the building sector so labor can’t just pour money into the building sector right now without driving up inflation. It’s a very complex problem.
Australian government is very responsible now. Only for the peoppe with power and money. More immigrants leads lower human cost and more expensive houses will give benefits for the people owning several houses and who have money to build several houses.
@@JD-hi6tw the massive immigration post covid lockdowns are visa’s the liberal party approved that were delayed because of covid.
The current gov needs to honour its promises or no one will ever trust it again.
Like I said Labor can’t solve problems in a single term when the Liberals left the country in such poor shape.
Until people realise what is really going on, the masses will remain ignorant. The real truth is the Govt is doing this on purpose and they have been instructed to do this via their masters Black Rock, the WEF members etc. When you understand the Govt is purposely pushing society in this direction you will be able to see the situation from a fresh perspective. The Govt wants to re-set society financially so their masters ( Black Rock ) can then bring in digital only currency and enslave everybody into the new re-set system. They cannot achieve this ubtil society is soooo run down, people will beg to take on a new system that will be offered,. AND BTW.. while this is all happening with the housing market.. Banks are making record profits.
It is difficult to make exact projections for the housing market as it is still unclear how quickly or to what degree the Federal Reserve will reduce inflation and borrowing costs without having a substantial negative impact on demand from consumers for anything from houses to cars.
If anything, it'll get worse. Very soon, affordable housing will no longer be affordable. So anything anyone wants to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.
The new mortgage rates are crazy, add to that the recession and the fact that mortgage rules are getting more difficult, and home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes. For now, get your money (as much as you can) out of the housing market and get into the financial markets or gold. If you are at a cross roads or need honest advice on the best moves to take now, it is best to seek an independent advisor who knows about the financial markets.
I will be happy getting assistance and glad to get the help of one, but just how can one spot a reputable one?
'Jessica Lee Horst' is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Thank you for this Pointer. It was easy to find her handler, She seems very proficient and flexible. I booked a call session with her.
Housing in Australia is now used as an investment scheme rather than to provide a roof over heads. When I grew up the 80s we had it all, opportunities to buy for 3x your annual wage, and there were loads of subsided social housing available. This meant the young, the poor and middle class alike, all had opportunities to meet people and have families. Now it's 5 people share housing to make ends meet or its kids staying at home watching the internet in their 30s. God help the future of these countries and their social health.
@@SanctuaryLife housing has was been an investment . It the only normal people can invest in and get a return. If u want a roof over your head rent.
@@benjamin1435-k6n There IS no where to rent. That's why families are living in tents. Your turn will come when the WEF agenda fully kicks in and we're ALL starving. It's not about national politics - or "getting ahead" it's the Globalist Takeover and this is just stage 1.
@@benjamin1435-k6n If you're telling people "just rent" like it's easy and not an unaffordable feeding frenzy, then that shows you know nothing about the Australian property market as it affects real working class people 🙄
@@benjamin1435-k6n every cent of the inflation we have today , is from investing in property and wages not keeping up .
if wages stayed at 3x the lowest wage , housing would not be a problem
@@grizzz6884 thats not how inflation works . Wages have been stagnate because australia decided to gut they entire manufacture base and move towards more of service economy. Housing is unaffordable not because of 'investing' but because of simple supply and demand.
For the crisis to have gotten this bad there has to have been people who wanted this to happen. Australia has become a speculator's market, and the speculators hold the political power.
A lot of Australians don’t want this problem fixed.
So much wealth is just waiting in someones account for them to make any sort of decision. Regular people can't afford to make the best market decision since large property developers and holders can afford to wait to see what politicians decide as policy. Regular people will just have to pray that doesn't ruin the mortgage that they are trying to pay off since forever.
It's the voters who wanted this to happen. We had the chance to change it and we voted for the tax benefits for people buying their second home and not buying their first.
labor libs and nats want this to happen.. they take bribs to make it happen for 40 years
short our currency, it will collapse - they wont fix the situation and as such the value of our economy will deteriorate. people will think theyre getting "richer" by holding property but the value of the Australian Dollar will continue to suffer greatly.
My rent has increased by $500 per month over the last 2 years. It’s insane.
The property owner also owns 11 other properties. 1 person owns 12 homes. That speaks volumes about the situation.
Exactly this !
It seems like they're providing 12 units for rent. Since the rent went up $500, that tells me that there are not enough units for rent. They need to own more units. More units need to be built.
it should be 1 home per person would fix this
@@FreedomTalkMedia correct. However, the government will make sure via immigration settings, that demand always outstrips supply. And the reason for this is very simple...they can't be responsible for popping the bubble, as doing so will see them lose power. Significantly cut immigration in the problem is solved, but unfortunately it creates a bigger problem in the short and medium term.
Can't even afford a 1 bedroom flat, born in Sydney worked my whole 20s saving a deposit. But housing went up 30% in 1 year under this government during Covid and continues to go up. Impossible it affects you everyday you begin to resent this country and the people running it.
Needed to buy then, if you could go back in time, would have been best to take the mortgage insurance hit. I've also missed out, not much can be done now.
@@Whyunounderstand Check out the studio flat currently for sale in Potts Point for 350k. Otherwise can get 1 bedders in Blacktown for 400k. I agree though the whole covid shitshow screwed the housing market when prices went up steeply and suddenly.
You are deluded. This government wasn't in power during covid.
You can thank our lovely government for this. At the moment they are desperately struggling to keep this nonsense going...
lol earlier last month there was a total thrashed dump of a place complete with hobos' dick cheese that sold for like 1.4m.
A decent and dignified life... good luck with that in Australia these days
@@shortmemory I'm off to SEA, not perfect but at least people are generally happy there.
@@dudemanismadcool no Centerlink mate think about it.....dont jump
@@MrProzacmilkshake this is good
@@dudemanismadcoolI moved to Thailand at 30, ten years ago. Best decision ever.
An affordable and reliable energy supply is what we had and what we need. Forget the wind farts and sun catchers.
Yup I’m 58 and I’m homeless with my dogs living in the storage area of my barbershop I pay my taxes workcover, salary to my staff their super , I pay insurance and electricity. I can’t afford to live anymore what’s there left to live for can’t even afford groceries most weeks . Australia is the worst country in the world 🇦🇺🥴
Don't forgot to vote Labor. I am sure rich Chinese students are fine living in Sydney off their parents money.
I'm so sorry Paris.
58? You had it a lot of opportunities to buy. Its impossible for 20 somethings.
Why would you pay someone if they are costing you money?
@@parisdevine8553 That's been your choice m8. You are the same age as my father the fact that you still don't have property means you've been wasting your income on the wrong things!
The commodification of shelter is the worst thing to happen to capitalism.
Private property rights are essential though
Thank you Bloomberg for allowing us to comment, in Australia our news media turns comments off, no freedom of speech in Auztralia.
Same in Canada. They also prop up our silly PM Justine Trudy.
Not the news media I use. Try SMH
@@GoodWhinger Thank for the tip, feels liberating not to be silenced for a change, shame about the other 99% of the media, Australia is a fake democracy.
he just dont not care.. dont confuse it for compassion
I could be wrong, but I believe Aussie media rules allow the host UA-cam channel to be sued for the comments made on that channel. So if you open the comments on a news channel, and someone goes off the deep end and slanders someone or makes a terrorist threat etc, the host channel can be held legally liable. To avoid that, they simply don't allow comments.
And to think we’ve actually got “housing” ministers in government that have done absolutely nothing to mitigate this disaster from happening for decades!!! Exactly what are we paying their wages for with our taxes?
@@Jojoxxr their wages
Wat yes they have lol . They have made it worse. By design. If they could get away with it they would stop all building lol. All about portfolios
I’ve advocated to half their salaries, but they keep getting an increase year on year
The problem is that a significant proportion of Australians are property owners and have done extremely well from two decades of price growth. A lot of voters don’t want housing affordability.
@@budawang77
They're actually the majority.
Ban foreign investment for the next few years and dramatically cut immigration. Remove negative gearing and start investing seriously into social housing on a scale similar to Singapore.
Investing into social housing is now part of the problem, unless you build concrete junges, it drives government spending and inflation making it harder for everyone else. It is also a part of corruption in a number of western nations...
In Singapore you get to own it , here it costs a fortune to upkeep . Mostly due to damage .
We should print money and buy everyone a house.
@XSquidbeatsX
Sure,if you're happy to end up paying $1000 for a loaf of bread due to hyperinflation.
@@S.M.E.A.C That’s what central banks do anyway.
Politicians need to be brought to a royal commission for profiting through multiple properties on the side as well as the massive private housing sector donations. This has been created by corruption and politicians need to be held accountable for being private enterprise spokespeople.
It's all planned and therefore you have to ask why? What's coming? Something huge is coming in the next few years. Don't be in the city when the lights go out!
You allowed government into the housing industry, now government is enriching themselves and their buddies. You could have seen this come to fruition? Ask any libertarian and they could’ve told you what was going to happen if you allowed government to control housing.
I think you overestimate how much the politicians actually end up with and there's no mention of the overseas landlords charging ridiculous amounts or the Chinese buying up houses so no one can live in them . But of course if young people would actually get off their ass and do something instead of playing games we may have better politicians but that's not going to happen
@@James-kv6kb If you know that much mate, you know foreign ownership isn't the problem. You're fronting. How many properties do you have while children are homeless for their whole childhood? If boomers and politicians didn't get us here, who did?
@@abrighterday508 I have been suffering with overseas landlords all my life I have never owned any property and I wouldn't buy it anyway and I don't have any kids because I was born differently so stick your bulshit up your ass
You will own nothing and you won’t be happy
I'm already there.
But a significant chunk of the population still own houses
@@Boababa-fn3mr a significant chunk of properties belong to the bank until people’s mortgages are paid off
@@agirlfrommars3441 yeah, and a significant chunk own them outright with no mortgage
@@Boababa-fn3mr how do you even break this cycle ?
there is NO LIMIT on how many properties overseas buyers can buy. NONE.
and they do not have to rent those properties out ! just sit there, empty, watching the price go up...for doing NOTHING. meanwhile we die.
Got all out of control 2 decades ago. All because of Greed.
@@roar1964 and no end in sight
This problem could be easily solved with 3d printing. You could build new housing with 3d printing for a fraction of the time labor and material costs.
With $30 000 to $50 000 you could build a brand new house for a whole family in just a few days or weeks with much less equipment and labor.
Your powers that be don't want that, thou.
That is the problem.
Forget about 2 decades ago, the last government was in power for ten years and defunded Tafe, so there was going to be no qualified tradesmen.
It's weird Australia such a big country, but not enough houses? What a joke.
Yep Australia is suffering a greed sickness which blinds them to any compassion for their fellow man or any common sense period. Similar to Smigel off lord of the rings, their precious house.
As a 57 yo woman, always worked, I am now homeless. I was, after years of insecure ‘housing’ ( couch surfing and housesittting), offered social housing. There I was subjected to extreme acts of violence from fellow tenants who obviously needed more supported housing due to mental health issues. For my own safety I had to leave the social housing because the attacker was still there. Rentals are 100% unavailable to me both financially and due to lack of stock. Dozens of people vying for each property. Too many houses being turned into Air b &b, no interest by the powers that be in creating more affordable housing.
Most politicians have portfolios of real estate. More people make their numbers go up. Huge conflict of interest. We are asking career self promoting narcissists to do something against their own financial interest. This problem is making them rich.
Exactly
The fact that the Labor Government allowed 750,000 migrants in to Australia over the 2023-2024 period all in the wake of the Covid-19 pandemic is criminal in my opinion.
Too much demand for supply, hurting young Australians most
It is a lot more than 750,000
@@InfinityIsland2203 Would you please advise me on what you believe the true figure is? The figure I quoted above was on a government website and did not include foreign students who either rent or their parents buy property for the time they are studying in Australia.
@@InfinityIsland2203 they let in millions! and continue to do so on fairy floss visas
We pay tax to upkeep a system that gives us security. What happen if that security no longer exist, why do we still pay tax.
Because you don’t have a choice. That’s the whole point of cartels.
Now you're just paying to support a massive public sector that gives you almost nothing back.
To pay the salaries of the ever-bloating public sector.
Maybe look who you are actually voting for. The liberal party just makes the rich richer, vote Greens.
@@andyruth5333 someone has to pay for Albo big computer
The same goes for aged care. There needs to be more government run facilities and less money grabbing private companies. Government housing needs to be larger like Singapore.
The most affected is our pensioners
@@wanderingambience799 same for childcare. It should be rolled into the public school system
Same with private hospitals which are run like private prisons. Least amount of staff as possible for all the patients, so you could have 2 nurses for 30 patients.
@@vulpes122it's worldwide problem
@@vulpes122 Nurses when they speak you need a translator to understand what the fcuk they are saying
Where I live in Adelaide, the average house since 2019 has risen somewhere between 300-400 thousand dollars. My wages in that time in total has risen 10% over 4 years. Today you need around $170,000 just for a 20% deposit. Unless you have rich parents in Australia you’re u likely to ever own property here.
@@rossbaker9721 it's silly to save 20% in a rising market. Pay the minimal deposit needed and take the hit on LMI.
A house in my suburb was sold in 2006 for $1.95 mil, now it is on contract for $7 mil.
Wow that is cheap. Here in Toronto an old basic bungalow starts at 1.5 million. Meanwhile in the us prices are half to one quarter of that
The Aus Governments continue to take with 2 hand and give back with one finger( 1st home owner grant). The house price is more than 50% fees and taxes (stamp duty, transfer duty, land tax, Gov tax on bank fees and insurance costs, Qleave, payroll tax, builders plumbers electrician licence fees, excise tax for material delivery, council application fees, infrastructures charges, environmental offset black mail and don't forget 10% GST on top of all the taxes).
Buying Australian homes should be for Australian citizens only. That alone will help the housing crisis tremendously
Being a citizen shouldn't entitle a person to hoard home ownership either. Have an ownership limit of one house per person and no corporate house ownership unless it's on-site accommodation for remote workers. I don't see a problem with non-citizen permanent residents owning a home, but again - only one house per person.
And let the government take over owning apartments, like in Singapore and other smart places. Housing is a need, not an income stream.
@__martian__ I totally agree. In Australia there's houses are bought by the Chinese who are living in China. They don't rent it to nobody
@@Cha4k I’m never going to be loyal to Australia or a citizen I didn’t choose to move here. I have a right to be loyal to my Country of birth as much as any body born in Australia. I pay my taxes so I’m entitled to own my home
Moving from Germany to Australia about 17years ago, I was in disbelief of how bad the overall housing market was compared to Germany. Even if you have the money to buy a house, the house substance is a joke. Glorified tents for millions of dollars.
we began as a colony for crooks ... the crooks are now in charge
@@peterward9446 definitely the cashed up ones.
hmmmm we are looking to bye a home.. got educations do you think we should go to Germany ?
@@johney3734 mmh, that question can’t be answered in a short comment as Germany is very different north to south, east to west. Culturally and housing affordability. But very generally speaking you get wayyyy more bang for your buck in germany (there’s also an international ranking on that) especially in 2nd or 3rd tier towns.
@@steffengrossmann169 i want a safe place to bring up kids.. we make good $$$$ and we would be well off.. we are well off in oz but can not afford a home as we are born to late.. do you think war in Europe is the major safety risk?
Halt immigration for 10 years and focus on housing the citizens.
Young people have the majority vote next election. Make housing the most important issue 👍
It’s always ‘the next election’, never the present. Nether side will do anything to fix this problem
Neither party will do anything about it
That’s why young people are voting Greens. Because they are fighting for renters rights and to end negative gearing :)
@@indiasweeney996 No we're not.. anyone voting for the Greens has serious mental defects
@@polarnap How so when we're an aging population where the majority of voters will vote for more of what benefited themselves and will also in the future 🤔
That man needs to mention the huge impact of immigration, and foreigners purchasing our properties, on our housing affordability and availability. When I was a young adult, this problem did not exist...... I am sure it is complex, but immigration is important to address.
He is adjunct professor at Monash University. Academics will never bring up immigration when discussing the housing crisis because they want high foreign student intake. Insane levels of immigration is the single biggest issue with regard to the housing crisis.
@@Susan18762 Look around the world. Immigration is on steroids and it is basically a WEF agenda to undermine sovereignty and usher in a globalist new world order. The universities are all tools for the new agenda of world government so it’s little wonder this wasn’t mentioned
@@Susan18762 This is actually a false narrative. The real data shows that the most money in the housing in Australia is NOT foreign investment - but Super Funds. You have to limit negative gearing. Australia will NOT build themselves out of the problem. Developers are not going flood the market with new houses as they will not make money.
If they don't mention immigration, they aren't really interested in solving the problem.
He works for the Unis, so the wealthy immigrants says he salary. The whole country is corrupt and selfish admittedly myself included. It is like hunger games..
stop printing money.. and kick out foreign house prospectors including funds.
@Maria-sz1fc in my country Iraq, I'm glad Saddam Hussein didn't allow foreign banks in Iraq. He banned it
Yes. But. Visa. Selling. And. Renewing. Is. Rolling. Over. Big. Bucks. For. Gov.... Thou. Look. At. The. Homeless. Damage. To. It's. Citizens .very. Sad. It's. Appalling. Of. The. Australian. Government. To. Allow. This .absolutely. we. Need. Proper. Actions. To. Help. Those. Affected .. govs. Need. To. Be. Accountable. To. This. And. Also. For. Opening. Landfills. Too. Close. To. Homes. Causing. Sickly pollution. For. Yrs...that's. Can. Take. 10. Yrs. Or. More. To. Be. Addressed. Govs. Have. Been. Guilty of. Non. Activity ,poor. Planning In. There role. In doing. The. Right thing. By. It's. Citizens🎉🎉🎉
@@JohnMikhail-q8flook what happened to him….
I am an Aussie on the disability pension living with my parents. My severe neurological disorder means that the unavoidable social interaction of living with room mates would increase my already severe fatigue and reduce my level of functioning even more. I used to be able to afford to rent a 2 bedroom apartment in a regional city that had balconies. These days the only thing affordable, which is still more than what I used to pay for my old apartment and would require me to give up internet to be able to afford it, is a tiny one-bedroom unit in a country town with a couple of feet of kitchen bench space. Half the bench space would be taken up by my benchtop dishwasher because my disability means I cannot do dishes by hand. I also cannot leave to get out and about regularly due to my disability and these units have no private outdoor area at all. The floor space is so small that if I wanted space to do my exercise rehabilitation I would have to forgo having a couch or dining table. Without being able to afford internet, I would be stuck home all day with very little to keep my brain occupied. The internet usually provides my only form interaction with the outside world.
I feel very lucky to be able to live with my parents at this point, who plan on buying me my own place in town with my dad's inheritance. If I did not get along with my parents and if we did not have intergenerational wealth I would be in a terrible predicament. I feel terrible for all the other Australians with severe disabilities who do not have this privilege.
As a disabled, young person with zero generational wealth, living in this country has made me suicidal. There is no justice in the Australian housing market.
I empathise and wish you well, it’s very hard.
@@ila9063wishing you well, please contact helplines or agencies. I know , from my own situation, they can’t help with housing and that’s very distressing. But please keep going if you can and get what support there is on your side. Good luck, you are important and you matter 🙏🏽
And then there's the more than 30% of "jobseekers" who have been unemployed for more than a year because they're actually disabled but centrelink is pretending they're not. Unfortunately, pretending somebody isn't disabled doesn't make them employable, it just makes them even poorer than a disabled person on the dsp.
The government has let us all down. This is a rich country, so why are so many people so poor?
@@tealkerberus748 we've had government research go into the Centrelink problem and still no solutions years later. I guess it's just more fun to let the media perpetuate the "bludger" myth
these reporters talk over the guest and then start typing while he's talking.. so unprofessional
I find it puzzling how a large area, naturally bordered by the sea like Australia faces housing issues when it could theoretically manage migration through legislation. It seems, however, that policymakers are not taking steps to address this.
exactly
@@Mateomartinez-u1z correct, it is by design
@Mateomartinez-u1z Australia's population is concentrated on the coastline in about 6 or 7 or so major cities (depending how you count them).
This is largely driven by access to fresh water.
The centre of the country can't support large populations due to rainfall being more variable and infrequent, and the lack of mountains and valleys suitable for large dams/reservoirs.
Australia had a right wing government for 11 years in a row. They stopped building and maintaining public housing, and by the time we got a left wing government there were 300,000 fewer public housing dwellings than there were supposed to be, relative to the population.
Large chunk of our country isnt habitable
It's weird Australia such a big country, but not enough houses? What a joke.
@@leealex24 It’s been massive levels of immigration, foreign buyers of our homes and a tax system that prompts housing investment for the rich and a number of other reasons that have caused this ridiculous problem.
@@ZMack888 Immigration now is tiny compared to the number of refugees we took in after WWII. The difference back then was that we built enough houses for the demand. And yeah, foreign ownership and "investors" hoarding home ownership don't help. We need to cap house ownership at one per person, only for citizens or permanent residents, and ban corporate ownership of housing unless it's things like on-site accommodation for remote workers. Then let the government take over owning apartment buildings and rent them out at cost, and demand that zoning and building permits allow people to build enough houses for everyone - even if the NIMBYs don't like it.
@@tealkerberus748 No the immigrants back then like most other people built their own homes. Now everyone expects someone else to do everything for them. Not that you can get a reasonable priced piece of land anywhere useful these days.
If you want to live in the Australian Desert, be my guest.
@@Someb0dy1Day ah , so you want it all with no sacrifice at all? This is what is causing Australian housing problems: you spend more than you can afford. And yes, I am an immigrant, and I had to clean toilets in order to have a roof on top of my head. And instead of blowing my hard earned money on alcohol at the end of a working week, I choose to save and invest in education. And yes, I lived in the outback Australia ( Katherine NT) working 3 jobs.
It's so frustrating and sad, when our Politicians who are meant to be employed to look after the people living in their country, instead are only concerned about looking after themselves (i.e. majority have several investment properties) and large corporations. How did Australian Politics become so corrupt and don't give a stuff about the average Aussie battler.
did you know Australian politicians have a minimum of 2-4 homes themselves.... seems like its self interested policies
@scarytime6420 many have 50plus portfolios lol conflicts of inerest IS ILLEGAL
Australian fed politicians own over half a billion dollars worth of property
They also don't do shift work so you won't find penalty rates improving any time soon. Ask them if they shop in aldi or woolies while you're at it!
Federal politicians own three quarters of a billion dollars worth of property never mind the state politicians
We are slaves in this country
投资移民推高了当地的房价，我想这是其中一个因素我想可能是大量的，包括中国
I doubt true slaves or truly oppresses countries agree there
The Pharaohs of Egypt would be so proud of how Australia is now structured
I am an Aussie and I doubt anything is going to change in the next 2/3 years.
It won't change for the next 10 years.
I doubt it. People care more about this then any of the ideological driven policies offered to us by Labor. We are concerned about what is real and happening to us in the here and now. Climate change, race, leftism, rightism or whatever, nobody will care about any of that if they can't afford a home. Political parties will have to respond to this demand if they want the votes.
You mean 20/30 years right?
you ommitted a 0 and multiple by 2
When the majority of the population become renters, laws will change because there will be votes in it.
Our family is only one rent rise away from not having enough to pay rent.
We sit in the dark, electricity is increasingly out of reach and we often skip meals.
Ohhhhhh....
Are you living in a city?
I think move out, go to a small town, maybe you can buy a house there. . .it is better to have your own house than renting.
@@EagerElectricCar-de1ss yeah if you can find a job. All the work is in the cities unless you work in emergency services or something.
@@davidlp3019
I believe so, finding a job in a remote area can be difficult. . .
big cities, big opputunities as they say. . . But, I prefer to go out of the city as I can plant, care fo poultry/livestocks as long as I have my OWN house...
@@davidlp3019retrain in a needed skill area
Australia is basically Canada, same housing problem, but with hotter climate
All part of the globalist plan to hollow out the middle class and create a serf class
Hong Kong as well
@@Wilson12857 if you go back to Hongkong , it would be good for you and housing market.
@@Jfff-ugfgh I’m not from home Hong Kong, but thanks for
@@Cha4k do you really imagine to be able to keep 1,4 billion Indians and 1,3 billion Chinese out of Australia and keep Australia around 24 million ?
It is unsustainable
The housing crisis is due to greed all the way down the chain. My partner and i bought a home in 2017, 3 bed 1 bath on a 670sq block for $380k. If we were to rent this house out, rent would only be $450 which is our mortgage plus realty fees, lets say $550. The rent in my area is $750 per week. Home owners are just 100% greedy and taking advantage of people that need housing.
The cheapest place i could find .. my rent is more than half my income. I have to pay for everything else for me and my toddler with $150 a week: food, electricity, gas, water, nappies, medicine, clothes, petrol, phone, ambulance insurance. If the rent goes up when the lease renews, we'll be homeless
Welcome to the lucky country , they would gladly make you Chinese slaves ...😂
That's not an income, wow that is tough
I’m so sorry you are doing it so tough. I sincerely hope your circumstances improve 🙏🏻🙏🏻🙏🏻
@PeacefulTraveller888 thank you. I'm doing okay .. i just wish we had cheap housing, or sufficient public housing, for people like me.
@@SerendipityChild and we won't have any of them
So much land so much greed of realtors
So much land? Over half the the population lives in 3 cities?
So much land yet most it's uninhabitable. It's not the realtors' fault most of the people only want to live in the cities inevitably resulting in some getting priced out.
so suddenly realtors got greedy and it has nothing to do with massive immigration
Government own nearly all the available land and release very little of it for housing development. That is why realestate agents make lots of money off the high prices out there.
@@stephenw2992 There are reasons that land is not released. Only a small proportion of the continent is habitable at any density. We are in competition for that land with the other species here, and we have a terrible record of extinction.
Ban foreign ownership PERMANENTLY, there are plenty of countries that don't allow foreigns to own property, this isn't a radical move! Force all foreign owners to sell within 3-6 months or the government buys you out at 25% the market value, motivation to sell quickly.
Lol this is just not the angle mate. Rather this is the Aussie mum and dad with PPOR and 2 investment properties. This is the Aussie politicians with a portfolio of a dozen+ investment properties raking in the inflated capital gains and rental income. Australia has made investing in houses a national sport and the main stream media/those with vested interests are using foreigners and migrants as a scape goat for the issue that they have constructed.
The inability to reflect on the true reasons that are low interest rates on mortgages, low interest on savings, government encouragement, media generating a whole slew of property investment tv programmes and articles is why Aussies will continue to commit the same mistake again and again in the next few generations.
Do you thinks the normal people magically can buy that property? it will gobble up by local investor.
@@PatriusW So 1million plus immigrants comming onto the country in the last 2 years is not a major factor in housing costs?
@@PatriusWloads of people with PR status are acting as proxy’s for foreigners to evade FIRB approval, only full citizens should be able to buy property and dual citizenship needs to be disallowed
Lack of housing security causes single mothers and their child (or children) lifelong trauma. It's inexcusable and unforgivable. You're absolutely right, housing rights need to be in the legislation so various reigning governments can't change & revert everyone's efforts and housing security for all, increases over time instead of decreasing slowing over the years like rust!
Australia, USA, and Canada are continents in their own rights. It is mind boggling that they all run into housing crisis.
It has very little to do with land mass and has mostly to do with a broken monetary system (the Eurodollar).
Its because unlike small european countries where there is usually another town or village 5 mins away there are huge distances and wilderness between cities and towns. As you said these countries are massive - too massive to have urban areas everywhere. I live in Perth, Western Australia which is a capital city of 2.1 million people. Outside of that you have a literal handful of towns between 80,000 to 20,000 which have decent facilities and job potential. Everything else is a small town sub 10,000 (usually under 5 thousand) with very little facilities and bugger all jobs. And thats in a place that covers 1/3rd of the entire continent! So you can see how we can run into a housing crisis.
@@ahpong it is a result of unfettered immigration driven by powerful vested interest and in direct opposition to the will of the people.
No population on the planet should be growing if that growth is avoidable!
And growth driven by immigrarion IS avoidable!
Simple facts are that no or low educated real estate agents value properties for sale. Secondly the banks should have valued homes because most of Australian homes are cardboard boxes and not even worth half of what builders charge. Government should simply develop new suburbs and make the land affordable to buyers.
All right then prepare to be taxed 60%
You can't just develop new suburbs or we would have a billion people in Australia you need water you need sewerage you need facilities where is all this money coming from ?
Affordable LAND...what an inspired idea!!!! Genius
Sydney is so unaffordable right now. It is like a trap. It looks glossy and beautiful on the outside then once you live here you are stuck with such a high cost of living.
Banks, financial institutions and property developers control the Australian policy makers....our Australian Two Party Preferred Government is a business not an Australian Parliament per The (original) Australian Constitution.
Things will worsen for the majority of Australian Citizens and Residents as these moguls' greed is ALLOWED to run unashamedly rampant.
Yeah i think the problem is greedy landlords , good time to be invested in those sectors though hey youve missed out on making money me including my self made i made abit of money of it and im only a pensioner its called the stock market invest
You are absolutely right.
It’s government that created this problem and people think government is gonna solve it. Please. Central Banks across the world printed money like there’s no tomorrow during the pandemic and we’re still dealing with the consequences. And this housing shortage combined with skyrocketing housing is part of that consequence.
more taxes ®ulations the problem
They printed AND gave it to the rich who used it to buy our houses.
@@googleuser4207 that is so true. You don’t think the government is going to give that money to poor people do you? Either way the government should not be giving money to anyone. Money is to be earned.
220,000 Australians fled Australia last year in 2023 for better lands. I don't know why Australians are sitting in apathy and not boycotting the federation, state, and territory governments and forcing complete change. Australia needs to be a strong one party socialist democratic system and repair all the damage the federation governments have done. How much more human rights housing abuse and terrorism can Australians tolerate from the Australian governments.
Greed!
True human disaster. I wanted to move to Australia but housing is scary in Australia
Don't get into this trap. People are moving out of Australia for good because of these politicians and Govt.
If you have a basic education you will be fine. This is fear mongering. I'm a forklift driver and own my own home 35min drive from Melbourne cbd. People just don't want to work for it.
@@3800TURBOso everyone who complains about housing is unemployed?
@@3800TURBOThankyou. Yes finally someone said it.
@@Boababa-fn3mrno but they are wanting to live in areas like Sydney or have a huge house rather than buy modest or God forbid move into a working class suburb.
Doesnt help that Australian housing standards are so poor either. Compared to other western nations, its pretty embarassing.
why? do our homes fall down or are they small? is every one living in the home from home alone or something?
@@johney3734 have you lived in many rentals?
@@johney3734extremely poor insulation. Use more power to heat or cool the house which ppl end up paying more for their energy bills. So much hype but I think Australian Standards / Building code is pretty useless.
@@426dfv Yet if you actually tried to build something you would realise that regulations are adding heaps to the cost of every house built
@@stephenw2992 The cost seems artificially inflated too. Something as basic as double glazing for example would make a meaningful difference to anyones home, regardless of climate...but for some reason its treated as some obscure luxury in Australia.
By comparison, its been mandatory in europe for over 25 years and doesnt set you back extortionate amounts if you need it installed in older homes that might not have it.
Foreign students, high immigration, foreign ownership. We don’t have a country, we have a rampant foreign influx. The Labor Party used to be the party of care, but no more.
to be fair - the pollies on both side do care *_deeply_* ... about looking after themselves
well mostly its landlords but those are small factors as well
What do they do if they nuke the market who will vote for them, remember those that own properties vote too. They own the media too
Australia is becoming a disgrace. Our pathetic government does not want to or is incompetent to fix the real issues. Instead focuses on dumb questions on the census
Yeah I've often wondered why they won't shut up about census shows how disconnected they all are.
maybe if the people prioritize what is important they will live better. don't have to live on take away, every day go out, twice a year HAVE TO GO a holiday, need the newest smart phone even for the 12 years old etc. I arrived here in 1987 with my husband and one child. We lived in Adelaide for 13 years, I never worked because my health issues, my son went to private school we went one holiday for 6 weeks back to Europe and when we sold our first house we had a choice a buy a run down hobby farm in one of the most expensive tourist area in SA, and we paid it less then 6 years. Yes, we had only 5 or six max 3 days holidays and once in Tasie for 10 days. But now both of us living on age pension VERY COMFORTABLE, WE HAVE 2 CARS AND A VERY BEAUTIFUL HOME.
but our first priority was not only fun, go out, wear the most expensive clothes. and now if I want I can afford that kind of luxury.. I don't tell anybody have to live like this but if they first choice the fun and the expensive gadgets and cars, then don't have to winging all the time.
yes, and BTW both have the top private health insurance from the age pension.
All by intentional design and not just in Australia, either.
@@FritzA378 Uncontrolled immigration, world wide, to western countries , open borders, are destroying everything
Why are they not talking about mass immigration and foreign (CCP) buyers of residential property? Nearly all federal politicians are residential house investors, they don't care about the citizens only increasing their investment property values with mass immigration and opening the market to foreign buyers. The Foreign Investment Review Board regularly rubber stamps foreign investors purchasing existing housing stock.
Because 3 of the 4 people on the video are immigrants.
Kind of uncomfortable for them to admit that THEY are the problem.
Since 1980-STAMP DUTY INCREASES alone comprise 50% of house value over a lifetime. State Governments have escalated housing by taxing GST, FEES, LEVIES, CONTRIBUTIONS & CHARGES.
Exactly right and people who don't own a house never see that. They complain about rent but owning a house costs 3 times the amount. Investing is even worse now with all the new taxes. There will be less and less rentals available. That'll push rent prices even higher.
The state governments are addicted to stamp duty, and thus housing turnover.
We have a Prime Minister whose "log cabin" sob story is that he "grew up in public housing" subsidized by government ... the *_grief narrative_* of those who are the victims of his & his ilk's decades of *"governance-incompetence"* ... is that their children are now being forced to grow up - not in "social housing" which is now an unattainable luxury - but in decrepit private cars & tents in the bushes on the side of the road.
Exactly what a hypocrite
Yeah don’t blame the LNP at all, no bias but I’m sure the party of landlords have nothing to do with it
Nonsense, you can not have a human rights disaster in a country that does not have a Bill Of Human Rights. Step one is to give human rights to all Australian citizens.
A big country/continent with the population of 30mil is having a housing crisis???
Have you looked at the map? Three quarters is desert, dry arid land. Unliveable.
Yep. Local government (councils), forbid us to build, or to expand the land area of cities.
Then we have all this government red tape, because government bureaucrats think only Aussies know how to build housing.
Which is quite strange considering the "quality" of construction these days.
@@Elemenopi205 Lol, not true. There's rural towns way out in the outback but theirs not much an incentive to live out there when the jobs are in the cities.
@@kubabooba548 do you know that the rural towns are small and sparse. There are no housing there it’s mostly farming. I live in Australia. There’s shortage in rural housing too.
@@Elemenopi205um, the Middle East?
14 years ago me and my wife rent a decent room kitchen living room 1 bathroom flat for 270 AUD per week.. we saw the change after 3/4 years later the front Botany road started to traffic gem ( was unbelievable before one or two cars passed sometimes) our rent went up 400perweek ..!
as long as governments (not just australia, but the world over) continue to go into debt, society fails to support itself and forthcoming generations of borrowers and taxpayers become alienated from the cost of living. this trend got underway in the 60s and 70s and has never reversed course, the numbers have only gotten further apart.
Everybody's looking for the complicated solution it's just pure greed the corporations are squeezing so much money out of us so there's no left . On top of that you have landlords that keep putting up the price because the banks are being greedy .
Very well said!
Man, Australia used to be awesome 20 years ago I have so many fond memories of visiting Perth and Sydney as a kid. Sad to see it go to shit now. Not much better in Canada, liberals have ruined this beyond repair.
Perth is still dope. Just not possible for the overwhelming majority of people to own a home now unless you really want to hustle. I'm currently working between 6 and 7 days a week. Not easy. If interest rates don't fall within 2 years I may just give up and sell.
I live here and it's FUCKED. We are in A Great Depression. Not a recession, but A Great Depression. It just looks a bit different than it did back in 1929.
andddddd it will get WORSE, Only place that will survive is South East Asia not even Japan, India or China or US could face what is coming.
yes mate... capitalism has failed in oz.. im interested in other options
But the government didn’t tell ppl we are in a depression. Everything has become so expensive and it seems ppl can somehow afford the living expenses. I just don’t understand.
Australia is not in a GDP recession.
@@buildmotosykletist1987 yes it is
Stop bring people to Australia
Singapore has a 90% home ownership rate. We have less than 2% government housing.
Yes but most of it is 99 year leasehold and usually last around 50 years before the area is being redeveloped and you are made to move.
Singapore is too high of an expectation for Australia though lol They are so successful in so many aspects without any natural resources. Imagine Australia without all its natural resources, however lol
A low cost ownership of a flat is superior than a no cost tent next to a park bench.
@ryanh5242 don't look at the commodity markets. 😮
@@s._3560 gotta be better than children spending their whole childhood homeless
It's worldwide! All at the same time!
No, only countries with high immigration or open borders like the EU. Japan doesn't have immigration and doesn't have a housing crisis. It's simple maths.
@@Leo-vk6qm Japan won't have people in a hundred years at this rate. S.Korea even earlier.
Not in Cuba, Venezuela or North Korea.
@Leo-vk6qm Japan is very different from Australia in terms of housing issue. The country itself is aging. In Japan, there are many tourists and foreigners but very low birthrate and even with a low interest rate, people don't buy a house. Similar thing is happening in some Asian countries.
@@k10pq1 Yeah it's demographics are different, my point is that immigration means you immediately have more people to house, something Japan doesn't have.
Negative gearing????????? Hello is anyone there. Negative gearing is the one reason.
We had a great system in my day, where you could rent government housing and then when you had paid a certain amount in rent equal to a deposit, you could own the home and continue to pay it off at the government loan rate until the loan was paid out. People quickly owned a home and took pride in it, and that meant that suburbs arose with decent gardens and landscaping done by proud owners. Then the Real Estate vultures swooped in when properties were onsold by children who had got a kick start in life because their parents could afford to educate and feed them. We have paid more than the cost of the house we are renting, and now it is priced way beyond our reach, and we are soon to be kicked out - God knows where we will live. So, now we become burdens on the state, and it could have been so different. Crazy, because the state set up housing to be affordable then gave it away and made it lucrative to own homes and rent them out with a golden windfall Negative Gearing. It is a recipe for millennial poverty.
Houses are for living in not for investing in. fix that and you fix the system, but the banks, unions and boomers will dethrone any party who does it unless it’s done over a generation.
Mainland chinese buy in cash especially corrupt ccp officials. The same now happening in singapore and the locals are not happy
BS! If what you say is true Cuba would be like Sweeden! LOL!
@@gardencity3558
Yet Cuba = Haiti without the instability.
@@shauncameron8390 You use the countries with the poorest countries Western hemisphere to put forth the Cuban model as an effective housing solution in Australia?
Sweden is Cuba with Universities but without the beaches, and machetes
A house is a Human Right, not a commodity. It should never be looked at that way. Private housing by all means take the lions share, but not at the expense of everyone
Show us all the documents that back up your claims that a house is a human right.
Just saying something does not make it so.
Protection from the elements - shelter - is a basic human right. Unfortunately we can’t build houses ourselves as did the indigenous and post-war families. The availability of food is also a human right. What happens when the grocery shelves become empty? The population is left to starve? No, there’s mayhem. Because it effects the wealthy property investors as well as those who are struggling to afford shelter for their families. If you own a house for its intended purpose, the necessary rationalisation/reduction of housing prices will have little negative effect on the general population. It’s relative. The taxpayers/avoiders who own portfolios of properties using these for reasons other than their intended purposes as shelter might be impacted. The increased supply should largely soak up the current excess of renters. Why do you need more than one house? One rental property per household? Incentives for families who took out residential loans since 2019 when prices doubled? Housing is a basic human right in a developed country like Australia.
@petert3355 I wouldn't want to be the target of an angry desperate homeless mob. With attitudes like that, there will be blood in the streets
Like Cuba? LOL!
@@MsSeine So you want a Cuban style housing model?
Besides higher English requirements, Australia 🇦🇺 also needs to check for national security risks.
- Many Chinese students don't come to Australia to study,
but to grab Australian intellectual properties and
to *launder corrupt money by buying up big houses.*
Proof?
Politicians need to be banned from owning multiple investment properties - currently, most of them do. As long as they have a vested interest in keeping prices high and supply low, nothing will change. The whole system is broken and needs an overhaul.
The reason why Australia is lagging is because of our superannuation. Our super is whats stabilising our ASX and large construction projects in the country. Thats it. When 20-35% of the asx is our super and that moves based on the REQUIREMENTS of the government not where WE need to be thats the only reason why we've been able to stay afloat for so long. But unfortunately now the supercharged immigration has reached a point where its reduced the average living standard and in turn caused not only a shortage in RENTAL properties but a drop in MEDIAN wages. The rental prices is due to investstors not being able to afford their mortgages causing a rise (same rise to the rise in interest rates) in the cost to rent.
It takes time to correct 30yrs of conservative short sightedness.
40 years, I reckon. The rot began in the '80s.
Absolutely. I was buying a house back when it all started - with the Howard Government.
So mass immigration will fix it?
Crap , labor stuffing up the country
Australia had a right wing government for 10 years. They stopped building and maintaining public housing, and by the time we got a left wing government there were 300,000 fewer public housing dwellings than there were supposed to be relative to the population.
Source: I model housing for an insurance company, and I did a10 month research project into the prevalence and distribution of public housing (because these aren't eligible for private house insurance)
Bingo !
Policy during those years : The "market" will sort it out.The ideology of libcontards since day one.
If the market was an individual, it would, by current moral standards, be locked away in a mental asylum.
It's not public housing but we need it now. Mass immigration with record low housing supply
The socialists won Australia in the 70's and was solidified in the 80's. We have been living in the wake of those draconian policies and thinking to this day.
@@Sideshowbob4100 if you assume 3 people per dwelling, those 300,000 non-existent dwellings would house 1 in 30 people in Australia.
It was a decade of Liberals that gutted public housing. Rental affordability and entering the housing market have never been more difficult
@@SerendipityChild government policy should be creating an economy that lifts people out of public housing into the middle class. Not creating an economy where more government housing is needed. Government spending and government inflation of the money supply increases the cost of everything including housing. The RBA also kept interest rates low that created an artificial economy of cheap money. Increasing the population in the short term added increased competition for housing. The unaffordability crisis is caused by policy makers in the Australian government not understanding basic economics or how the money supply works.
Why is the EXACT SAME THING happening in Canada. Play for play. It's very weird.
@@makerKID5 not weird. Both governments are hell bent on mass immigration from the third world.
@@jimmyflawless 100 percent correct. But the far left lie is it’s a global problem so you can’t blame us. Many western governments are hell bent on self destruction so here we are.
Because it’s the WEF plan. We were told by Klaus Schwab that by 2030 ‘we would own nothing and be happy.’
@@jimmyflawlessYup, corporations bribing politicians to import cheap labour which undercuts wages and pushes house prices up. It's not rocket science.
NZ too
I have lived through several life threatening health issues and I keep asking God why am I still alive. Born in Glasgow 1954, arrived in Australia aged 9 and 48 years later returned to the UK. The only reason I can come up with is that God wanted me to see how corrupt the world is. Doesn't matter if it's London, New York or Sydney it's all the same. I was fortunate to dabble in property when Australia was still a decent place but I'm no business man so things didn't work out. Australia was a brilliant paradise but rotten politics ruined it. Like everywhere else if you have money it's much easier.
Why are they even advertising and taking 50 plus applications..they are prejudice. It's so unfair.
30 years ago I had a choice of 5 plus houses. They had homes sitting empty waiting for families. Not now,
Australia is so broken.
During Covid when all the international students went home we had excess rental properties. As soon as they were allowed back, I got evicted, to make room for them. I cannot afford to live in the city I WAS BORN IN. Fact.
It is not a global problem, it is mostly a problem in the Anglo-Saxon hemisphere.
In Europe, countries like Germany, Austria, Switzerland, Holland have very affordable housing. There is no negative gearing in these countries. The government holds a good chunk of public housing in these countries. Tenant rights are also very strong in these countries.
Housing is not primarily a speculative asset in these countries.
@@28FlyingDutchman I have lived in Germany for over 22 years and can tell you that is utter rubbish.
Germany is the biggest country in Europe and everytime NATO starts some war, Germany always gets the bulk of refugees.
Hundreds of thoysands of Syrian refugees arrived in 2015 and more than a million have arrived from Ukraine.
However, you must note that Germany has over 80million population and most of the polulation is concentrated in Berlin, Hamburg, Munich, Frankfurt, Koln and stuttgart.
There has been a moderate rise in real estate prices since 2018 when many foreign firms got into the german real estate markets buying up millions of home and trying to up the prices to international standards given the price difference to london, new york and other states. There has been major push back from local governments and the increase is nothing like you have in Australia.
I challenge you, go online and check the prices of houses and appartments in Berlin and compare with Sydney. It is no where close.
The main difference in Australia is the government allows for negative gearing. Ask the average Australian what negative gearing is and they have no clue. If you are wealthy in Australia or earn a very high salary, the government allows you to use real estate to offset some of your taxes legally. Only real estate. That explains why everyone tries to park money in real estate.
Now, i know you are watching a lot of youtubers, content creators from a particular segment making tons of noise about immigration in Germany.
Yes, the Ukraine war has brought in further migration but is nothing like you get on youtube.
This is just another rinse, repeat phenomenon. Everytime there is some economic crisis looming, same talking points and headlines. In Germany, with the government spending big on war, immigration and actions like nordstream destruction, it is clear these talking points will be headlines for a while.
Don"t get carried away by social media. This is all not new. Yes, certain political parties will gain in the short term while playing the immigration card but it won't last.
It's all justba Dejavu.
Many content creators making content whilst travelling the world as digital nomads from Thailand and the like trying to tell everyone how bad everything is without having any first hand experience, just amplyfing news they found on internet.
In 2 years time, the world would have moved on to other talking points.
You are right. See Sheila Newman, The Growth Lobby in Australia and its Absence in France, esp chapter 7.
I have relatives in Austria and their housing affordability and accessibility ensure no-one is homeless and nearly every citizen has a home they can call their own. Far superior to anything we have here.
I didn't think boomers would treat young Aussies this badly but i am sadly wrong 😢
Treated badly? How so? Please explain
People of past generations have fought these trends. You are buying the divide and conquer propaganda of the news media, which pretends that elderly people selfishly benefited from low-cost housing to the exclusion of young people. It is ridiculous. Australians have been keeping their family sizes small. They have not caused this problem. The endogenous rate of population growth is currently about 0.5% but the growth from immigration is 2%. (Huge!) It is the governments that have been growing the population through mass migration, without democratic consultation. How is this the fault of 'boomers'?
@@QueenieAlexander2000you’re right. Ain’t the boomers fault. A lack of education on the subject is the cause.
Boomers regard their children in the same light as wolves regard sheep.
The government doesnt care, they are all property investors who are mates with developers. I can't afford a home in my country, why do i even pay taxes...
97% of Australians reside in 3%
of the land, and there is a housing crisis. Whats wrong with this picture?
You’re casting pearls before swine broski. 🥲
You're free to live in desert wasteland if you want to.
If we had a decent legislation, builders wouldn't have to deal with a boom and bust cycle
Im sick of all this talk and research just bloody stop investment properties... problem solved
This has less to do (although not completely) with negative gearing, immigration and foreign investment (actually quite the opposite) as most commentators here are quick to point out, and more to do with systemic issues plaguing key public sector institutions which influence and control housing supply. Mainly these issues can be summarised as 1) poor policy settings at the federal level stemming from a lack of understanding of basic economics, exacerbated by political posturing, 2) Ineptness of those charged with planning authority at the local level (less so at the state level), in part due to the lack of incentives required to attract more appropriate/capable labour/skillsets within these organisations.
What must be addressed is a lack of supply. What we need is to encourage foreign investment, particularly institutional foreign investment (sadly local capital such as superfunds don't have the appetite and would rather invest abroad) to deliver medium and/or high density dwellings (where appropriate and in locations capable of being supported by existing/planned infrastructure and services). Otherwise, who is going to deliver the housing and who is going to pay for it?
There is a very high level of entitlement in Australia. This combined with a high level of migration, and a dumb mining economy, combine to produce silly outcomes. The welfare system is overly generous and acts as a drag on motivation and creativity. Young people have probably given up trying in this climate of out of control inflation and economic stupidity.. eg I paid 27 dollars for a burgerand chips 2 days ago, how absurd. Also the number of government employees and overpaid unionised workers helps crearate a two tiered system of haves and have nots. Also we manufacture very little here. I'll tell you how I really feel next time
Every Australian is beyond blessed. The world ain't all sunshine and apple pies in 2024. Don’t take my words see for yourself.
I love you my countryman. Stay blessed ❤🙏🇦🇺😊
@5:55 "Treat housing as a commodity like any other... investing in a mine". This betrays an underlying confusion of his own point. It would be great if housing was treated like a commodity. Investing in a business is NOT like investing in a commodity. There are many things that we treat like commodities (food, water, electricity, transportation, mobile phones) that are completely necessary, and if where limited, would be a catastrophe in the same way housing currently is. It's specifically BECAUSE we do NOT treat housing like a commodity that we are currently in this mess. We are treating housing like assets, which in turn, drive voting and local action behavior at the expense of those who are locked out of the "market". This is no market.
@@zynot91210 Housing is not a human right. Less NOT more government intervention is needed.
Nothing will be done.
100% The pollies, realtors, big banks, the whole system is corrupt..
I beg to differ. Things will be done to intentionally make it worse for anyone who doesn't own a house.
Pals.
The rich is getting richer. They have to invest their money somewhere. It's either stocks, gold, bonds or real estate.
The more the wealth inequalities will rise, the more the real estate will be bought by the rich and the regular dude will have none.
As simple as that. Deal with it, it only becomes worse from then on, and until we put up global tax systems.
Social housing alone solves nothing as it is funded with local taxes, which the rich don't pay much.
👏👏
Australia is only good for visiting as a tourist. I feel sorry for those people. They should learn from Singapore.
Singapore sucks 90% lease off the state ! Only 10% private home ownership
my son and his wife gross between them $200k yet thes srruggle to make ends meet. they live in rural costal NSW and pay $800 pw rent ( the cheapest they could find in the area , with very limited rental properties avaliable, it cost the $650 pw for their weekly shopping for them and their 2 children, not to mention utility bills, car loans, insurances, registrations, car maintainance, clothing, medical, schooling etc etc. The Australian government ( both Liberal & Labor ) - two wings of the same Vulture, are hell bent on destroying middle class Australia, and over running the country with migrants that have zero respect for our country or our Australian Values and way of life. This is a deliberate “ Cleansing” of Australians.
What an ignorant, selfish, and racist comment. Did you know that 40% of doctors and nurses in Aus are migrants? I'd like to see your opinions on healthcare quality, if your country wasn't being held together by a migrant workforce.
And unless you're aboriginal, your comment about the "cleansing of Australians" is nothing but extreme irony.
@@thethinkingman9338 sounds like they're blowing their savings on groceries.. 650 is closer to my monthly groceries. I have the same size family..
@@thethinkingman9338 $650 a week on food 😆 must be living like kings
our family is on200K and we can not get into the housing market.. a doctor family has to do gov schools now unless you got into the housing market 15 years ago
More like Libab being two cheeks of the same Rs with Brandt poking out in between, its the age of the wage slave like the peasants on the lords estates being worked to death for zero.
3:18 In which universe has the conversion of housing from a consumer commodity into an investment vehicle been “wildly successful” for the Australian economy? Speculation on housing has literally diverted billions upon billions of dollars away from investment in productive capital.
Australia neglected a fundamental housing policy as part of its responsibility for its population. Is it lack of sophisticated thinking or lack of compassion, or deliberately done for the politicians benefit as so many have their own large real estate portfolios. I have the feeling it’s all three.