Sorry, high inbound immigration is part of the cause, but so are the ultra low interest rates during Covid-19, tight landuse regulations and the inability to supply enough houses to match the demand.
Countries around the world with much lower immigration are dealing with the same issue. If we needed a million less houses then a million less would have been built and we'd be in the same situation. The western world all decided to leave housing "to the market" which means people who benefit from house prices going up are also in control of building them. Now that shock horror, houses are unaffordable, we point our fingers at ghosts instead of the 30 years of policy failure and collusion that created this. Obviously at this point we should reduce migration but its really not that simple
@@rogan6947 Australia is already at full capacity, building ~ 200,000 dwellings a year. Immigrants can't do that because they need training in the building codes etc.
@@rogan6947 import builders to build houses, but those builders can't build fast enough and bring their family, it's like pouring water into a sinkhole, it doesn't even fix it but rather makes things worse
The Albanese Labour government was encouraged to do it more and opened up the immigration flood gates without building the houses and infrastructure for the massive increase in population.The labour party was warned of the affordability/homeless effects and did it anyway.
Can confirm that I lost 7 auctions in a row while trying to get a family home to immigrants. It was soul destroying. How do I know they were immigrants? Well they didn’t look like me, talk like me and about 30 of them were planning to live in each home. The Australian dream is lost.
Negative gearing, abject failure of house building and affordable housing policy for decades by successive governments and tendency of people to live alone more than ever (rather than buy as a couple) are main factors. Immigration is still mainly temporary (ie those who study then return home eventually). Demonising migrants helps nobody- in the short term there needs to be incentivisation to fix up abandoned uninhabited homes, encourage use of spare rooms (tax incentives to take in lodgers) whilst Australians vote for a competent government with a long-term plan for housing. Great video
@@ferdomrkvicka1247 not true! Just because they "want" to stay, it doesn't mean they can. In fact, only 19% of them was able to make it through different PR streams.
You have hit the nail on the head. For those who disagree I would like to ask them who got their ultimate vote in 2019 (Scotty 'Aspirational Australians' or Bill 'Let's share limited resources').
Australia did have an affordability issue due to our politicians pumping borrowed money in the areas of the economy, which had the effect of underpinning capital growth in the real estate market
There's several factors that play into this supply / demand conundrum including but not limited to: Supply side: - cost of materials are too high - lack of existing construction labour, most returned to their country during COVID - Lands not zoned and released in a timely manner - Construction companies going bust - Shoddy existing construction, Asbestos, Sydney apartment debacle etc. - Air BNB type short businesses effectively removes properties from the long term rental market Demand: - Everyone wants to live in the same place (location, location, location) - Immigration as a whole increases demand long to medium term - Company investors has the pick of the litter given it's backing by investors - The super rich (foreign or otherwise) just steam roll everyone else while having the ability to keep their properties vacant like a holiday home Australia needs to address each point to some degree as there's no silver bullet to take care of everything. some (no so well thought out) examples are : - Free trade need to take place with countries with an abundance of building materials - Immigration will need to be restricted to construction workers in the short term(this is cherry picking issues to fix in the context of the housing crises - I understand that we need doctors and nurses as well, just chill). - Fast track trades type education / apprenticeship to incentivise the youths to take up work in the construction industry
Mate there’s literally two variables in the equation, number of homes and number of people. They both clearly and undeniably contribute to the problem. If you want prices to drop you need to shift one or both of those variables. Build more houses and/or restrict immigration. If you did both in extreme measures the prices would drop.
We have too many people and not enough houses, you can put all the inaccurate spin you want on it but we need to reduce the level of guest in our country so that out citizens have homes.
We are sick of it, and will start acting on it, Greedy politicians and property developers cashing in on selling us OUT, why build hpuses for people whoarent supposed to be here, TSH, SAP, TMR take action now,
Don't blame immigrants as individuals but also don't be stupid and think a population boom during a housing supply and affordability crisis doesn't have an impact. There are many powerful interests invested in keeping the housing bubble Ponzi going. Rapid population growth is one of the things that prevents its collapse.
Stop Blaming Immigrants? Whatabout stop Revering Immigrants over Australians. This is Big Australia Labor/Teal party propaganda. (Immigrants vote Labor/Teal = Labor/Teal want Immigrants.)
Sorry this is a one sided argument. Immigration doesn’t drive up house prices. But immigration does cause wage suppression. You gotta realise PR and skilled migrants I.e people who actually come here to work and contribute to a shortage are very very low. The rest are just students who clog the system and don’t end up working in the field they studied in. This is why there’s a large number of immigrants working low skilled no skilled jobs who cause wage suppression. Now we have builders and CFMEU also playing Union games and not allowing builders from the UK to migrate and cause wage inflation in construction industries. But let’s not mention that.
@ only if there a undersupply for housing. If there’s supply why would it go up? Your biscuits don’t go up 60% and just stay there for decades. They might go up 15% during high demand times like Christmas but the factory learns to produce more and meet demand. In housings case there’s already enough houses. It’s just that people hoard more and construction industries like is that way so they can be less productive. Problem also is CMFEU thugs who block skilled migrates who are builders even from countries with similar or better construction quality. Because they want to keep stupidly high thug wages and produce the poorest quality construction. If houses are cheaper to build you’d have more infield developments. Lastly changes in tax I.e taxing boomers and unproductive population correctly will yield to better housing options. There’s already enough housing, Go look at bedroom vacancy rates. House with 2 old people has 7 bedrooms they bought for peanuts. It’s fine if 1 or 2 people from that generation live like that problem is most of them do and hold multiple houses. Causing artificial demand
Nice work. To increase viewership suggest changing the title to something like "Post-Covid immigration and the Australian housing crisis" and you'll attract many from the fact-blind and prejudiced population.
Mate there’s literally two variables in the equation, number of homes and number of people. They both clearly and undeniably contribute to the problem. If you want prices to drop you need to shift one or both of those variables. Build more houses and/or restrict immigration. If you did both in extreme measures the prices would drop. If you only do one and the other goes the other direction, you won’t make a dent.
Sorry, high inbound immigration is part of the cause, but so are the ultra low interest rates during Covid-19, tight landuse regulations and the inability to supply enough houses to match the demand.
Ye ik
It's mainly caused by the older generations and overseas investors. Lots of houses are empty by investors.
Agreed
Countries around the world with much lower immigration are dealing with the same issue. If we needed a million less houses then a million less would have been built and we'd be in the same situation. The western world all decided to leave housing "to the market" which means people who benefit from house prices going up are also in control of building them. Now that shock horror, houses are unaffordable, we point our fingers at ghosts instead of the 30 years of policy failure and collusion that created this. Obviously at this point we should reduce migration but its really not that simple
Part of the cause and easiest lever to pull right now. We need to ease rules and regulations to make small and cheap.
This just seems like Big Australia/major party propaganda
Immigration might not be the only factor but it is definitely a big factor.
How does Immigration not increase demand? How?
More people more demand
If it was left to organic population growth we'd have to pull houses down.
Exactly. It's not anti immigrant per se, it's anti immigration policy which resulted in an influx that supply cannot keep up with.
You need to build more houses. Australians don't want to build them so you need immigrants to do it.
@@rogan6947Australia has a shrinking population without immigration.
@@rogan6947 Australia is already at full capacity, building ~ 200,000 dwellings a year. Immigrants can't do that because they need training in the building codes etc.
@@rogan6947 import builders to build houses, but those builders can't build fast enough and bring their family, it's like pouring water into a sinkhole, it doesn't even fix it but rather makes things worse
The Albanese Labour government was encouraged to do it more and opened up the immigration flood gates without building the houses and infrastructure for the massive increase in population.The labour party was warned of the affordability/homeless effects and did it anyway.
yeah because the politicians dont actually care about australian citizens. they only care about being re-elected.
Can confirm that I lost 7 auctions in a row while trying to get a family home to immigrants. It was soul destroying. How do I know they were immigrants? Well they didn’t look like me, talk like me and about 30 of them were planning to live in each home. The Australian dream is lost.
Negative gearing, abject failure of house building and affordable housing policy for decades by successive governments and tendency of people to live alone more than ever (rather than buy as a couple) are main factors. Immigration is still mainly temporary (ie those who study then return home eventually). Demonising migrants helps nobody- in the short term there needs to be incentivisation to fix up abandoned uninhabited homes, encourage use of spare rooms (tax incentives to take in lodgers) whilst Australians vote for a competent government with a long-term plan for housing. Great video
Doesn't matter if immigration is temporary when they're just replaced by new ones.
@@ferdomrkvicka1247 not true! Just because they "want" to stay, it doesn't mean they can. In fact, only 19% of them was able to make it through different PR streams.
You have hit the nail on the head. For those who disagree I would like to ask them who got their ultimate vote in 2019 (Scotty 'Aspirational Australians' or Bill 'Let's share limited resources').
Australia did have an affordability issue due to our politicians pumping borrowed money in the areas of the economy, which had the effect of underpinning capital growth in the real estate market
So it was indeed deliberate. Across the world, governments stopped building/ made building houses harder even though population is expected to grow.
Called Thatcherism and Reaganism all about free market will after it. Funny free market doesn't care
There's several factors that play into this supply / demand conundrum including but not limited to:
Supply side:
- cost of materials are too high
- lack of existing construction labour, most returned to their country during COVID
- Lands not zoned and released in a timely manner
- Construction companies going bust
- Shoddy existing construction, Asbestos, Sydney apartment debacle etc.
- Air BNB type short businesses effectively removes properties from the long term rental market
Demand:
- Everyone wants to live in the same place (location, location, location)
- Immigration as a whole increases demand long to medium term
- Company investors has the pick of the litter given it's backing by investors
- The super rich (foreign or otherwise) just steam roll everyone else while having the ability to keep their properties vacant like a holiday home
Australia needs to address each point to some degree as there's no silver bullet to take care of everything.
some (no so well thought out) examples are :
- Free trade need to take place with countries with an abundance of building materials
- Immigration will need to be restricted to construction workers in the short term(this is cherry picking issues to fix in the context of the housing crises - I understand that we need doctors and nurses as well, just chill).
- Fast track trades type education / apprenticeship to incentivise the youths to take up work in the construction industry
Mate there’s literally two variables in the equation, number of homes and number of people.
They both clearly and undeniably contribute to the problem. If you want prices to drop you need to shift one or both of those variables.
Build more houses and/or restrict immigration. If you did both in extreme measures the prices would drop.
THE BEST INFORMATION THANK YOU
We have too many people and not enough houses, you can put all the inaccurate spin you want on it but we need to reduce the level of guest in our country so that out citizens have homes.
We are sick of it, and will start acting on it, Greedy politicians and property developers cashing in on selling us OUT, why build hpuses for people whoarent supposed to be here, TSH, SAP, TMR take action now,
Don't blame immigrants as individuals but also don't be stupid and think a population boom during a housing supply and affordability crisis doesn't have an impact. There are many powerful interests invested in keeping the housing bubble Ponzi going. Rapid population growth is one of the things that prevents its collapse.
Stop Blaming Immigrants? Whatabout stop Revering Immigrants over Australians.
This is Big Australia Labor/Teal party propaganda. (Immigrants vote Labor/Teal = Labor/Teal want Immigrants.)
Sorry this is a one sided argument.
Immigration doesn’t drive up house prices.
But immigration does cause wage suppression. You gotta realise PR and skilled migrants I.e people who actually come here to work and contribute to a shortage are very very low. The rest are just students who clog the system and don’t end up working in the field they studied in. This is why there’s a large number of immigrants working low skilled no skilled jobs who cause wage suppression.
Now we have builders and CFMEU also playing Union games and not allowing builders from the UK to migrate and cause wage inflation in construction industries. But let’s not mention that.
so if the demand for accomodation goes up the price doesnt go up?
@ only if there a undersupply for housing. If there’s supply why would it go up?
Your biscuits don’t go up 60% and just stay there for decades. They might go up 15% during high demand times like Christmas but the factory learns to produce more and meet demand.
In housings case there’s already enough houses. It’s just that people hoard more and construction industries like is that way so they can be less productive.
Problem also is CMFEU thugs who block skilled migrates who are builders even from countries with similar or better construction quality. Because they want to keep stupidly high thug wages and produce the poorest quality construction.
If houses are cheaper to build you’d have more infield developments.
Lastly changes in tax I.e taxing boomers and unproductive population correctly will yield to better housing options. There’s already enough housing, Go look at bedroom vacancy rates. House with 2 old people has 7 bedrooms they bought for peanuts. It’s fine if 1 or 2 people from that generation live like that problem is most of them do and hold multiple houses. Causing artificial demand
Nice work. To increase viewership suggest changing the title to something like "Post-Covid immigration and the Australian housing crisis" and you'll attract many from the fact-blind and prejudiced population.
What’s your grift ?
Mate there’s literally two variables in the equation, number of homes and number of people.
They both clearly and undeniably contribute to the problem. If you want prices to drop you need to shift one or both of those variables.
Build more houses and/or restrict immigration. If you did both in extreme measures the prices would drop. If you only do one and the other goes the other direction, you won’t make a dent.