WTF this has to do with the government? I thought as a right winger you would want government to be out of these private businesses? this is pure evils of capitalism.
Any country that bases its wealth on residential property prices is doomed to failure. A countries true wealth is measured by productivity and we are failing dramatically by this metric. The writing is on the wall.
30 years ago no one bought houses as investment, house price was stable with incomes rising, then banks were deregulated to loan out whatever they felt like- oh no property bubble. Negative gearis needs to be for owner occupier as well - like it is in us
I agree with you there, my friend at school her family lived I one and rented the other 5 out- for cash flow - but not to hold and wait for price to double. Right now we are seeing asset inflation- it's not investing in value add its not helping the economy , it not helping people its hurting the rest of the population. Are you saying it's good for the economy if so how???????
Canadas and Austraila are having very similar issues. Food banks put out a report saying they were on the brink of collapse. Food bank reports really highlight the poverty index in a country. Also the rents have surpassed a certain bracket of citizens capablity to afford them now. Which is basicly throwing them to the wolves and going to force vunerable people into alot of co dependant unhealthy situationships. As I am sure people are aware the rise in youth crime, domestic violence, trafficking all coorelates to these cost of living issues. Please be kind in these times.
those who have no money for food should fly out to Rwanda, freening the limited lifespace and resources for productive workers. This is CA PI TA LISM, those who do not have $300/month are useless trash and lose the permanent race, not just "struggling vulnerables" but social burden.
‘but these times’ are to get a whole lot worse and permanent Just look at Europe and their sorry mess. Mass migration and all the other squandering of our money does not end well
Exactly. We never needed the new airport. The land for the new airport was owned by Aussies and W@g families. But that’s all gone now. We can’t have anything like that. Just high rise Meriton’s, uber drivers/ eats and Chindians & muslims EVERYWHERE. This is an abuse of Australia.
@@gore1089 both parties are to blame. While the LNP was screaming about the boat smugglers, they were setting up dodgy visa, with private overseas visa agents to bring in cheap Asian labour though the airports. The problem of unaffordable housing goes back a long time! They also destroyed the award, creating casual work instead of full time, destroying the middle class and the ability of many to apply for a mortgage. I know because I was a victim of it. People wonder why the birth rate is low! Add Howard’s negative gearing to rub more salt into wound. F$&@“$! Sadists!
@@ulagatin WTF this has to do with the government? I thought as a right winger you would want government to be out of these private businesses? this is pure evils of capitalism.
Ohhhhh, lets complain online, pretty sure the politicians that have 7+ houses are reading the comments. We need to list everyone against abolishing tax concessions and negative gearing, we need to show that no one is happy.
He will do nothing about it and only make it worse till it breaks, so will the liberal party and no one will vote in a smaller party so we can't even vote out of this situation. That is because the housing market is worth more than 3 times the ASX, that is more than 3 times every company is making and is worth in Australia. If the housing prices drop to become affordable Australia's economy will probably collapse and Australia's ranking in wealth will completely plummet in global ranking. I don't believe labour or liberal will even dare to do that. If anything, they will drop house prices by few percent and say "look now its affordable, we did a great job" and no it won't be affordable, it will have 0 impact on affordability because housing will need to drop by over 50% to become affordable and even then it will still be to expensive for low income earners.
WTF this has to do with the government? I thought as a right winger you would want government to be out of these private businesses? this is pure evils of capitalism.
Albo should have had a million homes ready to build and have them started the minute they got in. This is all Labor's fault. They would almost be finished now.
@@gore1089 Wait, I thought this was satire at first. You believe 1 million homes could just be built in a couple of years, with the building supplies shortage and worker shortage? And right after the previous govt sat on their hands? And if it was pulled off, it would've doubled the construction building record. You must believe in genies too.
WTF this has to do with the government? I thought as a right winger you would want government to be out of these private businesses? this is pure evils of capitalism.
@@wonderwalls3565 it's got everything to to do with the labor government. The worst government in Australia's history, hard to believe but this little tnuc has surpassed rudd/gillard
@@DOWNUNDER. you did not answer. how is it governments job to build houses in a capitalist country? Also how long ago this guy you talk about came in power? who was in power before him for 8 years?
@@wonderwalls3565 Listen comrade it doesn't matter how much you carry on like a Karen. You ain't gonna change any body's mind, Alblo and labor are the worst in Australian history, even as I write this he is selling out Australia to china labor has brought in 2 million immigrants creating a housing crisis,
@@wonderwalls3565 here's is a idea , pretend that you don't know that labor has trashed the economy, ripped the guts out of manufacturing. Delivered a effective pay decrease by 8,000/annum via artificially induced inflation. Brought in 2 million broke immigrants While leftist councils making it near impossible to build houses with ridiculous regulations . And ignoring all that carry on like a 2 bob watch about its not the government's responsibility ..
@@antontsauand how was society before that time? There wasn’t one. The inhabitants couldn’t even invent the wheel. A backward stone age culture that was brought into civilisation by European settlement.
The only way to fix this crisis quickly is to tackle the demand side.. nobody in government or any media corps care to mention this because I suspect they secretly don't want to solve the crisis. If you want to profit, create a crisis and sell a solution as they say. Media corps love talking about the ongoing crisis and probably won't want to promote anything that might actually fix it.
@@sl2462 WTF this has to do with the government? I thought as a right winger you would want government to be out of these private businesses? this is pure evils of capitalism.
I have friends who work in Nursing and Welfare and they are saying peoples MENTAL and Physical Health is going down hill. Homelessness a huge cause. Its Freezing and people are getting Sick or DIEING. This should NOT be Happening in Australia in 2024.
in 1980 the average home in Sydney was 5.5 times the median adult wage, in 2024 it's 15.4 times. One needs to be on an income of 250k to be on purchasing parity to 1980, which is in top 10% of income earners. There is no doubt that increase in demand is due to immigration and lack of release of land to build new dwellings . Around this time 1990s onwards, there was a concerted push to build more high rise apartments as opposed to the release new estates to minimise the pressure of urban sprawl and infrastructure . Add to this the changes in the way inflation was calculated, you will see that wages have basically been subdued over time leading to unaffordability. All things being equal, based in the median income in Sydney of 90k in 2024, Sydney house prices would need to be around 511k to be on purchasing parity to 1980. There's no doubt boomers had it easier than todays young, not to mention they were not saddled with huge tertiary HELP fees at the start of their working careers.
Your 100% right- but no politician wants to do anything about it, let alone have open discussion, they are in charge of award wages but yet nope they can't fix it
Need to scrap negative gearing for existing properties and only keep for new builds. Otherwise more and more homes will be owned by property investors instead of first home buyers.
Negative gearing just means the renter is paying a bargain rent. The rent is less than the actual cost of the property. Your envy is preventing you from seeing the truth.
@@twisterli9177 the reality is that unless you’ve got an inheritance coming if you’re a young Australian you have no chance. If you call that envy then so be it. Let’s see what happens when the proportion of envious people hit a critical mass, a breaking point is on the horizon and people are angry.
@@jimmyinjapan6797 is that a threat? Yes, you owning a fully detached house in the best parts of Sydney will need muti generational help. Just like every other international city. That's just reality with an amazing city. Do you want Sydney to be a backward city, no variety of food, no harbour, no opera house, no people, no jobs? And then to threaten others because your parents didn't plan for you... that's exactly what envy (and evil) looks like.
@@twisterli9177 its a threat of political change, that’s for sure. Angry people vote. Don’t expect people to vote conservatively if they have nothing to conserve. What a disgusting person you are for calling it evil to believe that someone decent and hardworking like a teacher or nurse deserves to live near the place they work. Take a long and hard look at yourself.
Sydney and Australia for that matter is at the a#$ end of the world. I know it hurts you for me to say this but Sydney should never be included in that list of cities.
@carlbryson924 it doesn't hurt me at all. As they said 'over and over and over' supply and demand is driving Sydney prices so someone disagrees with you thinking Sydney and Australia is the ### end of the world 😅😂😅
@@tilapiadave3234 I live in Tokyo, you 🤡 ! Lol…. I have several apartments in the inner city of Sydney that I rent out. Elizabeth Bay, Potts Point, Darlinghurst. I also know an international city when I see one and Sydney ain’t it.
I make $82,000 a year. How am I meant to retain my job in sydney and along with my new wife, start/raise a family of hopefully 2 kids? I may as well walk off a cliff and leave behind my life insurance payout.
People here have been living beyond their means for years now, it’s finally catching up.Financial advisors who encouraged people to borrow like crazy whilst money was cheap to borrow are also partially responsible. Time to face reality and quit the habit of spending money that one doesn’t have! Gonna take some doing though. Interesting times ahead.
So true.....tax accountants first response to a customer querying how to reduce tax is to "buy an investment property" , now everyone has an investment prop.....Remember what Warren Buffet says...."Be fearful when everyone is greedy"
In the eyes of Australians and the Australian Dream...Apartments and units aren't part of the vision. Australian culture is brainwashed to believe that a detached house is the gold standard and living in a unit/apartment means your trash.
@@tilapiadave3234 Or how about teaching kids some independence and to walk to the local shops and parks on their own...or to take public transport on their own like in Europe and Asia. If kids are on their screens...that's not a kid problem...that's a parental problem. Its easier if they live near shops and public transport...which is usually where units are. In the future sadly but it'll be reality whether you like it or not...the Australian dream or a detached home with a backyard is going to die in the cities and move to the outer suburbs or regional NSW where they honestly belong.
@@kennylee8936 My kids grew up with a backyard ,, yes I PAID for it ,,, my kids road push bikes around EVERY afternoon. My kids both played sport ,,, I insisted on them playing sport but choice of sport was up to them. My kids had a limit of one hour screen time on week days 2 hours on weekends ,,,, Shops , 3 sets of shops within 2 km of my house ....
@@kennylee8936 Brainwashed according to those who don't make enough to buy a toolshed let alone their own home and their world view barely extends past city limits.
Unless the RBA raises interest to 15%, the average income earners don't have any hope of buying a decent sized house anywhere in Australia. And sadly, this is not happening because central bankers control asset prices by keeping a lid on interest rates for too long, to the detriment of the middle class. As a result, the poor gets poorer, and the rich gets richer.
As a property investor, I pass most of Federal, State and Council taxes & rates to the tenant. If they don't like it, they can fark off. Just do the maths on a $2M house at 6.5% interest rates, council rates, land tax, building insurance, water rates, repairs and maintenance. It's about $150K pa cost or opportunity cost. The tenant only pays about $50K to $65K pa to live there. If tenants want lower rent, just get the Government and Councils to stop the taxes and rates.
That's one of the problems 20 years ago the majority of people who were renting their houses out didn't have mortgage on them they owned them. So they didn't raise rents when int rates went up.
With no extra property purchases, my Land taxes have quadrupled in the last dozen years. Council rates have doubled in the last 5 years. These greedy b@stard governments are partially responsible for this cost of living crisis in my opinion.
@@RebeccaRussell-cc3pfI own several properties outright and it’s my Property managers who set the rent. The agencies do it for us. Once a year, there’s a “rent review” and they’ll pass it on whether to leave it or raise it. As I wrote above, due to idiot governments, rates and other miscellaneous govt taxes/fees have gone through the roof which has been exacerbated the situation.
Merri-bek local people must have many rental properties with them.... Council doubles the rate and what do they think is gonna happen? Simply the rent for the new settlers there is going to go skyhigh and these local will make millions.
Nope. They work as baristas and uber drivers, and of course want house (not unit) in inner Sydney. No one knows how to build houses in air, and all land there is already occupied, and baristas know nothing about nasty dirty construction work.
@@joelc9439 Home owners bring stability to the community. Rentals are everything wrong for housing. Most people want a home base and the Gov should encourage this by making housing affordable by doing whatever in hell it takes for the sake of good order and discipline.
@@joelc9439 Nothing wrong. It just means someone has enough money to keep house empty, and someone is less useful than fresh immigrant from 3rd world (who immediately finds accomodation and job!), with all citizens rights, language, networking and so on he cant gain enough even for basic needs.
3:17 this. Don't live there then...plenty of other places in Australia to live that aren't Sydney. Get skills, go overseas or do FIFO, earn money, be smart, invest wisely and do it that way.
You can run away from a tidal wave, but when you turn back around, it's still going to be a tidal wave. You could leave for ten or twenty years to make money overseas, come back and you still need millions.
Put the % of people out there who voted Labor. Well if you are one of these how do you feel that you have got all of Australia in one big Mess and crab Hope you all sleep well at night😮😴😠
I tells the design is depending on you inheriting and selling property. They hate that the previous gen got property and to deplete it they make it impossible to get additional property focus on enforcing passover.
WTF this has to do with the government? I thought as a right winger you would want government to be out of these private businesses? this is pure evils of capitalism.
@@wonderwalls3565 Better than the pure evils of socialism where you wouldn't be allowed to live in the city coming from a rural area, treated like an illegal immigrant in your own country like in China and Cuba.
"Just imagine what people are thinking" torches, pitchforks, gallows, inquisitions. "... but that would make things worse" Sir, these people didnt come here to be reasoned with
ok, say you have 100k deposit and take out a 300k loan, you will need at least a 90k income to buy something for $400k. Can I move to Brisbane and get a 90k+ job?
@@Birch37 I don't think you understand my point, my point is that is what I can afford. I can't afford anything beyond 350k. I work in finance. The only way I can make more money is to become manager, so say I do, what about everyone else who is not a manager?? can they afford more, the answer is no. Sure you can buy combine incomes with others to buy the property with you. But what if that is not an option for you? Then you are screwed and moving towards poverty as rent prices keep going up.
If half of population excluded from competition Because They Already Have Won and now NIMBY, the rest get very tight fight, and no one parttime barista have any chances. 180K not for individual but for household, which is reasonable for Sydney.
We are being nostalgic. Sydney is an international city with international prices and people. No one expects to buy a house in Manhattan or London. It's time to accept reality.
@@twisterli9177 just curious why you’re pushing the real estate Ponzi scheme. For the record yeah, I have several apartments in inner city Sydney. Do I like seeing young people locked out of the market. No. Do I think my 2 bdrm apartment is really worth nearly $A2 million after buying it for $210,000 in the mid 90’s? Hell no. Sydney is out of control.
I’m actually surprised 😮. And here we are having a lot of Kiwis moving up to Australia for “better” living yet it costs a lot to buy a 🏠 and it’s even harder for ‘white collar’ workers? Damn! I guess we are all struggling anywhere & everywhere nowadays.
@@joelc9439 I know their land is definitely bigger than New Zealand. Yet whats your point? Sorry I’m sometimes blonde or dhurr that I sometimes need further clarification?
Kiwis are doing ok if you haven’t realized, at least our house price has dropped to sensible levels, and will stay there for quite some time down the road. Aussie’s is about to find themselves between a rock and a hard place when RBA raising interest rates again.
so aren’t you lucky The rest of us hard working tax paying citizens are supplementing your living. I am still working as a nurse in a hospital and I’am working to pay towards all those who haven’t planned well in their life no one should be getting a free ride and living out of other peoples pockets!
@Jacqui-ie9kw OK I give you a rundown what I get per fortnight $762.70 housing rent $187 per fortnight, energy supplement $8.80,child support $18.90 per fortnight, which leaves me with $565 now split that in half that leaves me $232.50 per week running cost of car $100 for per fortnight for petrol, rego $187 for 3months no concession ,maintenance tyres etc and the car is 30yrs old. So you didn't mind Airbus albo spending $450 million on a vote went no,or pledging $600 million on a fucking football team in Papua new Guinea so you think that's money well spent?
Keep feminising the workforce! It has happened for years. Before I get attacked by all and sundry.......this was an attempt by the ALP to never lose office! The cost of everything is based upon a two income (good package) family!!!!
Why I got out of your appallingly governed, blissfully ignorant economic train wreck. From a nice place to a residential real estate economic basket case in 10-15 hrs.
Is all good our politicians have multiple million dollar property portfolios. Our primeminister has a 9 million dollar property portfolio .going to a good profitable plan.
It appears that there may be a lack of awareness among Australians regarding the factors contributing to their constrained disposable income, which in turn impacts their ability to support businesses in need of customers and consequently limits the ability to offer competitive wages, as was observed in the prosperous decades of the 1950s through the 1980s. This situation is often attributed to the significant overhead costs associated with governmental operations, colloquially referred to as the "Deep State," which reportedly accounts for a sizable portion of the national Gross Domestic Product (GDP). Several economic pressures exacerbate this issue, including a substantial new house tax rate of 45%, elevated fuel prices, and the unyielding nature of expenses such as rent, mortgage payments, and food costs. These economic dynamics are further compounded by a governmental dependency on the revenue generated from these sources to sustain the existing administrative framework, characterized by its top-heavy structure. It's worth noting that this phenomenon extends beyond Australia, manifesting as a global trend with far-reaching implications. In 1887 Alexander Tyler, a Scottish history professor at the University of Edinburgh, had this to say about the fall of the Athenian Republic some 2,000 years prior: "A democracy is always temporary in nature; it simply cannot exist as a permanent form of government". A democracy will continue to exist up until the time that voters discover that they can vote themselves generous gifts from the public treasury. From that moment on, the majority always votes for the candidates who promise the most benefits from the public treasury, with the result that every democracy will finally collapse over loose fiscal policy, (which is always followed by a dictatorship). "The average age of the world's greatest civilizations from the beginning of history has been about 300 years. During those 300 years, these nations always progressed through the following sequence:” From bondage to spiritual faith; From spiritual faith to great courage; From courage to liberty; From liberty to abundance; From abundance to complacency; From complacency to apathy; From apathy to dependence on the state; - Here we are folks! From dependence back into bondage;
Get use to living in apartments....make apartments more suited for families. The detached home on a quarter acre block Australian Dream is dead in the cities. If you want that...move to regional NSW.
@@joelc9439 If she's working then 60% of her money is going to childcare so she can go to work to earn money for ... childcare? To be able to ... wait. You know what they say. Your money is her money. And her money is her money.
The increase of house prices will make the rental market even higher since people can’t afford even to pay for the down payment. Australia will become like Japan, South Korea, Singapore but the only difference is their government are smarter and they started earlier by blocking all the foreigners to buy property with high duy and taxes. Some country even totally blocked PR to buy a house and only citizen are allow to buy house and make it difficult to buy investment house. The Australia government mistakes are allowing the state government went bankrupt with out of control project that cost us losing billions and not controlling the inflation and interest rate within a space of 2 years. They also suddenly increase all the property taxes and created this bubble effect for the investor to increase rent or to force them to sell high.
@@joelc9439 we are talking about different things. Yes they might work more and probably more productive while Australian will suffer in the near future because their jobs will or already move to overseas. It’s already happening with Accountant, bookkeeper, call centre, IT, finance, developers, warehouse automation, etc. Time to relax mate
STOP IMPORTING PEOPLE!!! I own my own home and a 20-acre farm, and I fought the Municipality on the Property Tax Issue and WON!!! Because of this, I pay nothing for my housing. It's an old house, but I'm happy here. I also live Off Grid and so have no utility bills either, other than my Internet. My heart goes out for all those starting out, though. I encourage all the folks out there to fight the municipalities on the property tax issue. They are all private corporations and therefore have NO RIGHT to issue INVOICES AND DEMAND PAYMENT WITHOUT CONSENT!!! High Court of Australia Precedent Queensland Rail v Union, 2015. I haven't paid "Property Taxes" (so called) since 2016 and I'm still here, there's not a damned thing they can do about it! This is not legal advice, just education and an anecdote of my personal experience. I pray that God blesses you all with a knowledge of the Truth!
Sydney not number 2 not even close Singapore is " then Bejing " then Vienna " " then Zurich" then Copanhagan " then Berlin i also forgot Olso in Norway .. Home ownership below 50% in these countries studio million dollars ! Sydney it $600000 in bondi not so bad ! Do you see a paten here more socialist country more expensive to live
I live in central Qld and paid $530k in 2018 for my house. It’s now valued at $750kplus which means absolutely nothing to me because the cost of replacing my house is to no advantage. I feel for the younger people who most probably will never afford to own their own house. Disgusting. Thanks boomers😒
Maybe tell the young people to stop wasting money on useless garbage!! Most boomers at least know what hardship is and they were careful with their money..
Wake up Aussies, it's about time you stood up for yourselves and sorted out your politicians. A good kick in is absolutely needed.
well go on.... we're waiting... what are you doing?
WTF this has to do with the government? I thought as a right winger you would want government to be out of these private businesses? this is pure evils of capitalism.
@@wonderwalls3565sad truth is a lot people like to know about their support for things i.e. the governemnt i know coz i did it myself
Australia is not the place to be anymore. It's gone down hill and straight to hell
Still much better than many other countries out there so yes it is the place to be....
Any country that bases its wealth on residential property prices is doomed to failure. A countries true wealth is measured by productivity and we are failing dramatically by this metric. The writing is on the wall.
Australians are champions at “she’ll be right mate” dismal ignorance as they whistle past their own economic graveyard.
Australia's becoming a joke
Mate, it's not becoming it already is.
Still better compared to many other countries..
Councils have too much power nowadays
30 years ago no one bought houses as investment, house price was stable with incomes rising, then banks were deregulated to loan out whatever they felt like- oh no property bubble. Negative gearis needs to be for owner occupier as well - like it is in us
In the 70's I worked with a lot of Italians who build blocks of flats as investments.
I agree with you there, my friend at school her family lived I one and rented the other 5 out- for cash flow - but not to hold and wait for price to double. Right now we are seeing asset inflation- it's not investing in value add its not helping the economy , it not helping people its hurting the rest of the population. Are you saying it's good for the economy if so how???????
@@RebeccaRussell-cc3pf People investing in properties is providing homes, bringing in more people that we can house is where the problem lies.
Canadas and Austraila are having very similar issues. Food banks put out a report saying they were on the brink of collapse. Food bank reports really highlight the poverty index in a country.
Also the rents have surpassed a certain bracket of citizens capablity to afford them now. Which is basicly throwing them to the wolves and going to force vunerable people into alot of co dependant unhealthy situationships. As I am sure people are aware the rise in youth crime, domestic violence, trafficking all coorelates to these cost of living issues. Please be kind in these times.
Well made point
those who have no money for food should fly out to Rwanda, freening the limited lifespace and resources for productive workers. This is CA PI TA LISM, those who do not have $300/month are useless trash and lose the permanent race, not just "struggling vulnerables" but social burden.
Should I be kind to the people that mocked me as a conspiracy theorist for suggesting this was going to happen?
‘but these times’ are to get a whole lot worse and permanent
Just look at Europe and their sorry mess. Mass migration and all the other squandering of our money does not end well
The UK and US as well..
Western Sydney Airport, will bring in 10 million arrivals per year, wake up Australia 🇦🇺
Exactly.
We never needed the new airport.
The land for the new airport was owned by Aussies and W@g families. But that’s all gone now. We can’t have anything like that.
Just high rise Meriton’s, uber drivers/ eats and Chindians & muslims EVERYWHERE.
This is an abuse of Australia.
Yes Labor's fault.
@@gore1089 both parties are to blame. While the LNP was screaming about the boat smugglers, they were setting up dodgy visa, with private overseas visa agents to bring in cheap Asian labour though the airports. The problem of unaffordable housing goes back a long time! They also destroyed the award, creating casual work instead of full time, destroying the middle class and the ability of many to apply for a mortgage. I know because I was a victim of it. People wonder why the birth rate is low! Add Howard’s negative gearing to rub more salt into wound. F$&@“$! Sadists!
@@BigRed1af
You are on the right channel and if you watch long enough you will find that everything is Labor's fault even in opposition.
@BigRed1af
I don't know where you heard that I didn't hear it here, 9, 2 or 7
Also on none of the newspapers.
Maybe it was fake news?
I can’t believe how far we have fallen under this useless government.
This is why I left Australia. From the lucky country to the un lucky country
And everything traced back to govts. They created it. And now in Australia everyone divided by literally everything.
‘Lucky country’ was always a sledge - it meant bountiful resources (mining) but second-rate leadership. It’s true as ever.
Lucky means "no need to work hard" AKA "keep worklife balance"?
A few years to go on the treadmill then it asta la vista I won’t be back 🎉
@@ulagatin WTF this has to do with the government? I thought as a right winger you would want government to be out of these private businesses? this is pure evils of capitalism.
Well Australia voted for Green Marxism. What did possibly expect would happen?
But the cavalry is coming to save the say in the form of MAGA!
Nope. As you can see from comments We, The People, demand Low Prices! Govt Must Do! We are vulnerable sheeple! Naaaaaaaannnny!!!111 Baaaaaah!
Ohhhhh, lets complain online, pretty sure the politicians that have 7+ houses are reading the comments.
We need to list everyone against abolishing tax concessions and negative gearing, we need to show that no one is happy.
Double standard boast about owning property investment then says buying a house is a problem…
Yes and he was cheering for prices to keep going up.
So what’s Albo & co going to do about this mess? Or is this what they aspire this country to become with their ridiculous weather policies and more.
He has the WEF vision for Australia-indentured servitude, serfdom.
He will do nothing about it and only make it worse till it breaks, so will the liberal party and no one will vote in a smaller party so we can't even vote out of this situation. That is because the housing market is worth more than 3 times the ASX, that is more than 3 times every company is making and is worth in Australia. If the housing prices drop to become affordable Australia's economy will probably collapse and Australia's ranking in wealth will completely plummet in global ranking. I don't believe labour or liberal will even dare to do that. If anything, they will drop house prices by few percent and say "look now its affordable, we did a great job" and no it won't be affordable, it will have 0 impact on affordability because housing will need to drop by over 50% to become affordable and even then it will still be to expensive for low income earners.
WTF this has to do with the government? I thought as a right winger you would want government to be out of these private businesses? this is pure evils of capitalism.
Albo should have had a million homes ready to build and have them started the minute they got in.
This is all Labor's fault.
They would almost be finished now.
@@gore1089 Wait, I thought this was satire at first. You believe 1 million homes could just be built in a couple of years, with the building supplies shortage and worker shortage? And right after the previous govt sat on their hands? And if it was pulled off, it would've doubled the construction building record.
You must believe in genies too.
Just the way labor likes it,
WTF this has to do with the government? I thought as a right winger you would want government to be out of these private businesses? this is pure evils of capitalism.
@@wonderwalls3565 it's got everything to to do with the labor government. The worst government in Australia's history, hard to believe but this little tnuc has surpassed rudd/gillard
@@DOWNUNDER. you did not answer. how is it governments job to build houses in a capitalist country?
Also how long ago this guy you talk about came in power? who was in power before him for 8 years?
@@wonderwalls3565
Listen comrade it doesn't matter how much you carry on like a Karen. You ain't gonna change any body's mind, Alblo and labor are the worst in Australian history, even as I write this he is selling out Australia to china
labor has brought in 2 million immigrants creating a housing crisis,
@@wonderwalls3565 here's is a idea , pretend that you don't know that labor has trashed the economy, ripped the guts out of manufacturing.
Delivered a effective pay decrease by 8,000/annum via artificially induced inflation. Brought in 2 million broke immigrants
While leftist councils making it near impossible to build houses with ridiculous regulations .
And ignoring all that carry on like a 2 bob watch about its not the government's responsibility ..
If we continue on this path. 70% of workers in Australia will be homeless.
People from overseas and interstate have ruied Adelaide for us that were born here.
Because we all know how you ruled for all 150 years.
@@antontsauand how was society before that time? There wasn’t one. The inhabitants couldn’t even invent the wheel. A backward stone age culture that was brought into civilisation by European settlement.
The only way to fix this crisis quickly is to tackle the demand side.. nobody in government or any media corps care to mention this because I suspect they secretly don't want to solve the crisis. If you want to profit, create a crisis and sell a solution as they say. Media corps love talking about the ongoing crisis and probably won't want to promote anything that might actually fix it.
Lol……good ‘ol RUclips removed my comment I posted about 2 hours ago. What a pathetically woke company they’ve become.
@@sl2462 WTF this has to do with the government? I thought as a right winger you would want government to be out of these private businesses? this is pure evils of capitalism.
I have friends who work in Nursing and Welfare and they are saying peoples MENTAL and Physical Health is going down hill. Homelessness a huge cause. Its Freezing and people are getting Sick or DIEING. This should NOT be Happening in Australia in 2024.
in 1980 the average home in Sydney was 5.5 times the median adult wage, in 2024 it's 15.4 times. One needs to be on an income of 250k to be on purchasing parity to 1980, which is in top 10% of income earners. There is no doubt that increase in demand is due to immigration and lack of release of land to build new dwellings . Around this time 1990s onwards, there was a concerted push to build more high rise apartments as opposed to the release new estates to minimise the pressure of urban sprawl and infrastructure . Add to this the changes in the way inflation was calculated, you will see that wages have basically been subdued over time leading to unaffordability. All things being equal, based in the median income in Sydney of 90k in 2024, Sydney house prices would need to be around 511k to be on purchasing parity to 1980. There's no doubt boomers had it easier than todays young, not to mention they were not saddled with huge tertiary HELP fees at the start of their working careers.
Your 100% right- but no politician wants to do anything about it, let alone have open discussion, they are in charge of award wages but yet nope they can't fix it
Facts.
Remove tax incentives negative gearing and cgt discount, reduce immigration on par with housing construction
Need to scrap negative gearing for existing properties and only keep for new builds. Otherwise more and more homes will be owned by property investors instead of first home buyers.
Negative gearing just means the renter is paying a bargain rent. The rent is less than the actual cost of the property.
Your envy is preventing you from seeing the truth.
@@twisterli9177 the reality is that unless you’ve got an inheritance coming if you’re a young Australian you have no chance. If you call that envy then so be it. Let’s see what happens when the proportion of envious people hit a critical mass, a breaking point is on the horizon and people are angry.
@@jimmyinjapan6797 is that a threat?
Yes, you owning a fully detached house in the best parts of Sydney will need muti generational help. Just like every other international city. That's just reality with an amazing city.
Do you want Sydney to be a backward city, no variety of food, no harbour, no opera house, no people, no jobs?
And then to threaten others because your parents didn't plan for you... that's exactly what envy (and evil) looks like.
@@twisterli9177 its a threat of political change, that’s for sure. Angry people vote. Don’t expect people to vote conservatively if they have nothing to conserve.
What a disgusting person you are for calling it evil to believe that someone decent and hardworking like a teacher or nurse deserves to live near the place they work. Take a long and hard look at yourself.
@twisterli9177 😂😂😂😂
If you can't afford to live in Sydney, Paris, New York, Hong Kong or London, MOVE
Sydney and Australia for that matter is at the a#$ end of the world. I know it hurts you for me to say this but Sydney should never be included in that list of cities.
@@carlbryson924 You choosing to live in Western suburbs ,, yes you live in rubbish area
@carlbryson924 it doesn't hurt me at all. As they said 'over and over and over' supply and demand is driving Sydney prices so someone disagrees with you thinking Sydney and Australia is the ### end of the world 😅😂😅
@@tilapiadave3234 I live in Tokyo, you 🤡 ! Lol…. I have several apartments in the inner city of Sydney that I rent out. Elizabeth Bay, Potts Point, Darlinghurst. I also know an international city when I see one and Sydney ain’t it.
@@Birch37 it’s a geographical fact Birch. Look at a map.
And the government is letting this happen????
I make $82,000 a year. How am I meant to retain my job in sydney and along with my new wife, start/raise a family of hopefully 2 kids? I may as well walk off a cliff and leave behind my life insurance payout.
Get a decent job
@@tilapiadave3234 What job should i be looking at that would give me an extra 100,000 annually?
@@tilapiadave3234 What would you suggest?
@@Disillusioned2022 Hang in there dude. Wishing you all the very best. This insanity can’t continue, it is not sustainable.
Maybe you should not have kids or just have one kid and get your wife to work as well..
People here have been living beyond their means for years now, it’s finally catching up.Financial advisors who encouraged people to borrow like crazy whilst money was cheap to borrow are also partially responsible. Time to face reality and quit the habit of spending money that one doesn’t have! Gonna take some doing though. Interesting times ahead.
So true.....tax accountants first response to a customer querying how to reduce tax is to "buy an investment property" , now everyone has an investment prop.....Remember what Warren Buffet says...."Be fearful when everyone is greedy"
Knock knock.....
Who's there?
Just the door, can't afford the rest of the house.
I think it is a life style choice for some people not being able afford a home in Sydney, why can't they just land themselves a $186,000 PA job ?
Exactly.. many people who earn lower salaries waste it on useless stuff.
@@joelc9439 exactly, they should have studied and worked harder and all become some neurosurgeons making 7 figures a year.
It's more affordable if we only consider apartments or units in Sydney
In the eyes of Australians and the Australian Dream...Apartments and units aren't part of the vision. Australian culture is brainwashed to believe that a detached house is the gold standard and living in a unit/apartment means your trash.
GREAT thinking ,,, kids brought up 18 hours a day with face in front of screen and never see a blade of grass.
@@tilapiadave3234 Or how about teaching kids some independence and to walk to the local shops and parks on their own...or to take public transport on their own like in Europe and Asia. If kids are on their screens...that's not a kid problem...that's a parental problem.
Its easier if they live near shops and public transport...which is usually where units are.
In the future sadly but it'll be reality whether you like it or not...the Australian dream or a detached home with a backyard is going to die in the cities and move to the outer suburbs or regional NSW where they honestly belong.
@@kennylee8936 My kids grew up with a backyard ,, yes I PAID for it ,,, my kids road push bikes around EVERY afternoon. My kids both played sport ,,, I insisted on them playing sport but choice of sport was up to them. My kids had a limit of one hour screen time on week days 2 hours on weekends ,,,,
Shops , 3 sets of shops within 2 km of my house ....
@@kennylee8936
Brainwashed according to those who don't make enough to buy a toolshed let alone their own home and their world view barely extends past city limits.
Sydney keep importing nurses from overseas, because Sydney nurses moved interstate.
Nurses are HUGELY over-paid ,,
@@tilapiadave3234 even with that they still can't afford a small home.
So according to your logic interstate should not have nurses.
@@wonderwalls3565 We should stop wasting money training and employing nurses from here ,, Import cheap replacements
@@Zilron38 Then get a real job ?
Unless the RBA raises interest to 15%, the average income earners don't have any hope of buying a decent sized house anywhere in Australia. And sadly, this is not happening because central bankers control asset prices by keeping a lid on interest rates for too long, to the detriment of the middle class. As a result, the poor gets poorer, and the rich gets richer.
As a property investor, I pass most of Federal, State and Council taxes & rates to the tenant. If they don't like it, they can fark off. Just do the maths on a $2M house at 6.5% interest rates, council rates, land tax, building insurance, water rates, repairs and maintenance. It's about $150K pa cost or opportunity cost. The tenant only pays about $50K to $65K pa to live there. If tenants want lower rent, just get the Government and Councils to stop the taxes and rates.
All those taxes have been conducted to pay for their stuff ups and record debt...
That's one of the problems 20 years ago the majority of people who were renting their houses out didn't have mortgage on them they owned them. So they didn't raise rents when int rates went up.
With no extra property purchases, my Land taxes have quadrupled in the last dozen years. Council rates have doubled in the last 5 years.
These greedy b@stard governments are partially responsible for this cost of living crisis in my opinion.
@@RebeccaRussell-cc3pfI own several properties outright and it’s my Property managers who set the rent. The agencies do it for us. Once a year, there’s a “rent review” and they’ll pass it on whether to leave it or raise it. As I wrote above, due to idiot governments, rates and other miscellaneous govt taxes/fees have gone through the roof which has been exacerbated the situation.
That would be $4791.67 per month.
Should charge double taxes for property owners who leave their property empty.
Merri-bek local people must have many rental properties with them.... Council doubles the rate and what do they think is gonna happen? Simply the rent for the new settlers there is going to go skyhigh and these local will make millions.
Maybe VOTE DIFFERENT??
you citizens occupy 2% of the land in Australia, do they not know how to build houses?
Nope. They work as baristas and uber drivers, and of course want house (not unit) in inner Sydney. No one knows how to build houses in air, and all land there is already occupied, and baristas know nothing about nasty dirty construction work.
They don't release land to build on.
The issue is that many houses are empty and many houses are being used as short-term rentals and this is wrong!
@@joelc9439 Home owners bring stability to the community. Rentals are everything wrong for housing. Most people want a home base and the Gov should encourage this by making housing affordable by doing whatever in hell it takes for the sake of good order and discipline.
@@joelc9439 Nothing wrong. It just means someone has enough money to keep house empty, and someone is less useful than fresh immigrant from 3rd world (who immediately finds accomodation and job!), with all citizens rights, language, networking and so on he cant gain enough even for basic needs.
3:17 this. Don't live there then...plenty of other places in Australia to live that aren't Sydney.
Get skills, go overseas or do FIFO, earn money, be smart, invest wisely and do it that way.
You can run away from a tidal wave, but when you turn back around, it's still going to be a tidal wave. You could leave for ten or twenty years to make money overseas, come back and you still need millions.
Toni, not if you are smart with your money and if you are happy to not waste money on luxury things..
Put the % of people out there who voted Labor.
Well if you are one of these how do you feel that you have got all of Australia in one big Mess and crab
Hope you all sleep well at night😮😴😠
I tells the design is depending on you inheriting and selling property.
They hate that the previous gen got property
and to deplete it they make it impossible to get additional property
focus on enforcing passover.
My plan is to leave Australia and go somewhere affordable. Escape this madness.
Most other countries are worse than Australia..
Sydney is the equivalent of looking for accommodation at the gold coast in peak period in happy holiday time. Its uber expensive.
Politicians and big business have created this.
Socialism policy has lefty not capitalism.
it is not a coincidence that this is happening all over the West.....would you rather they waged a fake World War?
It’s by design. It’s part of the plan.
Add a rent cap to the double rates for landlords
And Australian governments loves the badge of honour that comes with this.
WTF this has to do with the government? I thought as a right winger you would want government to be out of these private businesses? this is pure evils of capitalism.
@@wonderwalls3565
Better than the pure evils of socialism where you wouldn't be allowed to live in the city coming from a rural area, treated like an illegal immigrant in your own country like in China and Cuba.
"Just imagine what people are thinking" torches, pitchforks, gallows, inquisitions. "... but that would make things worse" Sir, these people didnt come here to be reasoned with
Its a disgrace
There are houses in Brisbane for less than $500k, 30kms out in Logan $450k, 40kms out in Ipswich $400k
ok, say you have 100k deposit and take out a 300k loan, you will need at least a 90k income to buy something for $400k. Can I move to Brisbane and get a 90k+ job?
@@Zilron38 how much did you want to pay for a house and land, $200,000? Prices haven't been $200,000 or 20-30 years.
have you looked around at the type of people (most) who live there?
thought not!
@@Birch37 I don't think you understand my point, my point is that is what I can afford. I can't afford anything beyond 350k. I work in finance. The only way I can make more money is to become manager, so say I do, what about everyone else who is not a manager?? can they afford more, the answer is no. Sure you can buy combine incomes with others to buy the property with you. But what if that is not an option for you? Then you are screwed and moving towards poverty as rent prices keep going up.
Why 90K????
They keep,on saying wages are not keeping up,with house prices ,that’s the problem we are of the highest paid in world so dog chasing tail .
Too many people complain and want more money... And they waste money on rubbish.
If half of population excluded from competition Because They Already Have Won and now NIMBY, the rest get very tight fight, and no one parttime barista have any chances.
180K not for individual but for household, which is reasonable for Sydney.
The way prices are you'd be saving forever.
if you are parttime barista and want to buy your first home in inner Sydney, not just place to live somewhere on M6? Yes. Welcome to the real world.
We are being nostalgic.
Sydney is an international city with international prices and people. No one expects to buy a house in Manhattan or London.
It's time to accept reality.
You must have skin in the game. Are you a real estate agent by any chance?
@@carlbryson924 they don't answer when exposed.
Manthhan cheap 2 bed apartmemt $600000aud
@@carlbryson924 relevance? Do you have no skin in the game? Did you waste your adulthood on avocados and lattes?
@@twisterli9177 just curious why you’re pushing the real estate Ponzi scheme. For the record yeah, I have several apartments in inner city Sydney. Do I like seeing young people locked out of the market. No. Do I think my 2 bdrm apartment is really worth nearly $A2 million after buying it for $210,000 in the mid 90’s?
Hell no. Sydney is out of control.
I’m actually surprised 😮. And here we are having a lot of Kiwis moving up to Australia for “better” living yet it costs a lot to buy a 🏠 and it’s even harder for ‘white collar’ workers? Damn! I guess we are all struggling anywhere & everywhere nowadays.
Yeah but Australia is much bigger than New Zealand..
@@joelc9439 I know their land is definitely bigger than New Zealand. Yet whats your point? Sorry I’m sometimes blonde or dhurr that I sometimes need further clarification?
Kiwis are doing ok if you haven’t realized, at least our house price has dropped to sensible levels, and will stay there for quite some time down the road.
Aussie’s is about to find themselves between a rock and a hard place when RBA raising interest rates again.
You will own nothing and be happy. Scarry thing is i don't know if its a.quote or a command
I live in government housing atm a 3 bedroom house $93 a week
And you probably think you are a clever person!
good luck helping your kids take a step forward....
so aren’t you lucky
The rest of us hard working tax paying citizens are supplementing your living. I am still working as a nurse in a hospital and I’am working to pay towards all those who haven’t planned well in their life
no one should be getting a free ride and living out of other peoples pockets!
All subsidized by those ineligible for government housing.
@Jacqui-ie9kw OK I give you a rundown what I get per fortnight $762.70 housing rent $187 per fortnight, energy supplement $8.80,child support $18.90 per fortnight, which leaves me with $565 now split that in half that leaves me $232.50 per week running cost of car $100 for per fortnight for petrol, rego $187 for 3months no concession ,maintenance tyres etc and the car is 30yrs old. So you didn't mind Airbus albo spending $450 million on a vote went no,or pledging $600 million on a fucking football team in Papua new Guinea so you think that's money well spent?
Keep feminising the workforce! It has happened for years. Before I get attacked by all and sundry.......this was an attempt by the ALP to never lose office! The cost of everything is based upon a two income (good package) family!!!!
You don't need to have a good package just make sure you are smart with your money..
As a self confessed socialist, why isn’t Hildebrand giving half his shit away if he’s on a good wicket? Yet another champagne socialist 🤮
Adelaide was 8th last year
Where is it now?
@@joelc9439 watch the video?
Thank you Little Johnnie Howard!🪣💩
WHAT?
Who's gonna pay me $90/hr?
Why I got out of your appallingly governed, blissfully ignorant economic train wreck. From a nice place to a residential real estate economic basket case in 10-15 hrs.
Is all good our politicians have multiple million dollar property portfolios. Our primeminister has a 9 million dollar property portfolio .going to a good profitable plan.
You mean each....
It appears that there may be a lack of awareness among Australians regarding the factors contributing to their constrained disposable income, which in turn impacts their ability to support businesses in need of customers and consequently limits the ability to offer competitive wages, as was observed in the prosperous decades of the 1950s through the 1980s. This situation is often attributed to the significant overhead costs associated with governmental operations, colloquially referred to as the "Deep State," which reportedly accounts for a sizable portion of the national Gross Domestic Product (GDP).
Several economic pressures exacerbate this issue, including a substantial new house tax rate of 45%, elevated fuel prices, and the unyielding nature of expenses such as rent, mortgage payments, and food costs. These economic dynamics are further compounded by a governmental dependency on the revenue generated from these sources to sustain the existing administrative framework, characterized by its top-heavy structure.
It's worth noting that this phenomenon extends beyond Australia, manifesting as a global trend with far-reaching implications.
In 1887 Alexander Tyler, a Scottish history professor at the University of Edinburgh, had this to say about the fall of the Athenian Republic some 2,000 years prior:
"A democracy is always temporary in nature; it simply cannot exist as a permanent form of government".
A democracy will continue to exist up until the time that voters discover that they can vote themselves generous gifts from the public treasury.
From that moment on, the majority always votes for the candidates who promise the most benefits from the public treasury, with the result that every democracy will finally collapse over loose fiscal policy, (which is always followed by a dictatorship).
"The average age of the world's greatest civilizations from the beginning of history has been about 300 years. During those 300 years, these nations always progressed through the following sequence:”
From bondage to spiritual faith;
From spiritual faith to great courage;
From courage to liberty;
From liberty to abundance;
From abundance to complacency;
From complacency to apathy;
From apathy to dependence on the state; - Here we are folks!
From dependence back into bondage;
why not just cap the rent prices
You need lessons in economics… 🤦♂️
Rent control = less housing available.
Get use to living in apartments....make apartments more suited for families. The detached home on a quarter acre block Australian Dream is dead in the cities. If you want that...move to regional NSW.
Many people should not even be having children because they are horrible parents!!
So you just need to earn $186,000 a year for 30 years to pay off your home. Nice.
35 years. A few years are needed to save up the deposit first.
And then your wife divorces you and takes 80% of it :)
But if your wife is working then she wouldn't be getting half your money hahaha..
Not for 30 years but maybe at least 10 to 15 years...
@@joelc9439 If she's working then 60% of her money is going to childcare so she can go to work to earn money for ... childcare? To be able to ... wait.
You know what they say. Your money is her money. And her money is her money.
No one is forcing ppl to live in Sydney. Move somewhere else or stop whinging.
And stop spending your money on other useless things..
@@joelc9439 Exactly. No one is prepared to make sacrifices.
The increase of house prices will make the rental market even higher since people can’t afford even to pay for the down payment.
Australia will become like Japan, South Korea, Singapore but the only difference is their government are smarter and they started earlier by blocking all the foreigners to buy property with high duy and taxes.
Some country even totally blocked PR to buy a house and only citizen are allow to buy house and make it difficult to buy investment house.
The Australia government mistakes are allowing the state government went bankrupt with out of control project that cost us losing billions and not controlling the inflation and interest rate within a space of 2 years. They also suddenly increase all the property taxes and created this bubble effect for the investor to increase rent or to force them to sell high.
The governments of Japan and South Korea also make sure that the citizens work and work and work.. little time to relax..
@@joelc9439 we are talking about different things. Yes they might work more and probably more productive while Australian will suffer in the near future because their jobs will or already move to overseas. It’s already happening with Accountant, bookkeeper, call centre, IT, finance, developers, warehouse automation, etc.
Time to relax mate
No probs, just keep adding to the number of people who need somewhere to live, demand over supply is sure to drive the prices down...........
Everything is f*uk*d
STOP IMPORTING PEOPLE!!!
I own my own home and a 20-acre farm, and I fought the Municipality on the Property Tax Issue and WON!!!
Because of this, I pay nothing for my housing. It's an old house, but I'm happy here.
I also live Off Grid and so have no utility bills either, other than my Internet.
My heart goes out for all those starting out, though.
I encourage all the folks out there to fight the municipalities on the property tax issue. They are all private corporations and therefore have NO RIGHT to issue INVOICES AND DEMAND PAYMENT WITHOUT CONSENT!!!
High Court of Australia Precedent Queensland Rail v Union, 2015.
I haven't paid "Property Taxes" (so called) since 2016 and I'm still here, there's not a damned thing they can do about it!
This is not legal advice, just education and an anecdote of my personal experience.
I pray that God blesses you all with a knowledge of the Truth!
Do you expect that everyone can/should have the kind of home you have?
Australia can import some people you muppet..
:(
🇺🇸♟♟♟♟♟♟🇮🇱✡️
Sydney not number 2 not even close Singapore is " then Bejing " then Vienna " " then Zurich" then Copanhagan " then Berlin i also forgot Olso in Norway ..
Home ownership below 50% in these countries studio million dollars ! Sydney it $600000 in bondi not so bad ! Do you see a paten here more socialist country more expensive to live
$20,000 for apartment in Russia ,,, $30,000 in China ,,,, umm you want a MUCH longer list
Switzerland is not really socialist.
@@tilapiadave3234
Those countries don't have mass immigration.
But Beijing is cheaper..
I live in central Qld and paid $530k in 2018 for my house. It’s now valued at $750kplus which means absolutely nothing to me because the cost of replacing my house is to no advantage. I feel for the younger people who most probably will never afford to own their own house. Disgusting. Thanks boomers😒
Maybe tell the young people to stop wasting money on useless garbage!! Most boomers at least know what hardship is and they were careful with their money..