Rentageddon: Is Gen Z Careening Towards Another Crisis?
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- Опубликовано: 7 окт 2024
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Have you or someone you know experienced the mayhem in the rental market lately? Rents are up nationally 10.1% in the last 12 months according to SQM. Underlying that is up to 50% increases as existing tenants' leases expire, bidding wars for new properties, and inspection queues sometimes winding around the block. Where is this coming from? And what does it mean looking forward?
Nucleus Wealth's Chief Operating Officer, Shelley George, and Chief Economist, Leith Van Onselen, take a look.
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How is the RBA going to get inflation down if rental costs will keep going up due to low rental vacancies while ALP is pursuing high immigration?
What does rental contribute to inflation?
@@M.-.D it's discussed at 48:44 until about 50:48. Rental market is 6% of the inflation basket, 2nd biggest thing measured. According to this talk.☘
@@noccer Sounds like high inflation is going to be the new normal. Because I don't think ALP/Coalition/The Greens are going to stop with this terrible mass immigration policy. At least not until they force enough of the voting population into homelessness.
@@noccer Yes, so an ongoing 10-15% increased ease which is region focused will contribute small absolute amounts to overall numbers.
6 times more short term holiday let properties than long term rentals..no politicians even mention it . Negative gearing should not be available for these properties. Discuss
Someone has because ATO is going after them in tax policy. We will see. But pressure growing for only 2 investment properties eligible for ATO business claims. Bigger issue is that we aren't copying Canada by blocking foreign investors diving back into housing again. They are already causing in fglation. Great for sellers but corrosive for Australia. It will lock out FHBs yet again.
I wonder if the economics might move to the point that some of those short term rentals get converted to long term rentals. Shelley
Love the bonus section haha
Great pod
Excellent thank you compulsory listening
Interesting interview, many thanks.
Compulsory listening
Shelley, look up Stansberry Research, Daniela Carbone Show. You were reminding me of her style. It's also really good podcast. Enjoy! I've heard Leith say this in Marcus North. He's fun.
Thanks very much Leonie. I will!
If the government is serious to solve it they need to design a new metropolis in between Sydney and Melbourne.
And they need to start today and hopefully in the future that will make a fast train as a good invesment.
Jeez there's only so much whinging about migration I can listen to lol. Is Macro Business aimed at helping investors get better returns on their portfolios, or is it a hobby horse platform to whinge about migration, gas & the structure of the economy? 🤣 Israel is another Western country with very high immigration, higher than Aus in fact. You reckon there's an equivalent over there saying the same stuff, only replacing Australia with Israel in his rants? 🤣
Israel is hardly kicking goals either. You are comparing apples and oranges regardless. Israel has an innovative economy - Australia has a ponzi economy based on importing people, building infrastructure and digging holes. It is a pressing issue in this country, if you're not interested then switch off
@Markus Zachest Yeah yeah I watched Matt Barrie's long winded screed about the ponzi economy too. These people have been whinging the same whinge for 10 years now. I've had enough myself, and I did switch it off, but keep listening to it if you want.
@@haroldgrey134 So should we ignore the broken economic structure then? Or should we call it out? Silence is obedience and tacit endorsement. I don't roll like that. I'm also concerned about the impacts on my own children. Shame on me, hey?
It's a really good point Harold. I personally don't have an issue with migration itself. My concern is that you need to have appropriate policies in place to support it. For example around transport, housing, jobs, health, education etc. I felt Leith articulated quite well that there isn't really evidence for that after 20 years of Big Australia policy. Shelley
@@Leithvo mate thanks for the reply, appreciate your engagement. I'm personally fed up with complaints about immigration. I read it all day on twitter. Immigration obviously has its strengths and weaknesses. I just believe cutting immigration wont magically bring the auto industry back. In fact - we never made cars. We assembled kits. I'm a free marketer myself, I believe in no subsidies for housing, nor anybody else. But cutting all this nonsense with housing won't magically create a semiconductor fab plant in Aus. Government "support" for industry ends up with white elephant projects & payments to uncompetitive businesses like our "auto" makers. Having said all that - despite where everything seems to be getting worse - I'm looking out for me & my own portfolio, because I know my whinging aint going to change the minds of 2/3rds of the country of owners & mortgagors, millions of Aussies who expect house prices to only go up, and vote accordingly.