0 % interest for first home buyers is the best plan for the future ,we need to support our children, in building australia, Albo is a wanker, assets are important to our childrens future, lets all help to give them assets ,they will eventually support thier country, get rid of the vampires in the gov and banking get rid of the lies from big commercial extraction programmes

3 words for this mess. Immi gra tion.

Very good

Thanks

Stop long term migration, remove negative gearing, and remove foreign ownership by policing it with vigorously and removing policies that are loopholed and property are forfeited ( look at our neighbours in Indonesia). All property which is sitting vacant is easily found out by water consumption and should be sevearly taxed. Then problem is solved.

Couldn't possibly be because of corrupt governments could it !

In a command economy its absolutely absurd to pretend the "market" has anything to do with it when the market only responds to the conditiona government impose. You make land hard to come buy, you delay and destroy delelopment opportunities outside the CBD. Tell me about the rebuild approvals and insurance pay outs from the fires in 2018? Oh those areas outside of newscastle are now posted to be a 15 minute smart city? Government has created this situation and it wont stop as australians retire, super funds need something to invest in as migration is frozen, no new super accounts are made. The Australian economy through command principles is quickly becoming a two speed economy, a 2 class society.

It's all commonsense. The tax revenue is the driver for this housing crisis coupled with sudden large pool of immigration post pandemic. I just wonder how the 1 mln mortgagees are going to have a good time sitting on the time bomb waiting for the bubble to burst. The effect will only be felt when stock market starting to crash in a big way, interest rate keep rising, jobs disappearing and people staring to leave in exodus. Export dwindling due to geopolitical climate, climate change and social impetus. A well run gov administration will only allow one dwelling for each family and no multiple investment structured to negative gearing that destroyed the dream home of ordinary citizen.

Quite ironic that what appears to be a chinese person telling us why we cant own a home now😂

Cheers for that, definitely a better understanding.

There are only three solutions to fixing the property market; 1. Stop all immigration until building supply exceed demand. 2. Build more - Basic maths. Hampered by building costs and govt red tape. No easy fix. 3. Reduce the tax benefits to zero for investment properties - politicians won't do this as they risk losing up to a third of the population's votes. This will crash the market and send investors to the wall.

Supply and demand. Millions of people in Sydney, and only a few desirable suburbs people want to live.

so why then is people prefer to live in the burbs is housing so hard and expensive to find inner city ??? That argument is utter rubbish! people move to the boring burbs because there is NO other option.

Where are the stats of Australian suburban realestate sold to foreign nationals Where are the stats of foreign countries allowed to buy property literally buying Australians out over the internet 900000 people arrived from overseas 200000 home built The only people to afford these home are foreign nationals

Australia has nothing going for it. Decades of poor governance hasn’t helped, either.

Worst country in the world. Melbourne the most liveable city in the world. My BIG Flat foot.

Saving a 20% whilst paying increasing rent prices…It’s just not possible for a lot of people.

High prices = high stamp duty

There is a housing crisis because houses have become a huge commodity that one involved wants to touch because they are all making money from it. There is no reason for a person to own a home they don't live in. It's just leeching off the hard work of others.

Double income families has increased disposable income.

Pure, blind greed is the problem in a systematically amoral and corrupt system. The "market" is a cop-out expression for politicians and other functionaries who support or shrug off the reality of enough housing but un, or underoccupied accommodation kept empty by fear, greed and cultivated ignorance based human consciousness - plenty of houses, but lots of sefish, greedy people who want money to make them "secure" or richer so they can respectably live beyond the limit of human decency and compassion. Won't share, don't care type of greed will kill us all. Disgusting, and covered up by those who serve international organised crimes' money laundering - and the real estate vultures just love it. This is so forked, and so much bulldust is raised by those who report on it and those who justify it. Are there many humans left in this country?

10:36 Another opinion from this, the reasons most homeowners oppose unit construction in built up suburban area is that the roads are no where near wide enough in some areas. Once you add a block of lets say 6 units you've potentially got between 6 - 12 cars that now need spaces. Assuming the developer adds 1 car park per unit, that's still 6 extra cars that now need street parking on an already tight street. I think units are a great way to get people into the market but roads need to be wider with at least 1 lane each way + curb side parking on both sides available, otherwise we're just going to have more people opposing unit construction.

Back in the day, when I purchased my first home to live-in; that was Miami in the early 1990s, first mortgages with rates of 8 to 9% and 9% to 10% were typical. People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Pretty sure I'm not alone in my chain of thoughts.

self cannibalising economy. bought my house but now im lviing overseas and renting it out. i dont see a good future with australia. the high value real estate kills every business especially retail. retailers had to fight to survive to even pay their rent. right now only pubs and supermarkets dominate the retail scene leaving most retailers who do not own their post struggling to float. its crazy shit hence i moved to japan the land of over hyped market mainly driven by natural resources but no manufacturing no strong retail economy and dominated by scamming builders and property hoarders. as long as there is negative gearing and no penalty to multiple properties owner then there is no hope

Leave the explanation to We Eat Fungus

Abolish negative gearing and remove the 50% Capital Gains Tax discount - so simple!

Search housing price vs interest rates and that's all you need to know

Those how already own housing get more investment homes. If you don't own a house, you can't beat the housing market. The Boomers have screwed the youth of Australia, for they are the LANDLORDS, and then blame young people as "individuals". Neo-Liberal mentality is the curse of the rich, and that is who Boomers are. Boomers are the ELITE. The Liberal Party destroyed the TAFE system every year they were in power, so we have a shortfall of tradies. This drove up the price of labour, and caused the price spike of housing. The Developers have their monopoly "land banks" who are pandered to by the local council.

The simple reason why Australia has unbelievable home prices is the lending rules that allow our banks to provide people incredible bidding power. The cross collateralized risks and LVR risks will inevitably be realized. The test will come when either the AUD has to be defended or if the USD needs to be defended. Unfortunately the mortgages are generally full recourse, so handing back the keys will not be the end.

Thanks for sharing your intense study It really helps

Not enough emphasis on the effect of the capital gains tax discount introduced by the Howard government. That has artificially pushed investment into housing which has pushed demand. It is not being helped by current immigration levels which are also pushing demand at a time of little supply. I believe long term this will be a disaster for Australia. I have seen the effects in my other country (I am a dual citizen of Australia and Taiwan). In Taiwan excessive house prices relative to income have lead to a very low birth rate which in turn means in the future we will have less worker to take care of older people etc. In the case of Australia (and to a certain extent Taiwan where it is basically just keeping the total population at a standstill) it has been countered by immigration. That is ok for somewhere that manufactures things (eg Taiwan or Singapore, the 2 rich Asian countries with relatively high immigration but low birth rate) but for Australia where the economy is reliant upon digging up dirt (ie mining) and agriculture (which has a fixed area to work with). Net migration should not be such that it much exceeds the natural fall in population in places with low birth rates. I completely agree about NIMBYism. Tax frameworks can change. The level of pressure for this is getting higher as more and more people are locked out or under house price based financial stress.

It is a conundrum. Vast country, less than 30 M people, less just one city f.e. Tokio. And then a house shortage?

Amazing videos! Thanks

Easy fix just sieze all property bought by people not born in Australia and redistribute it to Australian people

Have a look at some different views on the Housing Crisis and Negative Gearing cancellation kzbin.info/www/bejne/r3rXmn6Jr72Afbc; kzbin.info/www/bejne/gYCWYmOVaddkgdU

i am in usa this is very constructive thc

As long as auctioning property & sale by negotiation practices are conducted in real estate practice on our homes (a commodity for the country’s citizens) nothing’s going to change. You need to remove the tools that are allowing property prices to continue to rise when the entire real estate industry & property developers keep pushing prices up (there’s no ceiling on auction bidding) 🙄 The government could have made property zoned as residential as non appreciating assets to protect the population’s right to security & shelter & have a set price for property based on cost of building plus 10% profit. Instead they’ve let the market grow without any regulation or policy to keep our homes priced reasonably, & now these magical values being created at auction & greed, has created an unaffordability issue because the banks don’t want to lend against over inflated values. It’s risky. What did they expect? We could see property values were exceeding growth since the 90’s But they’ve allowed these practices on our homes advising property “miraculously” doubles in value every 7 - 10 years (based on supply & demand they say) It doesn’t, if you have a forward thinking government that cares about its citizens & policies to prevent the higher end of the market pushing up the lower end of the market to unaffordable values. You can’t pay more than a set price on other commodities, so why on our homes? So now, rather than being able to build more homes that are actually affordable, new high density housing is released at ridiculous Values that the average family can’t afford any way🙄 or auctioned, so the prices continue to increase, because of FOMO created by the real estate industry, media & technology allowing access to values, but it’s too far gone now. The bubble has to burst sooner or later. Units & Townhouses used to be cheaper than homes with land, not any more. It’s amazing what happens when you give the open market the ability to pay an unlimited amount for a commodity where the values end up? Residential homes should not be an auctionable commodity. Grow the economy with industry & innovation, not the lazy way of made up values (someone’s opinion) it’s appalling short sightedness from successive greedy Australian governments & it’s going to screw us all over if they don’t start placing restrictions on the real estate practices.

You didn't mention the obvious. FOS

The Australian housing crisis has been created by an unchecked immigration system. International buyers control the residential housing market. Sadly the worst is yet to come!!!

Who did the negative gearing study? I want to know who they are affiliated with. Lots of people use the losses to significantly reduce their personal tax. It is the standard advice that has been given for years and many who could afford to do so have taken advantage.

You need someone to gift you a significant amount of money to even get a start. Nearly everyone my age who owns had money given to them to pay the deposit or used the bank of Mum and Dad. Unfortunately not everyone is able to ask their parents for assistance and quite frankly we shouldn't need to.

A sustainable immigration number is 70,000 per year.Not the 220,000 average of the last decade or so.

In summary the government did not plan for Australians citizens. Yet we vote for the two political parties.

Destroying negative gearing would put more homes on the market for purchases, and benefit those who can afford to buy a home, but it would then also destroy the rental market, and put renters on the street.

“iTs sUPpLy” Wouldn’t be an issue without the mass immigration, irresponsibly low rates for over a decade and negative gearing. The reason housing is out of reach is all down the poor policy decisions,

Australia is a horrible country with no freedoms, everything is banned, very boring, high taxes, low salaries, fucked cost of living, huge housing costs, over reaching laws.

The reality of reality is always a new reality. There is no safeguards moving forward. Intelligence about borrowing money has not changed. Australia is a small market. The dream is not only over its impossible. Just rent. Never go to the bank unless you want to send your children into poverty. Our government doesn't care. Good luck. Life is more important than owning a home. But history repeats itself again and again 😢

So zone two will be the Bronx how wonderful.

I thinking i should buy property overseas because i can't afford property here.

Especially doesn't help when there are so many foreign investors that leave their property's empty, we could easily house thousands of people with all these vacent homes!