‘Sell up’: RBA Governor issues ‘ominous warning’ to homeowners amid cost of living crisis

Reserve Bank Governor Michele Bullock this week gave an ominous warning to homeowners to “sell up”, according to Sky News host Danica De Giorgio.
“In other words, things aren’t getting better - they are getting worse,” she said.
“Michele Bullock is not going to give in to Labor’s political timeline and Labor’s timeline between now and the next election to make sure the figures look in tip top shape.
“So as the party continues its reckless economic trajectory of record spending, immigration, disastrous renewable rollouts, high power prices and all the while igniting a war with the RBA - we are all once again, poorer for it.”

[@kenb1345]

The PM is also bringing in unemployable people in their 1000s and we tax payers are Paying the bill.

[@clydesimpson1462]

Albo categorically stated all these 1.15 million migrants are qualified. He just didn't state what type of qualifications they were.

[@alibarber57]

@@clydesimpson1462 qualified welfare teat suckers...same as politicians

[@Playboysmurf1]

NZ has the problem of bringing in wealthy Chinese under the Key National government. What we have now is alot of wealthy Chinese who own the land and businesses. The real estate developer are the worst as they do not hire outside the Chinese community. Essentially this makes the locals a second class of citizen. There is downsides when bringing in both poor and wealthy immigrants

[@vancouver63-p5w]

You will,own nothing and be happy ,WEF plan going to plan .

[@SD._]

100 They are all on WEF Payroll.

[@Hope-bc9yg]

@@SD._ guilty of tre ason and should be punished as such

[@steve.e7995]

Perhaps its time for the growing emerging awakened global community to give the WHO, WEF, WTO, and the likes the middle..DIGIT!!

[@victorgomes7585]

Vote One nation!

[@keithdrower9120]

No eff8ng way....shove off losers.....!

[@ThatGuy-ze5kk]

i understand the sentiment, but in reality you're just handing labor another term. there is only one way to get rid of this government, and that is to put lnp 1st!!

[@Mgjuvfoss]

@@ThatGuy-ze5kkLNP is not the solution. Two wings of the same bird.

[@ThatGuy-ze5kk]

@@Mgjuvfoss there are only two options for government, labor or liberal, like it or not you have to choose a side!

[@Mgjuvfoss]

@@ThatGuy-ze5kkBoth as useless as each other. We really are up you know what creek.

[@nomyafiftyonefifty8081]

" You will own nothing and be happy ". Can you see the pattern repeating yet or are you still blind.

[@steve.e7995]

Yes!! the END GAME ...unfolding right in front of us. Good time for people on mass to figure that out.

[@steve.e7995]

YES!! indeed playing clearly!! out...right in our faces...great time for people to figure it out, on mass.

[@obr170]

Bullshit Albo

[@JulianWestcott]

How can you stuff a country that has so many mineral resources

[@RobSettatree]

By allowing foreign ownership to come in and buy it then ship it for free while you cover the cost.

[@ma3stro681]

The rot started under Howard in 1996 and has continued since deliberately facilitated by treasonous politician$ …

[@williambeaumont7995]

It's easy allow the gas companies not to pay royalties and also not pay any tax in australia

[@RobSettatree]

@williambeaumont7995 especially when it's hard to say these resources belong to Australia. We'll mine it cheap and sell it to you at stock prices. Our government lacks a spine when standing up to America and the UN

[@sergeant5848]

Been to Papua New Guinea since 1975?

[@rataylor59]

Albo makes me feel sick

[@manflynil9751]

Actually, it was the Morrison government who made the decision to pump $760b into the economy during the shamdemic which caused the inflation which caused higher asset prices and costs of living.

[@chloearmitage9636]

Yes and so does Chalmers. I can't stand his constant smile.

[@joycelynstewart5103]

Albo has been set up for the fall, the previous prime ministers set Australia up for the great fall. Look up World Economic Forum/Agenda 2030.

[@jtfoto1]

People never learn. Everytime Labor is in power the same thing happens. Overspending which then requires a Liberal goverment to get us out of the shit.

[@RobSettatree]

Actually liberals come up with the bad ideas and Labor supercharge it. Don't be fooled by the idea of 1 fighting for you. They are in bed together.

[@PeterMooney-mo1ut]

Very well said it makes me so embarrassed as an Australian that there are so many brain dead dip shits living in this country

[@tomr6955]

Correct. Why is it that I realised this even before I left school but no one around me did?

[@RobSettatree]

@tomr6955 because you were already awake while others are sleeping at the wheel.

[@clydesimpson1462]

Over spending and under performing. That's the Labor way.

[@sierabravo215]

We've employed a bunch of Liars. Australian people are paying their salaries only to be sold out..... What a national disgrace on all levels.

[@destinyangel5]

"To sell their home" wrong solution governor. The correct answer is to sack Labor government .

[@alibarber57]

Sell up and rent off a Chinese or Indian

[@paulp5775]

It’s seems their the only ones who can afford property

[@clydesimpson1462]

@@paulp5775 Cashed up money laundering migrants.

[@chriswilson2327]

​@paulp5775 there the only ones with work ethic. Lots of Aussies are lazy.

[@GeoffMcMahon]

Thanks to Albo, The Land of Plenty is now The Land of Empty

[@KT-bb1tb]

So, Albozzo's Pick Michele Bullock....Isn't Working Out for Them ? What a Shame !

[@lornatodd4750]

😅good.

[@ma3stro681]

Another DEI. Never send a woemyn to do a man’s job … 🤡

[@alibarber57]

@@KT-bb1tb yes she is...doing exactly what they have ordered the govt to do Central banking system runs govts worldwide

[@ce244]

Understand that "they don't really care about us"; that means politicians and the whole establishment. Once you do, life is easier.

[@thefreeaussielad7292]

That looks to be the case. Quite a reckless and irresponsible government. They at least could give Aussies a heads up when it comes to adding an extra 5-8 percent of the population. Also went hard on immigration after losing to the no vote. If you haven’t got the numbers, import them.

[@mattcarlos8184]

Hahaha 100%

[@eromnaliuqyaj6288]

RBA cares - they might be the only chance we have of bringing down inflation.

[@floralcouture3763]

@@eromnaliuqyaj6288 What?!!..It’s the offspring of central banks!!

[@jasonrichardwatts]

@@eromnaliuqyaj6288Cool. So bread will be a bit cheaper but you'll lose your home for it.

[@uyc65cf]

Dear RBA people. When you are finished making billions of dollars in profits with the banks,........ can you please give us a rate cut, thank you.

[@Hope-bc9yg]

You're assuming they have empathy and compassion

[@johnnykkkk]

@uyc65cf the unfortunate part is the Federal government is spending it and we have to pay through interest rates increases 12 increases under these spenders 😔

[@eromnaliuqyaj6288]

They do have empathy. If they dont put downward pressure on inflation than we will turn into the next Zimbawee and our dollar will be worth nothing

[@presonuseris]

RBA: Nah, you wait long long as long as noboby pass me as better than Oscar best actress of the year.

[@albrantjes339]

all coincidentally right after they gave us so much for covid relief funding...

[@stovie2712]

It’s funny cos these guys get paid shitloads and give themselves massive payrise but tell us to spend less

[@PWC67]

I’d say that’s the Reserve Bank Governer saying, “Get ready, an interest rate is coming.”

[@zoolander1721]

She's already said it, i think feb next year its going up again 😂

[@tomr6955]

An interest rate.. ?

[@PWC67]

@@tomr6955 Silly me , rise of course.

[@julianchung9215]

What the hell is wrong with RBA! Labor and Liberal are both different sides of the same coin!!!! Vote them out!!!

[@loveitorleaveit6868]

Politicians have plenty of money to give other countries and they have all just received a 20% pay rise, the highest increase in a decade!

[@heatherstewart8452]

Issues are apparent, bring in over 1000,000 extra burden immigrants, that the tax payer works to support and house. Every cost has doubled since these idiots got to drive the bus, food, rent, houses, insurance, fuel, power.

[@davidscalais]

1million a year

[@NgocLam-cx4mv]

A slap in the face for those whom vote for Labor. .

[@gorakhgore5725]

That’s me 😂

[@LesleyStoddard]

@@gorakhgore5725 Sucker.....

[@mikaelafox6106]

@@gorakhgore5725You didn't know how bad they were before voting?

[@gorakhgore5725]

@@mikaelafox6106 umm I sort of knew but then I thought let’s give a chance once coz last 2 terms they didn’t get a chance so yeah. But from now onwards that’s it I’m done with them.

[@scottlewisparsons9551]

@@gorakhgore5725I like your honesty.

[@theparkup-w9m]

I hate to be political. But how can someone on a million dollar salary tell hard working people what to do. And why cant all of these highly paid people make this right, instead of asking millions to suffer?

[@michaellucas4873]

Sell up and buy a tent, is that the idea?

[@ElizabethGatta]

albo's exact words "the Reserve Bank undertake its work they do so independently of government" , if it's not under government control then it must be a private company or under foreign control, what the hell is going on with our money, who's controlling it, enough of this BS, time for answers.

[@leewilton5082]

The Australian economic model. Focus on increasing corporate profits. Remove or limit citizens access to essential services. Remove the middle class. Close industry or send it overseas. Only rely on what is dug out of the ground. Give gas away then buy it back at a premium. Increase energy prices. Hide all of this with mass immigration. Have I missed anything?

[@AussieDreamChaser]

Leave the WEF and UN. Stop Net Zero farce and the Globalist agenda. End Mass Immigration and stop Foriegn Ownership.

[@alibarber57]

@leewilton5082 yes you missed the bit about the digital ID prison getting built around us...then controlled digital currency...then comes Universal Basic Income Then, they will solve the housing "crisis" they created by forcing you to take immigrants into your homes if you have spare bedrooms. Refusal will be met with freezing your digital bank account and loss of your Universal Basic Income until you COMPLY. All homes will belong to the State as you have to sign over your assets to get the UBI, thus making you a renter. They will do this through increasing rates and charges and Unrealised Capital Gains tax on the family home until you are forced to sell. These dogs have no empathy for us as they don't work for us.

[@amandaboado7057]

Yes, pretend to care about the housing crisis and build minimal housing. Don’t release any more land. Go out to lunch and spend thousands on a steak, laugh about it and be braised enough to not give a shit that some people don’t even have shelter. Hide the fact that they opted out of voting Israel has a right to protect itself. This government is cowardly and does not represent me. Take no ownership for wrecking states during covid lockdowns , which caused many to lose everything and then put laws in place to kick them in the guts while they were down… talking about Victorian labour government. No compensation or accountability for mismanagement. All this besides the fact he should apologise for looking like a week little man. Him and Dan Andrew’s look like cousins of Monty Burns from the Simpsons.

[@valenrn8657]

Albo installed Michele Bullock also owns investment properties at Five Dock and Drummoyne in Sydney that are worth around $1 million each.

[@KingsleyThomson-j1w]

Nice to see Wayne Swan add his advice to the economy issues,,, the absolute worst and incompetent treasurer Australia has ever had,,,,

[@xxking80537]

You know they are lying and clueless whenever they say “making sure”.

[@outbackwanker]

Here's an idea, sack all the Public Servants and especially Politicians!! WE WILL NOT COMPLY

[@johncervoni1115]

Rba and albo are a joke

[@ACDZ123]

Sell up? Ha ha you'll own nothing and be happy ..and you thought Klaus was joking

[@13infbatt]

You will own nothing and be happy

[@GhostWhoWalks14]

“You will own nothing and they will be happy” all going according to plan I see….

[@davidpearn4344]

Yep thats always been there plan just like there doing in the states and guess whoes buying Blackrock and Vangaurd surprise surprise 😵‍💫

[@tanyamiller6275]

Our gdp is only been propped up by immigration otherwise we would be in a recession

[@66pheonixpatrick76]

MR PM - I call you to ring on the election

[@letmeexplain1816]

Alboo, is looking very old and tired lately, I hope his conscience is pricking him at night so he can't sleep.

[@lornatodd4750]

Not conscience he's worried about losing power.

[@clydesimpson1462]

He's worried about his wedding, if he'll get stood up.

[@babayaga489]

Oh god I can’t stand this bollox!

[@dannypolsky1581]

Why we need so many migrants when economy is in bad shape ? This Labour Government has to go and Liberal has no answer either well only is One Nation capable to solve Our problem. Bring Pauline Hanson to the power and We will see how things goes !😊😊

[@g.c955]

Guess what, higher rate means higher mortgage, means higher rent. The businesses pass on the higher rent. 😅

[@phillipm764]

Well done Labor voters.

[@HuyVo-ok3nl]

Everytime Labour is in government the same things happen, they spend like no tomorrow and the country ends up in heavy debts. Actually there is new thing this time, that is they lie and they do not have any shame doing so.

[@user-wy4mp9ts3u]

I thought Scotty was bad but these guys are a joke a very long and protracted joke

[@wallnuts22]

That was really deceiving to use a photo of Jim chalmers next to a quote made by somebody else.

[@letmeexplain1816]

He's a real slimy snake🐍

[@brianlitson]

They getting all the statistics off the SimCity game on the PC 😂😂

[@actualfacts1055]

Albanese just gave Labor voting Federal public servants a 15 percent pay rise, isn't he generous with our tax payers money.

[@XxTheAwokenOnexX]

Sell up, as the Government need all the accomodations they can get to house refugee's 😂👍

[@briancoombe3533]

Charming. Delightful lady who is to be admired. Also, I wrote this as KZbin doesn't like free speech. Labor are amazing 😅😅😅

[@marcgg9760]

Yep ... keep on voting Labour folks. Countries have the government they deserve.

[@antpoo]

Govt “ follow our lead and sell up. Sell everything like we did”

[@manoffaithministry]

But banks like cba are still happy to give young people massive mortgages. The banjs need to be held to account.

[@peterleppanen3309]

Sell your home ??? To whom. If you sell you have to live somewhere, rent, you’re kidding, buy another house, you’re kidding as it does not fix the problem as you are back to square one. These so called experts have no idea about the problems in the real world.

[@debgold7690]

It's all good and well to advise us, the people, where the problem is, BUT how do we make the govt stop spending?

[@gam85191]

Maybe if government stopped spending like headless chooks, inflation would go down

[@rustic35]

Inflation - driven by government spending but blame on the people.

[@LordlyStatistic]

Danica is a stunner

[@GreatMij]

AlibiBo …. is busy lying

[@actualfacts1055]

Jim Chalmers missed that bit at school when they taught 2 plus 2 equals 4.

[@deant6627]

I still remember the look on Albos ex wife's face when the media did a brief interview once he became PM,, that look said it all of (WTF have you all done)

[@John-kv7jo]

Always put the Greens last and Labor second last when you vote.

[@AnitaSharma-oj3zq]

RBA Governor should have enough sense to talk like this! Why should we sell our homes?? Shame on the government or is the government run by big corporate agencies since most government departments have been privatised. Why are we voting these clowns into government???

[@shannon7002]

What! Sell the home? How does that help? Rental houses are in short supply and expensive. Not all the governments fault.

[@spencerdavey5525]

I'm so sick of hearing about mum's n dad's my wife and I can't get a house coz we dont have a kid but forget that politicians have lied since the beginning of time don't get rid of immigrants get rid of politicians

[@eurekaelephant2714]

Its all sides of politics. They are working for big corporates, not you or I. Anyone who lives in a financial bubble should not be allowed to hold a position of power. Wake up. Stop voting for both Labor and Liberal! Apathy will get us nowhere.

[@SleepyCaterpillar-kb3rk]

Prohibition on foreign ownership would cool prices

[@thomastji]

Higher interest rates hammering the landlords who would just pass it on to the tenants as there are pretty much not much rentals available.

[@petermarsh4993]

Swannie: Here’s a lesson in economics for you. The RBA has had to raise interest rates in an attempt to drop demand and inflation which your Government is largely responsible for. Your lot caused it and is the only force that could make a difference.

[@glenobrien727]

I'm ok with the RBA Governors comments as long as she sells her house and reduces her standard of living as well . Chances of that are zero as we all know , just simply total arrogance

[@SJ-wm8uk]

And the banks are making billions in profits and bonuses

[@jennyrose5307]

Labor, Liberal, there both the same. They have both taken us down this path of destruction. It’s been happening slowly over the last 20years. We need a whole new governing system. We have sold off most of our assets in that time. Both parties should be held accountable, both parties have taken us from the lucky country to the stupid country,

[@AussiePom]

Sell your home and then what for where are you going to live, the bus shelter at the end of the street perhaps because there's no where to rent.

[@Luum81]

Is the RBA governor ignorant of what is happening in Australia? We are already buying only the bare essentials, some buying less than that, dropping right down on quality of goods and services to the extent of wondering if we really can afford to go and see a doctor or call in the electrician/plumber, have already dipped into, and in some cases exhausted, savings. Many are working multiple jobs and/or longer hours and many have already had to sell their home or have been kicked out of rentals as they cannot afford the high rent prices. Wake up RBA and Labor! Between the two of you, you are pile driving this nation into the ground. Perhaps the RBA governor and board would like to sell their homes first? Maybe our politicians with investment houses could release them at low cost or drop the asking rent? Quit giving useless drivel that you think passes for advice and blaming the previous government. Deliver on your promises Labor or get out of office.

[@Oldncranky68]

I don't here to many Labor voters spooking to much lately.

[@KLM_ZA]

Can only blame labor voters for where we are! Hope you can now see that labor is bad for the country!

[@rebeccariley9916]

we need an emergency vote get Labour out

[@scottgreen5824]

Could it be that we are still paying off 18 billion for covid vaccines we absolutely needed and is absolutely totally safe ?

[@actualfacts1055]

Labor is running out of people to blame, how about themselves for a change.

[@rustic35]

If aussie mums and dads can't afford to have kids then this country is heading down the path of becoming someone other than Australia.

[@anthonycamacho6371]

Albo and the rest of his gang needs to go, they are a danger to the country.

[@Steve-kk8yb]

We're not cutting rates, we're not rescuing the over-leveraged (the gamblers), you lot have to pay the piper and learn some responsibility.

[@actualfacts1055]

They are helping us with our tax payers money, aren't they generous.

[@vocalninja5889]

Bad for everyone but her on a cool 1mill

[@irislau1526]

NZ suffered since 2018!

[@evildead9708]

"Sell up". Okay, and go where??

[@InfinityIsland2203]

I don't understand everyone screaming low rate. 4.35 bps interest rate is still low. How is anyone supposed to make profit from lending money? Unless money is printed by central bank. That old clown at 2:00 should never been given air time. He is throwing cheap shots politicizing exploiting peoples misery whos lack of financial education and discipline landed them where they are now.

[@pietro4772]

For starters, no more $40B per year to the pampered 3%

[@antonyomeara-bk9pm]

Screw Michelle, its effing horrid that someone on a mil a year tells the workers who make the economy happen should take the pain...its sick.

[@johntustin8183]

AND.........What are they still pushing on the "Idiot Box" ???? Showing million dollar homes,how much more you can make by renovating......and don't forget that MUST HAVE pool.....you will definately need that OVER EXPENSIVE car...........sucked in... TRUST NOONE...QUESTION EVERYTHING......

[@glennaleonhart]

Hmmm…. This whole story seems incomplete and misleading. Is this really the full story that inflation driven by Labor’s govt spending!?? Yes that’s one aspect but biggest inflation driver they’re not talking about are the Corporations significantly driving prices

[@wombat949]

Labor has to go.

[@whatscookinggoodlooking8641]

We produce everything here we should never have high cost of living

[@nigelbarry4048]

We are headed for a huge depression

[@theoriginalEmuman]

WEF oeratives, all of them!

[@sambakerman9406]

We need legislation to force Boomers to sell up. No one needs to own more than one family home at times like these. Where is government funded housing? if rental prices are equivalent or more than the average mortgage - you know there is a problem. We will own nothing and be happy....

[@lokai7914]

Who believes Albo? NO ONE.

[@garthphillips1]

Albo must stand in front of the mirror every day to be able to lie without breaking a sweat like he does!!!(((

[@GroperJoeandFriends]

You do know the tax payers and rate payers are the ones funding these rebates. My mum got the solar rebate and her electricity went up $200 and has not come back down and she is not the only one reporting this to me and its spending so when you spend money on food, bills, fuel, etc you can't cut spending can you 😂

[@dodgeboy9052]

Sell-up... who's buying .. ? High interest rates .. how did we manage in the 80s .. up to 16.5% and i have always been a one-income family .. !!

[@clydesimpson1462]

House prices were a lot lower then and more affordable. Manageable utility bills and cost of living was not really an issue.

[@dodgeboy9052]

@@clydesimpson1462 Dream on ... buying a home has never been easy without a leg-up with a Lottery win or parents helping out ..

[@honahwikeepa2115]

BideNomics. Abandon the US.

[@pieterwiffers3095]

Sack albo now

[@wyatthurts1729]

Albonobo would make a Kamala of himself debating/explaining his way out of this shit. How can all the western world have such poor leadership simultaneously

[@AussieDreamChaser]

Selected not Elected. It's all part of the globalist plan. Look at all the WEF connections to political powers throughout western nations. We will own nothing and be happy apparently. It's a totalitarian agenda thus the current war on free speech and the push for digital ID and programmable digital currency.