So Who Is Really Feeling The Pinch?

[@kaylenehousego8929]

A disaster indeed and ..........by design . Blessings and appreciation from Sydney .

[@vincentcacciola7161]

While the government has a big immigration policy rates will not come down because immigration does import inflation it's the only game in town

[@MrkBO8]

I think the students will have to complete their courses online instead of in Australia and then use their high quality degree's in their own countries. Our universities are selling an education right and not residency right??

[@gore1089]

In the 5 years before the pandemic we had 515,000 immigrants per year and 118,000 natural increase 640k every year, this has been going on for a long long time. Why was there no planning for enough housing for all these people.?

[@grizzz6884]

@@MrkBO8 it has all ways been , students renting investers house's , not education , that has always been able to do online

[@jakkooll]

People in Box Hill are the last ones needing help

[@innoccente1]

Lots of for Sale signs around my neighbourhood, mostly newly built units. No auctions but they are still selling relatively quick. Lots of foreign buyers and new families.

[@gore1089]

Where's your neighbourhood?

[@antpoo]

If 8 trillion worth of bonds need to be rolled over, how can interest rates go anywhere but up?

[@AUThePunisher]

Great Reset

[@wapphigh5250]

Atrocious fiscal responsibility from all tiers of government are the problem

[@Bobafe77a]

Thank you, Martin. I notice the banks have dropped their term deposit rates, punishing savers yet again and thereby widening the spread between lending and deposit rates which puts billions more into the banks pockets. We truly live in the age of greed. I agree that the call for lower interest rates is premature. Inflation is not under control. Lower interest rates will ensure that inflation continues at higher rates. Those baying for interest rates cuts fail to understand that this will only stike the fires of inflation.

[@theobradley5926]

Many thanks Mr North.

[@peterburke8650]

The people who are feeling the pinch is those that took the free money. Well it's not free any more.

[@MrkBO8]

Yeah seriously, cry me a river lol, buy over priced property when interest rates can only move in one direction, so what if rates went up earlier than they expected, its not like they were going to be low for the entire life of the loan. They were the ones who pumped that cash into the economy, they can pay the price.

[@chrimbus71]

What a generalisation 😂😂😂

[@relaxedmuffin3666]

Unfortunately I work for a living. I'm where the "free" money comes from.

[@doodlegassum6959]

First home buyer bait takers

[@grizzz6884]

@@relaxedmuffin3666 no , the free money comes from the banks righting loans , and these loans will never be repaid , which is their plan

[@cooki_boy]

excellent show Martin.....for those who think households are in trouble.....the commercial side is looking a LOT worse especially in the US....WTS!!!!

[@waynewalsh2008]

Exactly where they want us……

[@AUNZAnon]

Investor 'stress'?...pphhtt!💩🚽. Worlds smallest violin 🎻

[@mylimomelbourne4757]

Simply vote out the tourist Industry , realestate labour gov , stop immigration, bring down the overheated economy housing market and start looking after the people we have in the country …

[@CA999]

And "Education"...

[@gore1089]

Real Estate Labor gov? They are trying to fix the mess they inherited and have been in gov for 2 years. What did the LNP ever do in their time to fix housing? Except allow builders to erect garbage like the Opal Towers and then walk away with impunity to start a new company.

[@mimo5383]

Thanks Martin!

[@michaelbananas461]

The reality is that our housing market has been stretched to such a point that the next recession will collapse our entire banking system...and since the next recession in australia likely correlates with a global recession, given our position as a resource exporter, the IMF will have far greater battles to fight than rescuing our banks, especially since theyve given us warnings for 22 years about our housing market. Our only temporary solution is currently a population ponzi to help inflate the market so equity grows to where the collapse will at least help reduce bank losses when the foreclosures begin piling up. When this happens, it is likely australia and most other countries will completely devalue their currencies by helicoptering money to the moon, which will further help rescue house prices, though only in nominal terms. At this point, the aussie dollar will probably lose even more comparitive value than it already has and ensure inflation and our long term bonds skyrocket. The thing with such crashes and economic end games is they happen slowly at first, and then all at once....and because of the short term political and economic advantages of continuing short sighted policies like debt monetization and asset inflation, arguments against it are branded conspiratorial and cruel....until of course they are proven right all at once.. And by then, "i told you so" isnt considered fair play.... In any case, there is quite literally no way out. All luck has been taken for granted for australia, all fiscal and monetary tools exhausted and all positive trade related plays are in the rear view mirror. I dont even think the regular australian will learn from the eventual collapse. Everybody blames the "landlord" and "big business" when successive governments since the mid 90s are almost solely responsible and gladly scapogoat business and landlords to obfuscate their role in letting this all happen. Keating is lambasted as the worst treasurer ever for calling out asset price inflation and demanding, with great political consequences, the need for a recession...and we wonder why governments since have chosen the easier political route of avoiding recession at all costs to the detriment of asset price inflation and relative wage stagnation... So to summarize, we're screwed, we deserve it, and won't learn a damned thing.

[@HP66856]

Standing ovation 👏 👏👏👏👏👏👏👏👏👏👏👏👏👏👏👏👏👏👏 Couldn’t agree more.

[@iancormie9916]

Housing prices will not correct until Aus and Can stop or seriously reduce immigration. Speculation has been a problem in both countries (and presumably many others) with undeclared mortgages (financial obligations) with multiple banks being a problem. No matter which way the economy turns, housing is too expensive and prices must come down in the short term.

[@anthony.clarity]

Brent is about to hit $90. Copper price climbing. Silver climbing again. Inflation is about to start roaring its ugly face again. Interest rates in the US and AU are not going to be cut anytime soon.

[@doodlegassum6959]

Noted

[@chinoaussieleiro]

I don’t know who’s feeling the pinch, Martin. All i know is I went to Mollymook for the long weekend, and if the traffic is any indication of how people arw feeling about their finances, all seem to be well. Bumper to bumper traffic, people towing expensive caravans, boats, jet skis… For all the talki about cost of living pressures, it looks like there’s plenty of people doing well thank you very much. Whether they really have the money to spend or are financing these things with more debt, I don’t know. But I was baffled by what I saw. Nothing makes sense anymore.

[@lisakotsi2786]

Do we have actual figures of foreign buyers latest figures?

[@gore1089]

The Chinese economy is in a world of pain. Do they still allow their citizens to take money offshore?

[@HP66856]

@@gore1089 Spoke to a Chinese bloke recently, involved in some sort of property scam (he’s a parent at my kids’ school) and he was talking about the myriad of ways Chinese were getting their money out of China and into Australian property without the govt knowing. So it’s obviously still happening, just not on the record. They’re all tripping over each other to get cash out of China and into “safe investments” (Australian housing for Australians should never be referred to as an investment by citizens of another country).

[@gore1089]

@HP66856 I see people come into my bank in Sydney's Chinatown with bags full of money..??

[@redsed1565]

same ol.......could, may, if, I think, I believe, can, lets wait and see ! No one knows anything!

[@AUThePunisher]

Just got to know 2 couples mates having to share rooms with strangers. Average household income as renters. I am pretty sure that's the new trend.

[@dan2304]

Declining supplies of commodities due to both depletion of reserves and geopolitical issues this includes food and food production necessities. So why are costs going to decline. Inflarion will continue. Only serious recession will lower interest rates.

[@tearsinthesun799]

9.4 million Australians have less than $1000 dollars and 4.5 million have 0 dollars in the bank so I think there’s a huge gap between have and have nots 😢

[@tobiuslarone]

Where do those figures come from?

[@JackS-iy5uv]

The pinchee is feeling it not the pincher

[@karnereeves3460]

How about New Zealand??

[@hrausss]

Martin i have started hearing than intrest rates may go up in the USA. (Thats as long as there is no great collapse of something which is highly likely)

[@Chris-by8eh]

WOW on rental stress, Heard of the "bank of Mum & Dad". It will soon be the "family home WITH Mum & Dad:. Living with mum & dad. Paying board like when you were 18 years old.

[@kyliepechler]

Exactly.

[@Chris-by8eh]

awesome content !!!

[@williamcrossan9333]

This is a great title, and I really do wonder who is feeling the pinch? March car sales have been released. 13% higher for the first quarter of this year, compared to the ALREADY record vehicle sales for 2023. And the top 10 list? Basically expensive SUV's, utes, electric SUV (Model Y in 3rd position). I remember when the top 10 list had the Commodore, Falcon, Corolla, Mazda 3, Hyundai Excel etc. Not to mention house prices still rip roaring ahead. Bars, restaurants, Noosa, Goldie busy as hell.

[@kyliepechler]

What do you think the high immigration levels are for. All those new immigrants need to drive, live somewhere and eat.

[@btiger1281]

Sounds like the Tale of Two Cities. Interest rates in 1990 were 18 .1% on my loan Wages were a fraction of what i could get if i was in my job today, its all relative.

[@antpoo]

No it’s not relative. How many times does it have to be shown to you ppl. It’s between 5-10 times more expensive now depending o. Who you get the figures from.

[@mastermo5aic]

Professional Tiler with 30+ years experience and a father of 48years experience. High-end work coming out my ears for last 20 years. Let's say 150-200k a year misses full time nurse 100/110k year. We can't buy in Brisbane with lend amount of 550-650k + deposit for average 3 bed house 25km range around city

[@bencoad8492]

@@mastermo5aic if ur earning that too your in like the top 10% heh the median is around 50-60k :/

[@qwertyqwert2772]

im being pinched

[@jonwijaya8539]

I can confirm that Albo and Dutton don't feel the pinch.

[@markt5144]

No offence Martin but who cares about these numbers? The property market does not work on any macro-economic fundamentals. Even if we would see a higher number of forced sales due to financial stress, there would be more enough buyers to keep property prices increasing. The only thing that would get our politicians attention is dropping property prices and that will not happen so nothing to see here.

[@AUThePunisher]

You have no idea how economy / monetary system / banking system really works.

[@jetplane10]

Hello Martin 🫠

[@chmoss6310]

🇦🇺👍🙏