What Happens to The Great Australian Dream of Homeownership if the Housing Crisis Continues

[@willbellmortgagebroker]

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[@alland2888]

Great video mate. The politicians won't do anything to really fix the problem of first home affordability they will just come up with a way to make things worse while they try and make it look like they are helping.

[@tysonfinn1470]

If they bring out 50 yr loan terms. We re screwed. The people already in on the ponzi scheme might think they are gtg. But wait until retirement when your sitting on millions in equity on an average house and the gov forces you down to an overpriced 1 bedroom unit to fund your retirement.

[@mrmickking19]

Thanks for the video. I have deliberately voted informally in the last 3 federal elections because all parties ignore this issue. (I am a boomer who owns a home). The problem is house price inflation and unwillingness of politicians to identify house price inflation as a core problem. The soluitions they have put forward generally will make house price inflation worse. To tackle the problem politicians should be asked "do you see house price inflation as a problem. If so, how will you tackle it." That should prevent "solutions" that make the problem worse such as Albo saying at the last election we will make housing more affordable by increasing wages, or the liberals talking about easing lending criteria. Real solutions include tightening lending standards, not allowing extremely low interest rates, housing supply more than keeping up with demand (this includes much lower migration in the foreseeable future), maybe abolishing negative gearing and adjusting foreign investment.

[@willbellmortgagebroker]

Thanks for the comments. The ruling class are making the rules for the people they represent and that is not your average Australian. I'm am probably centre right however have not voted for Liberal the last 2 times just because all these guys are the same to me. It doesn't matter if it's Lib's or Labor in power. The average Australian will get the same results in my opinion.

[@peterforsyth962]

Mrmickking for Treasurer of Australia. I too am a boomer who won the Grubberment 'MONOPOLY Lottery' enabled by Negative Gearing & C.G.T incentives that clearly have created more problems than they've solved. Time for a reset and cut immigration back to 150000 until we have BUILT enough homes for those already HERE!!!!!🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘

[@CineTechGeek]

I would be fine with my property loosing 20-30% and staying that way for 20years as that's the only way to give my children a chance of a life like I had. To have own home. To be self sufficient. Unfortunately the greed is out of control. And it's not just greed. I have noticed as the polititions are acting obviously corruptly and set up systems to avoid responsibility it has given everyone the green light to also behave this way. In recent years I have had to go legal numerous times just to get companies to do their job. The policy these days is try to screw people and if they push back only then do you do the job properly. This is killing people, like what happened in robodept, but now it's the norm As that's what the polititions get away with. This corruption of society.. It happens from the head. The polititions. We need good independent politions that put country first. Transparency, accountability and enforcement. Those the the qualities that should decide your vote going forward or we are all F-ed.

[@thearchitect9737]

thank you for helping me understand the minefield as a layman Mr Bell

[@v_DICE_v]

A 50 year home loan is basically a subscription.

[@antpoo]

Yep

[@markitaywi8892]

Will you are right. Even dual income families cannot afford rent let alone a mortage. We became a nation of property owners and investors and a nation of perpetual renters at the mercy of landlords. The Australian dream is dead unless you have family wealth or very high income.

[@willbellmortgagebroker]

Thanks Mark!

[@Surfdays.australia]

Great video Will , it takes some balls to say it like it is in public like you are doing, people are starting to wake up to the corruption from the 2 major political parties here , you will be on the right side of history when all is said and done 🏠

[@willbellmortgagebroker]

thanks

[@ZaneTruscott]

Homes were once a utility that every average working Australian family could afford. But now they’re a wealth creation casino with millions being locked out of the casino. 🎰

[@peterforsyth962]

Thanks Will..the ripple effects are ALARMING!!!!!!!!😂😂😂😂😂😂😂😂😂😂

[@Keep_calm_and_slave_on]

I got no answers but I’m mad as hell!!! I’m a human being god dam it ! My life has value

[@rabidsminions2079]

Buy where you can afford, rent vest if you have to. Just check price data on high rise apartments before you buy to make sure you are not buying a unit that has not increased in in 5 or 10 years.

[@Peekaboo-Kitty]

Skyrocketing immigration has caused most of the problem. Listen to *Leithvo.*

[@chookie131]

I really love your videos Will. Please keep Them up

[@krolldavid]

Thanks for calling this out! I hope we can all do things to improve this. Everyone having a fair go is not being socialist it seems essential for a well functioning Democracy and strong country.

[@willbellmortgagebroker]

Cheers mate! I am confident it will turn around. How long it goes on for before it does I am not sure.

[@krolldavid]

@@willbellmortgagebroker that’s good to hear your optimism. I hope so too.

[@cpater5397]

I agree there is a real anger in younger people .. I feel utterly betrayed by this country.. if I knew what I knew now I wouldn’t have had kids ..

[@yobyob9369]

Its so heart breaking what we have let happen in Australia we got sold real estate wealth so here comes the consequences will be real and we lost more than what counts for a flurishing healthy society but fuck it we have investments not homes....the sub classis will pay dearly

[@willbellmortgagebroker]

I hear you. There is likely some point in the not too distant future where 50% of people over 65 either don't have a home or havent paid out their mortgage.

[@v_DICE_v]

Great video but volume a bit low.

[@willbellmortgagebroker]

Thanks for the comment, will try to work on it :)

[@Garden-offgrid]

How long do you think until 50 year mortgages start in Australia?

[@rabidsminions2079]

Not possible, a bank would only lend for the period until the retirement age for me. Say you get a loan at age 30 and the retirement age is 67, the max loan time will be 37 years.

[@Garden-offgrid]

@@rabidsminions2079 unless intergenerational mortgages become a thing?

[@willbellmortgagebroker]

I personally dont think it will happen however nothing would surprise me

[@vmura]

land cost + build cost. high labour cost and material cost.

[@dazgg9164]

Australia isnt the lucky country anymore. Unless you got a major deposit saved up your gunna get bent over repayment wise. My advice would be save as much as you can and only take out what you need from a bank for a loan

[@tysonfinn1470]

It's getting to the point where houses are going up more a yr than people can save

[@prancer4743]

Yes 100% 🙏🙏🙏🙏

[@v_DICE_v]

You forgot to mention the nearly doubling in size of the average house despite fewer people living in them.

[@willbellmortgagebroker]

It's a good point. There's a few things I didn't put in.

[@Perspari]

Nailed it

[@taniaschiller9823]

“Probably throw a fifth one in there, Immigration as well” What a terrible video from someone who’s apparently in the real estate industry. Your number 5 should be at the front of the list.

[@karlcotleanu486]

Leith Van Onselen, an economist keeps hammering the point on his YT channel about immigration as the most significant factor in this housing crisis.

[@naguoning]

Exactly. Right now that is the biggest driver of demand (the population would be basically stagnant without net immigration). "Probably" like I am "probably" not as rich as obese Gina Mineheart.

[@Ferwail]

The birth rate is below replacement…if there isn’t enough supply of houses, ITS OBVIOUSLY IMMIGRATION. (And investors)

[@Jake.steve3658]

Corrupt system. That trys to fix it self . claims...

[@mr_jdes]

Let’s see if bringing in 1.2 million migrants over 2 years will have a positive or negative effect on home ownership🤓 🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤪🤪🤪🤪🤪🤪

[@tysonfinn1470]

To keep a ponzi scheme going you need to continually recruit people. They are the new recruits. Along with young families trying to buy a home

[@Eric-kn4yn]

Racist.

[@Vegemite1963]

​@@Eric-kn4ynthe housing crisis is hurting all Australians of all heritages. Not racist to want to manage immigration for the benefit of all Australians of ALL races.

[@tysonfinn1470]

@@Vegemite1963 the npcs don't understand how the matrix works.

[@tonyhunter1903]

Imagine a world with a money that is engineered in a way that asset inflation was a thing of the past. It was created in 2009, and it’s called Bitcoin. Since the June quarter of 2019 to now, 5 years on, the median house price in Australia has dropped from 45BTC to 9BTC. Down 80%. Once the money changes, the world will change in a big way.

[@willbellmortgagebroker]

Whilst I'm a believer in BTC I still it's massively risky to ask young people to go all in on one asset for them to get a chance at the financial security they deserve. This is the world we live in.

[@peterforsyth962]

Respect to Will for giving a balanced commentary. We all suffer from declining FREEDOMS & Basic HUMAN RIGHTS that are evident in 'Social Unrest' and the subsequent decay in values & standards. Matt Barrie's podcast ' How Australia's Housing Market Became a NATIONAL CRISIS ' also gives a great explanation of how we arrived at this disastrous 'Housing' Ponzi accepted paradigm!!!! 🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘

[@ponzitizen]

My comment is under "Newest"...

[@claire6224]

This is not true Most property owners in their 50 are struggling paying their mortgage many are selling their investments property. They all struggled they not not wealthy if the money is in property they too can’t afford to put food on the table and paying highest cost of energy. Many businesses are struggling in the Melbourne CBD Restaurants are close open only from Thursday to Sunday mean the wealthy are suffering financially with high energy cost , High Interest and High taxes . These who really live comfortably wealthy retired in their 70 to 90 the rest still have to raise their families and run a struggle businesses . Believe me they don’t look wealthy they barely save for a little holiday with their children. They have birthday party only with their close families nothing lavish like in the 1980 to 2000 all gone you can invite 100 to 200 guests.