Why life in Australia has become Impossible

[@HindsightYT]

Go to www.expressvpn.com/hindsight to get 3 extra months of ExpressVPN FREE!

[@c.f.okonta8815]

Do a video on how living in UK 🇬🇧 is now impossible. They have similar problems as Canada

[@mylhouse0887]

the previous thumbnail was hilarious please go back

[@PetrBelohoubek-ot5ok]

LOL ever seen prices in Prag? :D :D :D :D

[@Ok-lu8gx]

ok

[@freymoon]

screw your long commercial on here

[@lesskinner8588]

It isn’t limited to Australia, and I’m truly beginning to consider that politicians worldwide are merely doing their masters bidding.

[@wafflingmean4477]

These crises are 100% intentional. Take any country with a housing crisis. Check how many of that country's politicians own property. Usually tells you everything you need to know. The poorer we get, the richer they get.

[@awakenotwoke1973]

Just considering? I've been convinced for nearly 2 decades.

[@rokasdobrovolskis]

Watch "Europa the last battle" 12h documentary and "The protocols of the learned elders of zion". All of our answers are there. It's been planned decades ago.

[@Tigerman303]

All by design.

[@snapduke]

If you know the Global Agenda 2030 we have all seen this coming for years . When you try to warn people they cry conspiracy until they wake up one day and its too late then.

[@carlito_148]

This is all over the Western World. This is all by design.

[@paulleckner8235]

Greed.

[@Ok-lu8gx]

ok

[@guru47pi]

It's great for people who already own and don't want to move; for everyone else, you're screwed. It's all based on the Western world's focus on home ownership as an investment first, instead of housing first that may be a good long term investment

[@yakubthescienceman2171]

Demographic engineering

[@TheSportsPROgram]

Exactly right .....

[@suntzuwarsword1964]

I was born here 61 years ago... Australia has turned into an over priced corporate shit hole..

[@andyhx]

As is every Western developed nation. All part of the globalist plan, which BT definition is truly global. All politicians are owned by the globalist corporations, be under no illusion about that. UK just followed many leftist US states in allowing "assisted dying" - coincidence? I think not.

[@PaxAlotin]

Overpriced Corporate Shit hole quickly becoming a Socialist Gulag.

[@eurekaelephant2714]

I agree. I tried to warn people that corporations were taking over and that we would end up like America with poverty and wealth inequality etc. Ive been talking about it for 15 years. Blind Aussies went on their merry way and fell off a cliff. Its not our fault, but sure was frustrating yelling it from the rooftops and people were alseep! At least they are a bit more awake now.

[@PaxAlotin]

@@eurekaelephant2714 Isn't it interesting - I posted that it's also turning into a socialist G-lag and it was deleted.

[@homeautomationlab1533]

Thanks man, not many people your age get that. Thank you.

[@BunnyWatson-k1w]

Same in Canada. Any young couple can forget home ownership.

[@njpme]

Same in the U.S to a degree

[@00_UU]

@@njpme exactly the same or worse in the US. I moved to my parent's basement and I have a STEM college degree and 15 years of career work experience.

[@JohnMcCowans]

Canada will become U.S.A., soon.

[@johnyo2153]

I’m 26 I bought my house when I was 21…. Was it hard? Yes it was! Very tight budget from a very young age but I was determined. The house is a 4x2 on 650sqm and is 35 minutes south of perth CBD Is it still possible today? Yes it is. Has the market gone up? Yes it has. Nothing is impossible if you work hard but save harder… things like Netflix Spotify subscriptions these are things that you really don’t need and I never had them until I bought a house.. people complain about the prices but then have 7 different subscriptions and say the rent is too high 🤡

[@00_UU]

@@johnyo2153 I have only KZbin Premium, which I really use and YT music just by itself is worth it. I renegotiate cell phone bills and calculate expenses, yet I cannot buy because my rent eats most of my income. Did you live with roommates or your parents until you bought your house? I lived on my own since I was 18, single biggest regret of my life.

[@JaneDoe-y3t]

I live in a small country town about an hour out of Adelaide. Recently, a group of nine houses went on the market, and I was fortunate enough to purchase one of them-it’s my first home. It was a real struggle to make it happen, but I was determined. However, I later discovered that six of the nine houses were bought by superannuation companies. This effectively robbed six potential first-home buyers of the opportunity to own a home. It’s been six months since those houses were purchased, and they’re still sitting empty. This means our small town has missed out on welcoming six families who could have contributed to the local community and economy. To make matters worse, there’s a massive demand for rentals in the area-people are crying out for places to live. It’s absolutely disgraceful, and I can’t believe this is allowed to happen.

[@mrsmerily]

that is exactly what I am talking about. And now you can see, if those houses even come to rental market... i think at least half of them are left standing empty to make prices go up even more or used if touristy place as airbb

[@PeonyandRoses]

What is WRONG with you people? Chinese are buying, you are complaining. Indians are buying you are complaining, superannuation companies are buying, again you’re doing the same thing.

[@annihilator_of_orks]

That‘s capitalism in its purest form. In Germany the state has been trying to intervene for years, i.e. passing laws which would freeze rents/setting a maximum rent for areas with housing shortage; it doesn‘t work either, housing is scarce and expensive and all those vows to boost public housing projects etc keep failing; the set goals of building at least 400 000 apartments a year has never been achieved, plus - illegal migration, refugees etc contribute to an additional pressure on the strained market. Seems like neither pure capitalism nor state intervention can actually solve the issue;

[@Swadaable]

​@@annihilator_of_orksNot capitalism at all, more like a piramid scheme but really it's a modern slavery.

[@MasterRoshi69]

​@@annihilator_of_orksin which situation has capitalism been allowed the freedom to meet market demands? Every developed country has so many laws and restrictions in place that materials are expensive, and just getting permission to build can take years or decades..

[@KobeToddirt]

Dear Australia, we have the same problem. signed Canada

[@davidbrayshaw3529]

At least you're pausing immigration, although that's probably too little, too late.

[@DaPickle-l4w]

yeah. its hard to live on land you stold isn't it??

[@dredknots]

Canada’s land like Australia’s was stolen. KARMA is bringing the immigrants in.

[@xerobeat9142]

@@DaPickle-l4w the cope, seethe and dilation station is down the hall and to the left

[@Dawnthensunset3839]

​​@@DaPickle-l4w which land did we steal? When did we steal land? What evidences do you have to claim we stole land?

[@gerryhouska2859]

You failed to mention most if not all of our politicians own multiple rental properties and have no interest in fixing the situation. Duopoly rules!

[@BartekSominski]

The same situation in Poland, plus political parties are funded by construction companies. When the real estate market stagnates, politicians think about some kind of government programs like funding loans that in theory help people to gain housing, while in true they lead to rise of prices and developers and banks being the main benefactors.

[@lancearn7332]

Fact Check - 2024 Australian figures. 227 MP's and Senators. - 79 politicians own no rental property. - 71 politicians own 1 rental property. - 77 politicians own 2 or more rental properties.

[@lazybaker1187]

Fact check - the stat doesn't include family trusts or company ownership. Politicians not having property in their name doesn't mean they don't have a vested interest in properties.

[@slangterm]

@@lancearn7332 fact check, use a calculator

[@lancearn7332]

@@EvieOAC .. as of today - 3 Dec 2024.. Mehreen Faruqi currently owns 2 x houses, 1 x parcel of land. (1 x house for investment rental) Jointly owned with her husband - 2 x investment properties. . . . source - Open Politics

[@MarcelPolman]

“Shortage of labor” Nah mate. People just don’t want to work an unlivable wage.

[@amandakeenan4722]

Shortage of labour is a lie for sure

[@mattquinn5183]

Right, so the so-called 'labour shortage' is actually neoliberal-speak for the actual 'wages shortage'.

[@bathgrub8751]

A problem that is not talked about is, foreign ownership of housing. You should have to reside in Australia (permanent resident or citizen of Aus) to own a home here.

[@xlynx9]

That is why this is a complex issue. There are _many_ things that increase demand, none of them predominate, but cumulatively they have a big impact. Policy in some of these areas could be tweaked, but each one is a hill you could die on without solving the overall problem. It always comes back to the supply side of the equation. Increasing supply can actually abate every single demand problem. While increasing supply has its own challenges, such the labor shortage, those challenges are not insurmountable, and it really does look like the quickest way to solve the issue.

[@Mary.Quantum426]

I would go one step further, and have immigrants build their own home, leaving existing homes for Australians to buy or rent, and it would also reduce real estate prices on existing homes (no foreigners to push up bidding) and provide jobs in the building industry.

[@NekoEspada]

Foreign investors are living rent free in your head. They make up 1% of property owners in Australia. Majority are owned by Australians.

[@stevemartin7464]

You may well have a point there. Really wealthy people are buying property all over the world and pushing average joes out of the market.

[@BebeBonet]

Try born here. You need to be BORN IN AUSTRALIA to own a home. Period.

[@RaveOnYourBack]

I left Australia 6 years ago, I left my home, my family, my friends, I moved to Italy because I was lucky enough to get citizenship by blood. And sadly, to this day I have never looked back. For the first time in my working life I got a permanent contract, not casual or short term I have only ever had over all my jobs. I earn less yes, but cost of living is not suffocating. For the first time in my life I have savings. I have my own home. I could never have had that unless I won the lotto.

[@alxnrodx]

It's crazy that your ancestors left Italy for better oppurtunities and now you have to return for the same reason. Something similar happened in my family where my spanish grandparents retured from Mexico due to similar circumstances.

[@Zoetherat]

Funny thing is, i hear that young Italians are leaving Italy for the same exact reason.

[@RaveOnYourBack]

@@Zoetherat and you are completely right, I am not saying Italy is perfect, because it really is not. But when I talk to my cousin's and co-workers, the culture of young Italian espatriare has severely decreased over the years, and some even claim (source unverified) that more young Italians are coming back.

[@RaveOnYourBack]

Look, in the end of the day, I am not saying to leave Australia or your country, I did and it somehow luckily worked for me. I am happier here then I have been in Australia for a long time. And yes many Italians are surprised to here I come from Australia, many of them ask why I left, don't I earn more money ECT. I have always said the same thing, Australia is beautiful, and I love Australia, I love the Outback, I love the people. Yes I earn more money, yes things are more expensive, but in the end of the day, I am happy here, and that is all that matters to me.

[@lootus]

@@RaveOnYourBack Italy is beautiful in comparison to other European countries

[@janetbransdon3742]

When I was a kid in Australia, a person on one wage was able to pay off a house, live comfortably and take the family on holidays. Now it takes at least 2 wages and most times that is not enough. So wrong .

[@hoilst265]

One of the other things that's not talked about, that I think is a problem, is that there's pretty much no other way for any to get wealthy any more other than property. There's few jobs where you can make enough to put aside, unless you've already got connections, generational wealth, or luck into some extreme well-paying job. Gone are the factory jobs, the well-paying unionised jobs in a lot of industries, gone are a lot of industries full stop. So, no, don't expect to just work and be comfortable and put money away. The only way for the average cobber to get ahead is to...own property.

[@lynettefinnigan9540]

​@@hoilst265I worked fulltime, bought crappy old homes, after work and all weekend, I'd paint, clean up, fix, do the garden, living in the filth until it was finished, then sell it and sink the profit into the next house and do it again.... had old second hand car, furniture, no holidays, etc.... nowadays, people expect to move into a 4 bedroom house in heart of the city, new furniture, new car, fake nails, eyelashes, holidays in Bali.... and wonder why they can't do it.....

[@돌돌돌-t6y]

Same here in Korea

[@FlowDeFlowDrainage]

Your banking system is the reason. Think of it this way, I have seen the British pound fall to less than 1% of its value in my lifetime. In 1970 one ounce of gold was £17.50 now it is £2200. Gold hasn't change but what you can buy with a pound has. A bag of chips was sixpence (£0.02.5p) in decimal money, now it is £3.00. or 1200% more. No secret, it is all controlled through the banking system. The mechanism is similar to the so called "Great Depression" which was just a banker controlled deflation. The goal is to collapse all currencies and eliminate cash. Cash is the only form of payment legally owned by the bearer. Bank credit, bank cards and your bank balance are the property of the bank. That is why they can lend bank deposits without breaking the law.

[@D0JES]

Currently my parents are having that problem on the buying in the early 2010's (we are low median income family due to health issues with my mother and father being a teacher)

[@actuallyhonestly]

When I found out Americans pay rent monthly the same price I pay weekly made me realized how terrible its gotten.

[@economy-x9w]

🇦🇺Yes, that's right, girl. Are you in Australia or America? To plant a rose garden for you 🌹And a small tree is enough for you ❤🇹🇷Your love kept me up at night ❤Are you married ❤

[@nexus-vt1lx]

@@economy-x9wwtf are u talking about u little abortion

[@chookvalve]

Australia is actually rich but the gap between home owners and renters is insurmountable. Australia has incompetent second rate politicians.

[@TheCrusher112]

Because we have shit like Murdoch and to a lesser extent Clive Palmer making sure anyone who can actually change anything doesn’t get a look in. Status quo with different heads.

[@RealLukee]

It aint the politicians fault people don't invest in themselves so they can increase the average wage of their household.... its just lazy victim mentality

[@happinin]

most australians are actually poor and rely on centrelink. which is not even enough to live on now. Only the rich are rich. The rest of us are getting ripped off.

[@chookvalve]

@@apessimist7295 countries that have very limited resources. Australia has immense resources. Australia’s limits are its self serving (or maybe UN )serving politicians. That combined with the lack of expertise in the required areas they govern and incompetence generally wrecks our potential. Some pollies just straight out lie. They couldn’t lie straight in bed.

[@halfwitt464]

Banning kids from social mefia was apparently important lol

[@ronaldsimmons9517]

George Carlin said it best: "Do you know why they call it a dream? Because you have to be asleep to believe it."

[@qewbick2024]

That s the best expression I came across this whole year 2024

[@adamwest1138]

I miss George. He was a cynical old bastard that was dead on with his observations

[@Huntbarternsteal]

Everyone's been programmed to want to buy a house and work til there almost 70 to pay it off and only relax when you're to old to work fulltime. Like a good worker ant

[@RyanAstuto]

Follow Jesus and the bible everyone. This is all part of prophecy anyway. Oh and “you’ll own nothing and be happy” wasn’t a joke. But most people don’t pay attention to either the bible or the people in control of the world. They only start to care when things like this happen.

[@smokvicaberber8361]

@@ronaldsimmons9517 so true.

[@Kingslayer_au]

You said that the australian housing dream was dying, its not dying. Its dead.

[@rennmaxbeta]

Absolutely true

[@Melfukoff]

💯

[@AndyViant]

Wah wah wah says those who don't understand economics, sacrifice or hard work.

[@RogueCowTurd]

@@AndyViant whats hard to understand about median housing going from 3-4x the median wage to 10-12?.

[@AndyViant]

​@@RogueCowTurd exactly when was housing only 3-4x the median wage? I'd lover to see some evidence of that, because I don't recall it happening in my lifetime. Magically plucking a number from an orifice doesn't make it statistically accurate data. However, if said housing was ever 3-4x median wages (it wasn't) and you chose not to buy then you'd have met my criteria of "those who don't understand economics" and that would clearly be a YOU problem.

[@bigchief2331]

It's miserable is what it is. I am 32 and had a gutful of Australia and it saddens me to see how far it has fallen. I feel completely numb, lost and alone in the world today and don't see things ever getting better.

[@XN7Skys]

Stay in Moroco..or Indonesia

[@kieren7763]

As a 32 year old Australian im seriously thinking of moving overseas for the first time in my life and I've never left Australia

[@Rhuzzy_]

I'm 19 and already considered it when I was having a chat with my dad about it the past few days when I drove to the gold coast to see him cost of living is just insane right now (yes I know I'm only 19 but doesn't make it any different on how bad it is right now).

[@pitzi1989]

its the same everywhere, dont even bother

[@kalindichan]

youll be moving from austrailia to austrailia.

[@Nswix]

Go to Asia. I pay $1k for a really nice place in Phnom Penh. And that's expensive. I could probably pay a lot less...

[@aminemaam5019]

Same every where

[@luishernandezblonde]

I feel like this is not limited to Australia and Canada. Even South Korea, Italy, China, Spain, Belgium, the UK, Portugal, Taiwan, Sweden, Hong Kong, Singapore, the US, Chile, Greece, Argentina and Turkey are facing a similar crisis about housing. And it is risking to turn worse. Something has to be done.

[@captainplanet1260]

Boomers, that's why this is happening

[@DazedandInsane]

It's a globalism and runaway capitalism issue. Checks and balances have broken down

[@maderastuff]

Don't worry. Blackrock is going to buy 40% of single family homes in the US and help! 😂 same solution will work for everyone else

[@Johnny-Michael]

ahhh gotta love capitalism

[@Johnny-Michael]

@@DazedandInsane This is the real reason^^

[@davidsullivan8236]

This is so sad Australia was always a great place to live but it has been destroyed by greed and corruption

[@anzacman5]

By the dew, sorry I meant few.

[@113msaunders]

And politicians especially!

[@dayforit1750]

You spelt immigration wrong.

[@huh5068]

​@@dayforit1750 you must be dumb then

[@EmeraldHill-vo1cs]

Gonna start seeing people going bush to find a place. Meanwhile the gov is trying to kick people off the pensions.

[@megstag8852]

It sucks to live in Australia now.. pay rates havent increased but houses, rent, groceries, petrol, cars, clothing and literally everything else has increased about 200% in the past 12 months.. we cant afford anything anymore.. the homelessness is worse than ever before, crime and drug use has sky-rocketed.. and government just keep patting themselves on the back they're the only ones getting payrises and affording a home.

[@PineappleStickers]

In 1997 my parents sold our first house for about $108k. That very same house is currently listed again in 2024, but for $1.1m. I am never going to afford a house

[@Candy_labra1111]

Nuts

[@WeigleCorreia]

In Brazil is the same pace! The houses in all word just with prices to the moon

[@windhammer1237]

That's insane!

[@codymartindale4340]

So all the older people are lieng, why would they lie and complain. Most people are saying this, rent is now half the average salary it was never like that before. My older relatives are all saying the same thing about prices , they are not lieng about rent prices , you are just ignorant to the prices now.​@@brucegonsalves7348

[@jaydenkensen6805]

@@brucegonsalves7348Not everyone is rich. Economy is designed to keep the poor working and only a few rich. But who wants to spend their whole pay check on bills and a mortgage or if ur renting someone elses mortgage for 30 years. Easy times make hard times hard times make easy time, and we’re in a hard time now. And sure we’re not living in a very poor country with no food but that’s because the military come in and take all the food and supplies to fight their wars that never end.

[@AnnikaVictoria24]

It’s so bad. My husband has a well-paying full time job at a university and we were priced out of the Sydney rental market, and we have to live with my parents who thankfully own their own home. We won’t ever be able to afford our own home without significant family assistance, and probably not even then. We both come from pretty well-off families (both have 2 parents who are still married, who worked their whole lives, home owners).

[@loft27ss]

Australian here, education is the key. Dave Ramsey “ total money makeover “, Vikki Robin “ your money or your life”- changed our life❤

[@StuTheDon17]

Have you considered taking your skills and experience from the workforce to a less populated area in Australia? There's 100's of small towns that you could move to that would love to have you and your husband. Not to mention, property in these small towns is far more affordable.

[@tsepheletseka5115]

​@@StuTheDon17You're absolutely right. Big cities are by nature expensive. It's like that everywhere, even in developing countries. The problem is many people leave small towns and rural areas for big cities because of the misconception that there are more opportunities there, only to struggle because of the high cost of living in big cities. Even with a good well paying job, it's still tough to make ends meet in the big city. I currently live in a small rural village in Lesotho where I am renting at the moment but I've already started saving up to build my own house with the teaching job I just started, something I'm sure I would have struggled to do or would take me much longer to do if I lived in a big city.

[@Beehive66]

In a way you are lucky. When the market turns bad these people with big mortgages will be left holding a bag of poop.

[@injanhoi1]

I read somewhere Australian are paying up to 72 percent of their monthly salary on rent. How do people get ahead?

[@BoxyAnime]

Australian here. I’m honestly terrified of the prices of housing right now so I can just imagine by the time I need a house it’s gonna be cheaper just to live in a different country.

[@danieljensen6154]

It’s always been cheaper to live in another country, you are giving up lots of things for it though

[@JonesJoeson]

It already is unless youre looking at a major city like London or LA

[@Ennryuo]

​@@JonesJoesonLondon right now is the land of disaster

[@fabgeb667]

so maybe you need more refugees? this is what the leftists will tell you. for al problems: more poverty immigration.

[@mackenzieeagle2674]

Hold the fort… what goes up must come down. Just keep your head down and save every penny. Before you know it something will pop up🙂

[@billy.b652]

I emigrated to Australia in the 80s, and decided to to return to Scotland, and truthfully, the only thing I miss is the sun, and mostly the beaches. Since returning, I’ve seen Scotland sinking, similar to Australia, and does not seem to be getting any better. You’ll stand a much better chance for survival, if you’re an immigrant coming off a boat at Kent, being comfortable in a hotel , and fed every day. I honestly don’t see things getting any better, and I am so saddened to hear Australia slumping as bad as it is. PS, At least you have all that lovely sunshine, to our cold and damp environment, and huge heating bills.Anyway, all the best for 2025. Billy from Glasgow.👍🏴󠁧󠁢󠁳󠁣󠁴󠁿🏴󠁧󠁢󠁳󠁣󠁴󠁿🏴󠁧󠁢󠁳󠁣󠁴󠁿🏴󠁧󠁢󠁳󠁣󠁴󠁿

[@jonantonacci9323]

When the banks decided to trick people into thinking that houses should be used for ‘wealth generation’ housing was no longer a basic human right. And now we have this current situation. It certainly has generated wealth for the banks and real estate agents. It’s obscene.

[@clray123]

It is all paper wealth. If all the house owners decided to sell and purchase anything else, not only the prices of houses would plummet, but huge inflation would be caused elsewhere. The simple reality is so much money was printed and illicitly redistributed during the great corona theft that it no longer corresponds to the amount of actual goods and services available in the economy, so it needs to be stashed away "somewhere", be it real estate or assets such as stocks.

[@None-y2f]

Immigration did this. Without increasing demand house prices wouldn't be increasing so quickly.

[@Samantha-tv4dz]

literally what was said in the video.. but ok.

[@kirkbryson3120]

Exactly.

[@sonnynguyen9907]

How we people as the critical element in this whole conspiracy can unite and change for better, fairer system?!

[@chrisbooy]

I work 3 jobs.... I am in the top 10% of income earners in Australia.... and Ive never been further away from home ownership in my area. I smoke the combined earnings of my parents. My parents lived the dream. I live the nightmare.

[@KobeToddirt]

Imagine being in the top 10%, paying taxes like crazy to pay for pension funds and health care for those who already had it all (boomers ... cough cough)

[@happychappylife4283]

Hiw much debt are you carrying? Where are you looking to buy a home. Live in the cheapest rental you can find to save your deposit it can still be done.

[@besovereign2032]

what area? Sydney?

[@besovereign2032]

​@@happychappylife4283imagine having to put down a 200K deposit. For what? Is any country worth that?

[@xchazz86]

Earning just 100k in Sydney means you’re a rent slave or homeless. You need at least 300k to legitimately enter the housing market. The government engineered housing ponzi is what’s destroying the nation and lowering the quality of life.

[@Deano00777]

We literally have people in good jobs who are living in tents and cars. It’s a disgrace

[@bobdebouwer7835]

Sad reality is that many of those struggling people would be exploiting others if they had the chance.

[@Deano00777]

@ but the difference is, they’re not.

[@bobdebouwer7835]

@@Deano00777 not yet. Today's boomers were idealist protestors back in the day. Now they sold their soul to corporations

[@JT-dk9eo]

Yes , because thet were stupid with thier money,

[@chrimbus71]

@@JT-dk9eo speaking of stupid

[@German-Hydroponics]

Same problem in Germany 🇩🇪 It once was passible to buy a nice little farm with 10.000 sqare meter property for around 150k (if lucky) to around 300k. Now it starts around 350k And for the same standard we were looking for it is around 750k to over a million. Fkn dream shattering Crazy world!

[@jani0077]

Overregulation of construction is the culprit. Try to get a permit in a developed country for a house with almost no fees or in short time - impossible. I live in Slovakia and a full permit for a 150 square m house cannot be achieved under a year. Impossible. Compared to that my parents built our home 40 years ago in less than half a year. Costs are high because it got too complicated to even get to construction, not to finish it.

[@German-Hydroponics]

@jani0077 Word! And sooooo many (useless) people are eating away at my paycheck, while this unfolds on countless sheets of wasted paper.

[@samtannouri3665]

300k wouldn’t even buy a car spot in Sydney 😂😂😂

[@randomperson5817]

“Do not store up for yourselves treasures on earth, where moth and rust destroy, and where thieves break in and steal. But store up for yourselves treasures in heaven, where neither moth nor rust destroys, and where thieves do not break in or steal; for where your treasure is, there your heart will be also.” Matthew 6:19-6:20

[@German-Hydroponics]

@@randomperson5817 Amen. But it seems not to be as ez as it is to write these words. Crazy, that he comes through on this post.

[@tizodd6]

It's been my belief, for a long time, that people/companies should *NOT* be able to use residential property as an investment. If you own residential property, you should have to live there. Property as an investment, is a *HUGE* reason for the current insane rent and mortgage costs.

[@planescaped]

This. The massive unregulated real estate investment boom is the sole cause for this. I wouldn't go so far as to forbid it, but I would put hard restrictions and limits on it. Good luck ever fixing this problem though with how bad it has become, and considering that literal multi trillion-dollar companies get a sizeable portion of their income from gaming the real estate system. I don't think Blackrock are gonna let anyone pass a bill putting a stop to the money train. And we all suffer, and will continue to suffer until the system collapses. Because that's just how modern society functions.

[@goaway9977]

There is really no issue with investment properties so long as they are actually rented out and not left vacant. In your scenario there would be zero rental properties on the market. Of course home ownership is ideal, but a rental market is necessary. Some people don't want to live with family until they are ready to take on a mortgage. Some people don't want to live in student accomodation when they travel to another city to study. Some people move to another city to work for two or three years with no intention of staying long term and don't want to have to enter the property market there. Some people get divorced, or are even fleeing a domestically violent situation, and need to find a rental property quickly that is still close to their job or their children's school. The issue has never been property as an investment. The problem is how good an investment it is, which is largely driven by the underlying economic factors of demand outpacing supply for decades at this point. Limiting investment in houses may help some people get into the housing market by reducing the competition at auction, but it does nothing the alleviate the real issue which is the number of people verse the number of houses. In fact it will work to decrease the supply of new houses as developers will have a smaller pool of people to sell their new builds to and thus building will be a less profitable enterprise compared to other options for investors to put their money into. The only sollution to this problem is increasing supply, reducing demand, or both.

[@davidvanderklauw]

Nonsense. If there was no artificial shortage then any investment would raise total supply of shelter and would cause LOWER rents. Bark up the right tree please.

[@tizodd6]

@@goaway9977 The issue, unfortunately, is greed. A home should be a basic necessity. The roof over your head shouldn't be connected to a wealthy person's bottom line.

[@Strikerklm96]

You aren't thinking about the implications of such laws. What if you want to move but no one is willing to buy your house? Investors help keep markets stable: prices go too high? they sell, go too low? they buy. only being able to buy 1 thing would create massive economic shocks anytime other markets sneezed. If all the investors got out of the housing market you'd still have a housing crisis. It's a matter of number of people vs number of housing units. Investors exist in every single market, most of which have no supply issues. He gives the answer at the end. Economists have figured it out. He gives the answer at the end. Economists have figured it out. The solution is to build, which governments can do directly or incentivize/subsidize.

[@krisalasky6897]

I am a 71 year old Australian woman. My husband and I had to sell our house due to the high interest rates. so we rented but could not afford rent anymore as we are on pension so we left the country and moved to THailand. This was the best thing we ever did.

[@lornawilliams-astley2716]

Australia's still one of the best places in the world to live.

[@cfilorvyls457]

​@@lornawilliams-astley2716uh, no. Never was even

[@jjbell150]

Shouldn't get a pension if you leave the country, it's a handout not a right

[@fabiogasperini5868]

According to what standard?​@@lornawilliams-astley2716

[@kevwills858]

My friend and his wife did that 10 years ago and are happy .... while I'm still stuck here in Shitsville at 60 and feeling sadness for my 7 grandchildren ..

[@bezissj]

Nothing will going to change unless we stop treat houses like an investment.

[@gbitencourt]

Then gov will have to stop printing money (m2 aggregate) or we will have to find a global stable coin that substitutes it

[@seandaly3983]

Aussies are just a nation of bread and circus - beer and footy.. easy to buy and bribe. This is the outcome of laziness, not keeping your politicians accountable. Only have yourselves to blame

[@BernhardSchwarz-xs8kp]

What else is a house? Yes - it is an object - that like animals - needs to be fed. Investing in a house is beginning of a life long struggle to keep the house in order and defend it against those who want to invade it.

[@spark300c]

it just not that. They many things and they not sprawling out into semi-arid part of country. Australia is post industrial society. in industrial society factories are build where land is cheap. also Austrian high immigrant, low fertility rate distorts the political capital for relaxing zone for more density for the urban core. It import that treating houses like an investment relies heavy on immigration. with low fertility as population drop house being to lose value as demand drops. So with NIMB are no really no immigrants in my back yard. Homogenrous population are more willing to build density housing because they know it going to their ethnic group. The NIIMB know ethnic boarders are going to change when more density housing is built.

[@pauljansen6650]

A house is an investment and that won't change. What should change is that corporates or companies cannot own residential homes that they rent out, it should only be allowed to house employees like in mining towns for e.g.

[@banditotorches9531]

I’m 22 years old and was crying to my parents the other day because I truly believe I will not be able to afford a house until I am 45. I feel like the only thing that may change this is starting to live frugal or hope that I gain a large inheritance (which is not really a good thing because that will come with grief). In addition, even though I am working part time in a high paying job (that also gets taxed highly) and I am 1 year away from graduating in a degree that will pay very well and is in demand so I will not struggle to get a job - I would not move out. Even though I could afford to rent, I feel as if simply would not survive when I eventually run out of money due to demand of studying for a hard degree/low paying income first 2 years post graduation and feel like it’s a waste if I will inevitably run out of money and waste it all renting when I could be saving it to buy a house and eventually pay off my student debt (HECS). All things considered, I am very fortunate my parents told me they are willing to house me for as long as they want without charging me.

[@bregjejabra25]

Research and get into Bitcoin. HODL Bitcoin.

[@InvestmentJoy]

I'm always surprised at how expensive it is to build a house outside of the Midwest here in the United States I can still to this day and age build a house for around $100,000. Land costs are whatever they are, but infrastructure costs that are often mandated can cause the price to absolutely explode. A house in California is no nicer than a house in Nebraska. Meanwhile it may cost four times more to get the permits

[@joeg9478]

True, but the house in California may double or triple in value over time…..while the house in Nebraska will barely budge in value. I speak from experience, I live in Southern California and own my home.

[@theaccountant5846]

@joeg9478 I cant believe investment joy, the king of laundromat investments, is comparing real estate investments in Nebraska to california 😂😂😂

[@davidmurray6176]

​@joeg9478 blah blah blah, I'd rather live in the midwest. It's much safer than any town in California. Land in in California is not better ,in fact it's garbage.

[@brianfl33916]

Building a house is also what people are willing to pay so builders will just raise prices. I live in a very nice part of Florida. It will cost me around $700k to build a 2,500 sq ft house on land I own. If I owned identical land 2 hours away I can have the exact same 2,500 sq ft house built for $300k. They are all using cheap immigrant labor to do it. The builders where live make bank.

[@thanosianthemadtitanic]

​@@joeg9478 thats not a justification for California corruption

[@BryanM63]

Australia also allows overseas investors to buy into our housing market. Taking advantage of our tax laws to set up portfolios of house investments that are then rented back to needy Australians. Those houses then become lost to Australia

[@eleonoreliebe3331]

We have lost to much already in the eighths when we privatised everything that really stuffed our country up.

[@eleonoreliebe3331]

No we have not a shortage of Labor it's all bull shit we have so many young people looking for apprinterchips and to many trades out of work.

[@Mmm-y5w8o]

The Chinese never rent then they like to keep them new tenants devalue the property

[@TasmaniaIsAHole]

​@@eleonoreliebe3331 There's a shortage of trade jobs rather than a shortage of willing applicants. Every apprenticeship I've applied for gets dozens if not hundreds of applications.

[@LucyKelly-jh5is]

This should be undone, by law! Australians deserve fair treatment! We didn't elect, consent to, or pay, for bad government!

[@jonathanstewart8106]

Its by design. A population of renters is what corporations and politicians want.

[@JerryShunk-h8s]

Just like the car leasing scam !

[@mrmcface713]

I'm not trying to be rude, I'm just genuinely curious. Why do they/would they want that?

[@jimmy__371]

@@mrmcface713 back to fuedalism

[@arnoldvankampen3672]

@@mrmcface713 The world is about to change in very fundamental ways. To lubricate these transitions a malleable population is needed. A people whose very existence is hanging by a thread has no energy to resist or rebel against anything. Since targets and goals are global, so are the crises.

[@mrmcface713]

@@arnoldvankampen3672 What are some of these transitions?

[@dabin88]

New Zealand has the same issue. The problem is high levels of immigration, property speculation by real estate agents and investors, and lack of supply. The reason nothing has been done about it because politicians in government have benefited for years with this system their donations and property portfolio has grown at the expensive of public.

[@emmaroldan2127]

Wtf dude there are 3400 cupons of imigrant per year how inmigrants are the problem?

[@misterwhyte]

I used to be a real estate photographer in Melbourne. 90% of my clients were wealthy Chinese landlords. They buy EVERYTHING. Some real estate agencies in the Melbourne CBD only speak Chinese, and all of them have at least one Chinese speaking agent. Most new buildings being constructed don't have the number 4 in them because it represents bad luck in China (floors go from 3 to 5 in number, skipping 4, same for apartments). To me the problem is obvious. With 1.5 billion Chinese and an economy that has been booming there for decades now, rich Chinese people outnumber the entirety of the Australian population. A fraction of them buying in Oz is enough to destroy the entire market for every day Aussies. If the Oz government made foreign ownership illegal, the problem would fix itself overnight. They won't have the guts though, given how they've been selling out the country for decades now.

[@TheCornerOfJames]

^ Up to you man, I had a lovely old chinese bird tell me that her family had not 1, not 2 but 4 investment properties in PRIME locations in Melbourne and Geelong. It is obvious what needs to be done. Just spineless politicians.

[@TCJones]

Yep foreign owner ship needs to be stopped, or just end up like London, where the homes are all empty and 25 mil quid, London is now so over priced, they have started buying up Manchester...

[@Superkoolaid857]

The government has done stuff to address this, increasing taxes on foreign house ownership but im not sure if thats enough

[@TCJones]

@Superkoolaid857 putting up taxs does nothing, it's just a cost of doing biz to the rich that they can side step for alittle bit more cash. Out right ban on no resident foreign born owners is what is needed and the same on rental companies as all that will happen is the homes will be moved into a company and not owned by the individual.

[@Superkoolaid857]

@ I understand what you’re saying but do you really think it’s possible? I mean those foreign business owners would surely pay for take down adds in the media and get it revoked, this is the problem with australia and then world honestly. Queensland has a minerals tax, the minerals council funds the opposition, opposition wins and the minerals tax is gone. It just feels like a losing battle you know

[@gopherET]

Greed is real. Rich people get richer and poor people get poorer.

[@guridosul2323]

o que os ricos tem culpa nisso?

[@trex4509]

@@guridosul2323 The problem is people here in Australia are not willing to save hard , they want all the toys but not the inconvenience of doing without .

[@guridosul2323]

@@trex4509 ganancia do próprio povo

[@trex4509]

@@guridosul2323 Yes, well said , here in Australia we have good wages ,good working conditions but as a nation poor savers .

[@BernhardSchwarz-xs8kp]

We humans are a wicked lot. It is in our DNA to want everything for nothing in exchange.

[@benmcreynolds8581]

I wish everyone would stop talking like "this is something that could be happening in the near future" it is happening RIGHT NOW we already have a two tier society (no matter what they build, if they don't change how much things cost, it wouldn't benefit anything) it's a shame that this has been allowed to occur in multiple different nations. They need to start treating this unaffordable housing crisis like it is the biggest issue that we are dealing with right now. Everything stems from this. If people don't have a place to call home then how can anything else get done?

[@r.c.8268]

then the elite complains that we are not having enough childrens and for that they have to import migrants, but those migrants cant produce or consume at the same level as the native populations, making the anual revenue of the 500 corporations slow down

[@planescaped]

I guess when we have a global tidal wave of homeless 40 year olds in the semi-near future they won't be able to ignore it anymore. Until then, _sticks head in sand_

[@butyoualreadyknewthat..1143]

@benmcreynolds8581 they don't care mate,simple. You and I are on our own and if people want to fool them self let them, the programming and social conforming runs deep with alot of people,alot.

[@sunshinesagelavenderrosemary]

christMass immigration 2006 Thailand tidal wave was the warning shot to Australia island's about gdp economies require mega project dam port rail upgrades cabin park and legislated low income tax payer discount card to compete with international student cia*china india africa austudy pensioners using sc student senior discount card tax exempt and legislating tax fraud charity business not for your profit margins Intergenerational migrant welfare cent re kick should be replaced with national income card and national low income discount card at university dormitory room 911nato and 2001 gst america university employment is inflation

[@sethkeefer3456]

The Creature From Jekyll Island

[@happykt]

I just retired as a City Planner in Austin, TX and the lack of affordable housing is a world wide problem. Its not only caused by the wealthy buying up residential properties but the inability to build housing beyond two stories because of terrible zoning and residential buildings codes. In the US, Canada, Ireland and many other countries, single family land owners come out and protest against building multifamily structures, including but not limited to ADUs, duplexes, quadraplexes, and apartment buildings. I just came back from Ireland and rarely saw an apartment building anywhere and much of the land in Ireland consists of small farms.

[@paulbrzeski4237]

Life for renters has been garbage in Australia for a long time. Despite renting being the primary way of life for many people - the laws and rights for renters are akin to it being a temporary situation that isn't meant to last very long. You have no stability, no protections and no rights to privacy and dignity. It's absolutely revolting.

[@protectusplease9833]

Property Managers’ treat renters like their criminals too, here in WA they go through a property with a white glove - I’d really like to see what Property Managers’ houses are like & rate them on their tidiness. There needs to be a change in attitude, renter’s need to be treated with respect and valued.

[@Peekaboo-Kitty]

All done deliberately. All part of the New World Order where only 2 Classes will exist --> Elites and Slaves.

[@goldymotors9266]

@@protectusplease9833 Quite often renters treat properties like they are not their own too. It's a two way street.

[@davinasquirrel7672]

I hated the 6-monthly inspections. Given I had 'perfect' care of the property, rent paid on time, I asked if it could be an annual inspection. Nope! It really does not feel like a home.

[@goldymotors9266]

@@davinasquirrel7672 That's mainly because for every good renter that looks after the place there is at least one that won't.

[@velisvideos6208]

It's happening almost everywhere to some extent. Young people are getting suckered, while the wealthy get wealthier and the rich keep getting richer. Much richer.

[@bambinaforever1402]

My children are young specialists in Finland - they re not getting suckered. Middle one is not 30 years old gets 5000 euros salary and is searching for another job with bigger salary. He is a software engineer slash developer

[@anzacman5]

The inevitable end play of selfish capitalism

[@lm_b5080]

its just a realignment of the global economy. this century will be the age of Asia

[@thunder881]

Boomers still control everything for their benefit

[@vladimirofsvalbard9477]

It's happening everywhere because every currency is traded in USD The Reserve Currency. The FED printed $7 Trillion dollars between 2020-2022. People ran out to get low interest mortgages to rent them out on AirBNB.

[@abyssal-labs]

We can thank our stupid greedy government for the issues we have now

[@kathrynletchford5114]

And immigration.

[@brianbattle3651]

WRONG BLAME THE STUPID VOTERS WHO DON'T ANALYSE AND THINK ABOUT OUR GOVERNMENTS. PEOPLE ARE POLARISED TOO MUCH AND ARE TAKEN IN BY CANDIDATES.

[@Cupinson-w1w]

@@kathrynletchford5114Immigration, low interest rates, government regulations all combined create huge demand and no supply

[@Ennryuo]

​@@kathrynletchford5114yeah i think this one is the biggest problem in Australia right now. I've lived in Australia for 5 years and 2 years ago it was the best and suddenly everyone is here especially Indian, Ukraine, Muslim and etc... if anyone says i'm racist, you can try order food delivery for a week and count one Aussie face or asian face. I can guarantee your count is gonna be 0

[@carolyng5133]

You can thank the voters for your government!

[@digitalbrinjen3245]

I feel short term rentals such as AirBnb are a part of the problem too. Many regional towns with just a small handful of long term rentals available, while the number of short term rentals are 100+. Just empty houses for most of the year, while people sleep in tents.

[@GeorgePollinger]

Same here in Toronto, Canada. In 1992, I could have bought a small 2-bedroom bungalow with mutual driveway for $129,000. Now, that same bungalow goes for $1,5-1.8 million. Yet, most people's income is now half of what I used to earn in 1990.

[@sal78sal]

those numbers mean there was no need for mortgages longer than about 5 years. sounds like BS to me

[@rasta77-x7o]

@@sal78sal Sometimes people bought houses with savings, it was only a year or two's wage. No mortgage!

[@arvisconti]

@@sal78sal The earning half of what you used to isn't true but the housing cost is pretty accurate. Mortgage rates used to be 18-20% when house prices were that low.

[@LenaFratangelo]

Maybe people need to move out of the big cities and consider living more in the smaller towns. When we couldn’t afford living in Toronto we moved to Richmond. Population of 65,000. Houses were 200,000 back in 1985. Interest rates were from 11%-22%. Houses were not cheap but definitely a lot cheaper than Toronto. 38 years later our house has gone from 200,000 to 1;500,000 with a population of 247,000. Lesson here : house ownership is hard. Sometimes you need to live in areas that are less desirable but you still have a home no matter where you live. Will you need to compute, probably. Will life be difficult, yes. But you will own your own home. Homeowner has never been easy for any generation.

[@AlexPanfilo-o9s]

@@LenaFratangelo Yes, and remember not to waste money on fancy phones or coffee.

[@ilikevines]

Thank you for raising awareness about this issue. I'm a 33 year old Australian with a young family...I've never been more depressed about the future of this country and the way it is being governed. My children already have a far less comfortable life than I had when I was their age.

[@DaRKHuNTeRMK]

Australia, Europe, Japan, Canada, US.. All of these places are struggling with similar issues - INCOMPETENT POLITICIANS AND CORRUPTION

[@Andre_XX]

Exactly right!

[@ozn3308]

Usa,Canada,Ireland,uk,Australia, Europe all of those places are getting worse . I don’t even know which country is best to live nowadays

[@DaRKHuNTeRMK]

@@ozn3308 yep, although the US is doing a little better than the rest, we are all in the same boat and we seem to be sinking man.. I have some russian friends and they say its not that bad, yeah stuff got expensive due to the w4r but they still have jobs, they still have kids, there is no lgtv++ messaging.. I dont see the west surviving this self destructive era..

[@UziMusic]

The pollies aren't incompetent, they know exactly what they're doing

[@reneemac111]

They are mostly run by left wing politicians, that have no idea how to run a business, never mind an economy.

[@TheBadgolferman]

When Australia got the 2000 Olympics prices started going through the roof.

[@7bowlo]

I hate what this country has become. it didnt have to be this way.

[@warpedweft9004]

then f-off if it's so good overseas. Santa Claus doesn't exist by the way.

[@jasontempest4233]

As a former TOWN PLANNER, I can say that the development industry, particularly in NSW and Queensland is burdened by insane bureaucracy, strict planning laws, extremely high headworks charges and a very slow approval process, which can take years. In this environment only the very high-end and luxury developments can turn a profit.

[@kremepye3613]

By design

[@linmal2242]

Spot on !

[@chinamed1]

This. Building a home is not that difficult or expensive without this. It's really not. Rent controls, government mandates, etc will not fix the problem.

[@aarons6935]

Sure you were.

[@Madchris8828]

Yep bureaucracy stiffles innovation, efficiency and makes everything far more expensive.

[@markmarky1124]

Several houses on my street were bought up by Chinese investors who then converted it to shared rooms. They even converted the living room and garage into rooms to rent. So now we have a street full of cars that looks like a parking lot.

[@barbellsamurai8014]

yep, nearly get t boned every time I turn into neighboring streets because cars down both sides. new neighborhoods with houses with no off street parking and narrow streets are a nightmare

[@momentos5599]

They are increasing the supply for renters

[@awakenotwoke1973]

​@@barbellsamurai8014Same in NZ. No off-street parking needed to get consent now. Already narrow streets are increasingly lined with cars.

[@awakenotwoke1973]

​@@momentos5599Only those with the third world mindset.

[@WayToManyAssassins]

The chinese are great at swooping in and snapping up anything they can get their hands on. There was a story a while back in Auckland about a chinese family raiding the beach of cockles and shellfish, leaving nothing left for the locals

[@tonymellow9578]

I am 62 years old and live in the suburbs of Brisbane. 2 years ago my rent was $200 /week. It is now $300 /week and will go up to $350/week in 6 months. I am a fully qualified teacher aide yet cannot get work in any schools in the area and have now been unemployed for 14 months.I have applied for over 150 jobs and still cannot get work. So I am now looking to move overseas to Thailand. This isn't the Australia I have been living in since I was born.

[@daSlipurySlinky]

I'm convinced the 1950’s was the pinnacle of western society. Its all just downhill into a fuck hole now

[@dmimcg]

You are correct.

[@daarom4391]

I am Dutch (Frisian) I see from my perspective only 1 thing that can be compared to Australia, Canada, what is left of Great Britain, all your economies suck. House prices unaffordable, a lot of poverty and no work and future

[@warpedweft9004]

Clearly you weren't around then. I hate to disillusion you but the 1990-2015 were the most prosperous years in history. You've grown up with more wealth than most and now it's reverted back to normal, you can't take it and want to blame everyone else for it.

[@warpedweft9004]

@@dmimcg nope. That's a myth put about by young people who have been brought up in the most prosperous time in history and can't take the realities of life. It wasn't like you see in the movies or on TV at all. It was a struggle that had to be managed on one wage because people wouldn't employ married women.

[@diabloblanco88]

@@warpedweft9004 right, ok boomer 👌🏻

[@AndrewMauriceSmith]

Why did both Canada and Australia try to fix economy after the pandemic (caused by the restrictions they created) with overwhelming record-breaking amounts of immigration, which only massively hurt housing/unemployment/cost of living... it's been a rough time for the citizens since 2020

[@robertleadwood]

Because they wanted easy short term growth to say "see, our system worked great and our economy is stronger than ever" 😂

[@johnnyfrank8450]

Temporary halt of immigration is only a band aid to a much bigger problem. You got to blame the policies of western governments of making housing a financial asset. This has caused asset prices to inflate. In the bigger picture, most western countries need immigration to sustain pension & social security benefits to their ageing populations. The problem is people lack an understanding of how economics works. Media needs to educate people rather than creating a divide based on a false narrative.

[@Greez1337]

Ask the WEF.

[@tonybloomfield5635]

@@robertleadwood You nailed it. Both countries politicians, on both sides, put their 'brand' ahead of their people

[@keepitreal2902]

Well both are about to learn how angry those citizens are.

[@Nswix]

Make it illegal for non-citizens to buy a home they don't use as a primary residence...

[@EnnTomi1]

or anyone, if they dont live in there, the house should be sold to someone wants to live in it.

[@JotvlaYeusk]

The state is too greedy especially nsw. Yes, stamp duty is a significant part of New South Wales' (NSW) revenue, particularly from property transactions. It is one of the largest sources of state income, contributing billions of dollars annually. Stamp duty is charged on the transfer of property, including real estate purchases, motor vehicle registrations, and insurance policies. Key Details About Stamp Duty in NSW: 1. Property Transactions: Stamp duty on property sales is the largest contributor. It is calculated as a percentage of the property’s purchase price or market value (whichever is higher). The rates are progressive, meaning the more expensive the property, the higher the duty. 2. Revenue Impact: In some years, stamp duty can make up around 20-30% of NSW's total revenue, depending on housing market activity. A booming real estate market leads to higher property sales and, consequently, more stamp duty income. 3. Fluctuating Revenue: Stamp duty revenue is influenced by the property market's health. During times of property price growth or increased sales volumes, the state earns more from stamp duty. Conversely, in periods of economic downturn or when the housing market slows, stamp duty collections can fall significantly. 4. Recent Trends: In recent years, discussions have taken place about potentially reforming stamp duty in favor of alternative taxes (like land taxes), as stamp duty can be a barrier to property transactions and result in revenue volatility. --- In short, while stamp duty is a major revenue stream for the state, its reliance on property market conditions makes it a less stable and more fluctuating source of income compared to other taxes like payroll tax or GST.

[@TusharGoyal2610]

As a non resident, I agree:

[@geodarnodan6750]

especially those from China/HK.

[@richardscott9797]

@@JotvlaYeusk Stamp duty is an utter abomination.

[@ahmedriyadh7780]

JUST A QUESTION, why the government not focusing on building residential building with 10+ stories instead of houses ?

[@Cubby9999]

The lady is right. There are so many unoccupied million dollar apartments that few can afford.

[@churblefurbles]

Apartments are the problem, they only further low tfr leading to labor shortages and then the resort to immigration.

[@keepitreal2902]

Only 0.6% of migrants work in construction. Its not as if migration is helping Australia fill its skills gaps. Notice that no economist suggested reducing immigration. Threatens their ridiculous Infinite growth model.

[@micphoenix8200]

The 'skills gap' is such an overt lie...the 2nd/3rd world doesn't have 'skills'.

[@alt_zaq1_esc]

I think the ideology behind "skilled immigration saves the economy" is that a country is a big corporate. A company can select and hire skilled workers and can also fire redundant ones to keep growing. The analogy doesn't work for a country as you can't "fire" redundant citizens.

[@krugmeup2162]

My thoughts too. Most likely these “economists” are just left wing morons

[@anujtiwari2613]

As a migrant I will tell you a funny Insight: corporates or small companies have lobbies run by specific race of people who literally will let only theirs to get a job and wouldn't let other highly skilled or more deserving people to enter the market, I faced first hand humiliation from small to big corps and tracked the hiring through LinkedIn, the best was to leave Australia and just live peacefully in my own country now, from education to construction or other businesses the Web of corruption in the people has uprooted the country, honestly first world importing 3rd world has made itself a 3rd world 😂 no cap

[@FranckBossi]

Tho over 15000 students are working in construction, you won't replace them with Aussies ...

[@BenjaminCooper-sd8ow]

It’s really sad to see how bad things have gotten. I’d be retiring or working less in 5 years, curious to know how best people split their pay, how much of it goes into savings, spendings, and investments. I earn around $90k per year but nothing significant to show for it yet.

[@RudyHunter-i2x]

money advice is subjective, what works for you may not work for me. I would suggest getting rid of any unnecessary purchases, especially things that cost you monthly, or better still consider advisory services for better planning

[@JeffWilliamfick]

I'm quite lucky exposed to finance at early age, started full time job at 19, purchased first home 28. Going forward, got laid off 36 amid covid-outbreak and at once consulted a professional. As of today, I'm just about 10% short of $1m after 100s of thousands invested.

[@Paradoxical124]

It gets worse as more immigrants come in.

[@EdwinBoettcher]

bravo!! retired in my 40s after inheriting money from a childless relative, traveled overseas and found a girl almost my age, happily married but only issue is how to grow and preserve our wealth... think your FA can be of help?

[@JeffWilliamfick]

There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Becky Lou Gordon” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.

[@connie1wilson]

Wealthy home owners??? Me and my husband bought a house in 2018. He worked solely, then last year that crunch caught up with us. I now work, and had to take a promotion, on a part-time job, because I have no choice! If I did not work, we’d not make the mortgage payments, so so much for wealthy home owners!

[@alliswell44596]

Lol. Ppl work 3 jobs to even rent a tiny apartment, and u complain u had to take a part time job🤦‍♀️. Wake up!!

[@MinotauroWalker]

You're not a home owner you're a home loan owner. You don't own shit until it's paid off. This video is about people who have paid off their homes and own them.

[@wwondertwin]

That's what happens when you allow foreign investors to buy investment houses. It's happened everywhere but some have dealt with it better.

[@Crocus1979]

So true. The Chinese... the Russians...

[@wwondertwin]

@Crocus1979 Where I live there's now a law that requires anyone buying a home to live in it for a few years without renting it out, plus lots of rent controls. It's going to take a while for the market to balance out but it's already gotten better for renters. We need to push the foreign investors out of the local housing markets.

[@JoeGator23]

@@Crocus1979 Japan has bought $Billions in houses, too, amongst others. Some financed by foreign political parties/governments. All compete unfairly against Australian citizens- that will own nothing or be ripped-off for decades. Many will lose money, as well. Go figure, literally.

[@carlosrg4659]

LOL "Foreign Investors" the problem are corporations ..

[@griffin1366]

Official numbers are what, 1-4%?

[@Amber-b3g]

I am a midwife. My partner is a naturopath. We lived in a tent for three months with no running water. It was hideous 🙏

[@jeffsstt]

Omg

[@andreaslind6338]

You know it's bad when even doctors are living in tents

[@DrAsian_Jesus]

@@andreaslind6338naturopaths are not doctors

[@howieddd1]

Naturopath? Hahaha

[@kindregardless]

​@@andreaslind6338There are no doctors living in tents.

[@Zoetherat]

It's amazing that not a single western government could foresee this problem decades ago and take action to address it. There's a housing crisis in England, Canada, New Zealand, Australia, and the US. Aren't there good politicians anywhere in the world? At least Singapore and Hong Kong have an excuse, as they lack the physical land to build more houses on.

[@perfectallycromulent]

When they try to address it, they get a ton of angry people screaming at them that building new housing is going to make their existing real estate investments worth less. That's the problem here: adding housing to crowded cities means lower real estate prices, but that effectively means a ton of voters who already own real estate are upset with you, and they will vote for the person who says they won't let property values decline.

[@AJourneyOfYourSoul]

@@perfectallycromulentthey need to develop new cities instead of trying to cram everyone into the same overgrown city.

[@myday2704]

Maybe they wanted to crush the middle class? Make everyone desperate?

[@adamweishaupt3409]

They saw it coming and took advantage of it; accelerating it.

[@wafflingmean4477]

They ALL foresaw this problem and deliberately made it worse, because a massive amount of politicians already own properties. They are in the minority that benefits from a housing crisis. There's a conflict of interest.

[@VenturiLife]

Wages haven't kept up for about 16-18 years now.. all by design. Australia's real-estate looks almost like a carbon-copy of Canada's.

[@DoomKid]

Yep, this is intentional!

[@huckfinn4686]

Kiwi here, young people have always left nz for aus because you make more money. Still are going, but many coming back broke now too.

[@puddingtvinc]

Dog here, woof woof.

[@Clapping-lisi]

Cat here.. meow

[@poopoppy]

I think it would be good for NZ if Kiwi's stopped moving away. I have lived in Norway for the last 25 years. It was a mistake as Europe is totally screwed.

[@Wolf-hd1hr]

Indian here, my cousin lives in NZ and is planning to move to Aus due to very high living costs in NZ.

[@Clapping-lisi]

@@huckfinn4686 Tongan here. Eats dog

[@timvanschuilenburg1524]

My old man bought the land and house that makes up our home here in perth western australia back in 1995 for the price of funnily enough $95,000. It was a bare minimum purchase. Land with no landscaping, driveway etc and the house had no floorings, curtains etc etcc But it is a big house with beautiful facebrick design all round, on a 700sqm block. Old man finished off the house over the years either paying for tradess or him and us kids doing it ourselves. For example I built the huge alfresco out back as a second year roof carpenter apprentice👍. Sadly my old man passed away in 2015 but house was passes on to me, my brother and sister. Me and my brother still liv here. I still reside in my childhoodd bedroom! Lol. So house and land was bought for $95,000 in 1995. After the old man passed in 2015 house was evaluated and valued at $420,000. Now in 2024 its now valued closer to $700,000! Fking crazy! My family is very blessed to have our family home and very blessed we had a such loving father who worked his ass off right up to the day he passd away in order to be able to provide his family with this home👍

[@falconheavy595]

You had a great dad.

[@jesusisking8502]

What did you do with the sister?

[@testerbend9473]

I also had an amazing dad wh came to Australia with nothing but worked like a dog for what he built up. I have no time for free loaders, wealth transfer advocates or victims.

[@jamesrecknor6752]

@@testerbend9473 Please run for political office in USA, we are tired of our confiscators/closet communists and various assorted other Obamaists.

[@sowhat3430]

Did you and siblings buy your own place?

[@randomperson5817]

“Do not store up for yourselves treasures on earth, where moth and rust destroy, and where thieves break in and steal. But store up for yourselves treasures in heaven, where neither moth nor rust destroys, and where thieves do not break in or steal; for where your treasure is, there your heart will be also.”

[@Jacobs-pillow]

Thank you random..This is a pleasant stop over on my journey to the neverending.

[@HAYDS510]

Wealthy people from wealthy families have far less roadblocks making investments. They've manipulated their access to the housing pool to buy it all up and raise the prices, and then tell everyone it's hard work (in their minds, dressing themselves is hard work). There needs to be policies in place that stop these kinds of monopolies. Houses aren't market shares, they're essential shelter for people to just live and everyone is stressed about having that shelter.

[@innoccente1]

The problem with Australia is not lack of house supply but an economic model that is based on raising house prices. Unfortunately eventually living in Australia will become something for either the very rich or the very poor.

[@davidvanderklauw]

No. It is lack of house supply that does not match immigration.

[@Tsardoz]

Yeah like Canada and USA. I thought we were better than that. I was deluded.

[@earthlymatters888]

no. the problem is purely immigration. 4 million immigrants last 5 years. remove them and housing prices plummet 60-80%

[@JayJayGamerOfficial]

​@@davidvanderklauwImmigration and lack of housing only scratches the surface, you have so many foreign investors that buy Australian houses without ever stepping foot in the country, let alone the house then instantly rent it out for an absurd price so they can make a profit. The first step of actually getting the problem fixed is by preventing non citizens or immigrants from buying our real estate. Just by doing that it will free up a lot of the market and bring down prices. another problem is that the top 2% in the economic ladder are all allowed to own hundreds of properties, some of which just lie empty for most of their time. that can also be easily fixed by bringing in new laws such as a limit of how many housing properties you can own and mandating a certain threshold where the property is inhabited. Those fixes will easily make housing more affordable and yes, there will still be that problem of demand growing higher than demand which also has an easy fix it would not as much of an impact as the other two. Of course the government will not do any of this as the growing cost of housing in Australia is making them money through taxes.

[@michaelkopischke8072]

Anyone else notice this exact same story (with slight variations) is occurring with seemingly every county in the world right now?

[@shayscott7498]

"developed" countries. Call it Karma.

[@definitelynotanAIchatbot]

​@@shayscott7498Karma for developing modern technology and scientific knowledge?

[@ausmate5235]

Its hapenning in the “civilized” world. 🤷‍♂️😄 Our gov-t are squeezing us dry to make us debt slaves.

[@user-xg6yc8ho3w]

Just the Western ones, particularly the "5 Eyes" countries.

[@steventolerhan5110]

The great wealth divide. Its coming 🙏

[@terrihull5059]

we bought a house outside Perth (in the hills, about 40 minutes outside the city) in early 1972. I believe my mother paid around $29,000 for it. It was quite large; 5 bedrooms, 2 bathrooms - on a 1 acre lot. It was a fabulous property. I couldn't afford to buy it at the price it's worth today, I'm sure it's easily worth 750k or higher.

[@CaptainKiLL83]

We are fucked....we gave our government too much power and now we the people are suffering at their hands....we need to clean house or revolt....

[@stivi739]

Look at the poor smokers. 140 bucks for 50gm of tobacco and they wonder why there's a huge illegal tobacco epidemic

[@jaeboston8455]

No, everyone has become the product of the mean machine called unchecked capitalism. The system is designed to make the rich extremely wealthy with private jets, 50-500 million doolr homes and stock buy backs. Meanwhile, you and I work buy stuff, pay taxes and die. Prices have sky rocketed and both parents have to work to sustain a living. The psychological ploy was to get everyone stuck on consumerism in the last 60 years and this monster was created. You no longer have control of your destiny. I am not some kind of radical. I just opened my eyes, and I can fly beyond the madness.

[@Azmedon-AU]

@@stivi739 Yeah, luckily I gave up almost 4 years ago.

[@bennysmith2007]

People literally marched the streets to stop this kind of stuff becoming the norm, during the sniffles, but the Australian public let the media manipulate them into demonising these people & look where we are now...

[@iwandaniels723]

Australian here: limits on the private sector aren’t the only contributor to limited supply. When Property developers in Australia finish a big set of apartments they will sell each apartment one at a time to keep the price artificially high and limit the supply of new housing.

[@earthlymatters888]

the one and only true problem is immigration. if we reversed the immigration we've had the last 4 years the housing market would tank 60-80%

[@joefarrow487]

Not just AUS but also NZ, UK, IRL, CAN & USA. Blackrock is on pace to own all housing in all these countries by 2040

[@ashleyong55]

Totally agree

[@tatuanui]

Pretty much exactly the same in New Zealand. Nobody has seems to cottoned on to the fact that short term visitor accommodation (airBnB) etc have removed a large amount of properties form the rental and first home buyers markets.

[@tylerhalloran9158]

Another problem is so many construction companies are going down.. it's not just that we don't have enough builders... the builders can't even afford to keep their businesses afloat. Nearly 2000 construction companies have gone under in the last four years

[@lachlanbrown8110]

I have a good paying full time salaried job and yet I can’t afford to live in even an apartment by myself. I have to live in a sharehouse with 4 other people. It’s an absolute disgrace and complete failure of government policy. Houses should be for LIVING in not INVESTING in.

[@abyb1923]

What city?

[@4ngelik44]

and it sucks so much the younger you are! I'm 22, living in Melbourne, moved out at 18. I only work part-time while studying...renting + groceries are so unaffordable it's so hard to get ahead

[@danielcowan4901]

This. I earn 900 a week and am barely surviving.

[@bullparnu7434]

@@danielcowan4901that’s chicken feed mate. Wouldnt get out of bed for that. You should be earning that each day. Go get a better job so you can live

[@abyb1923]

@@danielcowan4901 what city?

[@5heffPaul]

Politicians will never pass legislation to ban multiple property ownership because most of them are landlords and have a property portfolio!!

[@steveperreira5850]

Because housing is not actually a free market, that kind of intervention might be necessary at least until the market can be opened up properly and unencumbered. As you say, your government doesn’t give a rip about your problem. Over here in the USA they want HYBE housing prices and values so that they can take their cut through property taxes. So sorry for all of you, but, on the other hand, most of you love that Socialism, especially in Australia, and that gives all the power to the government, and look what it wrought!!

[@largol33t1]

It's the same in the US. Housing is so bad that homeless rates are SOARING. It's especially noticeable on the Pacific coast where people are living out of their cars.

[@craigberesford726]

I live in the UK and work in the building industry. They are deliberately withholding stock to give greater prices. This isn’t news. It’s been happening in the UK for years

[@Madchris8828]

I think this is happening in the US too in some places

[@0401412740]

I am essential worker nurse. Borrowing capacity $500k on average salary. Housing cost $1.5m. Dont know how I'm going to live.

[@skruppy222]

New gov policy means you only need 2percent savings for loan. Just passed them house! Be a nurse in tassy or Perth you will get a. House and Perth is beautiful!

[@matmac888]

Don't vote Greens or Labor might be a start !!!!

[@christopherpekel6096]

Get out of Sydney I dont want to state the obvious, but come on

[@barbellsamurai8014]

@@christopherpekel6096 and if every nurse leaves sydney? pull your head out boomer turd

[@Crocus1979]

Immigrate! How about Scandinavia?

[@MeadowDay]

I lived in Australia thru the 80s. It was truly paradise, took us over a year of strict applications to get accepted, needed a skilled job, education, good health and were expected to improve intigrate and love Australia. Wonder what changed?

[@jesusislukeskywalker4294]

one factor would be that about half the international students commit fraud to get in and then end up staying. the United Nations Lima Agreement 1975 has a lot to do with it.

[@larion2336]

What changed was the cabal of small\hats deciding they wanted to move ahead with the erasure of why\ite populations. That is the actual purpose of the mass migration. It's why you find it in all majority why\ite countries now, irrespective of other factors like political party, economy, population, etc. Off the top of my head, all of these have faced massive immigration issues at roughly the same time: Australia, USA (mostly illegal), Canada, NZ, Germany, Sweden, France, UK (England, Ireland & Scotland), Denmark, Norway, Italy, and many more I can't think of right now. Look into the NGO's funding these migration programs (backed by small\hats). They have offices all over the globe, and they pick up migrants in third world countries and expressly deliver them to first world ones. Been doing this for at least 3 decades, increasing all the while. Look into Pizzrayel who accepted refugees, then rejected them, and instead of sending them back where they came from instead deliberately sent them to the West. Small\hats are two arms on the same serpent - the small\hat conservative right in the middle east, who sow conflict and violence (see Gaza, Lebanon now - plus the Iraq / Afghan / Syrian / Libyan wars which they were behind) - then the liberal left in the West (80% voted for Kamala), who campaign for open borders, tell everyone they should accept refugees, say it's morally righteous, tell anyone they're xenophobic / bigoted / racist if they dare suggest their own country should belong only to their own people (rhetoric which the small\hats say word for word for themselves in Pizzrayel, mind you). The right creates refugees, and the left accepts them. This strengthens expansionism in the middle east for Pizzrayel giving them more land and power, while also destabilizing the West by flooding them with the refugees which they created on purpose.

[@misst.e.a.187]

@@jesusislukeskywalker4294 Except for the indigenous people, you're all immigrants

[@glendasutardycempaka2830]

Neoliberalism, trickledown economics where its all in favour of the rich.

[@come4itofficial517]

@jesusislukeskywalker4294 I finished my studies. Goodbye Australia. But I confirm what you say, I saw a lot of illegal here.

[@wiszak9370]

The same here in North Korea. My rent jumped from $1.8 five years ago to $5 a month now.

[@DomiXen_Zvaczer]

is this comment a joke

[@tasmangirl]

I left OZ in 2018 , i am dual citizen French/ australian , and went back to France , i bought a stone house on 4 acres of land and never looked back. Shame cause i enjoyed living downunder but matchbox houses at 500000 dollars was a big NO NO for me.

[@Crocus1979]

What do you do for living? Did you find work in France or are you working remotely?

[@bambinaforever1402]

I know, right? Greetings from the south of France.

[@memcmeepants2392]

BS ALERT

[@sal78sal]

you can buy land pretty cheap in Australia too. just depend where.

[@gringolife9986]

​@@sal78salyes he just talk bs. Same s hit happen in France Crisis housing is same . House around Paris is more than 300000€ For sure if you go buy land where there no demand for sure it's will be cheaper just like every where I lived 23 years in France and with 2300€ salary l never think l can buy house there I moved Thailand and buy house for less than 20000€ In village in north east of Thailand For same house in BKK you can multiple by 5 Same thing happen around world

[@Whatneeds2bsaid]

The housing crisis has fast become a global phenomenon. Since there are so many investors wanting to invest in housing, Australia (and other governments) should be aiming that money/capital into increasing the housing stock instead of hoarding the existing housing stock.

[@hmwong88]

The cost for buying a house in Vancouver, Canada is worse than Australia. We’ve already hit $ 1 million dollars for a crack house way back in 2008.

[@miladshakouri7]

😂😂😂 Canada was one of my favorite countries, but now I have changed my mind

[@DavidDuchov]

@@miladshakouri7yeah it sucks for now, we’ll get rid of Justin in a couples months, still a couple years to bring the country on the right path

[@mushy111]

Sydney is the second most expensive city in the world now after only Hong Kong.

[@christopherpekel6096]

Why are you comparing one city with an entire continent Sydney and Vancouver are much the same price

[@leonbeale5431]

@@christopherpekel6096 And importantly both cities consistently rank in the top tier of global indices of unaffordable housing.

[@aaronfitzgerald9109]

Notice how there are not too many Australians lining up to view these houses...

[@martin5504]

I think you are missing the point. Home ownership does not suit the plan of the people who actually own and run the world. It would be a simple matter to produce enough good homes cheaply with modern building methods. The people in charge WANT you to rent from them and banks and very large investment companies are buying up property and land so that fewer and fewer people have ownership. Those who still own will be increasingly taxed out of existence. "You will own nothing and be happy" is the aim, at least the first part. Please wake up to the bigger picture and stop this intellectual illusion that the problem is anything else.

[@mrblack888]

This is basically correct. People who own their homes with a mortgage exercise power - where they want to work and for what salary. People desperate to pay a sky-high rent have no power, they have to work for anything they can get.

[@Rikaishi]

This is just the result of wealthy investors having too much power over government, not some WEF conspiracy. Fix political donations and this, along with many other problems, becomes much easier to deal with.

[@billspencer8540]

Remember, you will not own anything and be happy - while you freeze and eat bugs. ^^^ This message has been approved by Klaus Schwab.

[@JohnPap21]

There's 300.000 empty homes in Australia who belong to vulture funds and this guy made a 15 minute video to blame the immigrants not the bankers and the corrupted politicians

[@UToobUsername01]

We tried to warn but nobody listens.. Evil people exist.

[@hanaporter4917]

My husband and I made over 200k a year in Aus. However, it was still difficult for us to buy a reasonably priced house, and the cost of living was (and is) absolute madness. Would easily cost over a million dollars for a 2 bedroom house in the suburbs. We made the decision to move back to Japan (husband is Japanese and I have a dual nationality) where despite the salary being lower than Aus, the housing and cost of living is affordable. Education, medical/dental care is not only cheap, but the quality is excellent throughout Japan. Would probably never move back to Aus again.

[@louisebb4183]

Really so what have you been doing with your salary?? If you have been thinking of buying 5 mln property then you may not qualify but for new house of 4bedroom you can get for 1.200/1.500 .000 .

[@memcmeepants2392]

sounds like bs to me, I make less than 60k a year and im a single dad with kids and I can afford anything I want pretty much. wtf are you doing with your money ???

[@test143000]

So you looked for a property in a 4 km radius of Sydney CBD and complain about affordability.

[@petunized]

Move to Russia. With 500k$ investment you won't ever have to work again. And home ownership rate is record high

[@TienNguyen-t8e]

@@petunizedmay I know what you did with $500k in Russia?

[@KomodoSoup]

I’m hearing everywhere else living conditions becoming almost impossible to live with Canada with its rising rent US with housing shortage And so on so forth

[@HindsightYT]

Very true. It mostly happens to "rich" countries though.

[@KomodoSoup]

@ you mean, first world countries?

[@HindsightYT]

@@KomodoSoup I don't love that term, it can mean so many things. But you see those things happen in North and Western Europe (Eastern Europe is a completely different story), North America, and of course, as you'll see in this video, in Australia and NZ.

[@KomodoSoup]

@ agreed 👍

[@securitealarme2602]

Yes and i live in canada

[@soulspacehomestead4941]

The simple truth is that if you have a mortgage, you don’t own your house, in fact you can’t even afford your house which is why you need to borrow the money in the first place.This lie of home ownership has been perpetrated around the world and then we are somehow surprised when it comes crashing down.

[@bregjejabra25]

The simple truth is, when you have no mortgage, and your house is paid off, you own nothing.

[@jasongultjaeff9397]

Australian governments since the 80's: Take the worst of America but leave out the good. The place is becoming hell on Earth unless you are mega wealthy via the property boom in the 80's, or family money. For your health and happiness, stay away. This is the country where you can have a full time, decent paying job and still be homeless.

[@richardbenfatto9475]

ARGENTRALIA this is what it is, now.

[@come4itofficial517]

​@richardbenfatto9475 Is even worse bro... Now Australia is... VENEAUSTRALIA

[@thunder881]

Is it really that bad? I'm read the AU press and i see so many successful young professionals and entrepreneurs becoming wealthy mostly in property and tech, something that in europe i don't see happening. Social mobility here is dead here.

[@Berserkism]

interest rates were 10% by 1974 and nearly 18% by 1990. Pull your head out of your ass, people fought damn hard and scrapped by with virtually nothing to keep the family home you clowns claim they got so easily.

[@jasongultjaeff9397]

@thunder881 social mobility is dead here too. Most of them come from wealthy parents who let them stay at home until they can save money for a deposit or give them the deposit. Every success you will see if you drill down far enough, is the same elite private schools and family money. Even if they are dressed in torn jeans and look like they live on the street.

[@J0hnobombV1]

The people rising all the prices to ridiculous numbers are the same people who are saying "why isnt australians having kids anymore?? Have more kids!" Its a simple fucking answer. Nobody can afford it.

[@krisjones4051]

Ironically the poorest people are the ones having kids. Kids aren’t the issue

[@J0hnobombV1]

@krisjones4051 they play a big role in it.

[@krisjones4051]

@@J0hnobombV1 There’s no correlation between poverty and kids causing poverty…

[@robertmitchell6080]

@@krisjones4051More kids, more, better, higher Centrelink payments and living in Social Housing, usually Refugees and Asylum seekers.

[@deebeedraws]

@@krisjones4051Because the people working higher paying jobs are paying for those government childcare subsidies/welfare that they depend on to have so many kids with a low income... A huge percentage of the average income tax is going straight to welfare! "Free money" from the government is never free, someone else is paying the cost!

[@TheHardStyleLife]

I spent 1 year applying to over 200 different jobs. Australia is fucked at the moment. And still can't afford anything with a job anyway. (30)

[@testerbend9473]

Impossible. There must be something not quite right here.

[@xlynx9]

This happened to me too. Did you do many interviews before finding a job? What is your observation of how effective they are at choosing the best people?

[@technology2598]

Yeah few years younger than you and i've not had any luck with getting any work either. And they say un-employment is going down ......... load of rubbish that is.

[@HFSAUS]

@@testerbend9473 Nah, it's reality for many sectors. A close friend is a software engineer, with about 10 years experience and a glowing set of referrals, even he is having trouble getting a job despite being exceptionally skilled and experienced in the sector. I mean, yes, he could get a junior role or some other role paying 1/3rd what he is worth but... that's pretty fucked isn't it? Is it reasonable to ask someone to do work that they are far beyond for pennies? Not to mention he wouldn't dare take those roles from new graduates who deserve a chance to get their foot in the door.

[@Berserkism]

@@HFSAUS they are advertising Teacher Aide jobs but requiring a full Teaching Degree smh. This shit is everywhere.

[@chanchanchu4630]

the trend just exactly same as Hong Kong since 20 years ago, but one of the big different is : Hong Kong is too small to build sufficient home/ apartment. However, Australia is such a giant country, they should have able to develop further region for new home / residential building.

[@terrorscream9211]

surprised to see no mention of John Howard, he was one of the critical players responsible for the door closing on the Australian dream when he changed negative gearing and capital gains tax which essentially allowed people to receive a tax break if their rental investment didnt make a profit, he socialized the losses and removed alot of the risk, this lead to a sudden sharp increase in already rich investors hoarding huge amount of property, some with portfolios in the hundreds, and what was worse was allowing foreign investors to buy residential property for the same reasons. by the turn of the century the prices sharply started to rise and have never gone down.

[@EmeraldHill-vo1cs]

Yep howard fkd us up in many ways.

[@Spoonfed78]

And sold off the services and infrastructure of the Australian people..... on and a war criminal to boot.

[@davidmorgan3469]

Spot on, Howard was key to these conditions developing

[@TasmaniaIsAHole]

The more I read about the Howard government the more I realise that it's where the downfall originally started.

[@eleonoreliebe3331]

@terrorscream oh yes your absolutly correct. When little John Howard was in charge of our country, he privatised everything and to pay our debs to save money it was done at our expense (taxes )that was the moment everything went downhill and public housing already way back then was put on the back burner or totally necolactet it was also a time where everything in the building industry was tendred out to greedy investors. Consequently, because of greed many of our apartment buildings were built to substandard and prone of collapsing leaving people responsible for all repairs finding them selfs broke and homelessness.not to foget our government sold our assets ,we where sadly sold out to the highest bidder . From then on, our once so beautiful country started to go down the 🚻 toilet. So where are we going from here ???

[@pavementpounder7502]

Property (buying or renting) is becoming a scam for most people. Opportunistic greed is nothing new, the system just enables and encourages it.

[@bigjared8946]

Happening everywhere. The root of it is housing has become just another globalized, bougie investment commodity, and this completely detaches it from the local market. The very concept of human housing has become fully commoditized. Governments *could* do a lot of things to address this but they all serve the interests of the investor class, as we see.

[@ConanOG]

The problem is that most of these houses are bought by people, not actually big investment companies. You fix this with higher rates, lower rates just incentives people that don't need a house to buy more just as investment, because a ultra low rate is basically free money. Increase the rates and these people stop buying too many houses.

[@PileOfBeansThatComments]

australian here, my sister is looking to buy her first home right now, and she has found exactly nothing. we live in queensland, and my current home costed around 700,000$ in 2007 when we bought it, it now costs over 2 million. thats insanity

[@Whatt787]

Same here in Florida, House and Condo prices have tripled here since 2011