Why life in Australia has become Impossible

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The Australian dream is about owning a house, but that ideal is now increasingly getting out of reach. House prices nearly doubled over the past decade, and rental properties have so much demand that sometimes literally dozens of people are lined up at inspections. Where did this all go wrong?
FULL TRANSCRIPT + SOURCES:
docs.google.co...
FURTHER READING:
Australia’s Housing Crisis: The High Price We’re Paying (Forbes):
www.forbes.com...
State of the Housing System 2024 (Australian Government):
nhsac.gov.au/s...
Spatial disadvantage: why is Australia different? (Australian Housing and Urban Research Institute):
www.ahuri.edu....
#Australia #HousingCrisis

[@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

[@GoogleStealsData]

The problem is the currency debasement, caused by central bank printing.

[@PetrBelohoubek-ot5ok]

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

[@Ok-lu8gx]

ok

[@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

[@TzvetozarCherkezov]

It's not design. It's simple economics. The exact same thing will happen in all the developing countries once they develop. It's already started to happen in China even earlier than we thought it would.

[@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

[@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?

[@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.

[@alanrodriguessmn]

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

[@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

[@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^^

[@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.

[@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.

[@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.

[@CCourts]

Deputy Greens leader owns 6 properties!

[@slangterm]

@@lancearn7332 fact check, use a calculator

[@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.

[@DepravedSpirit]

@goaway9977 must be one of the parasites with an investment property

[@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.

[@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.

[@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!

[@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.

[@AnnatarTheMaia]

Poor Australians. Not only do they have an overpriced housing shortage, but their houses are American plywood chicken coops. It's absurd; it's appalling. One pays over a million AUD and one gets a plywood chicken coop instead of a house built of concrete and bricks.

[@ovidiut6382]

Exactly this. Literally an overpriced plywood chicken coop.

[@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.

[@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.

[@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

[@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.

[@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

[@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.

[@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 ...

[@BenryHoyson]

21.1% of the 518,000 immigrants to Australia in 2023 was from Indians. The next 19% was from Chinese and Filipinos. There are almost as many Indians in Australia as English.

[@eleonoreliebe3331]

@BenryHoyson you only have to be treated in the hospital, and all you see is Indians and when it comes to a very personal treatment, on your body i prefer to be looked at by my own kind. indians they are everywhere.

[@sarasumayya3839]

And is that bothersome and disruptive? Just want to know

[@DejanTesic]

Someone open the windows it smells of bigotry here.

[@BenryHoyson]

@@DejanTesic These are facts from the governments website. Are numbers bigotry? You sound like a retarded liberal

[@BenryHoyson]

@@sarasumayya3839 It's just an answer to the 'housing affordability' issue highlight in the video. The largest group of immigrants into Australia rose up to 63% year on year. There's a supply shock when immigration outpaces housing supply.

[@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.

[@marka8274]

Wouldn't the solution be to just stop immigration, abolish negative gearing and ban people from buying property unless they are citizens ? The problem is, too many politicians have investment properties and don't want to see the prices fall.

[@mrblack888]

It's not just personal financial gain. There are international agreements and "norms" that are developed by people with much more power than any politician. Governments everywhere are locked into them. It needs a revolution to shake free of this.

[@davidvanderklauw]

No. The problem is that too many people keep voting for those bad politicians that you mention.

[@lesskinner8588]

@@marka8274 yes, and make sure no dirty money is used for property purchases, you’d see a stabilisation of housing in very quick time. Would take time to recover, but immediately going in the right direction. Even just stating negative gearing comes to an end 1/1/26 and you’d see a stabilisation overall, and a build up of better priced homes coming onto the market in a short time.

[@eleonoreliebe3331]

@marka8274 treat every politician with suspison they always make them self a good life at our expense .

[@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.

[@pavementpounder7502]

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

[@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

[@Kingslayer_au]

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

[@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%?

[@gjrevans]

As a Canadian I'm scared because this is just a few years away for us. 😢

[@themoviecapo]

It’s been here since 2021

[@arvisconti]

This is Canada now. lol. This channel even has a video about it as well. You should watch it but it is pretty much the same as this one.

[@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

[@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.

[@Cubby9999]

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

[@szylak]

We have a housing crisis in Canada and they just let in 10,000,000 new immigrants.

[@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.

[@Paradoxical124]

Stopping immigration or implementing net zero immigration is the first thing that has to be done to relieve the housing crisis.

[@Andre_XX]

Yes, it is SO obvious, but economic ideology and just plain old greed are involved!

[@Crocus1979]

What about aging population and decrease in workforce?

[@mrblack888]

@@Crocus1979 What about them?

[@BradleyHewlett]

​@@Crocus1979Japan hasn't completely collapsed has it? They been telling you that we need third world mass immigration or we will collapse and you believed them 😂😂😂

[@emnl.o7ero]

Blaming immigrants for Australia’s housing crisis ignores the real issue. The lack of affordable housing is caused by excessive regulations, high taxes, and policies that favor big investors instead of encouraging a more competitive market. In a truly free market, entrepreneurs would build more homes to meet demand, driving prices down. Immigrants aren’t the problem; they contribute to the economy. The real obstacle is a system that prevents the market from efficiently addressing people’s needs.

[@laikanbarth]

Yeah, because all of these rich people who own several houses to rent out are making so much money off of a housing shortage. They can charge so much more rent. It’s appalling. Housing should be a human right. We even buy houses for our animals.

[@davidvanderklauw]

Did those rich people cause the shortage? or are they merely profiteering from a shortage created by bad government created by bad voting?

[@griffin1366]

@@davidvanderklauw They don't cause the shortage, they are benefiting from it as any average person would. The Government is at full blame here.

[@user-6d4un3w7h]

@@davidvanderklauw And you don't think those VERY wealthy people aren't bribing and such?? LOL

[@davidvanderklauw]

@@user-6d4un3w7h LOL. You offer zero understanding and zero solutions. LOL yourself.

[@tahliel]

I'd suggest that few landlords own the investment property outright. The rise in rent is because of the rise in interest rates. They have to cover the mortgage with the rent you pay. If the rent is late, the mortgage payment is late. If the rent isn't covering the mortgage the place goes up for sale and sells for a higher price, Someone takes out a bigger loan and the new rent is higher. The tennant looses at every turn.

[@danielle-q1t]

Dear Australia, this is also happening in the United States. My rent has increased 20% each year for the past 3 years since there is no rent control. No person under the age of 32 can buy a house without the help of their parents or generational wealth. Buying a house is no longer accessible for the average American.

[@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

[@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?

[@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.

[@Moser72]

We could fix this everywhere but a lot of people wouldn’t like what steps would be required. It requires government intervention, but unfortunately this is the fault of all governments involved.

[@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!

[@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

[@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?

[@peterchopper6507]

Over Governed over taxed over policed is the problem here due to Greedy Governments and bureaucrats

[@robm2245]

Out of control immigration is the common issue with every far left country in the world. Canada, the U.K., and now the U.S. have the same issue. If you allow millions of new residents into your country constantly, the competition for housing of course goes up. It's not rocket science. It's supply and excess demand.

[@dondomingo6578]

agreed 100%. Immigration is the elephant in the room. Especially 3rd world immigration

[@adamweishaupt3409]

"Residents"

[@Temperius]

Breaking it down to one issue doesn't work for a problem that complex. While I must agree that immigration does have a substantial negative effect on the housing market laws encouraging homes as investment properties as well as bad city construction.

[@davidbrayshaw3529]

Australia is a long way from being "far left". For most of the past 3 decades we've had ultra conservatives running the show.

[@PoliStrategtion]

@@dondomingo6578 No, it's the big corporation

[@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.

[@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.

[@user-xp3jb6ve9w]

And you drive across to Halls Creek all the way across the Great Northern Highway and you dont see people . Did you ever understand this mate, I did back in 1985... Greed just more Greed and its a system to put all Australians into a system of slavery while your politicians and real estate corporates keep you all in the jaws of a system of slavery and then you DIE.

[@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.

[@khalidosman8027]

Lowering interest rates so much is housing suicide. In South Africa the repo rate from the reserve bank alone is 7.75% and prime is 11.25%. It's extremely punishing to those in debt, but house prices have remained flat for over a decade.

[@salamandiusbraveheart4183]

Let in millions of immgrants... Why don't we have enough housing?

[@davidbowie5023]

We in Ireland aren’t better mates. 😅 Our economy is laughable now.

[@ImVeryBrad]

Canada as well. Getting run into the ground by our Government.

[@incognitofla592]

Socialist like the EU. That's Ireland's problem.

[@rokasdobrovolskis]

@@ImVeryBrad Politicians come and go. Bankers are creating this mess. On purpose.

[@catherinedonohue2662]

Hoping as l write this ,the election results will finish our terrible far left in lreland.

[@misplacedspirit6162]

Holy moly batman David Bowie is back and he's Irish..😎 ✌👍

[@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.

[@jrose-xp6tf]

Australia quietly returns to penal-colony status, with its inhabitants imprisoned by governmental mismanagement.

[@7bowlo]

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

[@TartarugaGracie]

In 2023, my Australian permanent residency was approved, I moved to Australia. I faced a local barrier for foreigners to enter the Australian corporate environment (they require local experience) and difficulties to rent a place. In 2024, I left Australia and gave up my permanent visa status.

[@vinize]

Where are you from? How did you obtain that visa?

[@benficaM8888]

i can tell you. You should have bet your horses for USA. as a minority who has lived in both. US companies are far more open to hiring migrants, people who speak with an accent, etc. As long as you're hard working.

[@Hudpix16]

That’s ok, we don’t miss you

[@YaIngaYaYa]

I'm surprised at your situation. My bf and his family all migrated here... Never had that problem..my sister in law migrated here. Never had that problem. In fact a lot of my friends were born overseas and migrated here and never had a problem. What industry were you wanting to find work in?

[@barnowl.]

My daughter had a similar experience when she moved to England for a six month working holiday.

[@srbislavn]

My friend is moving from Brisbane to Belgrade, Serbia and she is happier than ever . Even with good job she found life in Australia imposible

[@gottabealex2249]

I have always dreamed about visiting Brisbane. Such a beautiful city!

[@besovereign2032]

belgrade is also struggling.

[@stevenstoyanov]

Australia and Canadas housing crisis is INSANE and doesn’t make any sense when they are BIG countries and have sooooo much land like wtf 😳 the properties should be cheap not expensive

[@ks8579]

This is true in every developed country. Blaming drugs for absolute poverty, works well for the greedy.

[@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.

[@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

[@wernerziemerink]

On my last trip to Sidney and Brisbane from South Africa, I noticed the huge amount of asian people in Australia. This has increased so much since my last trip in 2018.

[@rasta77-x7o]

Yes but i much prefer them to Muslims, they are friendly and don't really try to change our culture.

[@leachville3001]

​@rasta77-x7o say what? Muslims are a religious belief being Asian is their ethnic origin not religion. There are plenty of Muslim Asians. Muslims are in all ethnic groups . What ironic is they can come here and build their mosks and live their lifestyle with no interference. I can guarantee if we went Iran 🇮🇷 we would not be permitted to build a Christian church there.

[@user-bh8fu9lg8r]

What are u trying to say? Spit it out. They are in the land of the Aborigines.

[@SuperLuckao]

Sourh Africans too now.

[@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.

[@ThemePro24]

Australia's tax policy allows property investors to deduct losses (e.g., interest on loans) from their taxable income, incentivizing speculative investment. This policy encourages buying properties as financial assets rather than homes. Can't blame migrants for that.

[@planetofthepete]

Pauline Hanson has been an embarrassment for decades. The fact that she is still in politics is a sad indictment of Australian politics.

[@anonmouse15]

There can be more than one single reason.

[@PhilInAustralia]

Been like that since the end of WWII. Wasn't a problem until the mid 90's early 2000's when immigration was significantly lifted to deliver the BIG AUSTRALIA policy that both sides of politics support.

[@ainslieberrafella]

@@planetofthepete Pauline Hanson has been correct about absolutely everything. The real indictment of Australian politics is that both our mainstream parties have been lying to us for decades. They betrayed the postwar dream of prosperity and security for financial greed and political ideology. Politicians like Hanson, who cut through the performative nature of Australian political life to speak plainly about this betrayal, are unfairly maligned by journalist on behalf of their political masters. They've been lying to you about everything.

[@CLooLoo]

So where do you expect people to find rental properties if no one owns properties to rent?!

[@JMichael2x2]

The experience of joining with my daughter to buy their first house in Australia was a learning experience and helped explain to me its housing crisis. Every house we visited she was competing with elderly property investors. Clearly the advantages these investors had were so obvious - she was competing against investors that could negative gear their interest costs and expenses, while also rent to person’s subsidised by rental assistance, and leverage off existing housing investments. First home buyers are creamed. Honestly, what kind of politicians setup this kind of scheme, and then are surprised when house prices go ballistic?

[@AusTerranX]

John Howard is the one that changed Negative gearing and Capt Gain taxes. Sadly Bill Shorten was going to change it, but people didn't want it changed and ScoMo won!

[@davidvanderklauw]

what kind of politicians setup this kind of scheme? - The kind that millions of Aussies vote for each election - the Labor and Liberal kind.

[@AusTerranX]

@@davidvanderklauw John Howard started it, Bill Shorten had a plan to end Neg Gear, but the people voted against in 2019. Blame the people that voted for ScoMo in2019!

[@JMichael2x2]

@ - you got that right

[@Tsardoz]

@@davidvanderklauw Yep both major parties have too much invested themselves in negative gearing. That should be the first to go if they are serious.

[@cloudhigh6582]

This is so depressing.

[@tonybloomfield5635]

Right across the Anglosphere poor (overly restrictive) town planning and excessive building regulations have driven the base cost of housing up massively. Additionally, and in tandem, material costs and immigration have exploded.

[@supersurfer1]

The anglosphere is governed by the cabal that is your problem

[@davidvanderklauw]

Yes. Immigration is fast and loose from the federal government and zoning/building is tight and slow from local government. And voters keep supporting both.

[@RomanVarl]

It all went wrong somewhere in the mid-00s. To be honest, it's not unique to Australia. Same problems are across the whole world.

[@davidvanderklauw]

No. It went wrong at around 1970 and the effect only became obvious to you in mid-00s. The timing is a distraction. Don't fall for it.

[@OdinReactor]

@@davidvanderklauw That's nonsense. Are you one of those conspiracy quacks who blame all the world's problems for going off the gold standard? 🙄

[@theendmyfriend]

Started in 70s floating the dollar and then 80s finance deregulation allowing the elites bankers to put the hose into the debt balloon. But yes here in Australia i started notice things turning bad around 2003 -2005 in my area.

[@tulinfirenze1990]

I was talking with an Indian guy the other day who was complaining about the ridiculous cost of rent here in Perth and it was all I could do to keep my tongue and not say, "Buddy - you DO realize you're a small part of the problem ... right???"

[@beeanonymous5032]

They are just temporary residents(unless they have a PR). And Australia collects tax from them. The government must either completely shut the door and stop immigration or build more houses and allow only australian residents to own a house. This will obviously fix the problem but the corrupted Australian government will never do that

[@bEverCurious]

No he's not. The problem is solely caused by people like Albo who own multiple properties and refuse to rent them at decent prices. Do you know how many properties are in Australia that sit empty months on end, because the owner can't get the rent they want?

[@the_Hash_Files]

Part of keeping wages low and demand for housing high and most likely here as an economic migrant on our fake education export visa

[@tulinfirenze1990]

@@bEverCurious That doesn't happen.

[@bEverCurious]

@@tulinfirenze1990 Now I know you're a bullshitter. Look it up.

[@mtrnkbsw-wd3eg]

Looks like life is becoming impossible pretty much everywhere now. What has this world come to?

[@stanrix]

Government needs to stop giving money to people to buy. When NOBODY can afford it anymore, the price will drop. It’s just nature. The prices are absurd

[@HorrorAlgorithm0x1337]

Yes, giving money away in this form only inflates prices more. Instead, the government should increase the allowed density and use taxes to build more transport and utility infrastructure so that private builders can quickly construct more units that rely on it.

[@theanthropocentric272]

what about negative gearing for investors? that's a form of giving, except its 10x worse you give to people who already have to have more. f m*

[@Crocus1979]

Chinese or other foreign investors will then be able to buy houses.

[@AusTerranX]

@@Crocus1979 Only 0.5% of houses sold are foreign investors, Most houses are sold to local investors to Neg Gear. They are mostly older people or top 10% of income earners to use Neg Gear so they don't pay taxes.

[@davidvanderklauw]

Price is a symptom of shortage. Your solution is bonkers.

[@maartenl.1365]

Housing problems while letting in immigrants, is not only happening in Australia. It is happening in Canada (and sleeping outside in Canada in winter is much harsher than in Australia). And it is happening all over Europe.

[@mountaene]

In every white country.

[@clown192]

Get rid of Air BNB, fix the problem.

[@tobybrown1179]

Government doesn’t want to fix the problem is what is happening, same as salary sacrifice tax advantage of buying more than 1 investment property

[@christianbaliko990]

Get a grip. Thats not the problem.

[@ronaldabenthien7189]

YES !!!!

[@clown192]

@@christianbaliko990 Statistics show 19,773 Air BNB in QLD august 2023 most of which are located in the sth east corner. From Noosa to Coolangatta. Stats show at least 10,000 homeless on any given night in the Sth East Brisbane Gold coast area. There has always been homeless for whatever reason. But now with tent cities going up in parks and houses being let out nightly for holidays and short stays, the correlation is stunning and nobody can see it.

[@clown192]

Sorry, I was wrong, the homeless stat on the QLD Govt site is 20,000 homeless. Not 10,000.

We have the same problem in Turkey, mass immigration because of Middle East conflicts and low interest rates during the pandemic resulted beyond belief increase in housing and goods prices.

[@Zortoili]

This is just like a capitalist Soviet Union. Everyone wanted to live in a stalinka building in central Moscow, but that’s for the elite. Everyone wants to live in Sydney, but you need to be rich

[@simonchristopherrule7313]

Cities need a balance of people. If only rich people can afford to live here, who will perform all of the low paid but essential tasks?

[@wrongthink1212]

Yeah, it really is a weird mix of the worst parts of Capitalism and Socialist, to benefit the top 10%-20%....

[@UziMusic]

@@simonchristopherrule7313 Amazon

[@besovereign2032]

so who will do all the jobs?

[@RaacingAce]

@@ucchau173 in USSR there was no real estate market, all real estate was a property of the goverment, you couldn't buy an apartment no matter how much money you had, the state distributed apartments. Apartments could be exchanged with the state's approval. That's why the people who lived in the center of Moscow weren't the richest, but the people with the best connections.

[@l.j.r.8448]

Its not an accident that housing costs in the developed world are unaffordable.

[@misplacedspirit6162]

Definitely didn't just happen by accident, any half assed economist could see the outcome, but apparently not our government, you can't bring in 6.5 million immigrants in 5 years and only build 2-3 hundred thousand houses and expect it to work out well and not strain all infostructure to capacity/breaking point. 🤡🤦‍♂

[@davidvanderklauw]

Not an accident - decades of lazy negligent voting by millions of citizens.

[@christianlibertarian5488]

I have lived in both the US and Australia in the last decade, a homeowner in each area. In the Midwest of the US, where I live now, there is a slow rise in costs, at most. In Oz, 25% in 3 years. In Australia, there was negative gearing, increasing population in mostly the capital cities, and very poor freeways. In the US, mortgage interest is tax deductible, limited or decreasing population, and excellent freeways. Why do I mention freeways? Because it enables people to live farther out, reducing demand on local real estate.

[@haha-eg8fj]

Because there are no jobs out of the capital cities in Australia except for some FIFO mining jobs. Why would people move out of the cities only to commute back to city center to work? There are not enough business hubs in Australia. I heard that the US is built on freeways. I think in Australia this is not the case. In Australia, most entertainment districts and universities are located in or near the CBD.

[@IanLeightonHorsemanship1]

There is not enough manufacturing type industries in Australia. We have been sold out with trade agreements where we are the only ones on a fictitious level playing field. We are so helpless in Australia that we can’t even produce our own fuel. God help us in a crisis like a world war. We will be hamstrung in a couple of weeks. Becoming self sufficient again is the answer to increasing regional employment.

[@Tsardoz]

You realise since USA and Australia are about the same size but USA has more than 10 times the population there is more money for roads? I agree they suck here though.

[@christianlibertarian5488]

@@Tsardoz It is not the money, it is the local opposition. Sydney has been building freeways *underground* for pity sake, in order to get around the local political resistance.

[@besovereign2032]

good points

[@dbrew2u]

The same applies to both America and Canada . Where the Purchasing of Homes is primarily only for Corporate Investment or the Wealthy . No one else need apply .

[@maximusmiles8435]

You will own nothing, and be happy.

[@justinmorrison7960]

Lol

[@theendmyfriend]

Too true. Elites neo feudal wet dream is our nightmare.

[@nscanna2680]

Housing should be a basic human right, not a commodity. Every single issue here is compounded by those who buy up property just to use it as an AirBnB, or foreign investment.

[@user-sp1ri]

yes indeed the government has encouraged the worlds most over priced and rated real estate market, there are now millions of bogan real estate millionaires because of these policies.

[@Crocus1979]

If housing would be a human right, we would be in Soviet Union and communism. I lived there.

[@mrblack888]

You can't make something that someone else has to pay for a "right". Then everyone wants the right and no one wants to pay.

[@justluc8556]

It actually is a human right, it's enshrined in Art. 25 of the UDHR.

[@mrblack888]

@@justluc8556 Well you just wave this piece of paper in the air next time you want this "right" and see what it gets you.

[@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 ???

[@rogermarin1712]

Governments need to be held accountable for this. Tax payers should not fund their comfy retirement, they must be held to the highest standards with severe criminal penalties.

[@krugmeup2162]

You keep voting for them tho…

[@davidvanderklauw]

Or just stop voting for a party once it has done a bad job.

[@dosmatrix4470]

My Brothers rent,here in Western Australia, just went up by over 50% from $380 a week to $580. It's a unit not a house.Homelessness in our town is up ten fold. I've never seen so many people living in cars and in sports grounds and parks.

[@nev7711]

May I ask, what approximate percentage would that figure be against their weekly income?

[@stigmatasw]

Weekly income is about a grand clear, just over on average. Unless your working FIFO

[@HFSAUS]

@@nev7711 around 30-40% for average income earner

[@MickeyDC-om3pv]

Taxes destroy economies. Australia allows massive migration, more than the houses they build.

[@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.

[@mistercut8331]

migrating is hurting us big time it's not only in the housing market - but our roads can't cope they are fast becoming car parks

[@nunofyrbusiness8576]

No it’s not. We have one of the strictest immigration policies in the world. And believe me, you would be screaming at the top of your lungs if we stopped it all together. We would have very few doctors and health professionals, up and down the board. There are not enough trained Australians already here to fill the shortfall. It’s a trade off and you can’t have everything, no matter how high your expectations

[@emma4328-mm2vi]

@@nunofyrbusiness8576 BS

[@gregatkinson5929]

Bad governments/leadership/ excessive immigration. NZ is battling these issue's. building costs have risen massively, same with food, electricity, life is a tough battle for many folks, We are going to need some very smart planning to get on top of thes problems.

[@jayceh]

​​@@nunofyrbusiness8576had* Was 250k, now up to 2.5x that. Same in Canada. We had 3 years in a row of record immigration, 3x the previous the peak. And Trudeau wanted to double from there, but people revolted.

[@bcusaaus4749]

I got a pre approval for a loan but can’t find anything to buy in my budget, always if I find a place I like , I get outbid . Even rents now for crap places are outrageous not to mention the 10 plus people that show up for inspection

[@Cubby9999]

It is not just the housing prices that makes Australia extreme. High income taxes, high cost of energy, everything you can think of.

[@thecookeman]

Most expensive gas this side of Asia? And we export it! All our fuel is in imported in this country. We have vast sites of solar and wind but nothing is talked about nuclear we need base load power for the next generation

[@Cubby9999]

@@thecookeman That's right we have the most uranium and not using it. This is the most insane thing about the politics in this country. Best and cleanest energy but they use lousy wind farms and solar that needs to be replaced every 15 years and don't work half the time.

[@trevorinthailand]

Its a shithole!!!😊😊😊

[@willx6394]

In smaller towns outside the cities, people are getting 50k a year for working, looking at 800k houses or paying 1k a month to rent a crappy house. In the 80s and 90s ONE PARENT could BUY a home. It's insane...

[@TassieJake]

You forgot to mention we all spend 20,000+ a year on food. And 5k on power 😂😂 that's half of the 50k gone already

[@raul824428]

This might be due to immigrants hoarding the properties, I knew a lady who had 10 houses in Sydney. The Asians believe in investing in properties and they are inflating the demand. I am also from asia, but I do believe in owning what is necessary instead of hoarding.

[@LinuxGalore]

Australians are only now starting to understand that insane housing prices also damage Australia's ability to compete on the global market. Australian companies have to also purchase land, if property prices go up it means companies have to assign a large part of their budget to cover the cost of buying land. One of the ways companies compensate is by reducing their size and now many people they employ, or increasing prices. Housing prices are literally bottlenecking the ability of Australia's economy to grow and driving wages down and prices up.

[@theendmyfriend]

yes its a massive suck. All the money goes to bank loans property rent instead of getting spent in the economy helping other especially small business and services.

[@Silkl4sh]

Similar thing happened here in Poland, when government tried to "help" us with 2% mortgage loan, which launched house prices to the sky.

[@tomv7986]

Prices in Warsaw and Krakow are insane relative to salaries.

[@RaacingAce]

The same thing in russia, price 200-300% of 2019

[@CCourts]

1. Cut the red tape and building restrictions 2. No more foreign investment unless as residence 3. Massive tax increases for idle/ unoccupied houses 4. Get rid of negative gearing 5. Increase taxes on multiple rental houses 6. Decrease immigration by 50% or selections incentivising trade skills. 7. Pray it works.

[@persianguy2849]

In Australia you are not a proud person if you own multiple factories and thousands of people work for you and make their living from you. You are not a proud person if you have one multiple noble prices or if you have many inventions that has contributed greatly to human civilisation. However you are a very proud person whom people would bow their head for you and hold you high if you own multiple properties.

[@iwantmorenews557]

It's called a Rentier economy, as opposed to a productive economy

[@griffin1366]

I've never heard this before, only that "youve made it" if you own multiple properties.

[@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.

[@devonflood8232]

I wish I could leave the country now! Australia has lost the plot!

[@cunawarit]

I’ve had the privilege of living in various places and traveling extensively, which has given me a broad perspective on the quality of life in different regions. I’ve lived in both the US and the UK, as well as in parts of the developing world. What you describe resonates deeply, as the UK is currently undergoing a significant transformation. While the country is not officially poor by traditional economic metrics, the lived reality for many in the middle class tells a different story. Here in the UK, the middle class faces conditions that could be described as de facto poverty. Our homes are often small, our cars basic, and our roads and infrastructure poorly maintained. Accessing healthcare is a significant challenge, with long waits to see a doctor and hospitals that are visibly underfunded and run down. The overall quality of life for the average person feels increasingly diminished, especially when compared to the middle classes in many parts of the developing world, where homes are more spacious, infrastructure is improving, and life, in some ways, feels more vibrant and hopeful.