Why Living In Australia Is Impossible

[@2and20]

Like 👍 Subscribe 🔔 Comment 💬 Tell us why YOU think Australia is facing a cost of living crisis. The most insightful comment wins $50 (yes, that's Canadian dollars aka Monopoly money)!

[@2and20]

13:49, we made an editing mistake with the names of Malcolm Turnbull and Scott Morrison, apologies in advance!

[@sumosprojects]

Pretty cactus over here mate, councils put rates up on building owners that have no businesses operating in there shopfronts 🧐😮 communist tactics some say

[@carkawalakhatulistiwa]

​@@2and20Australia Very lucky to be on the border with Indonesia so don't have an immigrant crisis. Australia's position is similar to Canada.

[@carkawalakhatulistiwa]

​@@2and20as an Indonesian. where Indonesians do not immigrate to other countries. 90% of workers who leave the country return to Indonesia after their contracts expire. British people were immigrants to Australia and Canada. seize native land. So stop whining about the immigrant crisis. and accept all immigrants, you are an immigrant

[@ripdoff8549]

my favourite part was where you said we need educated aussie's... we have the #1 most corrupt media on the planet, we're the most propagandised populace in the world. only the newer generations who don't get their news from mainstream sources are aware of this. hence why they're trying to censor what we have access to online so badly!

[@Nf00257]

If you haven't grown up in Australia it's very hard to understand the country's obsession with investing in property. It's like a national sport over here.

[@dodohateswater]

Cos australia has nothing else. Nothing!

[@K.J.H_]

@@dodohateswater We have shit loads of resources and massive mining companies. Some people invest in those too.

[@artmallory970]

*country's (ownership). Also, seems to me most of these people bidding on properties aren't 'Australian', ie Foreign 'Investors'

[@ichow2941]

Same shit in Canada!

[@dankadesign7462]

Sound fun but its not.Single women need to put up with empty men who thinking that's their investment portfolio will spread her legs...and in most cases does as Au women understand Au men.

[@MGsyd]

The scary thing is that when you finally buy your dream house which cost you a fortune, you finally realise that it’s poorly built and sinks and there’s nothing you can do because in the meantime the builder has gone bust

[@gavinlew8273]

Why would builders go bust when there's red hot demand for real estate

[@skipper1350]

@@gavinlew8273 because many wrote building contracts prior to the huge inflation we saw through covid and their bottom line disappeared accordingly.

[@TrecherousMonki]

My roof had no insulation when I moved in. Completely unacceptable for a house build in 2011

[@rory2394]

@@gavinlew8273 crazy high demand for materials, not able to get the materials in time therefore can't be paid, therefore go bust. And the cost of these materials is skyrocketing like everything else.

[@illiiilli24601]

​@@gavinlew8273Poor debt management

[@aussie114]

The system is not broken it's working exactly as intended. Politicians and their mates are richer than ever.

[@testsxxrxxmp]

Oof yep

[@PARTIZANREPORT]

exactly the people on top arnt complaining, but they will i and many men have NOTHING TO LOSE.. so enjoy it while it lasts

[@micahshillabeer106]

So true, because this works for older people or people with wealth... look at every parliament member. The australia goverment is no long a service to Australia but a service for them selves

[@stackhat8624]

Except the ALP in 2016 and 2019 had policies to change capital gains and negative gearing tax policies, two of the main drivers of inflated house prices and you idiots voted AGAINST them. So spare me your idiotic "duhh derppp both sides the same" stupidity. Anyone who thinks ALP and the LNP are the same deserve all the economic pain possible because they brought it on themselves.

[@retardo-qo4uj]

Its not fair to blame politicians only. Most voters are homeowners. Housing bubbles are the easiest way for old people to get easy money. Which indirectly taken from young generation.

[@xkayaaa]

90s babies are doomed here. Finished high school in 2012 with savings from part time work, all these goals and plans; married, kids and a home by mid to late 20s... I'm now 30, single, broke af living with mum and working to pay for rent and food. Don't even start with grocery prices. Boomer family members are all like, "just enjoy the present".... like HOWWW!!!!!!!????? fkn over it.

[@cicerodiello1]

I’m sorry for your generation. I grew up in 70s and 80s Australia. They were happy days. There was a recession in 1989 and it was hard to get a job. Once I actually had one I was able to save because it was liveable and cheap. There was no internet, mobile phones, streaming and such. Everything was cheap. The last four years have been the advent of globalisation. They want you to be slaves. We are in a psychological war and the world is in a terrible state. It really is down to the young people to revolt. However, if they keep using QR codes and obeying he agenda, things will only get worse. There is no opposition and most politicians are bought and paid for. I hope you can save some money to get out.

[@xkayaaa]

@@cicerodiello1 My generation seems uninterested in challenging the status quo. When covid hit, I was the only one at my workplace who refused to get vaccinated. Being healthy, fit, and young, I believed it wasn't necessary for me. Despite my stance, my peers, including those I grew up with, complied without question. I was the only one who lost my job because of this decision. Months later, no one was challenging these mandates, and no one was hiring unless you were at least double vaxed. I had to get vaccinated to survive, not covid, but the system. So that I could merely exist among a weak herd. The pandemic was a pivotal moment for us as a nation to demonstrate our strength, and we blew it. This experience highlighted how isolated I truly am in my views, especially since no one in my friend group seems the slightest bit concerned about the future. Right now, I'm hoping my side hustle will take off and save me. I plan to make enough money to leave this country and start a family elsewhere. I appreciate your sympathy and words of encouragement. It’s nice to know there are generations before us who understand our struggle.

[@ytlurker220]

90s babies? Spare a thought for Gen Z.

[@FuzSiErra]

@@ytlurker220 sucks for both

[@DrewsTurbo]

Greed, selfishness, arrogance, lack of foresight = current Australia. It’s morally bankrupt (and there is no valid rebuttal) to make shelter an investment gravy train. Investors don’t stop at one property, but continue to amass more and more for themselves with endless self-congratulation and arrogant, open mockery of the less fortunate. It’s a system designed by the wealthy, for the wealthy and the shameless price is the lives and livelihoods of those with less means. The only people who don’t object to such a f$&ked up system are the ones doing the f$&king. Investors can stop viewing themselves as more deserving, more intelligent and start taking a long, hard look at themselves in the mirror and know that their financial gluttony is afforded by actively causing grief, pain and financial distress upon those with less means. Property investors who go beyond more than one property are scum. Am I bitter? Yes. Am I right? Without dispute.

[@angryconsultant]

Australia and Canada two commonwealth countries who are plagued by ineffective governments, and some of the world’s worst affordability crises ever

[@2and20]

Super sad. A combination of terrible economic policies and crippling bureaucracy

[@holobolo1661]

@@2and20 You forgot corruption. Most of the high level politicians in Australia move into resource industry board positions within weeks or months of retiring from politics. It's insane.

[@dumdumbrown4225]

How could we forget the mother of all problems - the UK 😂

[@mathelga]

Worst affordability? Been to Asia? Been to South America😅😅

[@MbisonBalrog]

Which is sad cuz so little people.

[@tullymoffat4020]

Aussie here - the biggest issue without a doubt is the tax incentives. A really simple solution is to allow negative gearing on 1 house - that way, mum and dad investment properties are not affected, but those owning 20, 50, 300 houses are not able to snatch up everything available! Currently an investment group can just write off squillians in tax by purchasing more and more properties. In the last census - 10% of all homes in Australia were vacant, tax that shit. We shouldn’t allow people to buy a house and just sit there without having people in it - having a place to live should be a right, not an investment.

[@musicjuly3415]

Total rubbish. The biggest issue is foreign buyers and insane immigration levels.

[@samt8694]

@@musicjuly3415 think recently bill shorten and Peter Dutton was talking about foreign investment and I think bill was saying that it was only 5% or 5000 properties annually that was bought by foreign investors. So overall it’s not a big contributor to the cost of housing. Tax cuts would be the biggest one.

[@JoaoSilva22222]

@@musicjuly3415a copule of decades ago immigration was insane too, we need immigration.

[@musicjuly3415]

People who say foreign buyers only make up a small % don't understand how prices are set in real estate. It takes just single sale at a record price to influence the entire suburb.. two sales way above what a local would have paid and then any new house that comes on the market is priced based on those few sales. The real estate market is currently being priced by foreigners and existing owners simply buying and selling to each other at whatever the prevailing price is with FHBs buying smaller and shittier apartments or much further out or have rich parents. Simple as that. Foreign buyers set the prices. Any % is unacceptable and unfair to FHBs.

[@stsk7]

I agree with everything you said except "having a place to live should be a right". A place to live depends on someone else's labour. You should never be entitled to someone else's labour

[@medianvideos]

I'm Australian, and last year I had to leave my rental apartment in Melbourne. Rent prices soared from around $420 per week in 2020 to $650-$700 per week for a similar two-bedroom apartment by 2023. As a teacher, I was forced to move when the owner sold the property, facing skyrocketing rents with no available options. The situation became so dire that I had to return to my hometown of Perth (after living in Melbourne for 20 years), relying on my cousin's kindness for shelter. I'm still here, where rentals start at $550 per week, and any decent apartment costs between $650 and $800 per week. I had to give away thousands of dollars' worth of furniture in Melbourne and leave my friends behind, completely uprooting my life. This greedy, appalling housing crisis has turned my world upside down, and now I have to start over as a mature aged man.

[@muntjunk-plk3171]

Same thing happened to me in Sydney, I’m 34, earned 115k and couldn’t live a reasonable lifestyle renting a 1 bedroom about 12kms from cbd. Then after Covid the rent increased by another $170 per week lol

[@medianvideos]

@@muntjunk-plk3171 I know man, it's an atrocious state of affairs. People will start fleeing Australia, already are. Also, be thankful you are only 34... I am much older.

[@muntjunk-plk3171]

@@medianvideos age is just a number brother! Never too late to figure it out man you’ll be sweet 🤙🏼

[@zenboy1612]

The greed corrupted the housing market

[@TripppAU]

That's fucked up and I hope you guys are able to bounce back, the future for me as a 20 something aussie is not looking good.

[@rowandowland1391]

I lived in Australia for 61 years before leaving to live in Europe. Australia has mastered the art of speculating on real estate. People are incentivised through the taxation system to invest in housing which forces up prices. The whole failed system is one big ponzi style housing scheme. Australia does not regard safe secure and affordable housing as a human right. It's largely through housing that Australians create wealth and so its extremely difficult for any government to make much needed changes to the system. Nor does the nation understand that safe secure and affordable housing improves peoples' lives, creates strong and more resilient communities and economies. What's more the tenancy laws fail to offer people security and exist to benefit investors. The system has failed and there will be long term social implications as a result.

[@MTD4dz]

I’m a software engineer I earn 140k. I used to want a house and family in Australia. Now I’m planning how I can find a new country to live in. This place is an economic black hole. Politicians will never solve it.

[@MeditateMeHigher]

Right and we don't even think about babies atm! It seems like a dream to me now! 😢

[@TrecherousMonki]

Same. I'm lucky that I bought out in the Suburbs before Covid, but now I couldn't even afford my own house and I'm in the top % of earners for this suburb

[@books4739]

Whinging about nothing. I met an aboriginal nurse on a flight to Darwin who had bought her own house in the suburbs for 40K, did it all up her self and paid it off.

[@paulfri1569]

Indonesia mate 🤠

[@broando336]

​@books4739 you know they literally get trust money?? All paid for

[@BeastMasterNeil]

On average, politicians in Australia own 7 rental investment properties each. Explains a whole lot.

[@elpedro6962]

Source?

[@suncat5160]

@@elpedro6962 "Trust me bro"

[@elpedro6962]

@@suncat5160 😂 looked it up and it was actually an average of 2

[@audiolivrobom]

@@elpedro6962, your numbers seem correct. However, it is essential to recognise that stakeholder groups and lobbyists do not need to be in government to pressure legislation in their favour. Follow the money... Institutionally, Westernised politics has been intrinsically favourable to those already wealthy.

[@exceed.charge]

speculators for every other things: *_scalpers_* >:( speculators for real estate/properties: *_investors_* :^)

[@cynthiawu2126]

There's a common saying here in Australia. "It's easier to buy your second and third property than your first." Which says a lot.

[@hussainpeeth7933]

I'm learning accountancy , if you are citizen of Australia so kindly tell me should i migrant to Australia for my further career in accountancy... What do you say sister ? Please let me know

[@TalkingPoint773]

@@hussainpeeth7933 No stay where you are, you will have problems and waste your money, and time.

[@hussainpeeth7933]

@@TalkingPoint773 why ? And who r you where r you living right now? 🤷🏻‍♂️

[@TalkingPoint773]

@@hussainpeeth7933 I live Pakistan, I pray 5 times a day and stay where I am, living honorably.

[@CandaceDaley]

​@hussainpeeth7933 no stay where you are. We can't even home and support our Australian born families, yet alone anyone else at this point.

[@whatisari]

I moved here to marry my husband and I’m still in so much shock at how difficult finding a rental is. I’m so scared of losing our current place because there’s absolutely no guarantee we’d find a new one in time when there are dozens of people at every viewing. Buying a house? Hilarious, maybe if we moved back to America but certainly not here.

[@zahrioumctobi8491]

❤

[@Cyndie.D]

bEst of luck!

[@briankong7757]

As someone living in Sydney. These are the things i realise. 1. House prices and cost of living is insane and salary will never catch up 2. Taxation system here are meant to never make you rich

[@lockedout8643]

Plenty of rich people in Australia. That's the problem.

[@mauz791]

​@@lockedout8643 corpos and old people buying everything, and scalping everyone. Surprisingly the same in Canada. Sad stuff

[@Mike-pb7tk]

The problem is you live in Sydney 😂 Just go mining and all money troubles vanish.

[@sundayarvos_]

by design unfortunately

[@rc70ys]

Go live elsewhere if you think it’s better. ! Simple I’ve lived in Europe on 7 euro an hour ($10aud) Houses food and utilities are far worse and out of reach than here in Sydney

[@Legalpigeon]

One of the main issues is that politicians still consider high house prices as a sign of a 'great market' despite the fact that it means people can't own their own home.

[@danielwealands7212]

Exactly right, the politicians are completely out of touch with the average Australian lifestyle as much as they like to pretend they arent

[@John2751]

Well it's a "great market" if you've already invested in it

[@r3dp1ll]

Same in the US or Europe.

[@benwilms3942]

It is. It's not the governments' job to give one lonely shit about any individuals' life goals. It's their job to manage the state to the highest gross economic activity. That's why we can complain about these things whilst still enjoying the greatest overall quality of life of any population in the entire history of human kind. When was the last time war came to our shores? Death from preventable disease? Mass starvation? High gun crime? High unemployment? Pandemic homelessness? Religious autocracy? Mass casualties after every natural disaster? Child labour? It's an incredibly easy place to live.

[@macy8993]

Same in every country

[@anomie1000]

As someone who lives in Australia, the housing crisis is out of control, rents have gone up, bulk billed doctors are a rarity now. It seems like a lot of the public services has decreased in quality. Many people now are moving out of the major cities to live in regional towns for a simpler and more affordable lifestyle.

[@2and20]

It’s quite unfortunate. I think many older Australians point fingers and say “young people don’t work hard enough.” But this couldn’t be further from the truth. The system is almost impossible for young people to overcome. Thank you for commenting! Please subscribe as it helps our growing channel :)

[@holobolo1661]

@@2and20 Yeah I know of boomers who managed to save and buy a house mostly from unemployment payments in the 80s.

[@2and20]

What?! That’s crazy!

[@InfinityIsland2203]

Regional life is not that much affordable where jobs numbers and pay is reducing at a record pace as businesses are going bankrupt at an unprecedented rate. Australia is in economic depression and for a little bit more is masked by unprecedented mass immigration propping up overall GDP, credit cards and BNPL spending, credit creation and inflation. In fact, Australia has the highest reduction of living standards in the developed world in the past 2 years.

[@bagg3y]

​@InfinityIsland2203 definitely more of a struggle now where we are in Central Queensland. Just looking at houses yesterday in town and they're asking nearly 500k for a 2 bed 1 bath. That is insane 😳

[@Freedom8ful]

oh please I grew up in Sydney Australia and its so obvious how commercial Ppty has become as an Investment business where Real Estate agents have played a big part along with the banks in manipulating purchase prices, rentals and not to mention banks increasing interest rates. The facts are that there are loads of vacant rentals in Sydney especially in Parramatta area. Rents have gone up due to the realestate agents being greedy along with the banks hence the vacancy of rentals. It has nothing to do with immigration. Population of people was a given considering most of us travel and reside in other countries. Unfortunately, the demand to purchase will be competitive which allows agents to increase purchase prices. I never understand auctions if you pay past the valuations provided. You would have to be a cash buyer to pay the difference. There should not be any homeless and some of these places that are vacant and very old should be rented out for lesser rent to accomodate those who dont have jobs with the income to pay the higher rates

[@Alex_thompson-tr]

The issue is people have the "I want to do it myself mentality" but not equipped enough for a crash, hence get burnt. Ideally, advisors are reps for investing jobs, and at first-hand encounter, my portfolio has yielded over $7000 since last month

[@Anthony_james001]

To be honest, investing is a smart way of securing your family future, grow wealth and beat inflation

[@Davila-r1f]

The key to success is finding a set of rules you can follow consistently. I make an average of $15k per week even though I barely trade myself.

[@Jonathan-c1n]

Most people think, investing in stock market is all about buying and leaving it to rise, come on it takes much analysis to be a successful trader.

[@GeorgeChristensen-vr5xb]

​@@Davila-r1f How can I reach your mentor? I'm seeking for a more effective lnvestment approach on my savings

[@Greyraes]

I'm an Australian in Sydney. When i was 15 in highschool i drew myself a little financial map during a free period and quoted myself a minimum figure i needed to make to move out. I started working service at 16, followed the masses and got a uni degree. Im 26 now, i make much more than my little finanical map figure and serveral times more than my migrant parents at the time they purchased their home. I live frugally and do not vacation. I am still at home with my mother, i would not qualify for a home loan and will not for a very long time. It's been a decade now and none of my friends own homes or are married, many of them have given up on having children in the future. On top of that we are sadled with thousands of dollars of HECS debt that we can barely put a dent in while they are raising the interest. Our landlord raises the rent each year but will not fix a leaky roof. I am exhausted and burnt out after a decade and now contemplating joining my friends on giving up on a family so that i may still try to see the world while i'm still young. I thought i was getting a head start but im watching more fortunate kids beat me while their parents own multiple properties for them to live in. In every aspect i try to save in, monopolised inflation catches up. Now they are trying to collectively push young people off medicare. As awful as it is to say, i feel like my life might only start if one terrible day my father passes and i recieve a share of his property....but even then it would probably be too late for my age. Now which boomer wants to tell me i'm a lazy POS and need to skip the coffees and avo toast?

[@davidlp3019]

If you're making good money and live at home, there's no reason why you can't save up for a few years, get a bank loan and buy a one bedroom unit. You can still get one in Caringbah for $600k ish which is still ridiculous, but if you live at home and save big time, it's definitely possible. I'm earning 85k here in Sydney, 22 just finished my Comp Sci Degree. I plan to live at home a few more years and I figure I can get 200k saved. That's enough for a deposit for a 1 bedroom unit in a crummy area with a loan. I do agree that it's an absolute joke housing in Australia.

[@dandankokorohikareteku2620]

​@davidlp3019 people in Africa don't need so much money and nice house to have babies

[@davidlp3019]

@@dandankokorohikareteku2620 hence why the birth rate in Australia is so low these days. Too expensive to have a kid.

[@yushyushyush]

:< respect tho

[@Greyraes]

@@davidlp3019 to clarify, I don't live at home for free. I pay half the expenses and rent which heavily dents my saving potential.

[@Petrol_Sniffa]

I had an old fella tell me he bought his first house at my age, (I am 21). Said I just needed to work harder. I am a bartender 40 hours a week, I also study at university. And I barely, barely make enough to rent. It's so ridiculous how hard the world, especially Australia has become to live in.

[@MrBrickBuilds-]

With the price of fuel as it is in Australia as well you'd be spending fortunes on having enough to sniff, can't be sustainable mate

[@Petrol_Sniffa]

@@MrBrickBuilds- I just want a quick whiff of unleaded 98

[@rachelbyrne8464]

I’m Gen x. I support you. Australia s political class are extremely corrupt. That old guy is full of bullshit. I am extremely concerned for the young people of our country. I have a 22 year old son. I’m voting One Nation. They actually care about this issue.

[@YouShouldThink4Yourself]

It was no different 40 year ago, You HAD to have 2 incomes if you wanted to buy a home and you expected to be BROKE for the first 5-10 years while paying a mortgage at 13.5% interest rates (or up to 17%)

[@1650ti]

yea i cant afford fortnite vbucks in australia and my parents are getting fined 2 grand from speeding 2 grand to pay off house and 1 grand to bills and 1k to our car loan

[@Suicune-oz4ou]

The sad thing is everyone knows but nobody's going to do anything about it, because the people in charge are exactly the same people benefitting the most.

[@Zei33]

Actually the real reason is that the majority of Australians _do_ live in a home they own. Australia is a democracy and while the majority own their home, the political parties have no incentive to change things.

[@PurplePanda1233]

@@Zei33 The same crooks that run California, they dont care for the average human.

[@MrLunithy]

@@Zei33 That makes no sense, Politicians and their mates are the real reason.

[@torinmurray5134]

People are trying there's just a large number of people saying their not .. aus always guted itself like that ..

[@Zei33]

@@MrLunithy no lol. They’re not. Politicians do what the public wants. The public wants negative gearing. The stats don’t lie. If you don’t own the house you live in, you are in the minority.

[@WalterL-gz5zs]

I worked in a large hardware store as a messenger boy during the 1950s. 99% of the items sold in that store were made in Australia. Very good quality goods. I still have many tools I bought back then. I have an Australian made electric soldering iron that's over 70 years old that still works better than any soldering iron on the market today. I was paid the equivalent of $5 a week. Adult wage was $16 a week. Rents were on average $1 a week. A good quality highest house costs $600.

[@johney3734]

u spent 1/16 of an adult wage on rent? 1 wage? OMG we would pay $15 a week.. rent is more than one wage

[@bigrobsydney]

Australia is in deep trouble. And while it may be the second worst place to buy in the world, it is going to get even more difficult. More immigrants, and less relative construction. We have high taxation, high interest rates, and a cost structure that is baked into the price of all goods and services due to the serpentine rent-seeking holders of real estate. It makes everything expensive here. Young people have all but given up hope. I heard a crazy discussion being told to Mark Bouris the other day; someone working in a cafe would have to work till they were 63 years old to save enough for a DEPOSIT. And then banks wont lend to someone 63 years old, because they cant repay the loan by the time they retire. So, unless you're lucky enough to be on an income that is WAY above the average, forget it. I tell my kids, and every young person I meet, leave. Leave Australia. You cannot have a fair chance at life here, no matter how hard you try. Because the governments of the last 30-40 years have abdicated their responsibilities to the housing sector, and destroyed the future of our children.

[@silkbuttons]

Yeah but working in a cafe has never been a career, that’s what students have been for

[@Ta-da32]

Don't forget the supermarket duopoly that causes insane grocery prices.

[@joshlicht1359]

Well said.

[@huanvincent6020]

Lol cafe

[@bigrobsydney]

@@silkbuttons I think you're missing the point. When average wage earners cannot pay the median price for a home in their area, then a country is basically screwed.

[@zaakiysiddiqui8951]

When a non Australian comments on our housing crisis, now you know we need to sit up and take notice.

[@alreadybanned-pe6se]

It's all deliberate demolition of the society. The government serves a muslim king in Buckingham palace And his U.N Pedo cult Agenda 2030

[@JoeGator23]

I lived there for years. Everything in this video is true... but none of you are willing to band together and stop it. Too busy buying worthless crap, over-priced cars, clothing and food... and addicted to social media and mobile media. Once everyone is dulled down and accepts this as normal, your goose is cooked. I give it 10 years at the most. Good luck to your once fantastic nation; You're not feeling so lucky anymore- it was an inside job.

[@Hangover-ry9bo]

Its always like that here. Only once a scandal becomes mainstream and an unavoidable can of worms to pop out in the open, then its in the news to inform, late.

[@tan89284]

Non Australian's commenting their thoughts on Australian issues isn't new, it's just in the past, Australians response would be a defensive "fck off (we're full)". Now you guys actually listening though lol toolate.

[@rustyfeatherstone93]

I'm an Australian citizen that has lived in Scotland for the last 30 years. I recently moved to Melbourne and the housing crisis is way worse than I thought. The UK thinks it has it bad! Not even remotely comparable. Like the video said, for people under the age of 30, it is unlikely they will ever own a home in the major cities if something doesn't change.

[@Glimmer-t44]

Another big factor is black money pouring into Australian housing from all over the world. The AML (Anti Money Laundering) laws here in Australia are the weakest among oced countries. There were even talks about Australia getting grey listed by FATF. Unfortunately, both major parties are accomplice in this rot. They don't want the prices to stop climbing.

[@thedownunderverse]

Absolutely spot on. It’s the money laundering capital.

[@gnuPirate]

All the pollies own undeclared (on their disclosures of "conflicts of interest" when entering parliament) investment properties!

[@aleksandarverardi3688]

100%...👏👏👏....Indeed....the money laundering in the housing market across Australia is crazy....too many gangsters / overseas mafia buying real estate in Australia...Australia is a JOKE...I work with security, fraud and investigations, I met some people overseas (South East Asia) speaking about how is so DIRTY the Australia allowing high profile criminals from those countries to buy properties in Australia...some of those gangsters facing a death penalty or life sentence, but they found a way out washing the dirty money into the real estate in Australia (by the way I have lived in Melbourne and Sydney, so many empty million dollars houses..WTF???.).....Government, the Real Estate and Property Developers in Australia are guilty for this housing crisis mess...Do not blame only the immigration...The housing crisis in Australia is like a CANCER, just growing and getting worst....R.I.P Australia....🙏

[@TrecherousMonki]

Because they own on average 3 properties each or close to it

[@blank.9301]

@@gnuPirateHow do they afford investment properties before getting the big pay check? Albo was in housing commission….

[@maoliu6984]

Lived in Melbourne almost 28 years ago. Bought a 3 bd 2 bth house for AU$150k. After moved to US, sold it for AU$230k and very happy to make a ‘big’ profit. Now that same house worth more than 1.2 millions on market. My spouse complained me for selling it since the Australia house booming starting a decades ago. I am happy living in US, for that everything is very much more affordable compared to almost all other developed countries. Of course there are down side here in US (safety, racism etc). I missed the old golden days in Australia, everything was cheap, easy going good life, it was really what they called the ‘Lucky Country’ - not sure it is not anymore as I am not living there now. I certainly cannot afford to move back there.

[@noopyx3414]

where are you living in US now?

[@puyopuyo-jx9cj]

I'm a Japanese. Our family visited Gold Coast in 2000. During the travel, we stayed at my sister's, who lived there as an international student. Her house had 3 bedrooms and she said the rental cost was only 730AUD/month. I thought, 'How affordable the housing cost is in Australia compared to in Japan, probably it's because of its vast land' That trip was so amazing and has stayed one of the most precious memories in my life. Today, Japan is well known as a country which has one of the most affordable housing cost in OECD. I couldn't imagine this at that time.

[@ggerdagg]

Yeah Japanese houses are affordable because they build poorly 😅 weak constructions, walls of papers and windows without views. If you want to live in nice property as many people outside japan live in you need to pay more.

[@rotshepherd3817]

Japanese houses are little cages. It's why they're cheap.

[@testicool013]

You don’t have mass immigration

[@Soneoak]

@@ggerdaggyou ever been to Japan? Or you get your info from racist war time propaganda?

[@_rd_kocaman]

@@ggerdaggstfu you’ve no idea. Do you know how many earthquakes are happening in Japan every day?

[@meredithgreenslade1965]

This why my adult kids still live at home. I'm widowed and homeowner. Without their help I couldn't pay the rates and power etc. They in turn can't afford to buy or rent.

[@johney3734]

sounds like you profit from the dispoioain world your generation has provided for there children

[@shaunfox1391]

My father build a home on QLD's Sunshine Coast in 1996, it was a house and land package and he paid around $127K all up. He sold it in 2018 for $550K and in Feb 2024 it sold for $1.1M. My mother bought a 30+ year old home in Brisbane in 1992 for $110K, it sold for $445K in 2015 and today its estimated sale value is between $890K- $920K. These weren't large homes or in prime locations, just standard suburban homes in backstreets. Its no surprise many younger people have given up on the idea of home ownership.

[@BrenMurphy1]

my narcissitic mother thinks she's a property guru. just from riding the boom.

[@bingonamo7520]

Figures are the same in NZ. My home was 120k in 1999 and now worth close to 1 million (in Auckland).

[@arbiiisengineer3437]

It's not just Australia; real estate has boomed worldwide, with every country experiencing significant price hikes compared to 20-25 years ago. For instance, my family bought a home in Karachi, Pakistan, in 2002 for about 2.4 million PKR. Now, in 2024, its value has soared to approximately 37.5 million PKR. This illustrates how dramatically prices have increased over the past two decades.

[@johney3734]

just normal small shoe box... our parents are forklift drivers we are doctors and we can NO WAY live as good as them.. why work hard get education when there is no way to get a good life ? i miss the doll

[@ProcyonAlpha]

Why are Australians obsessed with all these coastal cities? You can still get good deals bit further in.

[@davegiles2120]

As a builder who has left the industry, I will say that the housing situation in Australia is beyond crisis point not just because of high demand, low supply issues. The way houses are built and certified is completely corrupt in all states now. For those who can actually afford a house I HIGHLY recommend buying an older house that was built before corruption became the norm. This problem has arisen mainly due to cheap migrant labour, incompetent building inspectors and a legal system swamped to a standstill from owner complaints. The housing crisis is so much worse than people realise as homeowners are paying top dollar for houses that would have never passed inspection 30 - 40 years ago. Looks like we're following China into a "Tofu Dregs" building industry with overpriced rubbish. I remember thinking that this was a ticking time bomb waiting to go off 20 years ago....now its happening.

[@DrRachie]

It’s the same in the USA. Shoddy building practices, cheap materials, inexperienced or untrained workers.

[@chickenbroski99]

Well done. I'm a Canadian who lives in Australia and the only Australians I ever see covering this issue blame one political party or the other rather than acknowledging the actual structural issues that both parties continue to endorse.

[@antontsau]

both are worse, yes. But Labs managed to be really outstanding in this field.

[@ataraxigrace822]

I think the concentration of our media ownership and our tendency to ‘stick by our team’ have exasperated this. The first response you had was ‘Labor bad’ a sentiment which has dominated our media landscape for decades and ignores that for 23 of the last 28 years, Labor have been in opposition. The election they campaigned on rolling back negative gearing to make housing accessible for all Australians they lost an ‘unlosable ’ election. The election they campaigned on taxing multinational mining companies (many of our resources leave our shores royalty /tax free) they also lost the election. Each time our media supported the conservatives campaign and spread fear and doom and gloom about both a mining tax and rolling back negative gearing. There is also the complexity of being a federation and many Australians not understanding either the separation of powers or how power is shared across state and federal government. This deepens the obfuscation and allows misinformation to thrive. I can’t tell you how many times I have read social media posts of people blaming ‘the greens’ for legislation (or lack of) when the greens have literally never held power in Australia (apparently they are to blame for many of the farming woes faced by rural Australians). Somehow it’s lost on those same people that the farming party (The Nationals) have shared power with the LNP as a Coaltion govt for, as stated above, for 23 of the last 28 years. I believe many of our structural issues have been allowed to flourish under increasingly poor media representation. This has now spilled out into social media campaigns.

[@chickenbroski99]

@@ataraxigrace822 Australia has the exact same problem every other western nation does. Neither of the political parties differ on any meaningful issue. When it comes to the debt, when it comes to printing money, when it comes to negative gearing they both agree. Even so called 'conservatives' locked down the economy and forced draconic rules on people in Sydney.

[@michael1345]

@@antontsau Partisan hack. The problems outlined are true but haven't just suddenly happened but over the last 30 years. The Conservatives have been in power for the majority of that time. Sold everything off. Denied climate change. Destroyed any worker power. The Labor Party has been cowed into submission just to stay in power because at a guess, you have been voting,along with the other wannabes, LNP based on Murdoch's say so. NOW both Parties are standing ineffectually in the face of the problems outlined and the voters are to blame. Well not for long as the Greens absorb more voters from the Left and the Teals from the Right. We all however are in for more pain and I for one resent all those voters who pushed the Liberals over the line every time.

[@gregbourke1500]

Yep most Aussies are a dumb sort of creature it reminds me of the Simpsons episode where the aliens took over America’s parliament Homer gets whipped by a alien for not moving fast enough to make their space death ray and says well don’t blame me I voted for the other alien, time to realise we don’t have elections we have selections vote zero to all of them as it’s all going to the WEF you will own nothing plan anyway…

[@JesterFace9]

Wow you could replace “Australia” with “Canada” in this video and everything would apply. The parallels are crazy.

[@keithmartin1328]

You could replace it with "Britain"

[@garymalone547]

New Zealand too. The last regime, which although full of woke wankers and too gutless for a capital gains tax, did stop interest deductibility and tried to build lower cost government housing, with little success. Interest is now deductible again but at least tax cuts are on the table and they're shrinking the public sector.

[@TC-lk2ev]

@@garymalone547 Aren't they funding the tax cuts with debt though? Seems smart...

[@reuven2010]

you could replace it with a lot of countries in the world right now.

[@CohnmanTheBudbarian]

There's reason for that, you vill own nuhzing and be appy, you vill eat zee bugz or ve vill re educate you.

[@darrellturner560]

One thing that was not mentioned which is (on very good information from someone with over 30 years at the top levels of real estate rental experience) overseas investors buying up houses and land leaving them vacant. Add that into the mix and it increase unaffordability of housing. Why offshore investors are allowed to own housing real estate in Australia while so many other countries don't allow foreign investors to own any land is beyond crazy.

[@2and20]

Ya this is something we honestly should have mentioned. I am quite aware and familiar with it and it was an oversight not to bring it up.

[@chapsnaps1]

Same in the UK. I know people in the Thames Valley who rent and their landlord lives in Singapore. How is this allowed?

[@ahdennis]

I'm a 20 something in Australia and it's becoming increasingly more depressing by the day, as the prices run away from our wages it feels like the goal posts will just keep moving further away... What's the point in trying when investors will never stop driving the price through the roof

[@cm182cm]

Invest in shares and do it now while you are still young. Look for growth rather than already established companies. It's the only way you'll save for a deposit

[@ozzyweaboo4879]

@@cm182cm even with a deposite interest rates are so higher you need a high salary 60k+ to pay back the loan fast enough to avoid paying excessive interest and losing money on it.

[@ozzyweaboo4879]

Facts I have given up on buying, my father owns property that has soared to 1mill just gonna keep my relationship strong with him and pray I get it when he passes.

[@victoriatracey5919]

Born and bred Aussie here, come from Victoria, lived in WA and have lived in Tasmania for 25 years. After my husband died suddenly 4.5 years ago I had to sell the home we were buying in Hobart because I couldn’t afford the mortgage and moved to a rural town with a population of around 300. Very rural. I was able to buy a house outright from the sale of my other home. I know I’m one of the very lucky ones but in saying that I have to travel 1.5 hrs to doctors, hospital and any shopping. I’m on a pension but still am out of pocket quite a lot to see my doctor, no bulk billing and the cost of fuel is insane. The general cost of living in Tasmania is higher than mainland Australia and we don’t have the competition here so food etc is monopoliesed by a few. We don’t have mains gas on most of the island so its electricity and the price of that has increased so much. Housing prices here in Tasmania have gone through the roof and our homeless population is growing rapidly. This video is correct, our once vibrant wonderful country is being run into the ground by greedy corrupt politicians that neither care for our country nor its people. They are all in the pockets of big corporations and overseas investors. I’m saddened that my grandfathers and father fought for this country to have it destroyed by these evil people ☹️

[@whophd]

I got off the mains gas here in Sydney. For the price of a second-hand car you can make your electricity bills zero, and for the price of a cheap new car you can make them negative forever (basically in reverse, $200 a month income). Automatic buying and selling with Amber wholesale power, check it out.

[@Azaelris]

I'm sorry for your loss 🫂

[@CastorRabbit]

From WA and bought in Hobart in 2017 as I watched the last affordable houses in a capital city start to evaporate. I knew it was only going to get worse. Pay here is lower and I have no friends but my main responsibility is keeping a roof over my family so I don't regret the move. I do occasionally have to watch a video like this to reassure myself I made right move. I got there in record time today.

[@whophd]

​@@CastorRabbit Yeah the only tactic that works (worked?) is to get a mortgage ASAP for something tiny. Then leverage 2 or 3 or 4 times selling up the ladder. Unlike when Boomers were young, you can't buy a family home for your first mortgage - and especially not single-income. Naturally, the Boomers push back that "family home" means something gloriously huge now, and for the most of the 1990s-2000s-2010s. Yes, houses were more modest once. But the combination of commute time-to-work and size has gotten worse, when divided by salaries.

[@CastorRabbit]

@@whophd It's a four room family home. I used my life savings and bought the house outright. Three years later, the house had doubled in "value". The effect this had - - My rates went up. - We can kiss that tactic goodbye, this was the last captial city you could do that in and that ship has well and truly sailed.

[@chicken2285]

I love the fact that you pointed out that you can't blame one government. Everyone usually blames it on the current government when in reality, if a new government is voted in it'll most likely still not be fixed. Great video

[@didi5741]

the greens got it

[@bradbradson4543]

Yes, but... Politicians can't just flip a switch and fix it. That we have one party that consistently aims to entrench free market capital into our economic and political system - it's not hard to see why we're in this position

[@patrickwilliamson29]

@@didi5741 I used to be a greens supporter but they've also lost the plot. Still not a fan of the major parties but the greens are pretty shit these days too

[@l.p.7585]

@@didi5741 Lmao found one. imagine having literally no policy. oh wait, you don't have to

[@wtf22playa56]

True, LNP get in they dont do much, and when Labor gets it they make it all worse

[@j6453]

Another massive problem is that negatively geared landlords are LOATHE to make even necessary repairs. They don't want to pay for anything on a property they are already losing money on! Huge problem with mold in Aus properties too.

[@ladybirb]

Try being an owner-occupier in a building dominated by slumlords. When a basic maintenance issue arises, I have to nag and beg with strata for months to get it fixed. I feel like beating my head against the wall.

[@vndk8r]

@@ladybirb I feel that having to deal with strata boards is a reason why people prefer detached housing.

[@leonardgibney2997]

It's the same in the UK and North America. Huge increases in housing costs but not in wages.

[@rayosullivan4398]

WTF UK and North America, like their the same, your talking a bunch of Bollocks, just the US is like 50 countries, and houses in Mexico are cheap might be a pile of shite but cheap.

[@Taostlord]

I have been living in Australia for just one year for a Master’s program and will return to Germany in 2 months. Therefore, I only had a one-year lease in North Melbourne. If I had stayed, the landlord offered me an extension of the lease at 15% more than I had paid before. Even though I was here for such a short time, I felt the fundamental change in the property market. If I had come just one year later, I probably wouldn’t have been able to afford the Master’s. Australians are such friendly, honest, and hard-working people that Germans could take a leaf out of their book. It hurts that politicians so often forget our young Australian friends. I sincerely wish them all the best.

[@PurplePanda1233]

People with a masters degree not tell you about it challenge **IMPOSSIBLE**

[@GatherYeRosebudsWhileYeMay]

The irony is as someone who grew up in Australia and worked in Germany I genuinely think Germans were much harder workers, honest and reliable than their australian counterparts. The thing that Australians have going for them that I think paves over a lot of things is the fact they generally are very nice. Being nice doesn’t cut the cheese though and living here I feel a change economically and culturally. A unique brand of idiocracy if you will.

[@mikespike2099]

Social systems in many Northern European countries is a lot better than here!

[@athenaexclamation4167]

you are lucky to find a rental that accept int student…. my agent would by default filter out student applications…. hope u enjoyed ur stay

[@athenaexclamation4167]

@LumiaFenrir-nn2pz look for someone looking for sharemate, dont try rent yourself …

[@its.kirakira]

as a 19 year old uni student in Melbourne, it's exhausting and almost impossible to be approved for rentals. it's ridiculous. everyone deserves a place to live.

[@carbonharmonics]

Nah not true, if you can't afford to live in Australia , go live in another country.

[@dimitri9496]

@@carbonharmonics Let's see how that goes when skilled young Australians use their talent overseas rather than their home country, then we complain about how we have to increase immigration to compensate for a pathetically low birth rate due to these housing prices.

[@kzbb9977]

@@dimitri9496💯 then our economy will actually tank. We have nothing to show for this countries besides overpriced houses. Houses don’t build our gdp.. skilled people do.

[@Jefferey04]

Stop being a uni student in Melbourne then, go get a trade or marry a tradie

[@kzbb9977]

@@Jefferey04 where are we supposed to get more higher ed professionals in industries? You know the ones that actually move the Australian gdp forward and drag us out of the stone ages? Doctors, scientists, researchers, technologists? If students can only afford to work in trades that will have far reaching consequences for everyone, your children especially.

[@scaryteri8]

TLDR; Cost of rent and healthcare expenses is creating a broader dampening effect on Australian quality of life as a whole. As a Canadian who moved to Australia in 2009, the most disturbing thing in addition to the housing crisis is the degradation of universal healthcare. In the last 2 years, we've pretty much lost access to no-cost doctor's appointments (it's $40 per health issue for a 15min doctors visit, 80 upfront and you get 41.40 back from the gov't Medicare system). Now add into that that after the age of 31 you are required to have private hospital insurance. Which is so expensive to get the silver, gold, platinum tiers that actually provide decent coverage, that you get the silver then every time you claim - like American insurance companies - they fight you and try to deny your claims and there's a gap to pay, which can be 1000s. Last year a guy in my team at work rolled his ankle and needed surgery, he could have gone public - but if you're middle aged you're literally expected to use your private coverage. So he did, and he end up having to cancel his family's vacation that year, because it's going to be $2-3K gap with his insurance. He chuckled and said 'Oh well, I won't be able to run on the beach anyway for awhile!'. If he hadn't lost that money on surgery, I know he'd have sat on that damn beach just fine. For my part - I've had 3 major surgeries at no cost through the public system, but for one of those, I did have to wait 6 months and it probably worsened the condition, but to me, saving $5-7k (cost for gallbladder removal private hospital) was worth the suffering. People wonder why bars are empty, travel and tourism is down domestically? Rent and increase in healthcare costs and anxiety about possible healthcare costs, which keeps even young people at home, becasue they know they need to save for emergencies - means a less vibrant society. See the music festivals cancelled in Australia this year - and this is a country where festivals used to THRIVE and be a major social thing. As for rent, it used to go up just $5-15 a year, depending on the area. My rent went up $100 a week so $400 a month this year. I'm told by my asshole Property Manager with dollar signs in his eyes I shold be GRATEFUL my landlord is so kind - other 1 bed apartments w/1 carpark got theirs raised $125 or $150. I keep wondering, if they raise it a 100 every fucking year - what will I do? I'm a white collar professional, 41 years old, who may have to move into a sharehouse again?? It's disgusting. It's insane, and I feel like it's only when enough middle class families are put in the streets that we will have some kind of pitchfork style revolution. It can't go on like this.

[@Reindeer_jay]

You aren’t “required” to have private hospital cover?

[@scaryteri8]

@@Reindeer_jay Well, if you don't take out private hospital (not extras) insurance by the age of 31, the Australian Tax Office will charge you the Medicare levy, so that is taken from your tax return. You're penalised 1000s just for not having hospital health insurance. AND for every year after 31 years old you fail to go to private insurer and get hospital insurance - when you do finally take out hospital insurance, for every year after 31 you didn't have it, the insurance company gets to add 2% to your new insurance premium cost each month. www.ato.gov.au/individuals-and-families/medicare-and-private-health-insurance/private-health-insurance-rebate/lifetime-health-cover So let's say like me, you didn't take out insurance until you were 37, (2% x 6years - 12%) now your insurance company (gets to charge you the normal montlhy rate PLUS 12% more for I think 10 years? They do stop charging you the extra 12% eventually - but it's a penalty you have to pay. It's a literal monetary punishment for not taking out hospital insurance after you turned 31. As a Canadian this disgusts me, we have nothing like that in Canada. We do have private insurance, but it's not mandatory whatsoever. But since I built a life in Australia and I do love it here, I will deal with this bullshit - but it is bullshit.

[@BananaArmsMcNess]

@@Reindeer_jay the system is skewed so that if you earn over a modest amount and don't have a certain grade of insurance you pay an extra tax (but no extra healthcare), and if you decide to start paying insurance some years after 31 you pay an additional 2% on top of you premium for each year you are older than 31 when you start taking out the policy; so no, you're not forced at gunpoint but you are very much pressured into the stupid system.

[@BananaArmsMcNess]

An ex of mine worked at a health insurance company. She said never tell the hospital you have health insurance if you go in unexpectedly because of the gap. Why am I wasting $ on this every month?

[@scaryteri8]

@@Reindeer_jay Look up Lifetime Health Cover Loading and see the other comments on this thread. It's essentially forced on you. As a Canadian I find it totally insane that if you don't take out private hospital insurance at 31, every year you don't have it, when you finally do take out the policy they can force you to pay a penalty of 2% for every year you didn't get it. In my case, I waited till I was 37, so I had 6 years of loading, and the first time I took out hospital cover they happily informed me my policy would be 12% more for 10 years. If you don't take it hospital cover ever, and you ever make over 80 or 90k a year - you get hit with the Medicare levy. 1000s off your tax return. So yeah it's not strictly mandatory exactly but they do eventually force you into it if you ever get a decent job that pays over 80k. Which isn't much anymore when 2000+ per month is the minimum rent, and your health insurance is $180 a month for a basic plan.

[@SwordQuake2]

It's always fucking real estate... No family should have more than one home and companies should be banned from owning housing.

[@rayosullivan4398]

I agree i'm single and going on house number 4 this place rocks super income,God bless Australia i love it, going to start buying some condos soon, i say yes can't stop talking about it.

[@thecookeman]

Do a video on mega corporations not paying ANY tax in Australia...

[@testicool013]

Ahh more tax, that will fix everything

[@BTBSean0]

@@testicool013 Not "more" tax ..FAIR! tax . close the bloody loop holes

[@TheHoonShow]

Shit is this true? I might want to move to Australia now… Germany is too high

[@testicool013]

@@BTBSean0 what loop holes

[@hrausss]

quatar is the worlds largest exporter off "natural gas ". Australia is know larger. Quatar collects $725 billion a year in tax from the gas exports gess what australia gets LESS THAN $2.8 billion The tax system in Australia benefits the mega wealth and destroys all Australians quality of life there is many more examples of the tax problems in mining .the union leaders are so corrupt and the un educated workers follow the bullshit talk of job losses .

[@Jnr079]

As an Australian, this is a SPOT ON summary. It pits my stomach with rage, because our Gov does NOT reflect our people. Like SO many other nations we are plagued by NGOs, Orgs and Management firms who lobby for Big Business. It shorts the democratic process. Y'all will some bad things about our history, but we're all pretty laid back people, work hard and love foreigners... just like every other nation on Earth ❤ Some people obsessed with finance, Just, want, MORE.

[@2and20]

Thank you so much! It means a lot to see Australians resonating with our research. Hope to see you in our future videos!

[@KoDeMondo]

You don't need an Oxford degree to understand that if you mindlessly give away money for ten years, encouraging people to go into debt, and then suddenly do the exact opposite, the country will go into disarray.

[@teravolt1195]

Australian? Y'all? Sounds like an American to me

[@TheRubberStudiosASMR]

The greed in this country is revolting. A whole group of people who couldn’t give a shit about the rest.

[@exadeci]

The laid back is the issue "She'll be right" doesn't do shit

[@shoti66]

As an Australian I find this to be a fair summary. Now try convincing all those investors with multiple properties to get rid of negative gearing and the capital gains tax concession. Good luck. You're going to need it. And yet, if we don't do something, it will literally destroy this country.

[@2and20]

Thank you for commenting! I agree with you. I’ve very pro business but speculating on real estate is a slippery slope.

[@Yolo942]

You nailed it except I would say that the country has been destroyed already.

[@yt.damian]

Let me put two counter points to this. 1. Capital items have been bought with money that was already taxed. 2. Pretty much every cause of property/assets increasing in value are controlled by the government - particularly inflation. Inflation is seen in two ways - inflated prices or lower purchasing power. Inflation makes the asset "worth" more in dollars but these dollars are worth less. And then you tax the sale on top of that? If the govt decided to let inflation run and tax me more on my income I would be pretty pissed. Asset growth is largely a symptom of govt policy but you want to punish the asset owner instead. The only way to "fix" the issue is to build substantially more property and all of that increase in building should be smaller, lower cost housing. If I could buy a cheap 30m2 studio apartment or a cheap 55m2 2 bed apartment vs renting for ever Ill have the small budget property thanks. 400,000 studios, 300,000 2 bedders and 300,000 3 bedders (ADDITIONAL) would have many effects. It would take the heat out of the market, it would make more affordable homes available to more people, it would significantly slow the rise in values of more expensive properties. It wont happen though. It is a massive task - we dont have the labour force to do it. We would need to change zoning laws and we would need to build out more transport infrastructure. If it could be done in 10 years though it would completely change the landscape.

[@ruidean72]

Remove negative gearing, and mum and dad landlords will sell their rental properties and they will be bought by corporations, who will use all expenses as deductions, and rents will skyrocket even more. Main issue is immigration. 750K to 1 million per year is unsustainable, and local Australians competing with wealthy migrants who have high paying jobs and wealth to but the properties. Not enough schools, public services and medical services for Australians if we bring in $1million migrants per year. Also many Australians choose not to work and on welfare, but plenty of jobs around. Sydney and Melbourne, Australia's largest cities only have about 4-5 million people, so we are migrating almost a quarter of a Sydney or Melbourne to Australia every year.... This does not add up to a good housing situation. I only earn $100k per year and only one working in my household, but we took a RISK and invested in properties, and recently sold a few and have over $1million in the bank now.... Interest we now earn on that is over $50k per year with current high interest rates It is all about decisions. Plus many older Australians will start dying soon and their properties will go to their children, so they will be able to gain wealth there. If your parents have been on welfare for most of their lives and renting, then that is bad luck for you.

[@ruidean72]

@@yt.damian I agree with you. Too much whinging in Australia at the moment, and blaming small property investors who are reason rents are not higher. Imagine if negative gearing removed, and they all sell their properties, it is corporations who will buy them. At least small investors do care about their tenants more. We could of increased our rent by so much more, but we didn't because our long-term tenants we care for also. Inflation and huge immigration numbers do not help, as 95% of migrants that come here, are already wealthy and bring their wealth from their home lands, and can afford to buy a house, and willing to work hard or already very educated and high earners. They don't have Art degrees, they have degrees in professions that pay. Imagine how landscape will be when AI starts taking away most jobs. I am glad I invested in property early, and My parents in their 90s also have loads of property and wealth which we will inherit too. When making financial decisions, one must think of their children's future too. Finally, Politicians are big property owners too.

[@potato1084]

0:42 I’m so surprised London isn’t on this list. Average wages are £44k a year and the average house price is £950k. Most people need to settle for apartments but that’s about £500k (12x for a single 6x for a couple meaning you can’t get a mortgage unless you have a deposit over 20% or more.) I’m not giving up and there are cheaper apartments (£350-400k) especially on the outskirts/commuter towns but it’s BAD here.

[@iansutton3176]

One thing that you have failed to mention is the billions of dollars that are laundered through property here in Australia, you only have to attend an average auction to see the "buyers representatives" that are out biding all the people present on behalf of their criminal employers!

[@bebbykhan7919]

We were first home buyers and the only way - I kid you not - we could secure a place was through a buyer's agent.

[@lordgoofus2364]

Funny how tranche 2 AML still hasn't been rolled out. Wonder why...

[@kristinab1078]

I'm not even Australian and I find this situation incredibly frustrating for the younger generation and future generation. What a way to destroy a country! It seems to me the current land owners and politicians care nothing about the long term prosperity of their own country. It's all about the here and now and what some can gain at the expense of others. This is bound to lower the overall quality of life of the country.

[@MT-oo3cc]

Yes indeed, slightly gutting 🤢

[@ryanpzy9336]

Yep. As a Gen Y Australian i mean nothing. Who do they think is running this country going forward?

[@paulfri1569]

Thankyou 😊

[@Varocka]

for many years now ive been frustrated with both governments, we had the natural resources to bolster our economy but we wasted it instead of investing in domestic innovation and as shown in the video out GDP "growth" is abysmal, we've been sitting on our laurels and watching our country waste away in an attempt to keep the old folks from getting their knickers in a twist if we touch their housing investments.

[@libertatemadvocatus1797]

@@ryanpzy9336 They don't care. They'll be dead. They'll sell their house to an investor for 6x what they paid for it; go on a world tour, live in a nice retirement village for a few years and die.

[@renderinginprogress]

reason why I left Australia 5 years ago. Moved to Europe, met many Aussies who have done the same. And we're all very happy here :)

[@simonrechner9395]

left in 2002. its a shithole

[@Purplelasagna6754]

What are your reasons Simon​@@simonrechner9395

[@frensbuzz6852]

where are you now?

[@Purplelasagna6754]

@@simonrechner9395 what were your reasons

[@simonm1447]

Tried to live in OZ in '23, with a permanent resident visa. Unfortunately it would have been impossible to buy a property except for regional or outback regions. Easy in Broken Hill, but impossible in a circle 100 km around the bigger cities. Even some fields in the blue mountains which are out of zoning for buildings should cost 600k AUD. It's a beautiful country, unfortunately I had to return to Europe after 1 year.

[@yellowbird5411]

I think that the growing homeless situation is going to bring a major change in how we see "housing." Many work two jobs to cover the rent on an apt. or house they are only in to sleep and shower. Why pay $2,500 a month for something that isn't yours, and you are seldom there? Same with a new car. Why buy one, when it sits in the hot sun/snow in the parking lot of your office building all day, and the only time you need it is to get to work to pay for it, and go grocery shopping every couple of weeks?We are learning that we don't need these behemoth bills on things that no longer serve us. People who are moving into their vehicles, RV's, vans and etc. are ahead of the game, and are teaching us that we don't need much. They may pay $100 for a storage unit to keep their stuff, and they can go there whenever they need to rotate or renew their belongings. The rest of the time they stealth camp in their car, or pitch a big tent somewhere. Small, mobile units must make a comeback, and land and designated space must be created to accommodate small residential mobile units. Zoning that will allow a single family home can be changed to allow the homeowner to enclose and rent out a porch, a shed, a detached garage, etc. that can be rented out at an affordable price. We cannot continue the way it's going, because too many are in danger on the streets, and are sleeping under bridges. Our shelters need improving, and we might take a page from Japan where they have "pods" that allow sleeping, working, resting, eating, etc. Showers are down the hall. They charge about $48 a day for them, no extra expense.

[@markrigg6623]

Houses here are for manipulating wealth, not for living in.

[@mkf628]

greed

[@andrewcheshire244]

Nah mate the dream is not fading, it is DEAD. It's over. Zero hope of ever owning my own home. I'm actually considering building a bush hut on crown land in protest. They can find it and break it down and I will build another, and another. There are still ways to live for free if you are prepared to leave some comforts behind.

[@jaylamo]

i know this sounds like such a uni student thing to say, but it is actually insane that you can't just build your own shed in the middle of nowhere without the police forcefully evicting you.

[@hardoff]

@@jaylamo Lol, it's way worse than that. You can't even put a big shed on your own property without approval.

[@JohnGardnerAlhadis]

I'm so damn sick of paying through the nose to live in a crappy one-room apartment. If I _could_ build a log cabin in the wilderness, I damn well would. But, like old mate said: our government are such tight-arses that you need approval from both government _and_ locals if you want to erect a bloody shed on your own property. It's bullshit.

[@gureno19]

​@@hardoffnah, most state planning departments have abolished LGA approval processes for granny flats on private property due to the living crisis. Meaning you can build a granny flat now with no permit.

[@quicksilver0201]

Van life?

[@blackie75]

It's interesting that Airbnb wasn't mentioned as part of the rental crisis. We live in an area of the country where there is almost zero immigrants, and 10 years ago half the town was either for sale or rent, but now every home has been purchased and turned into Airbnb and it's the same in surrounding towns. The government changed the laws and restrictions surrounding Airbnb somewhere around 8-10 years ago and it's having a massive effect on the availability of rental properties everywhere in the country.

[@fejgul]

Less than 2% of the housing stock is used for Airbnbs, which is c.a. 160k of the 10m dwellings. In contrast, the current migration intake is 2% of the total population each year (!). Using an average 2.5 people per dwelling metric, Australia would need to build 200k new homes just to cater for the incoming 500k permanent residents each year.

[@blackie75]

@@fejgul I'm not sure what other Australians would say, but I can assure that in my area it's having an absolutely massive effect on rental accommodation. There simply isn't any and I can assure that Airbnb is the reason why.

[@andrewst9797]

"Absolutely massive effect" That's simplistic thinking.

[@blackie75]

@@andrewst9797 I used that term because the problem is affecting the entire state and I don't imagine that other areas of the country are immune.

[@dennisotter9063]

@@blackie75 AirBnb definitely disproportionally affects certain areas. Jindabyne for example is a regional town that sees very little migration, but has been hoarded by investors running Airbnbs that make it totally unaffordable for locals/workers to buy or rent.

[@QuentinWatt]

Message to all those living in expensive countries: Come to South Africa, the housing is cheap AF and we need your skills we'll be super grateful to see more median taxpayers coming into the country.

[@ElectricSwordFish-i4k]

Will I need a gun license and armed security to walk to the pub at night?

[@nonotthaone]

You can't expect politicians who own multiple investment properties to lose value on their net worth by passing bills that will ban negative gearing...

[@user-xg6yc8ho3w]

There obviously aren't many noble people left in modern society.

[@MuffFlux]

@@user-xg6yc8ho3w Not at the top anyway. And the nobility of those lower gets wrung out of them through having to take part in system run by those at the top, rewarding corruption and callousness.

[@ammarX09]

Imagine having an entire continent to yourself and still have trouble finding a place to live.

[@jma9003]

Sure when the young have never had to go to war, or to grow up and refuse to live in the suburbs and will only live in TRENDY suburbs.... yeah so rough 😂

[@Kofogt]

[@--delirious--4136]

imagine only the coastline is bearable to live in

[@janececelia7448]

In Oz, you have to cling to the coast because the rest of country is desert. People live in Alice Springs though I don't know how.

[@lm_b5080]

@@--delirious--4136 and even there you have crazy dangerous creatures trying to kill you

[@MrSuperOurs]

French here, living in Australia for the past 5 years. What baffles me here is how stupid politicians are. They very rarely have any educational background to support the economic intricacies of policing a country. It's very often populist who are elected, feeding off the unstainsble promises to rich people/home owners. If Australia was a person, it would be a boomer/Nimby, who are essentially the reason why there's a massive cost of living crisis in most developed nations. They want all the perks, without having to give much back for the greater good.

[@wiohrwqihr1329]

Are you surprised? Australian politicians are descendants of British crimminal convicts that got banished into an island. Australia and Canada are third world countries disguised as first world.

[@MookMineola]

I’m sorry to learn of your troubles

[@PencilProper]

You are very right. Thanks

[@davideyers9405]

There's also the millennials and gen z's that whinge it's too hard, want hand out's instead of working hard and won't move to places where housing is affordable like earlier generations did.

[@stevemann3375]

Explain wanting all the perks, without giving back.

[@HoorayForFreeStuff]

As someone who has seen DOZENS of rental properties (to live in, not as an investment) life has never been bleaker. It is straight up impossible to find a place to live in terms of affordability and demand. The greens party is the only party that has offered a comprehensive plan for infrastructure and housing, and doesn't have most of its members using housing as an investment to be safeguarded. I'll definitely be voting for them.

[@tegannorthwood1891]

I was a Greens voter until Covid…when they pushed for a certain mandatory ‘health’ intervention...

[@johney3734]

@@tegannorthwood1891 shut your face!!!!!!! OMG we have no homes and u are still going on about crazy stuff OMG

[@johney3734]

i w2ill vote green.. labor did not fix this they made it harder and libs are bad people

[@Jojoxxr]

Yep can confirm, I live in Sydney and will be nudging 150k for my yearly wage and can’t afford to live here. In other words, legitimately clearing 2k a week, that’s equal to 104k clear cash for this financial year and it’s not enough to live here. So I’m out, leaving Sydney over the next few months and moving back with family in Melbourne 🤷🏼‍♂️ The result is that Sydney and most of NSW is losing young highly trained and skilled people, only to be replaced by cashed up immigrants or new arrivals that are happy to cram 10 or 20 people into a single dwelling. The birth rate is also plummeting and at record lows due to the non availability of adequate housing, unless you’ve got 2M plus to spend. Government’s solution is to crank up immigration causing more pressure on housing and so the merry go round continues at the circus. Throw in local and foreign money laundering amounting to hundreds of billions of dollars that’s pouring into realestate, and most politician’s extensive property portfolios, your average Aussie hasn’t got a hope in hell. Basically we’re all fucked here unless you’re a multi millionaire 😕

[@TheRubberStudiosASMR]

This place won’t be the old Australia much longer. Might as well give the reigns over to China or India

[@endakis1]

yeh nah

[@tanthaman]

Keep crying

[@emusaurus]

If you can't live off that, you're doing something very wrong.

[@Gantics-Antics]

​@@emusaurus He can live, sure. He won't ever have enough to buy a house though will he? This guy is in the top 8% of all earners in the country, and he has zero chance. Think about that before you make a dumb comment. Shall I break it down further? The median house rate is 1.7 mil, if we assume he has a median rent then if he manages to save every penny of his leftover earnings (not including the cost of living) it will take him 26 years to pay off a mortgage. And that is NOT including the interest on the loan (which is currently > 7% per year) , his groceries, car & fuel, insurances, etc. It is IMPOSSIBLE to own a house in Sydney, even on a ridiculous salary like 150k.

[@nickthehill]

you're all getting it wrong, its not that these govts are ineffective and this outcome is unexpected, the reality is that the land owning class is also the ruling class and theyre setting up rules to benefit themselves

[@brucethomas5123]

Prime minister owns 3 or 4 houses ?

[@nickthehill]

@@brucethomas5123 his donors own entire neighborhoods

[@kingsanchezde691]

whats so bad about that, they, bought it fair and square.

[@HiNickCares]

The government has massively increased migration to try and increase taxation to pay future pension obligations.

[@rustyfeatherstone93]

@@kingsanchezde691 its fair for them. Not for anyone else.

[@blackdox3002]

Australia has become a bleak place, you can see the financial stress impacting so many. The government is squeezing one segment of the population to the death, all in the name of curbing inflation.. Why not an approach which doesn't only target the vulnerable, such as a variable GST indexed to interest rates? Inequality is increasing rapidly, homelessness becoming common and the 'lucky' country looks to have run its course.

[@Marc-io8qm]

Disagree about inflation. Inflation is caused by the government policies. Immigration is insane now and destroying a once fun optimistic society. Interest rates should be much higher but since the propertocracy is in charge they are not raising fast enough. The entire system is based on a Ponzi property market which boomers are enjoying while they are flooded with Indians and Chinese. It is gone.

[@trevorinthailand]

@@blackdox3002 it was never lucky, always an arsehole place

[@JF-xm6tu]

Because they want to tax only the poor. The rich need new yachts

[@mandaj2rx]

Australian born to Aussie parents. This country and it's politics are absolutely f**ked. It is an utter joke. I have zero debt, a bachelors degree, 2 grad diplomas, earn a good income, and the idea of ever affording a home seems completely hopeless.

[@buda3d2007]

20 years ago I could live in cheap share accomodation in any suburb of Sydney, now its impossible, I feel sorry for kids who want to leave home and start life, its a nightmare currently

[@michaelwhite6614]

Yes, studio apartment in Manly on eastern hill $250 per week in 2004, share house on Queenscliff headland 2004-6 for $100 per week.

[@Tyler_Mayhem]

As an early 30s aussie it is straight up impossible to own a home doing a normal job. I've never felt so helpless

[@ciarandevaney385]

❤

[@callumwells]

I’m in the same boat as you mate. I feel the same.

[@richardtomainoceramics2812]

Hang in there mate, this is a generational challenge we've got to get through. Blokes like this and Punter politics are calling bull on this system and people are getting around it

[@masterkc]

@Tyler_Mayhem yup...if you work a normal job, it's pretty much game over.

[@jamieknight2139]

It’s actually cooked what’s happening to your country. It’s a big reason why lots of Aussie’s don’t wanna be here anymore. Cost of living is driving everyone into the ground.

[@kleeblattchen38]

6:07 as a european i can only smh... it really shows how people from countries where urban sprawl is the norm (like australia, the us, canada, south africa etc) just have no clue and are oblivious to the downsides of car dependent and spread out suburbs...

[@christopherhinkel8274]

I'm a yank that lived in Cheltenham (Vic) 2012-2017. From what I saw when looking to buy a house, some Chinese dude would usually show up to the street auction and outbid the top bidder by $10K at the last moment. Disenheartened, I gave up and then decided to move back to the USA. I'm sorry to see what happened with real estate in Oz, but I'm actually glad to have left.

[@hamedhosseini4938]

Yep sounds about right

[@JF-xm6tu]

Why do we allow our leaders to be old boomers with endless greed

[@callumwells]

My ex and I rented a house in 2020 in Sydney for $650A per week. When we separated, she stayed in the house; but when we spoke recently she had to leave because the rental increase had ballooned to $1200A per week (2024).

[@tsfsoomro]

I used to live in this 2 bed 2 bathroom townhouse in the heart of Wollongong in 2020 and paid less than 450 a week for the place. I moved out in 2021 and now I've found out the same place is being leased out for 700 a week. The system is broken beyond repair.

[@et8633]

$700 a week for the entire house or 1 room?

[@dingobonza]

​@@et8633entire house. That's not cheap for 2br 2bath

[@TheGeorgeBeare]

nice try mate but Wollongong isn’t a real place

[@TalkingPoint773]

Wollongong on a global level is literally gold. A city like Wollongong, beach next door, European demographics dominate, in the USA or Europe, you would be paying $2000 rent per week.

[@caitlinpalmer1839]

I'm from Gong and had to move to Perth because it's literally become as unaffordable as Sydney. Miss home so much 😩

[@stronzer59]

$15 for a pint of stout, $50 for 20 smokes, $20 for a small pizza, $365 a year electric supply charge, $400 for an oil change and filter, $2000 a year water bills just to shower and washing clothes $6 for a flat white, $40 for a pie and chips at a pub, $22 an hour to park your car, $1200 to fly 600 kms $6000 by rail from Perth to Sydney, Ambulance fares are $500 a mile, TV repairs are $300 an hour plus parts A 10 year passport $400, a drivers license $100 a year, fishing license is a Law degree sum Gov tax when buying a house $40,000, Burials $40,000, a car crash is $2000 out of your pocket before your claim is looked at. Yes Oz is now a total joke

[@Sean-gu3tq]

…. Just about flawless critique of the hellscape that is modern Australia ..just left out speed cameras every 2 miles and toll roads with exhorbitant charges.As more are forced into poverty it will not end well

[@stronzer59]

@@Sean-gu3tq sadly anyone who hopped into Australia post 2000's has almost zero chance of a basic lifestyle these days Old salts like me who got in during the 80's are home and hosed.

[@Bahjathaddad]

I moved to Australia a few years, its really shocking to see a country this size with a very little population suffering of a housing crisis. I feel sorry for the younger generations being deprived from owing a home because of some greedy politicians and rich people are writing the laws in their favour.

[@taurian221985]

All done deliberately by the government, creating artificial demand by not releasing land for development in spite of abundance of it.

[@DEadSpaCE211]

Tradies are very rare so they can charge what they want so even trying to get a new build is crazy and risky.

[@Jayyy9997]

All thanks to ineffective politicians.

[@XaviRonaldo0]

Australia is a highly urbanised country. It's not surprising

[@ykook7000]

Half the country is inhabitable

[@ytn00b3]

With very high population density, Seoul, Busan, Osaka and Tokyo have better affordable housing than any developed cities. This is mind blowing.

[@nozers]

cuz the houses are small and tight but

[@PwerRanger01]

Less immigration. Dont have to compete with outsiders.

[@patrickwilliamson29]

Would you like to live in a tiny apartment like in Tokyo?

[@bebbykhan7919]

​@@patrickwilliamson29it doesn't have to be tiny and yes, I think many would take an apartment over homelessness or never being able to buy a home. It's fucked up to pretend otherwise.

[@AbsintheReverie]

@@patrickwilliamson29 Yes. I am single and never at home- either at work or gym. I just want somewhere to sleep FFS.

[@TheDennys21]

This is what happens when housing is treated as a commodity, which is a worldwide problem.

[@shauncameron8390]

Not in Cuba. Housing is a "human right" there, yet the buildings are in disrepair with no basic utilities.

[@3nnosrep]

I was born in Australia but both my parents are French. I moved to France early this year and even though the wages are lower, it's still better than Australia for living and renting in my opinion. Some of my cousins ask me why I moved here, saying that Australia is better because there's more work and higher wages. But the lifestyle and cost of living is not sustainable and I wouldn't want to raise a family there. Buying property in Australia for young people is a dream, and even with a great job you'll easily end up paying a small home off for 30 years. I hope for my friends and family who stayed in Australia that it'll get easier, but I'm a bit of a doomer about that

[@r.mhaych5021]

I live in Melbourne. I bought a house 5 years ago to start my little nest egg get married start my family, work my arse off to build my business up. Here I am, every single day waking up to provide for my family aswell as pay wages to my workers the tax office just rorts us here businesses get taxed twice. I do 10-11 hour days every day in my small business as a bricklayer yet at the end of it all I’m left with nothing. As quick as it goes in is as quick as it goes out, builders cut our rates down too and expect quality to be better. 80% of the time I’m left wondering if what I’m doing is even worth it.

[@senseiseagal1983]

I feel you brother. Stay strong. Think of your family, but keep your eyes open for opportunity. Rooting for you mate 💪

[@r.mhaych5021]

@@senseiseagal1983 that’s very nice of you man ! I do all I can for them but it is getting really difficult. All I got is God to take over my life now. 🙏

[@anicetovyosenimana5486]

@@r.mhaych5021 God bless you brother for your hard work to feed your family.

[@Mike-pb7tk]

Ouch, maybe get financially stable before having kids 😂

[@timothyjn100]

@@Mike-pb7tk Stupid comment award, come and grab it bud

[@ۥۥۥۥۥۥۥۥۥۥۥۥۥۥۥۥۥۥۥۥۥۥۥۥۥ]

'And if you were born after 1992, you probably don't own a home and might never.' WHAT

[@HikariMiwa]

unless it's inherited

[@perzeus115]

it is the harsh reality at the moment, other than inheriting a property we will only have a good chance if we can double our single incomes.

[@crustyrusty1207]

@@HikariMiwa not at all just work a bit harder mate

[@whophd]

@@crustyrusty1207 I'd like to see a video about that LOL. A "bit"? More like 500%.

[@keeganberke2031]

This is hyperbole. Almost everyone I know above the age of 30 owns a home.

[@simplereef4854]

I have never visited Australia. I used to live in Vietnam and want to give my perspective as an outsider. When people talk about Australia, they normally associate that country with an easy international educational acceptance. What I mean is: that people will try to send their kids to the US, Canada, Singapore, and the UK first before trying Australia. They know Australia is the easiest country to get in, and they will try it as a last resort (if they fail to send their kids to every other country). I did not realize that easy policy could cause a significant housing problem until I saw this article.

[@TheBalkanSpy]

That is true, but the first resort is always US and EU, Canada and Singalore etc fall into the same category as Australia. EU has extremely capped international students intake because we pat our kid’s education through tax unlike the pther countries mentioned here.

[@sundayarvos_]

Very true because international university students are a big part of the economy, if you can believe that. Should have heard all the universities bleating when borders were closed, it cut off their money. International students are a part of the challenge but not the sole cause.

[@faithodyssey8699]

Thank you for this interesting bit of info. As an Australian I heard something recently about the government attempting to crack down on international students coming into Australia - because so many falsely come in on student-visas as a way to find work and permanent residency. At the same time, tertiary institutions often heavily rely on international student applications to stay afloat - which is unfortunately why they are run more as businesses than as places that care about education.

[@simonm1447]

Australia is a beatiful country for travellers. It's safe, and it offers different climate zones - you can have rainforest and tropical areas, you have sea and beaches, you can have deserts and the outback, but also mountains and a similar climate like in Europe in Tas. I tried to live there last year, unfortunately rental and property prices forced me to return to Europe. However the nature and the landscape in OZ are really beautiful.

[@MrSaywutnow]

The "cost of living crisis" is a weasel term used to cover up the real problem. Australia's migrant intake have been at insanely unsustainable levels for the last two decades. Yet there are morons who will try to tell you that immigration has zero effect on house prices, despite the fact that immigration has constituted the overwhelming majority of Australia's population growth for a very long time. We're not as bad as Canada, but we're pretty damn close. It doesn't help that neither of the two major political parties want to halt immigration, even temporarily (despite polls indicating that such a policy would be wildly popular). I'm old enough to have seen the demographic change happen - sometimes I feel like a stranger in my own country. It's driving me insane.

[@3141-g8n]

There is so much dishonest reporting of this situation in Australia due to people's generational/financial/political biases that this video is very refreshing. You've done a great job describing the situation accurately.

[@sarahgould2923]

Agreed @user-vv9hc8ly6u, @2and20 great job on delivering a very unbiased factual & insightful piece. The productivity decline is also evident in many local industries connected to the property markets. Our governments continued reliance on the Construction sector to draw-in the monetary injections from overseas required to stimulate our own economic performance (especially since the end of the "mining boom"), has caused such a squeeze on local operators that are labour intensive, this is also the cause of the very low wages growth experienced by everybody. The large tier builders in town (Melbourne is my example), fear that when the overseas investors decide somewhere else is more valuable & stop investing here the industry will collapse on itself. They have shown this through their willingness to tender to overseas investors' demands of maximum fixed cost contracts, simply to secure the ongoing cashflow required to sustain the wages & in--turn labour capacity. This was also evidenced by Probuild's recent demise. If this were to occur, we all may be forced to go overseas to find reasonable work prospects??

[@dosmatrix4470]

Here in Western Australia the homeless and vehicular homelessness is out of control. I myself am facing a predicament next year when my lease is up as the property is going on the market and rentals are either overpriced or non existent.I walk and ride passed people everyday sleeping in parks and sports grounds. Not only that but Aussies just aren't the same anymore they have become sheep.The "She'll be right mate" attitude has cost us dearly.The Australia that I loved doesn't exist anymore.

[@BananaP1zza]

Yeah, sadly gotta agree mate. Us Aussies used to make good on our word; call it as it is, help a mate out, work hard, and have integrity. That's all gone, True Blue Aussie's are a dying breed. We're becoming greedy, whiny "what about me" Americanised puppets.

[@queenaerithgrace1384]

My Father is also a blue collar worker, and we are from a immigrant background.. We especially my parents work very hard with integrity to try to make a living and afford a home for us. And we are not even of Aussie descent yet still, we try to follow as much as possible the most integrity out of everything.

[@priuss6109]

Australia = Sheep capital of the world

[@boratlion8613]

I immigrated to Canada in 96. It has changed so much. Seems like everywhere you look people are experiencing this modern day plague. And it’s 100% engineered misfortune. A total waste of potential.

[@Jack-sd1ug]

It hurts reading this.

[@mrmolloy]

It’s been absolutely amazing for so many investors, property magnets, home owners and boomers who saw massive asset appreciation.

[@youthculture523]

You’ve clearly done you’re research with this vid. It’s much more accurate than a lot of analysis we get in Australia, where we seem to be talking about everything but the root causes which you’ve outlined here very clearly. We have a collective delusion in this country. I would only add that Australian housing is known also very attractive as a vehicle for money laundering due to lax oversight.

[@DrJohnPollard]

Being a dual citizen, US and AUS, I can say reading through these comments that they are a very accurate assessment. I myself have recently moved to Thailand to remove myself from all the circumstances outlined in the comments. Here's a story from the past. I first arrived in Sydney in 1996 and wound up in Willoughby. I was curious to look around so I went to a real estate office and saw that the houses that area, which were quite high quality, in the US might have been $350, to $500 US, were 125 Australian, which amazed me twice because that was also about 20% cheaper just on the exchange rate. So I asked the real estate why it didn't seem many houses were for sale. He told me that a Japanese had come in and asked how many properties were for sale. He said, "Twenty-one." The Japanese buyer said, "I'll take them all." I returned again in a year, and the median had doubled to around 250,000 in that one year. So today I just checked and median property prices over the last year range in Willoughby are from $3,219,000 for houses to $1,200,000 for units. Same everywhere. When I left about 9 months ago, ANY property listed was gone in 1-3 days. It just seemed like any property that became available was being bought by people with nothing but money, and forget about anyone "normal." So yeah, real estate in Sydney is out of any normal person's price range by a wide margin and never going to return. And while you are at it, rentals are practically impossible to find in any desirable area, and the outer country prices just seem to have adopted the same pricing to a lesser degree. It's quite the conundrum as outlined by many.

[@priuss6109]

Australia = Sheep capital of the world

[@ireneglory4154]

that "I'll take them all".......

[@joshuafalken3312]

I grew up in Willoughby in the 80's-90's. I returned to Australia 2 years ago, after living overseas for 15 years. Wasn't looking to move back to Willoughby, but wondered if anyone I grew up with (including me) could afford to live there anymore.

[@DrJohnPollard]

@@joshuafalken3312 sort of doubt it, but you might be able to find a share accommodation. Sydney is tough anymore.

[@TravisHi_YT]

You forgot the part about rampant corruption. I sincerely hope smart young people start emigrating from Australia. There's nothing left here but speculating in property and selling rocks. It's too broken to fix I'm afraid.

[@farmerjones2766]

My daughters will never own their own home and will start their first day at work with 80k uni debt. The australian dream is dead for their generation. Here in sunshine coast its not uncommon to hear about $950 a week rents. Many of the young people i know live in vans and tiny homes. I would encourage young people to look at prospects over seas

[@alexeywells]

You can name this video 'Why Living In Canada Is Impossible', replace Melbourne and Sydney with Toronto and Vancouver and all the issues addressed will still apply.

[@infodaynightconv1445]

But you're a bit more woke than us - though we're nearly there.

[@AnneMarieNicol]

Yes just like England ,Canada and New Zealand and USA and they often follow the same masters!

[@danguee1]

@@infodaynightconv1445 And here in the UK - corporations, local government, arts and media, education sector all trying to outwoke each other. Though I'll be glad to see the back of the incompetent, corrupt, irresponsible Tories - I have fears of the incoming Labour government joining the outwoking competition.

[@ritacatalinich]

This is world wide not only AUSTRALIA’S PROBLEM .

[@connorhenderson_photo]

@@infodaynightconv1445 you lose all credibility when using that word for everything. You sound like an idiot

[@aidjunkie5335]

I visit Australia quite a lot. It’s really interesting to hear the same nonsense spewed out about the ‘benefits’ of mass immigration that the Europeans have been fed for the last few decades. I calmly tell them to visit any European city that has allowed insane immigration levels to witness first hand the devastation it causes to communities, housing and infrastructure. Australians standards of living and quality of life is being deliberately destroyed on the alter of Globalism at a rate that is breathtaking to see. I was going to retire there but I have shelved that idea now as it will soon become the same toilet Europe is sadly. A crying shame tbh.

[@davidbrayshaw3529]

Exactly. Lazy and inept governments have been using high levels of immigration to prop up the GDP for nearly 30 years now. And our standard of living has taken a nose dive. From traffic congestion, to wear and tear on infrastructure, to hospital wait times, we've sent Australia down the drain.

[@jamesbarbour8400]

Somewhere in the Far East is looking better every day.....

[@THREEFIFTEEN315F]

@@davidbrayshaw3529 Smartest comment on here

[@davidbrayshaw3529]

@@THREEFIFTEEN315F Except KZbin seems to have deleted it. What did I say wrong!

[@THREEFIFTEEN315F]

@@davidbrayshaw3529 Your comment was about GDP from immigration being a focal point of governments here for last 30 years.YT been doing this a lot since war against ad blockers.

[@christopherherbert2407]

with the global economy being so uncertain nowadays, moving to a new country can feel like a huge financial risk.

[@V.stones]

With prices seemingly going up on everything, I'm not sure how to protect my finances.

[@sebastiaanthijn7982]

Definitely. They could help you assess your current financial situation, develop a savings plan, and even advise on investment opportunities to help make your dream of living in Australia more attainable.

[@rodgertim2881]

Please how do I find a genuine financial consultant?

[@sebastiaanthijn7982]

That would be ‘NELSON MAYNARD FISHER’ Just research the name. You'd find necessary details to work with to set up an appointment.

[@cherylhills3227]

Exactly. With their expertise, you could feel more confident about taking the leap and making a life in Australia, despite the challenges posed by the global economy. Thanks for the tips

[@tovsteh]

Australia and Canada are run by governments who drive policy (often based on feelings/what sounds good) that results in these problems, and instead of reverting they instead add further inefficient and costly policy to try "fix it".. I.E Electricity prices are through the roof thanks to inflation, lack of investments, over-taxation and "green energy" policy. But instead of reverting, they spend billions of dollars to give everybody $300 of their electricity bill for a month, which further adds to the deficits/tax payer expenses and never solves the actual problem. The incompetence boggles the mind. Not to mention that our governments no longer admits to their mistakes and the mainstream media protects them rather than holding them to account in order to stay in their close circles.

[@YourPalKindred]

I'm disabled and currently unable to work. You got no idea how hard just keeping a roof over my head is. Last I calculated it, rent is around 65-70% of my government allowance alone. This leaves me with 30% of my pay to spend on utilities and food. You can probably guess that this isn't enough. I am forced to choose between bills and food, and as bills continue to rise its leaving me with less and less food. There are weeks where I have eaten only rice and buttered toast and still been unable to pay all my bills. I've received countless eviction warnings and I'm currently 6 days behind on rent, then I also have to get the car fixed up ($$$) for registration renewal ($$), a license renewal ($), and my rent is increasing by $50 a week, all by next month. I've been told to move somewhere cheaper, but I can't even afford that! Nevermind a down payment, I can't afford a rental truck to move furniture, because at the end of the week my savings are negative (not that I had any savings to begin with). Living here is impossible, and it's impossible to leave as well.

[@ashdav9980]

Don’t worry, more immigrants will come in to displace you and drive up prices more.

[@philliproberts7294]

Very sad and many in the same boat or worse but the worst part is nobody cares 😮

[@manalibrahim9638]

Your only option is public housing, that’s how I got out of the prospect of homelessness. They will connect you with services to help you move if you’re lucky enough to be allocated a property. I was lucky enough to find a storage company who offered me a free truck to transport my belongings to their storage facility whilst in temporary housing. God always makes a way for you if you rely on him.

[@SirEpsilonn]

Insane how this is possible in one of the wealthiest countries in the world, with SO much land mass to build on. Rent should be the least of your worries. I’m from Belgium myself, a tiny country bang in the middle of western europe with barely any land to develop on and still somehow rent is much more affordable here than there.

[@experiment-pj2kp]

let’s also not forget that all of our supermarkets are price gouging during a cost of living crisis 🤗

[@mickellis8747]

I live 14kms from the center of Sydney. I was very lucky to have bought my house in the suburbs in the 80's as a single man for the cost of a medium sized car in todays money. My daughter had to move 5 hrs away to be able to afford a house. My son is soon returning from 2 years working overseas and he will be lucky to even get a rental or a share house and probably will be living back at home with us. He will probably never be able to afford a home of his own in Sydney. We have lost most of our manufacturing industries and we are struggling with the lack of skilled labor, it's near impossible to get a decent tradesman who can actually turn up and do a decent job. When I started my apprenticeship for a major company here in Sydney in the 70's there were 300 jobs on offer. It's a shit sandwich and like others have said it's not going to change because the politicians have a vested interest in property.

[@hoilst265]

The lack of manufacturing's a big one: for most people, there's no way to earn a decent crust...other than mining, or getting on the property ladder. I remember reading an editorial by a Brisbane paper, where the author asked his engineer mate what company he'd start if he was gifted $2 million. His mate just laughed, and said "Business? Pffft. I'd just buy three houses." And he's right: most business take years to earn profit, if they don't fail in the first two years. Houses? No way will you sell one at a loss or break even.

[@aa2ll260]

This is pretty good. In Australia, the meaning of the word "investment" is, for most, property. But there are a few points missing. First the role of the third tier of government, local councils. They do the approvals, they create the ever increasing rafts of red tape discussed in the video, and they have the stranglehold on making new land available for housing. Sure, we've got land, land everywhere, but barely a drop to drink, so to speak. Why? Good for council coffers and good for business. Second, any government that campaigned on abolishing negative gearing (etc) would not be elected, or would be voted out if they tried. Why? See above: "investment" = property. You lose the entire population of people who've won from the system, which is a big slice of the electorate. Third, foreign investment and / or private equity are key components of bidding up prices. Whether it's London, New York, Sydney or Melbourne, there's no better place to park one's ill gotten gains (on the one hand) or the enormous floods of capital coming from rising inequality (on the other).

[@riosaputra2979]

4,700 homes across Australia were bought by foreign investors in the first three financial quarters of 2023.

[@HiNickCares]

That's not much.

[@bestreviews9666]

That's barely anything

[@highestqualitypigiron]

So hundreds of thousands of houses get blocked from being developed by real estate lobbyists and you're worried about the sub 5000 being bought up by foreign investors?

[@amaknusa9212]

A drop in the ocean, probably a small suburbs worth in the whole of Australia, would not make a dent in anything, alarmist!

[@stephenw2992]

How many in the years before they changed the laws?

[@westiger1199]

All by design... "You will own nothing and be happy"....

[@RenegadeRanga]

Sheeple still dont get it.

[@7thNoteOfficial]

​@@RenegadeRanganever will

[@Adonnus100]

People complaining about others owning things are usually commies.

[@michaelwhite6614]

Actually there's a lot of peace in catching the bus because my car is dead. I don't have to fork more money over for rego and insurance and if I choose I could fare evade (but don't, many do, I was a bus driver for years). It's a great way of sticking your finger up at the system, not owning a car and walking and catching public transport instead.

[@marenb.1414]

Spot on but the majority of people still don't get it and only blame the situation on bad politics.

[@pushnpow]

I moved to Australia from New Zealand and the housing crisis in Australia is nothing compared to NZ. At least here the average pay is much higher and house prices much lower, in New Zealand you don't have a chance to buy property unless youre a couple both earning an above average wage.

[@gustavodelatorre8690]

Here in Argentina, no one can buy a house, even if youre a couple with the best salaries in the country, there is no credit and if you can save money every month, your considered "high society". Please be thankfull whit your countries, you are living a good life.

[@ellevasc]

@@gustavodelatorre8690NZ is definitely not the worst place to live in, and i’m sure they know that, but they still have the right to complain if things aren’t good where they’re from. I’m also from the Southern Cone so I feel you, but one could argue that “Africa is worse than South America”. Which is true, but doesn’t mean we can’t complain about our living conditions here.

[@Omar_Journal]

i recently moved here in Australia, Sydney to be more precise, and trust me that im living a dream. rent prices are high but nothing in comparison to Italy. Here in Sydney i rented a very good room ( just a room) for 350 AUD a week. In italy the same room in Milan, would have cost me 350AUD a week not including bills on a monthly wage of 1400 euros, which are aprox. 2600 AUD a month. In Australia is still managable to live a good life, but maybe it is just me that i am used to live miserably

[@JackAllpikeMusic]

I do just want to add that "removing red tape" is a whole other beast, because we have a crisis of building companies in Australia too. Building companies going out of business, and many new houses built are riddled with massive flaws.

[@jayclark8284]

Left Australia in 2015 to live in Bali. I bought a 2.5 acre coffee farm in 2020 for AUD$50,000 that produces $3-4k ler year in produce. The mountain view is simply gorgeous. Currently building my dream cabin home and a small restaurant for my wife. Add $100k. Annual land tax is AUD $50!😂 Never going back to Oz.

[@relaxation-Corner]

How do you stay long term? I read that you have to keep applying for a new visa every 3 months? And how are they letting you build on the land?

[@eurekaelephant2714]

Thanks, but that doesnt help us.

[@jayclark8284]

@@relaxation-Corner I'm married to a Balinese woman so my visa is only once every 5 years now. We cut down whatever trees we want to make room for the house and build it without constant government interference...think Australia 100 years ago😁

[@jayclark8284]

@@eurekaelephant2714 sure it does...one less person competing for housing😉

[@paulfri1569]

Smart 🤓

[@newlycelebrities5956]

OMG. This is literally a copy and paste of Canada's problems videos. The parallel between the two is incredible. As a Canadian whatching this, I felt i was whatching a video from my Country.

[@2and20]

Ya they are super similar. As we did the research we couldn’t believe how similar they were. Thanks for commenting. Please subscribe if you like our content :)

[@camilaloaiza7731]

Is insane how similar they are.

[@newlycelebrities5956]

​@@2and20for sure! Subscribed! And i will mention additional simmilarities maybe ur aware of already. They both have oligopolies in the same sectors too, banking, grocery chains and i believe in airlines too if im not mistaken. The same sectors Canada has Oligopolies in and too much consolidation

[@grantourismo0109]

😂feel the same way, Australia is just a few years behind Canada ; I also heard some migrants who live in Canada for long time , they have decided to leave due to cost of living and crimes , is it real?

[@ExpatChef71]

I'm a Canadian who lives in Australia so I can honestly agree.

[@elnora1469]

Australia has let in almost 1 million people into the country in 2 years. Where are all these people meant to live??!

[@stephenw2992]

They should have to build a house for themselves and 5 others before they are allowed to stay

[@nunyabisniz8047]

Australia IS an immigrant country tho. It was was built for and by immigration. Personally, I rather let an immigrant with a PhD in rather than let my tax dollars support lazy people

[@punns643]

In Sydney

[@loganmedia4401]

Net immigration does not appear to be 1 million in two years.

[@snakesonn]

Are you after a longitude and latitude???

[@V.stones]

I’ve heard that even basic things like groceries and utilities are insanely expensive. Not to mention housing-Sydney’s real estate prices are off the charts.

[@roseyfischer]

It’s not just the cost of living either. I read that health care, while good, can also get really pricey for non-citizens. If you're on a fixed income or even trying to manage a retirement portfolio, it can drain your savings fast

[@Bigwilli123]

That’s exactly what I was thinking. Australia’s beautiful, but when you factor in inflation, currency exchange rates, and how fast expenses pile up, it feels like a financial trap.

[@Theodore-tu5zg]

Yeah, especially if you don't have a solid investment strategy in place. If you’re not careful, your portfolio could shrink instead of grow in a place like Australia

[@camela8445Mar]

Right. That's why it's so important to have someone managing your portfolio who really knows what they're doing, especially if you're planning to live abroad.

[@camela8445Mar]

I’ve been working with Joseph Nick Cahill, a Certified Financial Planner (CFP). He’s helped me look at things like currency fluctuations, cost of living adjustments, and making sure my investments stay on track, no matter where I live

[@bethells86]

The British commonwealth countries are the only places in the world where one can buy freehold properties with no restrictions. Yet non-commonwealth countries will not allow outsiders to simply buy and invest in real estate. So, the problem started when Australia (and NZ) opened the floodgates to non-commonwealth country citizens who had a lot of cash, or were able to borrow at below 1% interest from banks in their home country. Like it or not, this is the brutal truth people keep ignoring. Its these peoples from non-commonwealth countries who just keep snapping up houses at any cost. Also these people In NZ they are building really tiny houses at alarming rate, no restrictions at all. Seems to be a lost case where local peoples are being pushed out through legal means.

[@stilton946]

careful mate, almost sounds like you think your country should prioritise its own citizens, thats a far right facist radical racist view here in england.

[@amycollins174]

No it isn't. The problem is that they have created an asset market out of housing. Everything about the housing is highly controlled, from the building materials used, from the code you have to build the houses, to the approvals, to the mortgage terms and legislation of things like mandatory insurance. The entire market exists for the sake of megaconglomerate subsidaries inside of Australia to get wealthier. The banks own the homes, not people with mortgages and when you have strict building codes then it means that banks are having assets of an extremely high value built for them. Then when they mandate insurance, the banks asset is protected from damage. Not only that but then the insurance companies have an infinite money source from legislated products. Then the fact you have to have highly skilled builders, not just your uncle who can just put up four brick walls and slap a roof on means you have to have educated builders who are paying for tertiary education. So now there's contingent industries built off of the back of the housing market. Then you get building companies who lobby to the government to create monopoly on the supply of building materials and have their materials legislated into the law so they're mandatory and it reduces competition also raising prices. Then that's just the economic side. You have the government side who are all baby boomers that are implicit in creating this bubble for their own retirement. With the advent of individualism and the nuclear family, there is no "tradition," where an older generation is obligated to serve the subsequent ones. The politicians have all bought 4-5 houses to cement a comfy retirement for themselves and allow all this legislation to occur. What they are also implicit in is promoting policy which manipulates supply and demand factors for the housing. Introducing migrants at a rate of 500k annually since 2000, limiting certain builds, changing zoning etc. The government has literally been used by corporate interests to turn the market into a macroeconomic market for the country. That is it's sole purpose. To constantly "grow," demand and create new construction to promote new jobs and more insurance taken out, more mortgages, more legislated building products etc. The entire country is like this. Corrupted to the core whilst it hides be hide moral bullshit like "inclusive," and "diverse" governments.

[@JohnFromAccounting]

@@amycollins174 Australia is the target of international fraud rings based in Southeast Asia that use Australian property to launder money. Australia is the country that takes in the largest number of millionaires in the world. There is no dispute that global wealth is exploiting the situation here to get richer without trying.

[@tube.brasil]

Say the name: China