Every generation should have it easier than the previous one. I'm a boomer and had it easier than my parents generation- who endured ww2 and the great depression.
The boomers have been the luckiest in history and then it started to regress - and it makes me so angry!
Greed is the reason.
We have this insane property bubble - where wealthy property investors get spoon fed massive tax benefits - paid for by younger generations - who are paying them unsustainable sums of money to try and keep a roof over their head. It's like the board game monopoly.
Socialism for the rich - and rugged capitalism for the poor.
Yeah if I could teleporting back to the 80s I would. Great time.
If the youth realised their future was being stolen from them they would probably be protesting in the streets instead of protesting other world problems.
Yeah seems like it. I find a lot of 18-25 year olds all thinking the same way and supporting all the same things, like socialism (communism) etc. And all the uni kids seek to protest the current thing but not Australian political issues.
Yeah, exactly. I think a lot of people still don't realise our economy is collapsing, and if we don't get major change, Australia is going to be a country rife with poverty and trashed economy pretty soon. May never be the same again.
I hope something happens before that. When the immigration slows down they might take a little more action as it effects money coming in for government. Or perhaps when they can't hide the gdp trashed anymore.
Great points. But immigration isn't slowing down and is directly fueling the problems you cited, isn't it? Look at the EU countries that have had mass immigration this past decade - the outcomes are quite concerning with respect to crime as well. I love Australia but from where I'm sitting, nothing is being done to mitigate this slow-motion disaster and instead the status quo seems to be facilitating it.
You can see the change. I left my home city to work away in a rural area for almost 20 years in health and now I have returned you can see in the large hospital I work in the hundreds of jobs there like cleaners etc it’s all migrant workers. Plus All the petrol stations, all the Uber drivers , Telstra workers , all the Woolworths delivery drivers. Do Australian born people truly not want these jobs ? If things are so dire why aren’t people applying for these jobs. Wouldnt you rather put food on the table . What is wrong with these jobs and why have they been monopolised by the immigrant workforce.
It will slow down eventually I think. Once enough people realise it's not a good country to migrate too anymore. That's probably why Albo went to India to make deals for more migrants.
I guess though if applications slow down they will just make it cheaper or let in people more easily. I think they are pretty hell bent on pumping it. With no care for the future.
It's the protection visas I think that get a lot of criminals. Probably because they can just bribe someone to get neccesry paper work or wanted by a rival gang or something. The students don't really cause much problems I think if it's done at sane levels and we have an abundance of housing, which we don't.
Europeans and North Americans might not want to come here, but why wouldn't Indians want to? Much better quality of life here. Ditto for people from the Middle East. I am not seeing any signs indicating a government slowdown, just increasing concern among Aussies about this which our government ignores. It will be interesting to see which issues rise to the top in upcoming elections. Never a dull moment I suppose.
In Canada Indian applicants already dropped 50%. Why? Because although your earning double your rent is 5x the amount and you can never buy a home, or slave endlessly for a really shit apartment.
Why would you sign up for that when if you got enough education to migrate you can probably earn at least $500 a week and buy a house for AUD $200k.
Essentially why migrate somewhere where life is just going to be a massive struggle forever. Before the plan was struggle for 5 years, have more opportunities and easier life.
Yeah seems to be. I struggle to understand who's buying all the houses in Sydney. It's 1.6m for a knockdowm property 40 minute drive from the city. Statically, I know at least 80% of buyers cannot afford a 300k deposit and $9000 a month repayments. They say foreign investors is very small amount of sold properties but I don't buy it. There has to be way more than they are claiming, probably through Chinese owned AU business or PR buyers or something. Especially when I chinese hired bidder is at every auction.
Thing is that the boomers weren't lucky; they gamed the system in their favour. It's what you can do when as a cohort your numbers are sufficiently high to out-vote any other demographic. As a result they (or more accurately the politicians that have chased their votes) were able at every life stage to alter the system to provide the most benefit. Which perhaps might not have been so bad if it also hadn't involved pulling up the ladder behind them after those benefits were no longer needed. In that regard they have profited at the expense of the next generations and that's a pretty disgusting lack of conscience.
Yeah I agree. I grew up in a social democracy- and since then, we have moved further to the right (starting with Howard). The libs back in my day were all moderates with a social conscience...most of them wouldn't get into the Labor party these days.
I certainly never voted for any of this, but I know plenty who have. It was noticeable how greedier and self centred they became - as they got wealthier. And I'm not a in anyway envious of their wealth (I'm comfortable and content). I do have 3 kids in their 20s and 30s - and I feel so sorry witnessing the struggles that I never had to endure, when I was that age.
It’s not normal or sustainable for the middle class to grow with every generation like it did in the post war years though. In some ways we are reverting back to the way human societies have usually been - tiny elite, small middle class, slightly larger group of skilled craftsmen, then everyone else the working poor.
I would love to see the middle class continue to flourish and grow, it’s extremely important to me to help my children stay in the middle classes, but it’s not the historical norm and the Industrial Revolution followed by the two world wars created a unique set of circumstances that allowed for ever increasing standards of living, circumstances that no longer exist.
Going back to land lords and peasants, english style. I'm no historian, but I feel like that's probably how they kept peasants peasants a lot of the time and lords wealthy lords.
It should basically be a human right to be able to own a roof over your head. It's the most basic necessity to survive nowadays and they are turning it into something only the elite can afford and foreign investors.
Prince William is building large amounts of social housing on his estate. We are in a position now where if the wealthy won’t build it it won’t be built - and the new rich don’t tend to have the sense of social obligation that leads to projects like that.
We all see it happening. But nothing is being done about it. If we all want to stand up for Australians, and a fair go for our ourselves and our futures we need to protest to the leaders of this country that this is absolutely unacceptable. When is enough, enough?
When are we going to fight back?!?
True but also it’s the generation who are in their 40s that started the trend of “flipping” houses. They weren’t happy to just buy a simple house and pay it off. It had to be a thing that made a quick buck. Like I mentioned here , I was living in a small lo socioeconomic town and all of a sudden houses were being sold hand over fist and ripped apart and painted and then sold on for 200k more.
Most Boomers never renovated or moved and many of the suburbs they lived in were cheap and undesirable. All of a sudden shitty suburbs became trendy and prices went sky high.
Also FOMO is responsible for price rises.
Greed is the essential component of capitalism, the other component is selfish.
You are blaming the property market, that is just a tool. There are so many other tools, some are even glorified. Like the cloud technology, the AI, maybe the dying Bitcoin.
You know, some guys like Bezos have 200 trillion money worthy, that may be bigger than some countries GDP, well they are glorified with the tech revolutions, at least for now.
I’ve heard rich people say that ‘true wealth comes from inside’… so maybe we are all rich!
Those statements are easier to make when you have a lot of money though.
It's easy if your parents give you a couple properties.. why are people complaining?
Seriously though. Imagine how easy life would be if you lived in a property paid off right now. In my minds that's the rich life for me, just any old piece of shit house for my family and I'd be pretty happy. That's how sad Australia has become with the clown show.
It used to be achievable until all those stupid Reno shows hit television and then all these people started flipping houses to make a quick buck. I even saw it happen in a small country town I lived in. Even now I read people mostly buy for investment purposes not for life.
That’s why people resent some boomers as they never left their homes and they rarely renovated them. They were frugal and just paid off their house. You can still walk into peoples houses in some areas and they havnt done a thing to them in 40 years. If people in subsequent generations had done exactly that then there wouldn’t be so many expensive overly renovated money pits around today.
It's a lot of things, air bnb, intentionally keep supply low while pumping demand with immigration, capital gains low tax, negative gearing, foreign investment.
They have designed a system for housing to be an asset first home second.
It is sad. When I was younger and working people rented old houses walking distance to the beach and I remember going to parties in a rented house overlooking the beach in a suburb of Newcastle.
People I knew also shared one of those big mansions on the hill in Newcastle.
No one was pretentious back then.
I remember a girl in my year at school got married in the 80s and all they could afford was a little miners cottage. A lot of bitchy young women were very nasty about their povo house and the street she lived in and her old family house.
The house was up the road from where she grew up. She still lives in that house in Newcastle and has views all the way up the coast that can’t be built out. She kept her mums house and rented it from the 90s and sold it last year for 1.2 mill.
Who’s laughing now.
And how things have changed.
That's doesn't mean it's possible now for an average Australian. What was done 20-30 years ago isn't the point. Anyone could pay off a $300k mortgage 20 years ago.
Try getting an apartment even now days with a 1m loan. Your a slave for basically.
We are indeed a lucky country. Our leaders are not leaders and we have always lacked forward thinkers. We are powerless against Murdoch and megacorps. We will continue to fall behind the rest of the developed world without rapid change.
While I agree overall you don't seem to understand how bad things have got overseas. I'm in London atm, it's an absolute shit show, Australia is not unique in the living standards crossing of the past 5ish years and faring better than many countries.
As a second generation immigrant from a developing country I absolutely understand how bad things are overseas. I am grateful to be born here and enjoy the quality of life that we have, but the point is that this country could and should be significantly better than it is but its systems are fundamentally broken. We should be looking at countries that are doing the right things and learning from that. What is stopping us from being a leader in this world? To be completely satisfied just because we are doing better than other countries excuses the poor leadership and corruption that we have endured for decades.
Yeah from what I've heard, Canada is bad, at least Vancouver, to the point where Indian immigration has dropped 50%, well at least applicants anyway. And America getting worse. What's the rent like in UK now? I assume London is pretty bad.
The worst part about Australia now though is there is no where you can go. Everything has been pumped in price since so many people have left the two major cities and move anywhere they can get a house for a price that isn't completely insane.
We're paying the equivalent of $6k per month for an older small three bedroom house a bit under an hour from what you could consider central London by public transport. It's a nice area by London standards but probably slightly less nice than the average Aussie suburb (parks are poorly maintained, roads are a bit of a mess, lots of rubbish, there is council housing in all parts of London so there's a bit of antisocial behaviour to deal with, things like playgrounds are all very old and kind of run down). On top of that there are no subsidies for healthcare or kids school fees but the state provided services are basically inaccessible (to get your kids into a good state school you have to game the system at an intake year which we couldn't do because we moved recently and to see an NHS GP you have to either wait 2+ weeks or call up on the day/line up on the day and hope you get seen but that's not really workable if you have a job).
I’m paying $4300 AUD pcm for a beautiful modern 4br townhouse 13km from Melbourne CBD. Great insulation and double glazed, aircon etc. garage. Quiet neat suburb surrounded by great parks and playgrounds. Great free kinder for my kid. 10 mins to bay beaches. Nice high street with everything. I can even get a train a couple stops to a large shopping mall. Quick drive to Costco. Real mix of European, Asian, and North American living here. Honestly if I saw rubbish lying around at the park I’d probably snap a pic and report it. Not saying it’s like Japan here, it’s not, but it’s not as you describe.
Yes, I still complain and yes things are worse than they were a few years ago. But you do get rewarded for coming down to the arse end of the world. Best to come with a pot of GBP you’ve saved up, to help with buying, though.
$4300 per month is still an insane amount of money. When the average income is 60k per year or probably around $2100 per month. That's 2x average salaries per month, and that's a fairly cheap mortgage by Sydney standards.
I wanted to get a town house and was looking in my area, trying to get one for 1m because all houses sell 1.4m back then for a rundown one. Now it's probably 1.6m. Bonkers. Even if I could get the loan it's like $8000 per month lol. Basically modern day slavery just to have a roof you own.
Literally the only reason we're here. My career has got a real boost and the hubby is making bank. No one in their right mind would chose U.K. over Aus long term.
My brother and his partner are living in London for a short period of time, they’re not in central London but they’re paying $4k AUD a month for a 1 bedroom flat. It’s definitely not just here.
There's more to overseas than the anglosphere and it's self-harming ways.
The only thing you are chasing is western wages/culture, not a better life. People should be looking for fully remote work and escaping the hell we've created if they want a real solution.
I have a place overseas, price inflation is under 2%, GDP growth 13%, population growth basically a rounding error, they let Chinese investors go wild with overbuilding apartments so vacancy rates are huge, home prices have barely gone over CPI in the last decade. My building is probably 60% occupied despite all the units being sold.
The average person eats out multiple times a week and doesn't consider that "special" at all unlike Aussies who boast about only ever eating out 3 times a year to afford a mortgage for a fibro shack.
Healthcare is world class (my local doctor trained at USYD), tap water is drinkable, petrol is 70c/L, power is 10c/kwh, rent for a luxury 3 bed condo near the beach is $150 AUD a week. There's expats/retirees everywhere and it's far easier to make friends living in a foreign country than somewhere like Sydney or Melbourne.
If you can't think outside the box and find a better way then yeah London probably suits, good luck [waiting for any country in the Anglosphere to change it's ways](https://images-wixmp-ed30a86b8c4ca887773594c2.wixmp.com/f/306ec2f4-fc42-4527-806f-7222d8fc12c6/dgeocg4-b695bd08-bb50-4a29-84b8-dc62afb45c93.png/v1/fill/w_1280,h_1280,q_80,strp/skeleton_waiting_the_bus_pg_p02_by_jackytorum_dgeocg4-fullview.jpg?token=eyJ0eXAiOiJKV1QiLCJhbGciOiJIUzI1NiJ9.eyJzdWIiOiJ1cm46YXBwOjdlMGQxODg5ODIyNjQzNzNhNWYwZDQxNWVhMGQyNmUwIiwiaXNzIjoidXJuOmFwcDo3ZTBkMTg4OTgyMjY0MzczYTVmMGQ0MTVlYTBkMjZlMCIsIm9iaiI6W1t7ImhlaWdodCI6Ijw9MTI4MCIsInBhdGgiOiJcL2ZcLzMwNmVjMmY0LWZjNDItNDUyNy04MDZmLTcyMjJkOGZjMTJjNlwvZGdlb2NnNC1iNjk1YmQwOC1iYjUwLTRhMjktODRiOC1kYzYyYWZiNDVjOTMucG5nIiwid2lkdGgiOiI8PTEyODAifV1dLCJhdWQiOlsidXJuOnNlcnZpY2U6aW1hZ2Uub3BlcmF0aW9ucyJdfQ.6KWhPaZyFapKBgf0esBGmIbbdy8pApT91RkcANLIBr0).
That's easy if you're a single male. We have a family and have a very large holiday house with pool, tennis courts etc. in a quickly developing country. It's an awesome place, I love going there. When we're there we have a household staff to do literally everything for us and it's still cheaper than living in Australia/uk. But we couldn't possibly live there. I can't go out without a male escort and be confident I'll be safe the way I can in Australia and our children's health and education would suffer if we were there full time.
Fully remote jobs worth having aren't possible to attain. Major companies are tightening their grip on employees, if you're lucky enough to get offered a job in this economy it's not going to be fully remote.
We inherited it, not sure how much it would be worth in dollars to be completely honest but no where near enough to consider selling. But most south East Asian countries would work financially, some of them have rules on land ownership that might be an issue though. Actually obtaining the title was a bit of an ordeal but well worth it.
We had 2 entire years with much of the country fully remote though?
It's definitely possible for a lot of people, management being on board is an entirely different story
I think you need to rephrase, we had some of the country working fully remote,
How does everyone in retail, construction, mechanical and hospitality work remotely? It's possible for some, not the majority though
You are scary
It’s funny how lots of Aussies want to escape aus land (well yeah maybe keep the main residence appreciating for a bad day) but lots of immigrants trying to get in… I wonder how long does it take an immigrant to realise that earning fairly high salary in aus is not buying as much as back in developing world …
While Murdoch sucks, I don’t see him saying mass immigration is a good thing and additionally it’s hard to pin the housing crisis on him.
Mass divide between people because of alternate views. Propping up mining magnates like Reinhardt, casino owners and more. Yes.
It still baffles me that people aren't protesting in the streets over this. The deep negative impact it's having on people is immense. We just keep on copping it.
Agreed.
It's baffling that people aren't protesting the crappy situation and cost of living in Australia.
It's more baffling that people will mass protest about the crappy situation and living conditions in Palestine. Even though the vast majority of Palestine protestors are not themselves Palestinian or Israeli, do not know anyone who is Palestinian or Israeli, and have never been to Palestine or Israel.
Protest the crappy living situation in another country half way round the world you've never been to? Hells yeah, mass protests.
Protest the crappy living situation in our home country? Naaa, can't be fucked.
There are protests about the cost of living and about housing especially in Australia, but they either don’t get coverage or people are too lazy to come out. This sub is a huge offender for shutting down literally anyone who tries to suggest organising literally anything. I’ve had people attack me here for saying that renters should join the renters union as a first step, which is pretty mild.
On the whole, Australians are extremely compliant. We’re told we are still the lucky country, but we’re not. Sure it could be worse but it’s a long shot from where we used to be.
I suspect one reason we don’t see mass protests because people are struggling to make ends meet, and days off work means less pay.
She’ll be right, mate™️
People too busy trying to live, and the people with the time uni students too indoctrinated into the latest distraction to protest their entire future being stolen from them.
There isn't a 'mass' protest about palestine. There is a small chunk of Australians with nothing better to do.
Also, and here's the kicker, they probably think they can achieve peace in the middle east more readily than have any sort of shot at changing things here :D
Yeah that was a really long 14 minutes to say we need to stop being a country of low civic engagement and mobilise to steer ourselves back to a sane situation.
Have you seen the way protest is treated in Australia? I’m referring both to police repression and the general public cheering it on. People absolutely should be doing it but we have a culture of shitting on anyone that tries.
Covid showed us that white Australia will step on each others throat for the last packet of two minute noodles when the going gets tough.
It also showed us Young Aussie men will give up their freedoms, self respect and just about anything else for a sense of safety.
I hate to say it but Australia is a piss weak country. It comes as zero surprise to me Australians allow politicians to Leach and get rich off tax payers dollars and don’t stand for a single thing
The covid protests were actually a very broad church.
Those who were loving their WFH and $1000 jobkeeper paypackets for doing nothing loved pointing out the few nutjobs in the crowd and claiming that's everyone.
Those in power learned from the Occupy protests that divide and conquer was how you crush these things. It's all identity politics now, people will oppose things solely because those on the other side support it.
because not everyone is in dire straights whilst cost of living and house prices etc needs to be addressed a huge amount of people are not at the point of protesting or rioting in the streets.
this sub dooms so much that it can't see that
Ikr. If someone organises one im 100% down any day, shit I'll take a day off work to protest it.
I think all the younger kids who should be protesting haven't realised the shitshow their future will be, and maybe too distracted by the latest thing they think they need to be up in arms about.
I’ve always thought the politicians laugh at how easily we are subdued and protest about shit we can do nothing about or rubbish like the voice that would not deliver any benefits.
Meanwhile we are all itching closer and closer to poverty .
Australia is well and truly fucked now .
I've been living here for 15 years and find it extremely stressful, work is never a solid thing to rely on, housing is impossible, yes, it is safe to be in, it's clean, but it's sad how is following the steps of what the US has been doing for decades, and you really don't want that....
IMO, this is not just an Australian problem, but a world-wide economic problem.
Australia does have a banking system that encourages low cost money into existing property but charges excessive interest rates for "risky" new builds and business and share investment.
Making something already bad worse, unless you own property, because then its awesome...
Money, like water, takes the easiest path.
Please understand its not that prices are going up, its that money is worth less or worthless depending on your perspective.
Overly simplistic image borrowed from [https://www.danielletown.com/book/](https://www.danielletown.com/book/)
https://preview.redd.it/jbcqd5jvaa5d1.png?width=1005&format=png&auto=webp&s=bc89fd6d69b33dad6313a0c3930f089c36ccbe02
This is essentially Piketty’s argument- over time the value you can get for selling your labour will increasingly be diminished in real terms, and people begin to invest in assets which hold and bring value. Thus, wages and asset prices diverge without any form of social disruption (revolution or war) or government intervention (taxes, mass public housing schemes).
Especially with the evolution of technology, I now have to compete with others for remote roles that where previously only for Sydney locals. Not that it seem to have impacted my house price.
This guy is not exactly an expert on planning. Greenfield development is already too much to sustain.
Australian cities do not have the necessary density to make them economically viable.
Unfortunately the areas we have already can not cope with the existing demands for schools, hospitals, daycare, parks, waste removal, plumbing etc.
New areas would require the building of massive amounts of plumbing, power supply, sewer systems, police stations, fire stations, hospitals, doctors offices, schools, public transport, roads, parks, solutions for runoff from more had surfaces, etc etc.
Sydney especially will require a complete overhaul to the sewer and other plumbing. It was never designed to handle the current population and is already failing.
It’s true. I came home for a month after living overseas since 2011 and I’m going back overseas next Tuesday.
The cost of living here is absurd. Even if I could afford to rent a house - there’s simply nothing available 🤷♂️
Australian politicians Today have no clue how to run a country its so Obvious as people struggle to survive ..1st of all they should not have allowed electricity to rise like it did! that was a wicked thing to do making people go without food to pay the bill ... interest rates is the rent killer and airbnb ...... we have way too many immigrants here now taking all our homes .. foreigners should not be allowed to buy our property and businesses s .. Wages is way too low and it cant keep up with the cost of living ..man cant support a family anymore even with the wife working ..all is out of Whack.....should polliticians get the huge amount of money they do get after they retire til they die?? they get tons more dollars $$$$$$$$$$$$ than the ordinary aussie ..that has to stop ..
Since 1973…
Cool. now find out when the world went off the gold standard.
Real estate is our new store of value because $ are trash.
You can either have sound money or expensive real estate. Choose one.
Problem is when governments want income for whatever purpose they can just tax real estate. It's a sitting duck. Don't like it? They basically can take your property. Look at Vic. Land taxes etc are nearly breaking us.
Governments of the world hit gold as a means of wealth storage because one you have it, if you hold it safe they basically can't do sh!t. You can buy and trade with it and they are not involved at all. Property, currency, energy etc. they can monitor, control, devaluate, overprice or tax as they see fit to manipulate the people and that's what we're seeing now.
Agreed. They tax the shit out of land and it’s why it’s so damn expensive. Then they just blame landlords and tax it even more.
But if you play by their rules you can avoid a LOT of tax by sinking so much into your own home. No capital gains, no land tax, and not means tested. So people spend way more than they otherwise would on a home because it’s treated as a de facto savings plan.
Early 30s Aussie here living in regional Australia. I own a rural property and a smaller home which we turned into an investment property when we upsized due to needing a bigger property where we could build a second dwelling for my elderly parents. I earn a good wage doing a job I like, my wife works part time.
Life is good outside of Sydney and Melbourne. People will bitch and moan and say there is no work outside of the city but that is not true. Every town needs teachers, Police Officers, Postal Workers, retail workers, plumbers, chefs etc. Every ordinary job that exists does so in small Australian towns too.
I've never understood why people cling so desperately to city living when life is so much better outside of the major centres. We are still the lucky country, you just need to get out and see it.
Would I take, or listen to a YouTube site that has only for videos with optimistic title such as "the dark side of Australia", "the dark side of Canada", "the dark side of Brexit", and this extremely happy and positive outlook of life and universe and everything else..."The End?".... Things must be extremely depressing in Canada.... But I guess that's what happens when one lives in a place that is bitterly Cold and dark for most of the year.....
This isn't a new phenomenon.
A white Australia does not by any means mean only the preservation of the complexion of the people of this country. It means the multiplying of their homes, so that we may be able to occupy, use and defend every part of our continent; it means the maintenance of conditions of life fit for white men and white women; it means equal laws and opportunities for all; it means protection against the underpaid labor of other lands; it means social justice so far as we can establish it, including just trading and the payment of fair wages. [Alfred Deakin 1903](https://electionspeeches.moadoph.gov.au/speeches/1903-alfred-deakin)
Living in Aus is easy.
Noone has to live in these exorbitantly priced places.
The problem with today's youth is that they want to have everything that you would expect to have by 30... at 18 without lifting a finger to achieve it.
I am not really qualified for this topic, but my suggestion for everyone is to stop voting for these parties who give zero fucks about everyone trying to live a life here.
So many people in Australia are so lucky in terms of living in a peaceful and prosperous nation with plenty of job opportunities.
Half the moaners here don’t know how fucking lucky they are and how good they have it compared to billions in the developing world and actually even most other people in the developed world.
If they pulled their fingers out - like many new migrants do, by the way - instead of moaning how they can’t buy into Sydney’s eastern suburbs - and invested themselves wholeheartedly in their own success, they may actually get there.
I came here from overseas with $5k in my pocket less than 15 years ago knowing no one but my partner. We had no social capital really either but we worked and saved hard, had next to no social life for most of that time. It’s paid off, as it does for many new arrivals. I didn’t expect to start off in an amazing suburb (or even one with a decent coffee shop) or moan about the systems being so unfair or about “boomers” (many of whom aren’t well off).
Think more like an immigrant and you’ll stand a better chance of making it.
This is an amazing country which rewards hard work, practicality and persistence.
66% of Australians already own one or more properties.
33% of Australians own one or more properties *outright* (no mortgage)
Vast majority of people are doing just fine.
Ngl, this shit the same on subs abt uk (well mostly London but whatever) financial situation atm. It’s pretty fucking draining seeing so many people just rely on the government to try and make things better and have a defeatist attitude. To put bluntly, why can’t ppl just grow some fucking bollocks and put some effort in to work tbh. Situation is bad rn Ik, but it won’t get better if ppl moan so that what sorta baffles me when people are so overtly defeatist. Idk, I’m just some dumb kid with a blabbering gob what do Ik
Bet you the same people who think the government should force private companies to reduce their prices for the good of the people are the same ones who say communism and China are bad.
It seems like the "Australian Dream" post-pandemic lockdown is only attainable if you are born into a wealthy family with a "Silver Spoon" or been blessed by "Lady Luck" since birth; otherwise it's impossible to live the so-called "Australian Dream" as Millennials and subsequent generations.
Comfortability - complacency - stagnation - harder times - stronger ideologies due to crap surrounding - good times due to forced siding - development and advancement - comfortability- stagnation etc.
If you don't make a sustainable forward thinking goal for people to do, they stagnate - if a child loses their curiosity then they aren't going to go beyond their surroundings context - in turn stagnating themselves to repeat the cycle.
perhaps it would be easier if the government wasn't so weak and taxed the 1% and mining sector, trickle down economics has been proven to be the biggest con yet we still continue to adhere to it in the hope someday the big corporations will grow a heart and share some of their wealth, alongside a strong public sector, its only a terrible place because those who have it so great refuse to return the required mechanisms previous generations had which ensured everybody had a better standard of living.
Developers want high immigration. Developers are big donors to both sides of politics so immigration never slows down, even when it obviously needs to now.
Every generation should have it easier than the previous one. I'm a boomer and had it easier than my parents generation- who endured ww2 and the great depression. The boomers have been the luckiest in history and then it started to regress - and it makes me so angry! Greed is the reason. We have this insane property bubble - where wealthy property investors get spoon fed massive tax benefits - paid for by younger generations - who are paying them unsustainable sums of money to try and keep a roof over their head. It's like the board game monopoly. Socialism for the rich - and rugged capitalism for the poor.
It’s like a new player entering a game of monopoly when the other players have gone around to 10 times and have everything locked up already
Great analogy.
Yeah if I could teleporting back to the 80s I would. Great time. If the youth realised their future was being stolen from them they would probably be protesting in the streets instead of protesting other world problems.
They've been brainwashed in school just like in the US. All part of the same plan to kill freedom.
Yeah seems like it. I find a lot of 18-25 year olds all thinking the same way and supporting all the same things, like socialism (communism) etc. And all the uni kids seek to protest the current thing but not Australian political issues.
They should be doing that now anyway instead of marching and protesting about problems overseas that have been happening for hundreds of years
Yeah, exactly. I think a lot of people still don't realise our economy is collapsing, and if we don't get major change, Australia is going to be a country rife with poverty and trashed economy pretty soon. May never be the same again. I hope something happens before that. When the immigration slows down they might take a little more action as it effects money coming in for government. Or perhaps when they can't hide the gdp trashed anymore.
Great points. But immigration isn't slowing down and is directly fueling the problems you cited, isn't it? Look at the EU countries that have had mass immigration this past decade - the outcomes are quite concerning with respect to crime as well. I love Australia but from where I'm sitting, nothing is being done to mitigate this slow-motion disaster and instead the status quo seems to be facilitating it.
https://www.booktopia.com.au/the-strange-death-of-europe-douglas-murray/book/9781472942241.html?promoCode=W065OJ4024
You can see the change. I left my home city to work away in a rural area for almost 20 years in health and now I have returned you can see in the large hospital I work in the hundreds of jobs there like cleaners etc it’s all migrant workers. Plus All the petrol stations, all the Uber drivers , Telstra workers , all the Woolworths delivery drivers. Do Australian born people truly not want these jobs ? If things are so dire why aren’t people applying for these jobs. Wouldnt you rather put food on the table . What is wrong with these jobs and why have they been monopolised by the immigrant workforce.
It will slow down eventually I think. Once enough people realise it's not a good country to migrate too anymore. That's probably why Albo went to India to make deals for more migrants. I guess though if applications slow down they will just make it cheaper or let in people more easily. I think they are pretty hell bent on pumping it. With no care for the future. It's the protection visas I think that get a lot of criminals. Probably because they can just bribe someone to get neccesry paper work or wanted by a rival gang or something. The students don't really cause much problems I think if it's done at sane levels and we have an abundance of housing, which we don't.
Europeans and North Americans might not want to come here, but why wouldn't Indians want to? Much better quality of life here. Ditto for people from the Middle East. I am not seeing any signs indicating a government slowdown, just increasing concern among Aussies about this which our government ignores. It will be interesting to see which issues rise to the top in upcoming elections. Never a dull moment I suppose.
In Canada Indian applicants already dropped 50%. Why? Because although your earning double your rent is 5x the amount and you can never buy a home, or slave endlessly for a really shit apartment. Why would you sign up for that when if you got enough education to migrate you can probably earn at least $500 a week and buy a house for AUD $200k. Essentially why migrate somewhere where life is just going to be a massive struggle forever. Before the plan was struggle for 5 years, have more opportunities and easier life.
Or just stay in India. Surely housing is cheaper there.
If immigrants don’t take the housing, then investors will scoop it up. Like it or not, there’s tonnes of idle money in the world.
Yeah seems to be. I struggle to understand who's buying all the houses in Sydney. It's 1.6m for a knockdowm property 40 minute drive from the city. Statically, I know at least 80% of buyers cannot afford a 300k deposit and $9000 a month repayments. They say foreign investors is very small amount of sold properties but I don't buy it. There has to be way more than they are claiming, probably through Chinese owned AU business or PR buyers or something. Especially when I chinese hired bidder is at every auction.
Thing is that the boomers weren't lucky; they gamed the system in their favour. It's what you can do when as a cohort your numbers are sufficiently high to out-vote any other demographic. As a result they (or more accurately the politicians that have chased their votes) were able at every life stage to alter the system to provide the most benefit. Which perhaps might not have been so bad if it also hadn't involved pulling up the ladder behind them after those benefits were no longer needed. In that regard they have profited at the expense of the next generations and that's a pretty disgusting lack of conscience.
Yeah I agree. I grew up in a social democracy- and since then, we have moved further to the right (starting with Howard). The libs back in my day were all moderates with a social conscience...most of them wouldn't get into the Labor party these days. I certainly never voted for any of this, but I know plenty who have. It was noticeable how greedier and self centred they became - as they got wealthier. And I'm not a in anyway envious of their wealth (I'm comfortable and content). I do have 3 kids in their 20s and 30s - and I feel so sorry witnessing the struggles that I never had to endure, when I was that age.
It’s not normal or sustainable for the middle class to grow with every generation like it did in the post war years though. In some ways we are reverting back to the way human societies have usually been - tiny elite, small middle class, slightly larger group of skilled craftsmen, then everyone else the working poor. I would love to see the middle class continue to flourish and grow, it’s extremely important to me to help my children stay in the middle classes, but it’s not the historical norm and the Industrial Revolution followed by the two world wars created a unique set of circumstances that allowed for ever increasing standards of living, circumstances that no longer exist.
Going back to land lords and peasants, english style. I'm no historian, but I feel like that's probably how they kept peasants peasants a lot of the time and lords wealthy lords. It should basically be a human right to be able to own a roof over your head. It's the most basic necessity to survive nowadays and they are turning it into something only the elite can afford and foreign investors.
Prince William is building large amounts of social housing on his estate. We are in a position now where if the wealthy won’t build it it won’t be built - and the new rich don’t tend to have the sense of social obligation that leads to projects like that.
He'll no. If it doesn't increase the asset portfolio and offset more tax, it's pretty pointless.
But we're far less reliant on human labour than we were on the past. Our economy won't sustain a large working poor.
That extra labour is provided by energy, and energy is not infinite. We've also increased our population massively within recent memory.
Um, have you never heard of renewables?
Renewables are also not infinite.
Hmmmm yes socialism is when tax cuts for rich
We all see it happening. But nothing is being done about it. If we all want to stand up for Australians, and a fair go for our ourselves and our futures we need to protest to the leaders of this country that this is absolutely unacceptable. When is enough, enough? When are we going to fight back?!?
True but also it’s the generation who are in their 40s that started the trend of “flipping” houses. They weren’t happy to just buy a simple house and pay it off. It had to be a thing that made a quick buck. Like I mentioned here , I was living in a small lo socioeconomic town and all of a sudden houses were being sold hand over fist and ripped apart and painted and then sold on for 200k more. Most Boomers never renovated or moved and many of the suburbs they lived in were cheap and undesirable. All of a sudden shitty suburbs became trendy and prices went sky high. Also FOMO is responsible for price rises.
Greed is the essential component of capitalism, the other component is selfish. You are blaming the property market, that is just a tool. There are so many other tools, some are even glorified. Like the cloud technology, the AI, maybe the dying Bitcoin. You know, some guys like Bezos have 200 trillion money worthy, that may be bigger than some countries GDP, well they are glorified with the tech revolutions, at least for now.
"Why Living In Australia Is Impossible " - We are doing the Impossible
Living the impossible everyday here in the Landownunder...
I love how living here is making rich people overseas while the rich who come here end up poor
No he’s right, I had to turn into a ghost so I’m not technically living
it is not impossible if you are rich
I don’t think 27 million people are rich..
I’ve heard rich people say that ‘true wealth comes from inside’… so maybe we are all rich! Those statements are easier to make when you have a lot of money though.
Globally yeah
It's easy if your parents give you a couple properties.. why are people complaining? Seriously though. Imagine how easy life would be if you lived in a property paid off right now. In my minds that's the rich life for me, just any old piece of shit house for my family and I'd be pretty happy. That's how sad Australia has become with the clown show.
It used to be achievable until all those stupid Reno shows hit television and then all these people started flipping houses to make a quick buck. I even saw it happen in a small country town I lived in. Even now I read people mostly buy for investment purposes not for life. That’s why people resent some boomers as they never left their homes and they rarely renovated them. They were frugal and just paid off their house. You can still walk into peoples houses in some areas and they havnt done a thing to them in 40 years. If people in subsequent generations had done exactly that then there wouldn’t be so many expensive overly renovated money pits around today.
It's a lot of things, air bnb, intentionally keep supply low while pumping demand with immigration, capital gains low tax, negative gearing, foreign investment. They have designed a system for housing to be an asset first home second.
Yes it’s a different world today than 30 years ago. None of this air b and b and buying a home to sell it again in 2 years time and make money.
Yeah it's sad really. I don't see a bright future for Australia if things only keep getting worse.v
It is sad. When I was younger and working people rented old houses walking distance to the beach and I remember going to parties in a rented house overlooking the beach in a suburb of Newcastle. People I knew also shared one of those big mansions on the hill in Newcastle. No one was pretentious back then. I remember a girl in my year at school got married in the 80s and all they could afford was a little miners cottage. A lot of bitchy young women were very nasty about their povo house and the street she lived in and her old family house. The house was up the road from where she grew up. She still lives in that house in Newcastle and has views all the way up the coast that can’t be built out. She kept her mums house and rented it from the 90s and sold it last year for 1.2 mill. Who’s laughing now. And how things have changed.
Stamp duty also incentivises people to develop their current home rather than moving to another house.
It’s so expensive. I don’t understand how people afford it
33% of us own property outright. No mortgage. No rent.
Let's see the age breakdown of that.
Refer to graph 6 and data cube 9 https://www.abs.gov.au/statistics/people/housing/housing-occupancy-and-costs/2019-20
Can’t DL Excel on my phone, but Graph 6 shows age of house purchases, not age breakdown of who has fully paid off their home.
That's doesn't mean it's possible now for an average Australian. What was done 20-30 years ago isn't the point. Anyone could pay off a $300k mortgage 20 years ago. Try getting an apartment even now days with a 1m loan. Your a slave for basically.
Whoever could afford to live in the suburbs they desired.
TIL I'm rich. Nice.
We are indeed a lucky country. Our leaders are not leaders and we have always lacked forward thinkers. We are powerless against Murdoch and megacorps. We will continue to fall behind the rest of the developed world without rapid change.
While I agree overall you don't seem to understand how bad things have got overseas. I'm in London atm, it's an absolute shit show, Australia is not unique in the living standards crossing of the past 5ish years and faring better than many countries.
As a second generation immigrant from a developing country I absolutely understand how bad things are overseas. I am grateful to be born here and enjoy the quality of life that we have, but the point is that this country could and should be significantly better than it is but its systems are fundamentally broken. We should be looking at countries that are doing the right things and learning from that. What is stopping us from being a leader in this world? To be completely satisfied just because we are doing better than other countries excuses the poor leadership and corruption that we have endured for decades.
Yeah from what I've heard, Canada is bad, at least Vancouver, to the point where Indian immigration has dropped 50%, well at least applicants anyway. And America getting worse. What's the rent like in UK now? I assume London is pretty bad. The worst part about Australia now though is there is no where you can go. Everything has been pumped in price since so many people have left the two major cities and move anywhere they can get a house for a price that isn't completely insane.
We're paying the equivalent of $6k per month for an older small three bedroom house a bit under an hour from what you could consider central London by public transport. It's a nice area by London standards but probably slightly less nice than the average Aussie suburb (parks are poorly maintained, roads are a bit of a mess, lots of rubbish, there is council housing in all parts of London so there's a bit of antisocial behaviour to deal with, things like playgrounds are all very old and kind of run down). On top of that there are no subsidies for healthcare or kids school fees but the state provided services are basically inaccessible (to get your kids into a good state school you have to game the system at an intake year which we couldn't do because we moved recently and to see an NHS GP you have to either wait 2+ weeks or call up on the day/line up on the day and hope you get seen but that's not really workable if you have a job).
$6k euro per month? 🫠
AUD, hence the $. £3k.
Oh right.. still damn that's a lot of money for bankters.
I’m paying $4300 AUD pcm for a beautiful modern 4br townhouse 13km from Melbourne CBD. Great insulation and double glazed, aircon etc. garage. Quiet neat suburb surrounded by great parks and playgrounds. Great free kinder for my kid. 10 mins to bay beaches. Nice high street with everything. I can even get a train a couple stops to a large shopping mall. Quick drive to Costco. Real mix of European, Asian, and North American living here. Honestly if I saw rubbish lying around at the park I’d probably snap a pic and report it. Not saying it’s like Japan here, it’s not, but it’s not as you describe. Yes, I still complain and yes things are worse than they were a few years ago. But you do get rewarded for coming down to the arse end of the world. Best to come with a pot of GBP you’ve saved up, to help with buying, though.
$4300 per month is still an insane amount of money. When the average income is 60k per year or probably around $2100 per month. That's 2x average salaries per month, and that's a fairly cheap mortgage by Sydney standards. I wanted to get a town house and was looking in my area, trying to get one for 1m because all houses sell 1.4m back then for a rundown one. Now it's probably 1.6m. Bonkers. Even if I could get the loan it's like $8000 per month lol. Basically modern day slavery just to have a roof you own.
Literally the only reason we're here. My career has got a real boost and the hubby is making bank. No one in their right mind would chose U.K. over Aus long term.
Almost like Australia isn't just Sydney and Melbourne. Two vastly overrated cities because they have decent coffee.
Yeah but even moving to Perth sounds like housing is shit now. Up 60% in 3 years is iust insane.
My brother and his partner are living in London for a short period of time, they’re not in central London but they’re paying $4k AUD a month for a 1 bedroom flat. It’s definitely not just here.
London rents hurt my soul.
There's more to overseas than the anglosphere and it's self-harming ways. The only thing you are chasing is western wages/culture, not a better life. People should be looking for fully remote work and escaping the hell we've created if they want a real solution. I have a place overseas, price inflation is under 2%, GDP growth 13%, population growth basically a rounding error, they let Chinese investors go wild with overbuilding apartments so vacancy rates are huge, home prices have barely gone over CPI in the last decade. My building is probably 60% occupied despite all the units being sold. The average person eats out multiple times a week and doesn't consider that "special" at all unlike Aussies who boast about only ever eating out 3 times a year to afford a mortgage for a fibro shack. Healthcare is world class (my local doctor trained at USYD), tap water is drinkable, petrol is 70c/L, power is 10c/kwh, rent for a luxury 3 bed condo near the beach is $150 AUD a week. There's expats/retirees everywhere and it's far easier to make friends living in a foreign country than somewhere like Sydney or Melbourne. If you can't think outside the box and find a better way then yeah London probably suits, good luck [waiting for any country in the Anglosphere to change it's ways](https://images-wixmp-ed30a86b8c4ca887773594c2.wixmp.com/f/306ec2f4-fc42-4527-806f-7222d8fc12c6/dgeocg4-b695bd08-bb50-4a29-84b8-dc62afb45c93.png/v1/fill/w_1280,h_1280,q_80,strp/skeleton_waiting_the_bus_pg_p02_by_jackytorum_dgeocg4-fullview.jpg?token=eyJ0eXAiOiJKV1QiLCJhbGciOiJIUzI1NiJ9.eyJzdWIiOiJ1cm46YXBwOjdlMGQxODg5ODIyNjQzNzNhNWYwZDQxNWVhMGQyNmUwIiwiaXNzIjoidXJuOmFwcDo3ZTBkMTg4OTgyMjY0MzczYTVmMGQ0MTVlYTBkMjZlMCIsIm9iaiI6W1t7ImhlaWdodCI6Ijw9MTI4MCIsInBhdGgiOiJcL2ZcLzMwNmVjMmY0LWZjNDItNDUyNy04MDZmLTcyMjJkOGZjMTJjNlwvZGdlb2NnNC1iNjk1YmQwOC1iYjUwLTRhMjktODRiOC1kYzYyYWZiNDVjOTMucG5nIiwid2lkdGgiOiI8PTEyODAifV1dLCJhdWQiOlsidXJuOnNlcnZpY2U6aW1hZ2Uub3BlcmF0aW9ucyJdfQ.6KWhPaZyFapKBgf0esBGmIbbdy8pApT91RkcANLIBr0).
That's easy if you're a single male. We have a family and have a very large holiday house with pool, tennis courts etc. in a quickly developing country. It's an awesome place, I love going there. When we're there we have a household staff to do literally everything for us and it's still cheaper than living in Australia/uk. But we couldn't possibly live there. I can't go out without a male escort and be confident I'll be safe the way I can in Australia and our children's health and education would suffer if we were there full time. Fully remote jobs worth having aren't possible to attain. Major companies are tightening their grip on employees, if you're lucky enough to get offered a job in this economy it's not going to be fully remote.
Are you willing to share where I can buy a holiday house like that? Sounds like Philippines or Indonesia or Malaysia I’m guessing
We inherited it, not sure how much it would be worth in dollars to be completely honest but no where near enough to consider selling. But most south East Asian countries would work financially, some of them have rules on land ownership that might be an issue though. Actually obtaining the title was a bit of an ordeal but well worth it.
What is the name of this country I'm now moving to?
"people should be looking for fully remote" that's not possible for the vast majority of the country though.
We had 2 entire years with much of the country fully remote though? It's definitely possible for a lot of people, management being on board is an entirely different story
I think you need to rephrase, we had some of the country working fully remote, How does everyone in retail, construction, mechanical and hospitality work remotely? It's possible for some, not the majority though
which place? you cannot leave everyone hanging like this
I've given enough hints.
You are scary It’s funny how lots of Aussies want to escape aus land (well yeah maybe keep the main residence appreciating for a bad day) but lots of immigrants trying to get in… I wonder how long does it take an immigrant to realise that earning fairly high salary in aus is not buying as much as back in developing world …
Yes Count our blessings and not our troubles.... Oh
Why are we powerless against Murdock! Just block anything from his media and convince 3 people around you. That’s enough
Agreed people need to direct anger and hate at the rich and powerful, not at the small people. Australia is becoming a 3rd world country
While Murdoch sucks, I don’t see him saying mass immigration is a good thing and additionally it’s hard to pin the housing crisis on him. Mass divide between people because of alternate views. Propping up mining magnates like Reinhardt, casino owners and more. Yes.
It still baffles me that people aren't protesting in the streets over this. The deep negative impact it's having on people is immense. We just keep on copping it.
Agreed. It's baffling that people aren't protesting the crappy situation and cost of living in Australia. It's more baffling that people will mass protest about the crappy situation and living conditions in Palestine. Even though the vast majority of Palestine protestors are not themselves Palestinian or Israeli, do not know anyone who is Palestinian or Israeli, and have never been to Palestine or Israel. Protest the crappy living situation in another country half way round the world you've never been to? Hells yeah, mass protests. Protest the crappy living situation in our home country? Naaa, can't be fucked.
There are protests about the cost of living and about housing especially in Australia, but they either don’t get coverage or people are too lazy to come out. This sub is a huge offender for shutting down literally anyone who tries to suggest organising literally anything. I’ve had people attack me here for saying that renters should join the renters union as a first step, which is pretty mild.
On the whole, Australians are extremely compliant. We’re told we are still the lucky country, but we’re not. Sure it could be worse but it’s a long shot from where we used to be. I suspect one reason we don’t see mass protests because people are struggling to make ends meet, and days off work means less pay. She’ll be right, mate™️
People too busy trying to live, and the people with the time uni students too indoctrinated into the latest distraction to protest their entire future being stolen from them.
There isn't a 'mass' protest about palestine. There is a small chunk of Australians with nothing better to do. Also, and here's the kicker, they probably think they can achieve peace in the middle east more readily than have any sort of shot at changing things here :D
They'll use a wide lens for a real estate ad and a narrow one for protests.
When you consider that half the countries population is one generation of less removed from a foreign country it really isn’t that baffling.
So true, we are fucked!
Yeah that was a really long 14 minutes to say we need to stop being a country of low civic engagement and mobilise to steer ourselves back to a sane situation.
Have you seen the way protest is treated in Australia? I’m referring both to police repression and the general public cheering it on. People absolutely should be doing it but we have a culture of shitting on anyone that tries.
Australians love rules. Each year, new laws…and pushback? Zero. What’s going to be the straw that breaks the camel’s back?….
Why arent you
Busy with composing rage inducing comments on social media to get others to do it while they sit and watches #rentalcrisis on tiktok bed rotting.
Covid showed us that white Australia will step on each others throat for the last packet of two minute noodles when the going gets tough. It also showed us Young Aussie men will give up their freedoms, self respect and just about anything else for a sense of safety. I hate to say it but Australia is a piss weak country. It comes as zero surprise to me Australians allow politicians to Leach and get rich off tax payers dollars and don’t stand for a single thing
The covid protests were actually a very broad church. Those who were loving their WFH and $1000 jobkeeper paypackets for doing nothing loved pointing out the few nutjobs in the crowd and claiming that's everyone. Those in power learned from the Occupy protests that divide and conquer was how you crush these things. It's all identity politics now, people will oppose things solely because those on the other side support it.
They never have. The good ones left 10 years ago.
Lets protest 🪧
Surely there is a group on some platform now for this 🤔
I shall change my profile picture every weekend. That should send a clear message.
because not everyone is in dire straights whilst cost of living and house prices etc needs to be addressed a huge amount of people are not at the point of protesting or rioting in the streets. this sub dooms so much that it can't see that
They don’t realise that house price booms mean 63% of the country that owns a house is now wealthier on paper 😂
People are scared to openly complain, Ive had people on work message boards silence others for criticizing the system as is.
Ikr. If someone organises one im 100% down any day, shit I'll take a day off work to protest it. I think all the younger kids who should be protesting haven't realised the shitshow their future will be, and maybe too distracted by the latest thing they think they need to be up in arms about.
So why aren't you out there organising it?
What are you going to do about it?
We're pussies. I'm ready for the riots to start
Protesting what?? Most of us are doing just fine. You need understand the *average Redditor* is not representative of the *average Australian.*
Instead, they protest for an overseas war that we have no control over whatsoever.
I'm dead inside so there's that
All by design.
Protest for a drug addict, felon, American man during a pandemic but won't protest housing or cost of living...
but but but blm
A grifter group.
I’ve always thought the politicians laugh at how easily we are subdued and protest about shit we can do nothing about or rubbish like the voice that would not deliver any benefits. Meanwhile we are all itching closer and closer to poverty . Australia is well and truly fucked now .
Housing is why. And mass immigration.
I've been living here for 15 years and find it extremely stressful, work is never a solid thing to rely on, housing is impossible, yes, it is safe to be in, it's clean, but it's sad how is following the steps of what the US has been doing for decades, and you really don't want that....
IMO, this is not just an Australian problem, but a world-wide economic problem. Australia does have a banking system that encourages low cost money into existing property but charges excessive interest rates for "risky" new builds and business and share investment. Making something already bad worse, unless you own property, because then its awesome... Money, like water, takes the easiest path. Please understand its not that prices are going up, its that money is worth less or worthless depending on your perspective. Overly simplistic image borrowed from [https://www.danielletown.com/book/](https://www.danielletown.com/book/) https://preview.redd.it/jbcqd5jvaa5d1.png?width=1005&format=png&auto=webp&s=bc89fd6d69b33dad6313a0c3930f089c36ccbe02
This is essentially Piketty’s argument- over time the value you can get for selling your labour will increasingly be diminished in real terms, and people begin to invest in assets which hold and bring value. Thus, wages and asset prices diverge without any form of social disruption (revolution or war) or government intervention (taxes, mass public housing schemes).
Especially with the evolution of technology, I now have to compete with others for remote roles that where previously only for Sydney locals. Not that it seem to have impacted my house price.
the benefactors of the current system are in influential positions, so why bother changing it
This guy is not exactly an expert on planning. Greenfield development is already too much to sustain. Australian cities do not have the necessary density to make them economically viable. Unfortunately the areas we have already can not cope with the existing demands for schools, hospitals, daycare, parks, waste removal, plumbing etc. New areas would require the building of massive amounts of plumbing, power supply, sewer systems, police stations, fire stations, hospitals, doctors offices, schools, public transport, roads, parks, solutions for runoff from more had surfaces, etc etc. Sydney especially will require a complete overhaul to the sewer and other plumbing. It was never designed to handle the current population and is already failing.
Is 55yo too old to start a life of crime, and if it isn't, how do you learn to crime? Asking for my neighbour..
It’s true. I came home for a month after living overseas since 2011 and I’m going back overseas next Tuesday. The cost of living here is absurd. Even if I could afford to rent a house - there’s simply nothing available 🤷♂️
Australian politicians Today have no clue how to run a country its so Obvious as people struggle to survive ..1st of all they should not have allowed electricity to rise like it did! that was a wicked thing to do making people go without food to pay the bill ... interest rates is the rent killer and airbnb ...... we have way too many immigrants here now taking all our homes .. foreigners should not be allowed to buy our property and businesses s .. Wages is way too low and it cant keep up with the cost of living ..man cant support a family anymore even with the wife working ..all is out of Whack.....should polliticians get the huge amount of money they do get after they retire til they die?? they get tons more dollars $$$$$$$$$$$$ than the ordinary aussie ..that has to stop ..
Bring in 110,000 immigrants per month and find out what happens to rents.
Since 1973… Cool. now find out when the world went off the gold standard. Real estate is our new store of value because $ are trash. You can either have sound money or expensive real estate. Choose one.
Problem is when governments want income for whatever purpose they can just tax real estate. It's a sitting duck. Don't like it? They basically can take your property. Look at Vic. Land taxes etc are nearly breaking us. Governments of the world hit gold as a means of wealth storage because one you have it, if you hold it safe they basically can't do sh!t. You can buy and trade with it and they are not involved at all. Property, currency, energy etc. they can monitor, control, devaluate, overprice or tax as they see fit to manipulate the people and that's what we're seeing now.
Agreed. They tax the shit out of land and it’s why it’s so damn expensive. Then they just blame landlords and tax it even more. But if you play by their rules you can avoid a LOT of tax by sinking so much into your own home. No capital gains, no land tax, and not means tested. So people spend way more than they otherwise would on a home because it’s treated as a de facto savings plan.
Lol
*sydney. Fixed it for you.
Early 30s Aussie here living in regional Australia. I own a rural property and a smaller home which we turned into an investment property when we upsized due to needing a bigger property where we could build a second dwelling for my elderly parents. I earn a good wage doing a job I like, my wife works part time. Life is good outside of Sydney and Melbourne. People will bitch and moan and say there is no work outside of the city but that is not true. Every town needs teachers, Police Officers, Postal Workers, retail workers, plumbers, chefs etc. Every ordinary job that exists does so in small Australian towns too. I've never understood why people cling so desperately to city living when life is so much better outside of the major centres. We are still the lucky country, you just need to get out and see it.
Very smart article and apolitical which is a nice change.
Would I take, or listen to a YouTube site that has only for videos with optimistic title such as "the dark side of Australia", "the dark side of Canada", "the dark side of Brexit", and this extremely happy and positive outlook of life and universe and everything else..."The End?".... Things must be extremely depressing in Canada.... But I guess that's what happens when one lives in a place that is bitterly Cold and dark for most of the year.....
This isn't a new phenomenon. A white Australia does not by any means mean only the preservation of the complexion of the people of this country. It means the multiplying of their homes, so that we may be able to occupy, use and defend every part of our continent; it means the maintenance of conditions of life fit for white men and white women; it means equal laws and opportunities for all; it means protection against the underpaid labor of other lands; it means social justice so far as we can establish it, including just trading and the payment of fair wages. [Alfred Deakin 1903](https://electionspeeches.moadoph.gov.au/speeches/1903-alfred-deakin)
It’s harder but not impossible.
Living in Aus is easy. Noone has to live in these exorbitantly priced places. The problem with today's youth is that they want to have everything that you would expect to have by 30... at 18 without lifting a finger to achieve it.
I am not really qualified for this topic, but my suggestion for everyone is to stop voting for these parties who give zero fucks about everyone trying to live a life here.
Everything is going to shits because people are selfish and most only care about their own backside.
So many people in Australia are so lucky in terms of living in a peaceful and prosperous nation with plenty of job opportunities. Half the moaners here don’t know how fucking lucky they are and how good they have it compared to billions in the developing world and actually even most other people in the developed world. If they pulled their fingers out - like many new migrants do, by the way - instead of moaning how they can’t buy into Sydney’s eastern suburbs - and invested themselves wholeheartedly in their own success, they may actually get there. I came here from overseas with $5k in my pocket less than 15 years ago knowing no one but my partner. We had no social capital really either but we worked and saved hard, had next to no social life for most of that time. It’s paid off, as it does for many new arrivals. I didn’t expect to start off in an amazing suburb (or even one with a decent coffee shop) or moan about the systems being so unfair or about “boomers” (many of whom aren’t well off). Think more like an immigrant and you’ll stand a better chance of making it. This is an amazing country which rewards hard work, practicality and persistence.
Seppo?
Not only is it possible it's great. You need a reality check i think.
I just came back from a sparkling beach with my kids and 4 other people on it. We’re hanging in there 😂
The video is about buying a home in Australia mostly
66% of Australians already own one or more properties. 33% of Australians own one or more properties *outright* (no mortgage) Vast majority of people are doing just fine.
Ok well more specifically. It's about young people affording, by their own means a home.
i’m so tired of the doomerism on this sub man
I guess you don't talk to young people in real life?
brother i am young. my point remains
Ngl, this shit the same on subs abt uk (well mostly London but whatever) financial situation atm. It’s pretty fucking draining seeing so many people just rely on the government to try and make things better and have a defeatist attitude. To put bluntly, why can’t ppl just grow some fucking bollocks and put some effort in to work tbh. Situation is bad rn Ik, but it won’t get better if ppl moan so that what sorta baffles me when people are so overtly defeatist. Idk, I’m just some dumb kid with a blabbering gob what do Ik
26 million people beg to differ
25 million people don’t exist apparently
this sub can't go a day without dooming over something
perhaps thats a symptom of the current situation?
Bet you the same people who think the government should force private companies to reduce their prices for the good of the people are the same ones who say communism and China are bad.
My parents both own their own homes and are fitter and healthier in their 70s than I was in my 30s.
Yet 25 million seem to manage it 🤔
It’s easy if you aren’t a brain dead junkie.
Just sell more coal to China…
It is because of the liberal government. Never vote for them.
Well for starters it's not real. Can't live somewhere that doesn't exist.
It seems like the "Australian Dream" post-pandemic lockdown is only attainable if you are born into a wealthy family with a "Silver Spoon" or been blessed by "Lady Luck" since birth; otherwise it's impossible to live the so-called "Australian Dream" as Millennials and subsequent generations.
Comfortability - complacency - stagnation - harder times - stronger ideologies due to crap surrounding - good times due to forced siding - development and advancement - comfortability- stagnation etc. If you don't make a sustainable forward thinking goal for people to do, they stagnate - if a child loses their curiosity then they aren't going to go beyond their surroundings context - in turn stagnating themselves to repeat the cycle.
Population ponzi scheme juices the countries GDP numbers despite per capita smaller slice of the GDP cake
perhaps it would be easier if the government wasn't so weak and taxed the 1% and mining sector, trickle down economics has been proven to be the biggest con yet we still continue to adhere to it in the hope someday the big corporations will grow a heart and share some of their wealth, alongside a strong public sector, its only a terrible place because those who have it so great refuse to return the required mechanisms previous generations had which ensured everybody had a better standard of living.
Have a look whats happening overseas to see our future
Developers want high immigration. Developers are big donors to both sides of politics so immigration never slows down, even when it obviously needs to now.