I think that ordinary young Australians are just being drawn and quartered by overseas investors . Who have access to printed money and just need to be given a break from all these external factors that are changing the demographic population . Just an observation (an unfortunate one)
@@moeuramo As if the local multi property investors are any better. If you think of a house as a roof over your head, rather than a speculative instrument, then everything that relates to social services sort to speak are partly or wholly privatised and made into instruments of making money : child care, health incl NDIS, uni education, the list goes on.
Bhp have now announced a stop to their nickel operations in WA, this adds to the job cuts in the mining industry from Mineral Resources a few weeks back, while BHP and Rio Tinto have also made cuts in their iron ore division as iron ore prices keep getting smashed (albeit with less media attention). This has got to be a sign the WA property market may be seeing it's final days in the sun.
Population of Perth is around 2 mil, I think. Job cuts of say 4-5 thousand will not make much of a dent with such high immigration. The shortage of housing is at its worse in Perth, I think, due to lowest building numbers. Also, looking into the future, they will only be digging more, maybe not for the iron ore and nickel, but for gold, uranium and whatever else. The western world alliance so to speak is also starting onshoring and safeguarding commodities as far as I understand.
I working in iron cost a bit over 10 au a ton selling around 100Us small mine struggling yes but no sacking yet natural attrition is happening and a good chunk of fifo live outside of Perth Margaret River Bunbury Exmouth Melbourne etc. nickel not as profitable and mining a boom bust business.
Unfortunately I think house prices will keep going up in Perth as there are more immigrants with large amounts of money coming in than locals losing their job. Immigration will not stop either. Basically China and India want to live here, that's 3 billion people, say just 10% of their wealthiest 1% want to buy here, that is 3 million people. And these people don't come to buy 1 property, they buy like 5.
There was a theory that rate rises and inflation are forcing house listings down, but rate cuts would potentially burst the dam on house listings. Interesting to see what happens.
Niche Living in WA. 236 properties unfinished on the books. They owe $3.8M to the ATO. Next one to go under. They been having talks with the State Govt. Hopefully they won't bail them out.
I had the unpleasant experience of doing some temp work for them in 2015 and even then they were having countless issues with the quality of their construction. I’m actually shocked they’ve lasted this long.
Plenty of people are willing to start an apprenticeship at the minimum wage but can't find a position. No one wants to train apprentices these days. They are all expecting experienced immigrant workers.
That was the first one. Do you recall who took the $13mil people raised? Not one cent was given to people who lost houses. I was on the can when it happened but the wife and were at kotars when the place exploded.
I’m a brand new listener. I think you’re both very knowledgeable. However as a listener, your audience, it’s almost impossible to follow as Edwin stutters through his conversations. It is a turn off. It probably extends the conversation another third when words get stuck and repeated. Otherwise great info
