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I'm sure many people are going to point it out, but in the video, I call Sydney a capital of Australia. It's not the capital and I'm an idiot. I know. Hopefully, it doesn't ruin the entire video for you, but I deeply apologize to all the proud residents of Canberra.
I'm not sure if it's as easily done, but isn't it possible to rerecord this bit and add it? Or would you use your current views? Either way, might be worth it.
They could build affordable housing, but it's impossible to build affordable housing without hurting the economy. Developers, investors, and home buyers spend billions on those expensive houses. So if the price of those expensive houses were to fall due to an increase in affordable houses, they would not be able to pay back the billions in loans borrowed to build/buy those houses.
Volume is pretty bad on vids. I have to turn my volume to max to be able to hear you properly. Which becomes annoying because of the ads that pop up and blow out the speakers. Not going to even attempt as using headphones because I don't feel like going deaf any time soon. The sound on your vids could be a problem in holding back people from subscribing.
I’m Australian and Canberra is a shit hole no one cares about to all Australians, syd and melb are the important cities, Canberra is a mere administrative hub.
Australia, Canada, New Zealand etc - countries where a foreigner can buy properties and no questions asked. Money laundering on a large scale. Mostly Chinese syndicates own thousands of homes in these countries.
The Chinese own a lot. As they work under one government. While the privateer works for many masters all in competition with each other to no ones gain.
@@yosefgamble5219 a ha not since 2018, but the new coalition government will apparently reopen the luxury housing market of properties worth $2million+ to overseas investors. Another sellout move that’ll cost us in the long term if it doesn’t devastate our domestic housing market quickly that is, i dare say the cost of living crisis has reduced the spending power of locals and savings have been ravaged😩
A couple years ago I would suggest moving to Adelaide. But it’s tough here now aswell. Although there are torrens title places in the northern suburbs for around $350k. Older places but it’s a start 🤷♂️
Spot on mate. Life here is t good anymore its so hard when working my shiteful casual truck driver job. Im getting less work even its truly a dreadful expensive and boring place to be while i watch chinese buy up everything and Indians getting all the work. As they are undercutting of course. Work for peanuts.
I lost a job to Indians a few years back cheaper to hire. In regards to cheese slices I went to buy one of my kids honey and it was 27 dollars for the squeezy tube my wife usually does the shopping I couldn't believe the price hike. Liquid gold
Australian here. He is generally right about most things. He only quickly mentioned tax concessions as an issue but that and government policy in general is the big reason. The way tax works here for property makes it a huge way to make money. Then combine a dodgy banking system and you end up with a few people owning most of the properties. And if your a rich foreigner, if you buy over 2 million worth of property they will give you a passport. Then you have government policy and incentives that give people money for deposits. This seems like it helps but all it does is make property prices go up. When they had the covid lockdowns, they also stopped homes being built. So basically about 200,000 homes weren't built over those 2 or 3 years. Then they opened the borders back up and prices went through the roof. Finally, our housing minister for the government has 11 investment properties. Obvious conflict of interest as there's no way she will every do anything to bring prices down.
@@whitneyanders5945 it wouldn't have been any different. His party has always been against tax reforms to make housing cheaper. Their party also owns investment properties. They also want prices to go up.
Yes! And Wealthy foreigners are mostly Asian sweat shop owners that dump their kids here as students to the can later be sponsored in. Original Aussies should be angry?
The smartest thing that should be on everyone's mind right now should be to invest in different streams of income that are not dependent on the government. Especially with the current economic crisis around the world. This is still a good time to invest in gold, silver, and digital currencies (BTC ETH...).
Well explained. Financial education is indeed required for more than 70% of society in the country as very few are literate on the subject, thanks to Mrs Charlotte Walsh the lady you ones recommended
Wow.. I know her too she is a licensed broker and a FINRA agent she is popular in US and Canada she is really amazing woman with good skills and experience
Part of the reason Australians don’t want to live in high density housing is that you end up having to pay not only a mortgage but also exorbitant body corporate fees, it’s like having a second mortgage to pay which can never be paid off.
@@BB-xx3dv Sure, put they're doing that on purpose for a tax advantage. Also, you can't exactly make it your life goal only to rent from people who are changing under their mortgage and OC. Oc fees are ridiculous cheap anyway. It's not like you're not forking out rates and fees on lands. I feel all your arguments are just focused on being in the weeds and not taking in general about the subject .
@@BB-xx3dv Sure, put they're doing that on purpose for a tax advantage. Also, you can't exactly make it your life goal only to rent from people who are changing under their mortgage and OC. Oc fees are ridiculous cheap anyway. It's not like you're not forking out rates and fees on lands. I feel all your arguments are just focused on being in the weeds and not taking in general about the subject .
I used to comfortably rent a 3 bedroom house my whole adult life. I'm now 45, employed and sleeping in parks and creeks as I haven't been approved for any housing, with so many applicants and my single income doesn't look good for the future. Admittedly I do sleep in some beautiful places for free, I also pay $500/month for a storage shed and spend a shit load of money on aeroguard!
Yet not one Australian will demonstrate - they were born to be ruled. Even during Covid their "respect for authority at all costs" made them dob in Covid deniers in the thousands. Blame yourself Aussies you will still vote for the 2 big parties come election time.
It's so fucking sad, I remember Sydney in the late 90s and early 00s.... it had its flaws... but there was so much energy in the city and people were genuinely happy with life... nowadays everyone got their head down in their phone... all look angry/stressed.
It’s worse than that, people can’t get rentals either and rents are high. The building industry is unregulated, so even if you build there are cowboys out there.
The problem isn't because it's unregulated; quite the opposite. You clearly don't understand basic economics. Otherwise, yes, rents are high and people struggle to find places to rent.
@@twisterli9177it depends on which part you are referring too? The building industry isn’t regulated. Folks can build multimillion dollar homes that need to be demolished. Waiting over 3 years for their home to be built because of the free money a few years back to improve the building industry. The rental market is having mum and dad rental investors leaving in droves because of the interest rates. Overseas or interstate investors buying all the cheaper established homes. Not enough land being made available to drive up land prices. Not enough housing on the buy or rent market. Folks offering way above market value on established or rental homes to get a foot in the door. Even me in my 50’s sold my home to build and I couldn’t get a rental and I’ve been forced to move in with my parents. Which I’m okay with now because I’m saving.
@@KatieB33 how are you defining 'regulated'. I am defining it as government interference into the market. Ask your friend why is it taking 3 years to build. I bet you it is because of council or environmental requirements.
@@twisterli9177I’m in Perth and our building industry is not regulated. We have hundreds of people waiting for builds because of the government subsidies they gave away during covid.
Housing in Australia is worse than bad right now. I’m one of the lucky ones. I’m homeless due to being disabled, unable to work and unable to afford rent, but I am lucky at least to have a roof over my head for now. There are so many more who’ve had to resort to housing their families in tents and many more living out of their cars. Lots of people paying most of their income just to keep their rental. Australia likes to make out that we take care of each other but the truth is that it ignores its most vulnerable and makes getting assistance very difficult and is looked down on by others. Meanwhile the rich capitalise on crises like this and bleed everyone dry and then they complain when people don’t have any money left to “support the economy.”
People shouldn't have to pay these amounts, amounts that take over half of their income to have a roof over their heads, haven't heard of people living in tents in our area in Australia but that doesn't mean they don't exist, they definitely exist, and it should be seen as inhumane to allow our people to have to resort to these measures. I worry each and every day about will my disabled relative be able to pay her rent. The sad truth is that you either try to tough it out with the rent increases or try to look for any homes that are available for rent: Which won't be easy at all due to the demand for housing.
@@Vivaerti It’s ridiculous. I was previously paying 50% of my income in a share house. Wasn’t even my own rental. Families are struggling on multiple incomes. Single people don’t even have the dignity to live in a decent house on their own in this country unless they have wealth or someone else taking care of it for them. I’m priced out of affording anywhere on my own, even for the most appalling properties available.
i pay less than %18 of my income for rent and im close to minimum wage and i live in Melbourne cbd i dont see why people pay that type of absurd rent @@chronic_daydreamer
On four occasions Dom makes it abundantly clear that he is totally committed to Australia having LARGE-SCALE immigration programs. This is because the MORE featherless bipeds you draw into the country is going to propel the economy by virtue of increasing demand of goods and services. He informs us that, he is a “big proponent of economic immigration”, and how this comes to fruition by way of the population of Australia (proportionally speaking) is increasing twice the rate of the US, and 6 times higher than France each year. One aspect of this program that he singles out is with international students: who are classified as temporary migrants - the great majority of whom are hoping to utilise their time here to gain permanent residency. Apropos to this, comes to pass with gloating about the revenue that international students channel into the country to stimulate the economy. Alas, the 1.1 million international students currently in Australia are the key factor with why availability of properties to rent, and why it is that rents are exorbitant. Therefore, because these interlopers need places to live in must culminate with placing extreme pressure on the availability of properties to rent: and this is so in all of the capital cities. This irrefutably means that, collectively, because they are vying for abodes to live in equates to them being responsible with why Australians are paying excessive rents. To demonstrate just how much Australia has OVERDOSED on international students is to point out that, the US, with a population 13 times that of Australia, has just (sic) 1.4 million international students in its dominion, in comparison to its 1.1 million. This means that for the US to have a ‘comparable’ number of internationals students to that of Australia would require it to have at least 13 million. Aside from these interlopers dispossessing Australians from having abodes to live in and, indeed, why rents are between 20-25 more than what they should be, another dire consequence of MASSIVELY OVERDOSING on ISs prevails with them being between 65 percent to 48 percent of 11 of the top 14 universities in Australia. But, of the 1.1 million in Australia, less than 200,000 undertake courses that can be construed as being worthwhile: such as medicine, engineering, architecture and IT. Amongst the remaining 900,000 is taken up with studying business and accountancy (400,000). Also, there are also in excess of 150,000 people in Australia on a student visa enrolled in vocational education and training courses: these courses include mundane spheres such as cooking, and hospitality. As for the rest, there are well over 100,000 foreigners - significantly from the PRC - studying English. And there are also at least 60,000 people in the country enrolled in primary and secondary levels of study. Clearly, the treacherous cohort of politicians - who are acting at the DEDICATED behest of educational institutions, big business concerns, and property developers - are fully prepared to sell their own people out: in order to propel economic growth. Unfortunately, what these low-life cretins don’t care one iota about is the horrible sociological cataclysm that will come to pass in 10-15 years when these re-colonists with no allegiance to Australia will subjugate the host country and people.
Great video Dom. It is such a shame what has happened - my grandparents emigrated from the UK in 1969 and were able to buy a lovely house in the Adelaide suburbs for peanuts, despite the fact my Grandad was a welder on a modest wage. Nowadays someone in his position probably wouldn't even be able to afford to rent a decent house! Like you say, Australia either needs to build densely - ie lots of apartment towers in the cities - or build new settlements from scratch, otherwise the situation will become completely unsustainable. It's similar in New Zealand.
Nowadays, trade people charge a lot and earn a lot. Many trade people do not pay the right share of their tax since they charge cash for jobs. In Australia, doing some blue collar jobs earns much more than average employees.
Now we have mass migration of third world peasants - it's completely unsustainable even if you build high rise apartments. Australia can't sustain these numbers and is becoming a third-world country. More and more people will end up living in tents.
If wages and taxes are the problem, then this country would have been unaffordable all along. However, thats not the case at all, Australia was a great, affordable place for decades and decades. Are you from America by any chance??
On four occasions Dom makes it abundantly clear that he is totally committed to Australia having LARGE-SCALE immigration programs. This is because the MORE featherless bipeds you draw into the country is going to propel the economy by virtue of increasing demand of goods and services. He informs us that, he is a “big proponent of economic immigration”, and how this comes to fruition by way of the population of Australia (proportionally speaking) is increasing twice the rate of the US, and 6 times higher than France each year. One aspect of this program that he singles out is with international students: who are classified as temporary migrants - the great majority of whom are hoping to utilise their time here to gain permanent residency. Apropos to this, comes to pass with gloating about the revenue that international students channel into the country to stimulate the economy. Alas, the 1.1 million international students currently in Australia are the key factor with why availability of properties to rent, and why it is that rents are exorbitant. Therefore, because these interlopers need places to live in must culminate with placing extreme pressure on the availability of properties to rent: and this is so in all of the capital cities. This irrefutably means that, collectively, because they are vying for abodes to live in equates to them being responsible with why Australians are paying excessive rents. To demonstrate just how much Australia has OVERDOSED on international students is to point out that, the US, with a population 13 times that of Australia, has just (sic) 1.4 million international students in its dominion, in comparison to its 1.1 million. This means that for the US to have a ‘comparable’ number of internationals students to that of Australia would require it to have at least 13 million. Aside from these interlopers dispossessing Australians from having abodes to live in and, indeed, why rents are between 20-25 more than what they should be, another dire consequence of MASSIVELY OVERDOSING on ISs prevails with them being between 65 percent to 48 percent of 11 of the top 14 universities in Australia. But, of the 1.1 million in Australia, less than 200,000 undertake courses that can be construed as being worthwhile: such as medicine, engineering, architecture and IT. Amongst the remaining 900,000 is taken up with studying business and accountancy (400,000). Also, there are also in excess of 150,000 people in Australia on a student visa enrolled in vocational education and training courses: these courses include mundane spheres such as cooking, and hospitality. As for the rest, there are well over 100,000 foreigners - significantly from the PRC - studying English. And there are also at least 60,000 people in the country enrolled in primary and secondary levels of study. Clearly, the treacherous cohort of politicians - who are acting at the DEDICATED behest of educational institutions, big business concerns, and property developers - are fully prepared to sell their own people out: in order to propel economic growth. Unfortunately, what these low-life cretins don’t care one iota about is the horrible sociological cataclysm that will come to pass in 10-15 years when these re-colonists with no allegiance to Australia will subjugate the host country and people.
Immigration laws are being rapidly changed to limit the number of people who can settle in Australia. The ‘golden visa’ system allowed any wealthy migrant to essentially buy their way in to the country, and these people often paid cash for homes, building massive property portfolios which they write off on tax if they own a business. It’s completely ruined Melbourne and Sydney and has jeopardised their unique character and displaced local people. There are loads of dodgy real estate agents helping to inflate prices for their commission fees. It’s a mess and we need to kick out these dodgy operators asap.
I'm living in a rural town in Australia and the average home is 15x the average salary. Grocery shopping also costs a fortune. It's horrible and not any better anywhere else.
In 2006-2008 I suddenly fell homeless following a domestic violence situation, as an ozzy/local single uni student looking for rock bottom housing options in Sydney CBD and along the North Shore (close to work, friends and family) there were dodgy basement rooms (picture a sauna) without windows and electricity underneath mansions for $150 pw vs $160-200 pw shared rooms (2-4 mattresses on the floor) or beds along corridors in CBD apartments, often run by weird gay couples. I looked for months while sleeping in my car and motels. This was over a decade ago but people in this city are cold blooded and depraved.
I live in Australia and the current rental market has skyrocketed in price. It’s very difficult to find a 2 bedroom apartment that isn’t below $800 per wk
@beaubeau6498 This lady is pretty accurate with the rental she stated. It also makes no sense to live somewhere that entails long travel distances to work and no sense to live in suburbs one feels less safe in.
Living in Australia, is painful.... we have (According to my mother whom I live with) $6,000 a month, and my poor mum who is working three jobs and considering a fourth can barley stomach it....
It’s a bit of topic but Melbourne and it’s greater metropolitan area where property prices have skyrocketed as a city compared to the 80’s-90’s is an utter disgrace in so many ways. Go into the CBD doesn’t even feel like OZ. Back in the day people just seemed so much happier in general, kids in the streets playing, less traffic and generally a feel good vibe. Now parents are stressed out of there minds trying to keep up with the jones, traffic congestion is out of control,you barely see kids outside anymore, general demeanor of most people borders on depression and it’s become a soulless city in so many ways and woke beyond belief.
I do believe that people have a right to immigrate here, but we have taken on too many people that we just cannot accommodate. Not to mention that people can buy homes and apartments here even if they have not stepped foot into the country.
Could also mention the tax system as a reason for excessive home prices - no capital gains tax on homes and overly generous tax concessions on investment properties - won't change with many politicians having multiple properties.
Politicians having multiple properties as investment has a lot to do with the issue in my opinion - no incentive to increase supply (and reduce prices) - something similar is happening in Ireland...
Great video -- and so glad the rest of the world is noticing... bring out more such videos on your channel. For context, I’m a South African Australian American - South African + Aussie dual citizen, US PR/GC holder - of Indian origin i.e., I am an Overseas Indian Citizen (OCI) - I lived most of my life in Australia before permanently moving to the US. My wife is an Indian citizen, an Australian PR and a US PR/GC holder who lived most of her life in the income tax-free UAE. I think you should hear this from an Aussie who has seen at least some of the world - the ‘awesome’ life in Australia that many talk about is mostly an illusion. 65% of Aussies have their wealth tied up in their third rate houses and 95% of Aussies are in massive private debt - be it credit card bills, home loans, personal loans or illiquid investments. Free medical care in Australia is a myth with most people not understanding what Medicare covers and what it doesn’t. Freedom is a rare thing in Australia with the Australian Government playing dumb when Muslims took over the Sydney Opera House last December, or when Khalistani terrorists violently assaulted Aussies of Indian origin. Pakistani and Lebanese rape squads have been prevalent in Australia for decades now. State Premiers and ministers are constantly in the news for corruption and nothing is ever done. Politicians even use the police to target their enemies. Australian police in all states are heavily corrupt and next to useless in general. The cost of living and housing affordability in Australia is another horror story - for instance, I was making over Au$200,000/yr and my wife was making around Au$100,000/yr in regional NSW - we couldn’t see how we would buy a house and bring up our children in Australia. The woke agenda of the US is a problem in Australia and the UK as well - but in typical Aussie stubbornness, no Aussie will talk about it or even admit it is an issue. As another example, a good mate of mine who is a born and bred Aussie coaches senior executives + is a best selling author and his wife is a corporate coach who is also a bestselling author. Together their income is over Au$250,000-300,000/yr and yet they moved out of Sydney because it was too costly - now living in Brisbane he still borrows his mother’s 20 year old Honda Civic to take his baby girl out because it is unaffordable for him to have his own car while saving up for a family home. Crime and substance abuse are a problem - ask anyone from Richmond, a suburb of Melbourne where you’ll see junkies passed out with needles sticking out of their arms. There are entire no-go zones in Sydney and Melbourne that no Aussie would talk about lest the world find out how imperfect Oz actually is… Australia is an economic basket case where foreign students or foreigners working on H1B visas in the US rush into because they get security in the form of PRs quicker (3-5years) than they would in the USA (20+ years). The US still is a first class economy with top notch schooling for those who are PRs (GC holders) or citizens. Lots of potential PRs and existing skilled migrants are now leaving Oz, NZ and Canada. The opportunities in the US are way higher than in most other countries - I am aware first hand about the opportunities in Australia, Singapore, HK, the UK and NZ as well because I received offers from all those countries and interviewed for some roles as well. If someone is a Canadian or Australian citizen, then working remotely from a small city in India, Thailand, Indonesia, Malaysia or Nepal is much more lucrative with a _low opportunity cost_ of leaving Canada or Australia: that person’s Canadian or Aussie passport is worth more than the quality of life in both those countries - ditto for NZ as well. Not so with the US, despite all its other faults - the opportunity cost of leaving - for PRs and citizens anyway - is _much_ higher. Also overall Americans are friendlier than either Canadians or Aussies. I hope my narrative paints a clearer picture for you and your audience. Now, I have a question for you although I’ve read your apology to Canberrans - _how did_ you conclude that Sydney is the capital of Oz 🤔 just kidding …I won’t rub it in.
In 1964, University of Sydney Professor of Political Science Donald Horne wrote, "Australia, a first rate country run by second rate people..." This is still the case. 1970's Highest wages/cheapest Electricity in the world, NOW, Highest wages/most expensive Electricity in the world. Venezuela of the South Pacific (instead of being The Norway of the Southern Hemisphere) here we come. Professor Horne was SO right.
What Vice Chancellor (of Canberra University) Horne actually wrote was, “Australia is a lucky country run by half rate people who share its luck” - sadly most bloody Aussies don’t know where the phrase lucky country originated 🤣
@@devinfraserashpole4753 "Allowing" refers to the Australian government. China is a lost trust country/culture, and they have little respect for Australian laws.
I'm a single Australian who wouldn't mind owning my own one bedroom apartment. There are plenty of these available too, the problem is they are bought exclusively by property investors who can rent them at exorbitant rates and if it remains unoccupied then they can write the loss off on tax and actually make more money. It's a matter of policy change that needs to happen to open it up and create a more egalitarian system. the problem there is that federal politicians themselves are benefitting from this system and are reluctant to change it. Look up our PM's property portfolio if you are interested. It should be considered legal corruption.
@@TheReaper1557 i think its more help from the government. Probs meant to “help” landlords who can’t get tenants (maybe) but its created an exclusive market where certain properties (in this case small aprtments) are near impossible to buy because investment groups don’t care how much they spend on them knowing that if they can’t rent at market value (which they deliberately force up of course) then they will get some sort of major write off on tax.
Not entirely correct. A gorgeous one bedder just sold for $300,000 in Guildford but you would not buy it because Australians are the most arrogant toffee nosed people about suburbs and their WRONG perceived ideas about suburbs.
Government concessions for investments in housing contribute to the high cost of home ownership and rents in Australia. Unfettered migration to Australia doesn't help either. There are still many people who can afford to live in Australia. Those who own their own homes are mostly doing okay. People on very high incomes are doing fine. Politicians are comfortable with their incomes. The people who are really hurting are those on low or fixed incomes and those who are renting.. We can't fix the housing crisis until greedy investors realise that they shouldn't self-aggrandise at the expense of others in the community.
I’m happily living in an apartment complex in Melbourne (8 years) the problem is local councils knock back new builds due to complaining NIMBYS. Very selfish IMO where do these people want the growing population to live, tents?
That's because the same greedy group is buying up the real estate to use invest properties and not for living in. NIMBYs are now infiltrated by these foreign investors solely to artificially raise surrounding property values. GREED is the real problem.
@@andreaslind6338 > Seriously though, is NIMBYism in Australia also tinged with racism like it is in America? Partly, but it's not so clear as there are no exclusive gated communities here or mass relocations to segregate and avoid Blacks for example. NIMBY racism however happens en masse as policy. In Sydney, many First Nations people were relocated out of the city by the Howard Government for the Sydney Olympic Games, and elsewhere it is very serious e.g the Northern Territory Intervention and abduction of children and relocation of whole communities to get access to uranium. In the city, I'd estimate 1 in 8 people here are racist, whether they consciously act on NIMBYism probably not all though each district has certain tolerances and intolerances. e.g. Sydney CBD and surrounds is reasonably pro-Chinese and pro-Asian but anti-Indigenous and I suppose anti-Islander (I have never met an Islander living in the city). 1-2hrs North West in the Blue Mountains region there was a history of freed convict land owners and racial violence (genocide), and I hear bigoted friends mention "Arabs", "Afghans", and "Mexicans" (likely media influenced - Republicanism/Trumpism). But should an ethnic family move into such a semi-rural area it may trigger NIMBYism, usually only if neighbours feel the new resident is cramping their 'quality of life' or standing out unacceptably. 1-2hr South to the Cronulla area there's been a more recent history of race riots, with Australian flags on windows and cars. I have worked and passed through these places and never seen any First Nation people, anyone dark-skinned, obviously coloured or ethnic, wearing Middle Eastern or non-European clothing in these places.
Record immigration when there’s already a housing crisis just shown the literal disdain this government has for working class and lower income Australians.
Do you also have major media/major political parties who won't discuss reducing immigration because those who profit from it are funding their real estate advertising/election campaigns. Not only won't discuss it, but shut down any interview where someone brings it up?
@wallys7444 Yes precisely we do. Infact, some politicians will slip out how immigration is a great benefit for the universities. Which in other words means that they're Profit 4X the amount on international students over Canadian born. They have no intentions or ever express reducing immigrations. They're trying to bring in 100k Ukrainians this year.
One of our biggest problems here in Australia is that in the 90's, the liberal party decided to "boost the housing industry" by lowering the capital gains tax by half and this lead to many people that had properties to borrow against to buy up more homes and turn them into "investments" aka rentals and because they could use the negative gearing tax offset if the rent wasn't covering the mortgage, rates and bills , it just made it easier for wealthy people to end up with a "healthy portfolio" while being slum lords. The other issues we have with not being able to build new homes is that most cities (Like Adelaide) have had vacant land and lots of it but the government doesn't release it for development until it's desperately needed. This from of land scarcity is what drives up land prices as "Adelaide cannot expand as there is beach and hills" which was a lie as new suburbs are slowly being released over time but the number of houses are low. Another problem is urban infill where in most cases an old trust home or whole suburb of government trust homes get replaced with newer homes that are on a smaller lot of land, ie, two 350m2 lots where a 700m2 was but this has caused many issues from effectively doubling the number of households, one issue is that the utilities can't handle the extra loads but nor can the roads take the traffic and with most of these smaller land lots having larger houses on them it becomes a case of on street parking for most (also that we are way too car centric) so all the curbsides are cluttered with parked cars. Lastly we don't have enough builders and trades people to quickly build new homes as most old brickies and chipies have now been long retired and while many young people did seek and do apprenticeships, there isn't many companies to work for as many of them went bust during covid and the companies that have survived are barely surviving due to material costs doubling in the past 5 years. Long story short, in 2002 houses in ADL were only between $140k to $250k in inner city suburbs, Unley had places going for $450 ~ $600k (rich suburb). 20 years later and those prices have more than tripled with most inner city homes fetching $800k+
Well said. The other thing not mentioned here are interest rates, inflation and tolls. Sydney is WILDLY expensive. An electricity bill for a 3 person home is currently $800 a quarter.. milk is $6.. interest rates 7% (on average $1.1m homes) and supermarket bills are currently about $400 per week.
Not only manufacturing is economy. There are much more than that. Australia benefits from a great system that sharing wealth among most of its people better than most other countries. It still has a very peaceful and safe society. All these factors make it expensive since it attracts foreign money all the time.
@@ningsiyou A major healthcare incident and needed dentistry may require you to sell your home. Health insurance is a major expense with too few health issues covered. Pharmacy is to a greater extent not covered and is very expensive. It is not too far off the appalling state of the US health system.
Yeah right a lot more businesses are actually making things and not importing overseas cheap crap! We’ve learnt from the pandemic and will be manufacturing and exporting a lot to Asia and all over.
Basically the way I understand it is this, any 1st world English speaking country wether Canada, Ireland or Australia you will have to work like crazy to live in. So if your determined to not change your language and have safety your going to have accept these things. So basically with house prices so expensive in these countries you gonna have to just pick the spot you like the most and stay there.
Nope! That's because the same greedy group is buying up the real estate to use invest properties and not for living in so anywhere where they allow foreigners to buy up swaths of land and homes purely for speculative purposes, this will happen. Canada has now grown a pair and has blocked foreign buyers until 2028. Of course buyers from that greedy nation have screamed racism. Shocking and ironic but more arrogant than anything that they claim they are the only ones being blocked from buying when Americans and everyone else is also blocked unless they actually plan to move into the country and live there.
Not sure why people keep missing the point that you buy a house with a loan, and you have to pay interest on that loan. So basically your whole life's earnings is not enough, even if you only eat 2 minute noodles forever.
Dude I used to live in a suburb in Brisbane the one Chinese trustie owned 250 homes in that suburb. This is repeated all over the country. We need to stop overseas investment in the residential sector until we catch up.
That is outrageous. I'm not against investment properties, but to buy so many, and they're sitting there when a family can be housed seems criminal. Foreigners can't buy homes in China, so I don't know why it's unregulated the other way around.
@@chigasaki06 yes you can buy home in china. u just poor ass kid. btw buying home in china is categorised as foreign investment and eligible for Permanent Resident visa in China. But if you can not afford $1m property in Australia for 30 years loan, you won't be able to afford $3m property in China for 5 years loan.
I live in Adelaide Australia and the housing affordability is pretty bad here.....not as bad as Melbourne or Sydney but bad enough that many young people have given up hope of owning their own home. And if they did scrape enough money for a deposit for a home theyd be under mortgage stress for the next 30 years. New homed are not only a big rip off but made of poor quality. Rents are unaffordable for many....if youre luckily enough to find rental accommodation to fit your budget. Bottom line is, Australia is a rip off country. if you got money left in your pocket after pay day then they think youre getting paid too much. Cost of living outpacing wage growth. 30 years olds still living with their parents. few Australians have children because they simply cant afford them. thats why we have mass immigration from the 3rd world which is changing the demographics of the nation. Australia is the luckier country, not the lucky country. If youre rich you'll love it.
Too right, lived here in Adelaide for almost my whole life and it was once a very affordable place to buy and live but no longer. I studied for many years at Uni and TAFE to end up with terrible employment opportunities here but ended up staying due to family. I have a mate who moved here from Canada a few years ago (originally from UK) and has a high paying job... He bought what I'd consider to be just a normal house in a decent beachside area and it was 1.6 Million Dollars. His mortgage is massive. Seems everything in Australia has gotten far worse since the 'health crisis' too.
Many people from the US, Australia, NZ etc. now move to Mexico. Great weather, opportunities and lower cost of living. Check out Mexico City for starters…
We can really blame John Howard and the liberals for setting up an unequal market by cutting the capital gains tax in half and making negative gearing so easy to utilise so that anyone that had capital could become a future landlord and just get the tenants to pay the mortgage off. Now we live in a dystopian society of slum lords renting shitty housing for crazy prices because there is so much demand. Adelaide could have expanded a decade ago as there was always new land down south but that's how this market keeps going through the idea of scarcity, now everything is "Urban infill" which is creating more problems than it was trying to solve.
I emigrated to Australia in 2000 and for a while it was amazing, perfect even. Things changed. From around 2010 Victoria became increasingly hot in the Summer and finding a place to live difficult. In the end I sadly returned to the U.K due to not being able to afford a home. You could say that housing affordability ruined my own personal dream, however I am clearly not alone.
On four occasions Dom makes it abundantly clear that he is totally committed to Australia having LARGE-SCALE immigration programs. This is because the MORE featherless bipeds you draw into the country is going to propel the economy by virtue of increasing demand of goods and services. He informs us that, he is a “big proponent of economic immigration”, and how this comes to fruition by way of the population of Australia (proportionally speaking) is increasing twice the rate of the US, and 6 times higher than France each year. One aspect of this program that he singles out is with international students: who are classified as temporary migrants - the great majority of whom are hoping to utilise their time here to gain permanent residency. Apropos to this, comes to pass with gloating about the revenue that international students channel into the country to stimulate the economy. Alas, the 1.1 million international students currently in Australia are the key factor with why availability of properties to rent, and why it is that rents are exorbitant. Therefore, because these interlopers need places to live in must culminate with placing extreme pressure on the availability of properties to rent: and this is so in all of the capital cities. This irrefutably means that, collectively, because they are vying for abodes to live in equates to them being responsible with why Australians are paying excessive rents. To demonstrate just how much Australia has OVERDOSED on international students is to point out that, the US, with a population 13 times that of Australia, has just (sic) 1.4 million international students in its dominion, in comparison to its 1.1 million. This means that for the US to have a ‘comparable’ number of internationals students to that of Australia would require it to have at least 13 million. Aside from these interlopers dispossessing Australians from having abodes to live in and, indeed, why rents are between 20-25 more than what they should be, another dire consequence of MASSIVELY OVERDOSING on ISs prevails with them being between 65 percent to 48 percent of 11 of the top 14 universities in Australia. But, of the 1.1 million in Australia, less than 200,000 undertake courses that can be construed as being worthwhile: such as medicine, engineering, architecture and IT. Amongst the remaining 900,000 is taken up with studying business and accountancy (400,000). Also, there are also in excess of 150,000 people in Australia on a student visa enrolled in vocational education and training courses: these courses include mundane spheres such as cooking, and hospitality. As for the rest, there are well over 100,000 foreigners - significantly from the PRC - studying English. And there are also at least 60,000 people in the country enrolled in primary and secondary levels of study. Clearly, the treacherous cohort of politicians - who are acting at the DEDICATED behest of educational institutions, big business concerns, and property developers - are fully prepared to sell their own people out: in order to propel economic growth. Unfortunately, what these low-life cretins don’t care one iota about is the horrible sociological cataclysm that will come to pass in 10-15 years when these re-colonists with no allegiance to Australia will subjugate the host country and people.
I live in a caravan on the street in an industrial area of Melbourne. 1 minute to work. I spend 25 a week on diesel . I am happy. I can move where the jobs are
I do hope your warm and comfortable in the caravan mate. I've done it myself. Although I wasn't set up very well. I have no hope of ever owning a house. I have no hope for a bright future. Times sure are tough. Stay well.
it is illegal in Australia to live permanently on the boat or in caravan, even on your own land. Australia is red taped from every corner to make sure the property ponzi scheme goes on
You never own your home outright, you are ownly the title holder of the land not the owner! You still pay annual council rates, land tax , stamp duty and gst. The system is a broken rort!
I traded well on my Demo account but when I invested in to my main account i lost all my funds. Please i need an expert to assist me with my trading. It's frustrating how people loss funds in this trading, I really feel so bad.
That's true,. Its really needful for beginners not to settle for videos alone or they will see themselves losing all their money just like me when I newly started trading with this videos here on RU-vid.
May I remind you of the fact that here in Singapore, a tiny island with 6 million souls lives like sardines in a can, where else in nearby vast bountiful Australia in Asia-Pacific which is ten thousand times 10,000 bigger with a mere 27 million inhabitants.. A similar situation in tiny and packed Japan, which is running out of space and land. Do you know that their living room and bedroom are the same place, and that most Japanese people sleep in their living room?
@@knowledgeispower8625 Slavery, Colonialism and Colonization are all evil things done and benefited by evildoers. Europe for Native Europeans, Africa for Native Africans, America for Native Americans, Asia-Pacific for Native Asians-Pacific islanders. By the way, many thanks for the insightful informative multi-page comment by 'Lonely Alaskan' at, "Complete History Of Indigenous America Before Colonialism", on RU-vid.
@@truthmatters5170 "Complete History Of Indigenous America Before Colonialism": ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-z9SMN59vsGY.htmlsi=QZ4aX9jmUdrbRoYL
"We're still here ... We are not going anywhere." - Native Americans 😔 As a Native American myself I felt heartbroken to my ancestors when I saw this. As I learn more of people's past I understand their pain everyday. The two most sacred Christian doctrines are, - Thou shalt not kill, - Thou shalt not steal 😔 Also a great many thanks for that supremely informative multi-page comment by Lonely Alaskan at, "Complete History Of Indigenous America Before Colonialism", on RU-vid.
@@hellyeah7403 We feel your pain, your emotions and your silent message to the world. You are not forgotten and will never be forgotten. 🙏🤷 The land is the most valuable thing because there's no more land left in the world. Man's greatest enemy is himself. Greed is an animal. Greed is a major driving force behind Genocide, Slavery, Colonialism and Colonization which are all evil things done and benefited by evildoers.. Greed is behind everything that is bad. Those with no remorse or empathy for others who are greedy are the most cunning. They leave trails of debris, through Genocide, Slavery, Colonialism, Colonization, Imperialism., no matter where they go.. Whenever they left, they left it in strategic violence and tension.. It's such an evil world we live in. 😔
Australia prioritises immigrants over citizens. I will be leaving at this rate. On 200k a year and cannot afford a home there is something seriously wrong.
@user-gs3tq6bx2u oh ok so you think it is acceptable to buy just any home even though its out in the sticks extremely far from work? Buy an apartment and lump on ever increasing strata fees along with major building defects? You know I used to build homes for a living and I would not buy any house and land package. This shows you have no idea of true value. I also only just started earning 200k in the last financial year. But that attitude of yours is the whole problem with the housing market, just buy anything for the sake of buying, regardless of whether it stacks up or not. Add on ever increasing rent with having to accept it along with ever increasing bills. Throw away money?? I always keep my mobiles until they are dead in the water and buy them outright, and my shitty service charge went from $25 a month to $55 and you think I am throwing money away? Go look at my tax bill. You think 200k is alot do you? I would probably be better off earning less...
I live in a small country town in South East Queensland, Australia and it is almost impossible to buy a home unless your a millionaire. And here they even want you to pay a dead minimum rent price of $380 rent a week for some small ran-down dump with no garage place for your car. Even for rent for a decent family home per week is still starting to overtake the weekly income here and that's not even including the costs of food or vehicle running costs. Also Sydney is just the capital city of the state of News South Wales. Canberra is the of Australia.
What I think is funny is that there are towns in Queensland that have car thefts, burglaries, and assaults regularly from the "you know who" people. Yet property owners expect you to pay half a million dollars for the privilege of getting robbed. Dude, if that doesn't cause prices to go down nothing will.
Living in Australia I have two openings about this video. 1: International students are good but they make up most of the high paying high intelligence jobs leaving none for Australia's meaning most born Australias are left for bricklaying. 2: the house market is no longer just a necessity but something businessmen use to wen profits almost like an investment.
Cant afford to live in Australia is extreme, but if it stops ppl coming I support. The issue is that population growth from immigration has grown too quickly. 500,000 per year is the problem, 75,000 per year is sustainable. Chinese buyers, have pushed prices beyond local wages, and local parents are funding their kids to compete....
I’m 25 and can’t afford to live in a rural area with a full time job that was damn near life threatening I would need 2 roomates for a 1 bedroom place and even then i couldn’t afford food or my medication
I am going to die homeless because of this shithole of a country I could literally be homeless in anolafe like denmark and still be far better off than the average Australian
Oh you have no idea.. there's rich people buying up blocks of land and putting pop up or as you'd call them trailer park houses on tiny plots and selling the house to boomers with monthly land leases, and when they pass on, the house and land is given back to the rich land owners to be sold onto the next person. I want to leave Aus as I can't afford a house here anymore it's just depressing.
Unfortunately you may find it hard to find anywhere else NZ is the same golden visas massive immigration high rents and house prices to make you a slave till death.
Where are you from??? My husband came to Australia in April 2011 with 700 US$. Today he owned an apartment 20 minutes from CBD with half mortgage paid off. Owned 5 acres of land near Mudgee, owned an apartment in his birth country bought in 2022. Drive a luxury BMW car and go overseas every year. All from hard work mate. He was no university degree or specialised skills, just hard work, mate. So don't trash my city, my country. You are talking shit!!!!! LoL😂😂😂
Yea what’s his debt to equity position he obviously did not pay cash for everything, many people think if someone owns a house it’s theirs it’s not if you have a mortgage on it even if it is $1
Not only that, the government does not want to invest in infrastructures, therefore building housing in new areas is very slow and difficult as roads, sewage, water, public transport and electricity takes decades to setup where new houses can be built. Not only that they chatge ridiculous fees just to be given permission to build a house.
The Housing market was ruined in '07, when Rudd allowed overseas interests to buy Australian homes. When Coles and Woolworths spent their government funding on land, during CovAIDS, the houses became unaffordable. A corporate government ruined Australia's housing
This. The only reason we have this problem is because in '24 almost every home in Sydney and Melbourne is owned by folks that have never even BEEN to this country. Trust me, I know the market well if people knew how many homes in their suburbs are owned outright by foreign interests they'd shit. Also, your power networks are also owned by foreign entities.
Doesn't help that no one talks about Lands and Titles being privatized, either. The Caymans can tell you how much electricity money goes offshore from Victoria. @@mordie31
You are incorrect Michelle. British prisoners were indeed sent to America. Australia only became a penal colony after the US War of Independence- the British had to find a new location and chose Sydney.
The older generation Australians who want to maintain the dream of home ownership will increasingly move to the country, especially as they retire. The immigrants who are more likely to adapt to high density housing will create enough demand to rezone suburban areas into high density. Ultimately it's less about the cities and more about the beach. There's beautiful and affordable places in the Australian interior, but they're all long drive to the beach.
I highly doubt that older Australians want to move country !! closer to services and not further away 😂 totally Incorrect . They will go coastal if anything or large towns with health services
@@user-ReachingForTheStarsWell, the whole point of the article was about lack of home affordability and large towns on the coast are still going to be expensive. I have older (middle aged) relatives who did exactly as I wrote, left an expensive rental in Sydney and moved to small town NSW (Armidale)and a brand new house. They absolutely love it. Have a huge garden. But hey, if you can afford a house in Sydney or the Gold Coast or whatever, that's great. This video was about those who can't.
@@milopbootheArmidale is actually nice. Not everyone can move to Armidale. I will be forced out of Sydney in my old age but your parents missed the boat-lots of CUBs in double bay who bought 20 years ago-your parents sound risk averse, like my mum. In reality Sydney needed more confident CUBs buying property. It’s all old money now.
I heard on the radio the other day that the Average person earns approx 60,000 per year, and for someone to confortably live in aus they will need to earn atleast 150,000 a year... Really opened my eyes when i heard that on Nova...
I'm managing at the moment, but won't be for long if it keeps getting worse. I'm not on a very high amount, about $28 an hour and only work 37.5 hours a week. My brother and I bought a house about 4 and a half years ago before it got really out of hand, lucky we did because if we had to do that now, we'd be screwed.
One of the major problems that people have is that they want to be able to afford to buy in prime locations, such as Melbourne, Sydney, Brisbane, etc. If you really want to buy a house/property, maybe you need to face the reality that you need to look elsewhere. Somewhere that’s within your budget. I’m single and earn just on six figures. I wanted to live in Brisbane but I knew it was out of my budget so I looked elsewhere. I found a place which cost me only 3x my annual salary and is around 120km from Brisbane. Also, the job I have actually pays more than I would be able to demand if I was living in Brisbane too because employers need to attract workers to come and work in rural areas. I’m not trying to dismiss that the cost of living is just crazy at the moment, but people also need to adjust their expectations. You might have Champaign taste but you may only have a beer budget.
I agree with you for the most part. Aussies are to blame because they can't think outside the 2 party monopoly. When were Australians asked if they wanted to double the population (which is where this is going) Then they go to the polls and do it all over again. Beer is the new champagne in Australia "Just adjust" is not really helpful even though I know your advice is good, most can't do it and I can assure you that out in the rural area's it is pretty bad as well. Houses have doubled where I am in the last 5 years. (3 hours from Melbourne) Unless you have a skill that is really needed you won't find much escape out here or many houses for sale.
Because you have to work in an office in Australia, you are tethered to a major city to earn a wage. Otherwise the property market would collapse overnight, as people moved to country areas or overseas.
You forgot to mention the key reason why housing is in such low AVAILABLE supply & why it is so expensive.. The key is AVAILABLE.. That is, there is plenty of construction & has been for a long time. Melbourne should have had a massive OVERSUPPLY of particularly apartments, but also housing, given how much has been built, even accounting for both international & inter-regional & interstate immigration. But the key here is on AVAILABLE.. That is, most of the new housing is for investment purposes, be it for Negative Gearing tax concessions, or to flip at a later date, a store of wealth, or for short term rentals aka Air BNB. If a dwelling is built for investment purposes theres a high chance it is empty, or kept out of the long term sale or rental market. This can be seen particularly in Docklands, a suburb of the inner city CBD, where 90% of all the apartment skyscrapers are empty 90% of the time, & is repeated in many or most of the huge no of apartment skyscrapers in the CBD, in the areas surrounding the CBD, & throughout the entire metropolitan region, even as far out as 30km from the CBD where apartment highrises have been built, ostensibly to increase the supply of housing, but in reality to increase the supply of housing investment. Houses in Australia are like stocks or crypto first, & prioritised as dwellings to be lived in second.. Melbourne alone built somewhere in the vicinity of 20,000 new apartments in a 10 year period, but yet there is a huge undersupply of housing? There should be such an oversupply that the bottom should have fallen from the apartment market. And many feared it was going to in 2018, when there was 350 tower cranes operating at once across the metropolitan region, more alone than in the entire US, 80% of which were building apartments, from 20m high to 320m high buildings. But yet apartments have not stopped being built. The issue is also what type of apartments are being built, 90% of them arent suited to families, lots of them arent even suited to groups of flatmates. Most of them are suited to Air BNB, storing wealth, or as tax reduction vehicles. Most of them, even the ones that look really nice, are of massively poor quality too, due to the speculative investment nature meaning low margins after high prices for the sections for them to be built on, & many corners cut to maintain developer & investor profits.. All of the same applies to many of the 10s of thousands of houses & units in the outer suburbian periphery as well, with entirely new suburbs consisting of investment properties kept out of the long term market. Reduce the incentives to keep housing empty, such as by an empty housing tax where apropriate, & the housing undersupply will become an actual oversupply over night. Late speculative investors or overleaveraged investors might get burnt, but this will fix the manifactured housing crisis. without such measures you could build millions of new homes & the problem will persist until there is such an oversupply that the entire housing market collapses under the weight of all the leaverage wasted to maintain the investment gains of a small minority. Of whom virtually all politicians & all their financial backers are in this minority, & there in lies the problem..
Funny that Henry George came up with a clear cut solution to this shit 120+ years ago. Also funny that he suspiciously died 🤔. The solution is converting all property-based taxes to a land value tax calculated from the value of the land itself. Land banking or inefficient land use will be costly, raising rent is decidedly increasing property value and therefore taxes on the landlord.
That's because the same greedy group that was buying up the real estate to use invest properties and not for living has been caught in their ponzi corruption schemes and that country is in a financial collapse right now. Their second large property developer is in bankruptcy liquidation court proceedings.
To make matters worse in Sydney, Some people have resorted to buying a mobile home/rv or caravan, to get out of the housing crisis. But there's a law preventing anyone from "freecamping." Unless you have a paid site, or find a freecamp site ( which isnt easy, they are usually located quite far from any town or city) it is illegal to park and stay in your van overnight. If caught, you will be asked to move and could or will be prosecuted.
@@elja7659I know this comment is old but this is beyond sad. I’m stateside in Florida and people are renting the RV in their backyard for at least 1,000 in a hurricane prone area. At least the mobile homes are strapped in up to category 3 hurricanes.sharing a room with a stranger is insanely unsafe. Even the same gender isn’t safe. Maybe if it was a close friend I would consider it if we had to.
As an Aussie working in social housing i think you spoke quite well on the topic. Something touched on lightly is that aussies live on the coast, to elaborate, country towns are behind in infrastructure and overall quality of life, so we all flock towards the metropolitan oceanside for modern quality lifestyles, this also bumps up the prices. You can quite comfortably buy property in rural areas for cheap prices, people just dont want to, and i dont blame them.
@tomm7868 if you are talking big country towns some are expensive, eg. Bendigo, Castlemaine. But there are dozens of smaller country towns that are very affordable. Eg Traralgon VIC median house price for a 3-bedroom is 435k
@@StalesGaming Not paying close to half a million dollars to live out in the sticks with nothing but a pub and a bakery for entertainment. Country people wear thin real fast.
Hobart is becoming unaffordable I saw an international student advertise a single bed in his bedroom for $125 per week. SHARED ROOM! This wasn’t even in the city, why live somewhere rural when a bigger city is the same price with better public transport and jobs
This nation is going all the way down. I'm being forced to move due to all of this. I grew up in New Zealand then moved to Australia. Been living here for 16 years. It's crazy expensive. They made houses impossible to afford. They fine commuters like crazy. They're making it very difficult for people to live here. It's all an agenda, joining forces with the US will only bring their downfall.
On four occasions Dom makes it abundantly clear that he is totally committed to Australia having LARGE-SCALE immigration programs. This is because the MORE featherless bipeds you draw into the country is going to propel the economy by virtue of increasing demand of goods and services. He informs us that, he is a “big proponent of economic immigration”, and how this comes to fruition by way of the population of Australia (proportionally speaking) is increasing twice the rate of the US, and 6 times higher than France each year. One aspect of this program that he singles out is with international students: who are classified as temporary migrants - the great majority of whom are hoping to utilise their time here to gain permanent residency. Apropos to this, comes to pass with gloating about the revenue that international students channel into the country to stimulate the economy. Alas, the 1.1 million international students currently in Australia are the key factor with why availability of properties to rent, and why it is that rents are exorbitant. Therefore, because these interlopers need places to live in must culminate with placing extreme pressure on the availability of properties to rent: and this is so in all of the capital cities. This irrefutably means that, collectively, because they are vying for abodes to live in equates to them being responsible with why Australians are paying excessive rents. To demonstrate just how much Australia has OVERDOSED on international students is to point out that, the US, with a population 13 times that of Australia, has just (sic) 1.4 million international students in its dominion, in comparison to its 1.1 million. This means that for the US to have a ‘comparable’ number of internationals students to that of Australia would require it to have at least 13 million. Aside from these interlopers dispossessing Australians from having abodes to live in and, indeed, why rents are between 20-25 more than what they should be, another dire consequence of MASSIVELY OVERDOSING on ISs prevails with them being between 65 percent to 48 percent of 11 of the top 14 universities in Australia. But, of the 1.1 million in Australia, less than 200,000 undertake courses that can be construed as being worthwhile: such as medicine, engineering, architecture and IT. Amongst the remaining 900,000 is taken up with studying business and accountancy (400,000). Also, there are also in excess of 150,000 people in Australia on a student visa enrolled in vocational education and training courses: these courses include mundane spheres such as cooking, and hospitality. As for the rest, there are well over 100,000 foreigners - significantly from the PRC - studying English. And there are also at least 60,000 people in the country enrolled in primary and secondary levels of study. Clearly, the treacherous cohort of politicians - who are acting at the DEDICATED behest of educational institutions, big business concerns, and property developers - are fully prepared to sell their own people out: in order to propel economic growth. Unfortunately, what these low-life cretins don’t care one iota about is the horrible sociological cataclysm that will come to pass in 10-15 years when these re-colonists with no allegiance to Australia will subjugate the host country and people.
We are addicted to living in cities while rural areas are holiday destinations. There is a mindset that living in the country isn't affordable unless you're a farmer or something similar ... Or that it's too boring & not enough services. But it's a city addict's delusion. I have grown up in Perth which has been on growth hormones since the end of WW2. And from what I see, people who migrate here come for 'the Australian dream' too ... Meanwhile, our wildlife and native bushlands are greatly suffering with the endless urban sprawl. So do what I did... Move to a regional town where it's more affordable and there IS plenty of work. Life is what you make it & people are people wherever you go, so that's BS too the us & them thing 🙄
I just did an inflation calculation for Australia. (the RBA has an inflation calculator on its site) AUD 4,200 in 1970 would be worth AUD 58,000 in 2023. Average annual inflation of 5.1%. Based on that logic, average house prices should now be AUD 260,000. I can understand why the youngies nowadays are pissed.
in 1970 those houses were 2 bedders made of fibro. most of west Sydney didnt even have town sewage. There was no infrastructure like there is today. No internet. Badly connected to Australia and the world. Todays house and 1970's house is not the same.
@@sal78sal I disagree to some extent. The inner west of Sydney (eg Newton) definitely has significantly seen price rises since the late 80's. Something to do with the YUPPIES. Remember them? And the terrace houses there are tiny. Similarly, the townhouses of suburbs like Paddington, Surrey Hills and Darlinghurst.
@@RUHappyATMNo YUPPIES... it was high immigration numbers that lead to the increase in, inner city house prices most Aussie's were moving to the outer suburbs back then, to get away from the rampant drug problems back then.
Australia housing is overpriced and way under debt. The bubble is brewing, and most people assume the highest price sold for a property applies to all properties in the area. It's this thinking plus real estate agents encouraging such thoughts that drive the prices. Supply and demand, fair enough, but the psychology of people has been so engrained with the highest price thinking it's quite psychologically sick. Australia, the bubble is here.
They should measure the amount of investment properties that are also deliberately left empty, which also adds to the problem and is a symptom of getting better return on the housing market vs the equity and bonds market.
There are SO MANY luxury homes along the Gymea Bay area EMPTY..and if the Cnts don't get their 2k pw rent then they don't want tonrent it out! It's fking messed up! I bet Obama owns a few and Scomo n Albo too
The benefits of record high immigration are FAR outweighed by the strain it places on the existing housing crisis. Simple solution is to cut it way back until pressure eases, and then slowly reintroduce. The problem is the people high immigration does benefit are the ones making the decisions.
Although that is common sense, it wouldnt improve our cost of living crisis by much. Because the problem didnt originate with immigration. The problem stems from systematic greed and an unwillingness to regulate the system in a fair way to the average Australian. Example - just look at what Woolie and Coles have been allowed to get away with for so long. (Price gouging the Australian public, ripping off farmers, illegally stifling fair competition)...all done under our politician's watch ... Big corporate are in control, not politicians.
@@eurekaelephant2714 No stop trying to defend immigration. Denmark, The Netherland and now England have come out with studies of people who contribute and their nation of origin. There is no point bringing in anyone who isn't white becasue them and their children do not once contribute they're dependents. Same with Eastern Europeans. Only immigrants from Western Europe, American and Japan actually put in more than they take out.
Australian population keeps going up and up and up and up, eventually reaching 200 to 300 million and will still go up. Melbourne has grown so much since I came here. So much traffics on the roads that did not exist even 10 years ago.
I used to live on the Gold Coast, beautiful place but my rent was $500 per week. I was lucky enough to buy an old house in a small town, so things are much better for me now. I feel sorry for young families who are stuck in the rent spiral.
I lived on the Goldcoast 7 years ago paying $ 380 for a 2 bedroom 2 bathroom Townhouse in Mermaid Waters was cheap as chips and my salary was pretty good but now it's very very tough as the rent is up towards $700 a week !
That’s not luck, you made a decision. People have to come to terms that you can’t just live where you want. You can only live where you can afford. It sucks, however that’s the reality we’re all facing.
Well, as a immigrant myself I think I can safely say that entire economy depending on immigration is not really a health thing to do, and will eventually be the ultimate downfall to a nation even if it might look like it’s working rn.
Australia should regulate ABNB short term holiday let. There should be no negative gearing for short term holiday let. There are 6 times more short term rentals than long term rentals. Immigration is insane @ 510000 people came here last year. There are 640000 international students here currently and all eligible to buy property here when in receipt of a visa.. The tax system benefits the elderly and penalises the young. Young people who are now the biggest voting block should pressure these incompetent politicians. Housing unaffordability has been caused by the politicians. It makes me so angry. I am 69 and advocate for our young people.
Foreign ownership of our residential properties needs to stop! Increase home construction by building pre fab quality housing...Germany does it ask for their advice...We are too dumb to work it out.
Every state has a carrying capacity so it is not ok..to ramp up the numbers coming here. Our young are being sold down the river..a disgrace...similar situation in Canada The UK. Due to turbo charged immigration.
Money laundering not addressed...you could not make this stuff up Oh Yes and the inferior construction/shoe box size apartments...Mental health contributors...We are in the 21st century and should have excellent design construction....Flammable cladding another big mistake!
tax more if buy when buy property 3 or above, cut chinese investor visa which already which already excercised last week regulate the realestate market by government
The problem is there are many apartment buildings that are empty and more being built - the issue is there have been known cases of buildings falling and being built very poorly - so no one wants to buy and/or risk living in one.
Traditional symbols of success are changing especially amongst young people, personally speaking owning a home isn’t a huge factor for me success for me is time freedom and location freedom, having the ability to move and work anywhere optionally, we have already seen this massive loads of new digital nomads
I fully agree with you man, but as you age that stuff can become brutal. Your body just isn't made for it. Hope you have a plan B for when that time comes. :) All the best. @@maximillianharrison
When places offer only one type of one choice regards their culture its easy to understand that most of what the music and other lifestyles that used to enjoy their social experiences and shared a sense of inclusion without expressing their desire to make lots of millions all the time but like myself for instance need not much more than i ever did all my life such as the basics eg food shelter clothing and medicine its easy to understand if it is not possible to afford to live in these cities i know what they mean they are all turning into ghost towns due to cancel culture and the measuring of ones personal success just by the size of their bank accoung. Its easy to understand that when places only function with this type of attitude its not worth living there because its thinking is too boring and the social structure would not make me choose to live in an over priced city.R&R
Let me stop you right there. There are still affordable houses in the suburbs. Who wants to live in any city anywhere in the world ? Not me. Once they started charging to park your car in the city that is when you say enough. No Thanks. I have lived in the suburbs most of my life. I did go to the city about 20 years ago. I do not expect to ever "need' to go back there again. So you can still buy a house in the suburbs, maybe not the "best" suburbs but it will be your house and a fine place to raise your family".
It's not that everyone wants to live in the few main cities... It's that if you want a job, you don't have a choice.. Out side of those few major cities, there's not really a lot of jobs on offer, or public transport, or infrastructure at all. Outside of those few cities, there's been hardly any investment by governments.
I’ve lived in Sydney most of my life and now in QLD. The thing is, people who don’t/ haven’t focused on their money and savings are now struggling. I don’t know anyone who is homeless, my friends take advantage of free education to get a good career, then pay the government back. BUT people who don’t save and expand their career struggle. That’s never really changed and now it’s just on the news imo
I want to correct that the size of Melbourne's Urban area is NOT 10000 km2 since the Australian Census strangely counts nearby rural areas and national parks as part of the city (aka Greater Capital City Statistical Areas (GCCSAs) ). The true size of Melbounre's urban area is actually 2400 km2.
The point is the same. Melbourne still has barely half the residents in 7 times the space. All of the area shown in the graphic is built-up with houses.
Are you sure your not equating the "City of Melbourne" as the city of Melbourne? That is, there is the council administrative area of the "City of Melbourne" , a collection of inner city suburbs, & there is the city of "Melbourne" a vast metropolitan area of inner, middle, & outer suburbs, made up of many "city" council administrative regions, such as the "City of Moreland", the "City of Darebin" , the "City of Port Philip", the "City of Melbourne" etc .. In the graphic used in the video for the metropolitan area of Melbourne, all of that is urban & contiguous, so would very much count as City of "Melbourne", vs the much smaller "City of Melbourne" council administrative area, made up of the CBD & immediate suburbs. Or maybe the "true size" you state is just wildly outdated as "Melbourne" grew by a million people in 10 years before 2018 & has grown considerably since. Many of the previous gaps between suburbs have been filled, new suburbs built, council administrative areas added, & infill density development unleashed.. Just like many population statistics often take 10 years to use new census data in their calculations, so it is with many stats of urban areas globally, where the data used is woefully out of date.. I guarantee you that the "true size" of "Melbourne's" supposed area being 2400 km2 fits into one or more of these errors..
Using Google Maps, the area of greater Melbourne is approximately 2,500 kn2. 10,000 km2 is 100k by 100k - Craigieburn to Caoe Schank and Geelong to Pakenham, including the whole of Port Philip.
@@schroedernz Ok well i see your point.. But that infographic map of Greater Melbourne, which should really also include Geelong, given how it's very nearly joint up, but doesn't. That map of the entire urban area of Greater Melbourne, is all urban. You can drive all the way from Sunbury on the north periphery, to Rosebud on the tip of the Mornington Peninsula, & not leave roads with traffic lights or roundabouts, ie a contiguous urban area.. So the map of London over Greater Melbourne, that still stands.. Maybe the 10,000 sq km figure also includes Port Phillip bay, which would be wildly inaccurate. But that Urban map of Greater Melbourne in the infographic & it's comparison to London still stands..
The bit about immigration is wrong. Australia is importing anyone with a pulse to prop the housing market up. Due to inflation internationally, the RBA has had to raise aggressively into one of the highest private debt to GDP/ housing bubbles in the world. To avoid a crash, they've pushed immigration well beyond historical records (I think 2 to 3x). This has pushed rent through the roof which compensates investors. This has also saved the housing market and prices from collapsing so far. The thing about having such high debt levels is that everyone is tapped out. They can't borrow more.. so having migrants come in and borrow also helps keep the debt bubble afloat. In terms of skilled migrants, that's BS. Young Australian's in low income jobs are actually pushed out of work, as it's cheaper for businesses to hire migrants due to government incentives. This happens a lot in Aged Care, for example. It keeps wages low too.. So younger generations are not only priced out of housing, but their savings are being destroyed by rent and inflation and their wages are continuing to be suppressed. This creates a massive gap between boomers and Millennials/genZ, where younger people absolutely resent older generations for basically being born at the right time to be able to sit on houses as they appreciate massively in value due to gov juicing, all at the expense of future generations which is now. As young people can't afford housing, they're choosing not to have families, get married etc. This housing Ponzi has destroyed Australian culture and as a young person, I frankly can't wait for the whole market to collapse in flames and bring the whole countries economy down with it
immigration levels should be decided and controlled by individual state Governments and based fairly on available infrastructure - the federal Government just opens the flood gates and is totally incompetent. If Canberra wants more migrants, then they should house them all in Canberra.
The government importing so many economic migrants during a cost of living crisis will create a permanent underclass of resentful people who cannot build any wealth and won’t fight for better living conditions as they have never experienced that here. That’s the scariest thing to me.
On four occasions Dom makes it abundantly clear that he is totally committed to Australia having LARGE-SCALE immigration programs. This is because the MORE featherless bipeds you draw into the country is going to propel the economy by virtue of increasing demand of goods and services. He informs us that, he is a “big proponent of economic immigration”, and how this comes to fruition by way of the population of Australia (proportionally speaking) is increasing twice the rate of the US, and 6 times higher than France each year. One aspect of this program that he singles out is with international students: who are classified as temporary migrants - the great majority of whom are hoping to utilise their time here to gain permanent residency. Apropos to this, comes to pass with gloating about the revenue that international students channel into the country to stimulate the economy. Alas, the 1.1 million international students currently in Australia are the key factor with why availability of properties to rent, and why it is that rents are exorbitant. Therefore, because these interlopers need places to live in must culminate with placing extreme pressure on the availability of properties to rent: and this is so in all of the capital cities. This irrefutably means that, collectively, because they are vying for abodes to live in equates to them being responsible with why Australians are paying excessive rents. To demonstrate just how much Australia has OVERDOSED on international students is to point out that, the US, with a population 13 times that of Australia, has just (sic) 1.4 million international students in its dominion, in comparison to its 1.1 million. This means that for the US to have a ‘comparable’ number of internationals students to that of Australia would require it to have at least 13 million. Aside from these interlopers dispossessing Australians from having abodes to live in and, indeed, why rents are between 20-25 more than what they should be, another dire consequence of MASSIVELY OVERDOSING on ISs prevails with them being between 65 percent to 48 percent of 11 of the top 14 universities in Australia. But, of the 1.1 million in Australia, less than 200,000 undertake courses that can be construed as being worthwhile: such as medicine, engineering, architecture and IT. Amongst the remaining 900,000 is taken up with studying business and accountancy (400,000). Also, there are also in excess of 150,000 people in Australia on a student visa enrolled in vocational education and training courses: these courses include mundane spheres such as cooking, and hospitality. As for the rest, there are well over 100,000 foreigners - significantly from the PRC - studying English. And there are also at least 60,000 people in the country enrolled in primary and secondary levels of study. Clearly, the treacherous cohort of politicians - who are acting at the DEDICATED behest of educational institutions, big business concerns, and property developers - are fully prepared to sell their own people out: in order to propel economic growth. Unfortunately, what these low-life cretins don’t care one iota about is the horrible sociological cataclysm that will come to pass in 10-15 years when these re-colonists with no allegiance to Australia will subjugate the host country and people.
