The future of Australian property prices

[Mrmagoo]

lol if you couldn't borrow a mill at 2% and if the govt didnt throw money at it there would be no boom, lets not kid ourselves.

 

[Humid]

I’m not so sure about that. The ALP has has several opportunities to change some of the fundamentals of the housing market to address the issues they continually point the finger. But guess what, the ALP has changed nothing despite having had the opportunity to do so. They’re full of hot air and deep down I think they know that interfering in the housing market is likely to have far reaching implications to the broader economy. What the ALP say and what the ALP do are two very different things

Its 2021 run me through the Labor parties several opportunities to change the fundamentals

 

[over9k]

that response coming from you is no surprise.

I've tried pointing out the saturation of investment property ownership among politicians several times now. I'll point to it yet again, and yet again, ask if you think that this might have some kind of effect on government policies and the intentions of government policies?


Honestly, if you genuinely think that the establishment of the liberal party stands for literally anything other than lining their own pockets/the pockets of their donors, then you're as dumb as a brick. I'm a liberal party member and I'm flatly telling you it because I've seen/listened to the conversations that go on at party meetings etc, so if you don't believe it now, there's really nothing else I can say to you.


And in case you haven't noticed, aside from a very brief interlude with the rudd-gillard bull****, the liberals have been in power for 25 years now.

 

[Mrmagoo]

If every election the govt put billions into STEM then STEM would pay a fortune too, it is all a planned economy like under communism.

 

[over9k]

lol if you couldn't borrow a mill at 2% and if the govt didnt throw money at it there would be no boom, lets not kid ourselves.

Exactly. Interest rates dictate P/E. That's literally what they do.

But prices and affordability are not the same thing.

Its 2021 run me through the Labor parties several opportunities to change the fundamentals

Not sure if this was sarcasm but labor's policies won't do a damn thing to improve housing whilst the immigration floodgates remain open. Hell, rudd upped the level to even higher than the libs were running it.

 

[Smurf1976]

Strange times ATM in my opinion

Comparing now with the 1980's or 90's a lot of things make no sense at all.

1. Governments, individuals and even business spend money as though it were unlimited and just fell from the sky. Pretty much everyone lives like a king.

Despite the above there's apparently no money to spend on health care, the environment, wages or paying decent interest on deposits.

2. Perfectly good appliances, furniture, cars and even houses are scrapped for no particular reason.

Despite the above many can't afford a house to live in and there's a constant stream of professed concern for the natural environment and use of resources.

3. Pretty much every large business extolls the virtues of their employment policies and in particular that they embrace diversity.

Despite the above the standard HR approach to hiring is to only hire people much the same as those who already work there. Monocultures and conformity, not diversity, are all but forced in practice.

And so on. There's an awful lot of contradictions in society these days, situations where there's too much but at the same time not enough or where something's actively promoted but you'd be marched out of the building if you did it. And so on, there's a lot of stuff like that in the modern world.

My explanation is that it all comes down to not having had a proper recession for 30 years now. All sorts of economic and societal imbalances have built up and grown to extremes. Without anything to cull the weeds, they've built up to the point of stifling growth of the flowers to such an extent that those of a younger age don't recognise the weeds as what they are.

The only real solution that comes to mind is an actual, proper recession that clears out the dead wood. In the absence of that, it'll need some other major trigger to bring change both to the economic extremes such as house prices and to the strange way of thinking which seems to be present today.

 

[MovingAverage]

Its 2021 run me through the Labor parties several opportunities to change the fundamentals

You have a seriously short memory—do I need to remind you of the dreadful Dudd, Gillard, Dudd Fed government era. Do you want me to go through some of the recent state government ALP opportunities?

 

[Humid]

I've tried pointing out the saturation of investment property ownership among politicians several times now. I'll point to it yet again, and yet again, ask if you think that this might have some kind of effect on government policies and the intentions of government policies?


Honestly, if you genuinely think that the establishment of the liberal party stands for literally anything other than lining their own pockets/the pockets of their donors, then you're as dumb as a brick. I'm a liberal party member and I'm flatly telling you it because I've seen/listened to the conversations that go on at party meetings etc, so if you don't believe it now, there's really nothing else I can say to you.


And in case you haven't noticed, aside from a very brief interlude with the rudd-gillard bull****, the liberals have been in power for 25 years now.

This should be repeated daily they dont even disguise it anymore

 

[MovingAverage]

I've tried pointing out the saturation of investment property ownership among politicians several times now. I'll point to it yet again, and yet again, ask if you think that this might have some kind of effect on government policies and the intentions of government policies?


Honestly, if you genuinely think that the establishment of the liberal party stands for literally anything other than lining their own pockets/the pockets of their donors, then you're as dumb as a brick. I'm a liberal party member and I'm flatly telling you it because I've seen/listened to the conversations that go on at party meetings etc, so if you don't believe it now, there's really nothing else I can say to you.


And in case you haven't noticed, aside from a very brief interlude with the rudd-gillard bull****, the liberals have been in power for 25 years now.

Your position of playing the victim and blaming older generations for your problems is pretty evident

 

[Humid]

You have a seriously short memory—do I need to remind you of the dreadful Dudd, Gillard, Dudd Fed government era. Do you want me to go through some of the recent state government ALP opportunities?

Im ready

 

[Humid]

Im ready

Compare them to the state Liberal ones like NSW

 

[MovingAverage]

Im ready

Your silence on my comment re Dudd-Gillard-Dudd’s failure to address affordable housing is deafening

 

[MovingAverage]

Compare them to the state Liberal ones like NSW

Deflecting again are you...how is the cost of housing going in Melbourne. Remind me again who that state government is?

 

[Humid]

You have a seriously short memory—do I need to remind you of the dreadful Dudd, Gillard, Dudd Fed government era. Do you want me to go through some of the recent state government ALP opportunities?

The dreadful era.....like debt
What was dreadful compared to now

 

[Humid]

Deflecting again are you...how is the cost of housing going in Melbourne. Remind me again who that state government is?

And Sydney

 

[greggles]

Really? Immigration has pretty much ceased since Covid yet here we are seeing record prices

I think there are different factors at work at the moment. Regarding migration generally, I don't think you can bring more than 3 million new working age people into the country in 15 years without that having a significant impact on demand for residential property, especially in cities. That increased demand is likely to have a significant upward pressure on real estate prices.

What's happening at the moment is a rush to hard assets - of which property has always been king - in a time of very limited supply. There simply isn't much stock around at the moment and that lack of property for sale is pushing up prices more than usual.

 

[over9k]

Your position of playing the victim and blaming older generations for your problems is pretty evident

That's because they are the cause of my (and everyone else my age's) problems, and I've explained why quite conclusively - I've shown you the data, I've pointed out an awful lot of "coincidences", I've mentioned what I've overheard at party meetings, what more proof do you need?

Like I've said before, it's very hard to get someone to understand something when they are financially enriched by not understanding it.

In reality, I think you understand just fine, you just don't give a **** and know you can't admit that you don't.


And I say all this as a liberal party member, with a house, and with a house that I'm renting out for an absolutely ridiculous amount knowing that the only reason I can get the kind of rent for it that I do is because of the massive, totally artificial, way-above-natural-level demand for housing that this country's immigration policy has created. I won't even be negatively geared once the renovations are done, it'll be a pure wealth extraction vehicle out of the pocket of a renter stuck in the poverty trap and into my pocket instead.

I shouldn't be able to do it, and yet I can, and I'm going to, because there's no alternative.


Anyone with a brain would think that if an economy is organised in such a way as to make extracting wealth the only way to get ahead then there might be a problem, but not this country apparently.

 

[over9k]

I don't know why you're laughing, I'm dead serious.

 

[MovingAverage]

And Sydney

Deflect....?

 

[MovingAverage]

I don't know why you're laughing, I'm dead serious.

Oh, I’m laughing because I know you are very serious.