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How can we still pretend we have hardly any inflation when people with 0 productivity, can make that much in what is the "de facto" capital of Australia, so a huge number of owners got that extra wealthy.I wonder if the covid driven migration to the bush can be sustained?
From the article:
Work, rest and play in regions: Mars calls for sweeteners to help young people go bush
COVID-19 and big-city costs of living are making the regions more attractive to young people. Now the maker of Mars and Snickers says we need to invest more in skills and bush infrastructure.www.theage.com.au
The overall number of people working in manufacturing has barely changed over the past two years, but in food manufacturing it has climbed 6 per cent to more than 222,000. Many of those jobs are in regional areas.
Mars, which has production sites in towns such as Wodonga and Ballarat in regional Victoria, has conducted survey work to find out if people – particularly STEM-trained young Australians – are prepared to move to the regions.
Its survey of 1000 people studying or working in manufacturing, trade or STEM (science, technology, engineering and maths) careers found up to 79 per cent of Millennials were open to the idea of moving bush.
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The main reasons for moving were the cost of living (cited by 49 per cent), housing prices (48 per cent) and a change in lifestyle pace (45 per cent).
People living in NSW (56 per cent) and Victoria (53 per cent) were more open to a tree change than people in other parts of the country.
COVID-19 was mentioned by 69 per cent of Victorian survey members and by 63 per cent of those from NSW as a reason to consider moving.
The federal government’s peak infrastructure agency, Infrastructure Australia, last week released a major report in which it noted the largest exodus of people to regional areas from major cities since the 19th century required a rethink of how infrastructure is put in place.
That exodus has been partly driven by high house prices.
The median house value in Sydney has climbed by $307,000 over the past year, or $843 a day. Melbourne’s median house value has jumped by $173,000 over the same period, while in Hobart it has increased by $169,000.
In some areas, such as regional NSW and regional Tasmania, prices have increased more in percentage terms than capitals. But they are still far cheaper.
And in all regions, the proportion of monthly income used to pay the mortgage is substantially lower than in a capital city.
I was feeling lucky that with all RE in the sunshine coast, i made a killing wealth wise but this is nothing..and not right..not a moral issue, but an economic one.an economy self destroyed and a pretence of booming wealth.
