yes , HOWEVER we have seen governments ALREADY unleash ( previously ) unimaginable levels of stimulus , and rent/mortgage moratoriums , they might resort to those measures again , or reach for broader support measures ,
The reality is frog, Australia is an anomaly, where we have copious amounts of land, a small population and an amazing amount of wealth through minerals.
It wont happen, we will just keep importing buyers, we have plenty of land.
Yes and the builder advertises in the newspaper, that has climate change and global warming, filling the first 5 pages.
I agree ..but saying negative gearing is the cause of 60y old persons sleeping in their car...hum...
100pc agree.but this is a country where a state is playing North Korea against omicron and people wear masks in own cars and stockpile toilet paper while meat shelves are empty as we prevent able people from working...good luck ..this gentleman will not find a roof soon.Central planning versus free markets. A somewhat ideological debate that's been around a long time now.
Personally I'll argue that free markets do a better job of just about everything with the notable exception of single integrated systems such as power grids, road networks or water supply where technocrat central planners have the advantage and markets are problematic at best.
But we're here to talk about housing not how to make the traffic flow or keep the lights on so why am I mentioning that? For good reason actually and it's because regardless of which side of the fence someone's on with that debate, one thing I think we'd all agree on is that either beats neither. However imperfect a centrally planned supermarket or market designed city streets might be, they beat having nothing at all.
Trouble is right now we don't have either system working as intended and that goes not just for housing but for just about everything. There are very few instances where a true free market is in operation without someone meddling in it meanwhile there are also no technocrat central planners tasked with meeting society's needs. With few exceptions that's across the economy, it's not unique to housing although that's one of the worst areas.
With nobody in charge with a plan, and no free market as an alternative, it's pretty much inevitable that it's going to be chaotic and that is indeed the outcome. Both approaches can only work if they're allowed to actually work.
Don't worry,the millenials are being sold the new posh version of trailer park living: tiny house
I never said negative gearing is the cause for a 60 year old living in a car, a 60 year old living in a car in Australia is hard to fathom, are they living in a car in Sydney or Dubbo?
Mandurah
No you did not but Sir Rumpole was.
I usually close the windows and keep driving
Oh well, @IFocus and I have to be thankful for small mercies. ?
Compare now versus any time in your own life.
No personal grief either just to be fully honest: i own house and land,Compare now versus any time in your own life.
So far as the ability of an average worker to afford a house is concerned, the situation has gone backwards that's undeniable. What a manual labourer could easily achieve 50 years ago is now almost out of reach for a qualified professional.
As an investment housing's been great for many but from a societal and national economic perspective there's a problem most certainly.
I'm in a situation that many are in. I own outright, I'm doing fine, but it would be pretty much impossible for anyone to take the same path today that got me there.
To the extent I'm concerned, it's concern about others and the future of the economy more broadly, it's not a personal complaint.
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