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 ,If you are in your 60's, you have seen enough booms and busts, to realise this is shaping up to be a big one IMO.
It will be quite interesting IMO to see how it unfolds, especially in Melbourne /Sydney massive mortgages dependent on massive wages and low interest rates, that sounds as though the elastic band is stretched about as far as it will go.
interesting times are a coming ( so is your newly built million dollar home well-built , or just conveniently located )
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.Sp you expect everyone ar retirement age to own his her home?
I looked for a socialist Scandinavian heaven:
Sweden: where less than 40pc of people own their houses
Australian situation of very high ownership is an anomaly and the Reset coming is making sure we will go back in rank...
https://www.statista.com/statistics...ority of,were rented multi-dwelling buildings.
It wont happen, we will just keep importing buyers, we have plenty of land.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 ,
a BIG one , yes .. but WHEN ( will the government be forced to buy all those delinquent mortgages , and become the lender of last resort )
Yes and the builder advertises in the newspaper, that has climate change and global warming, filling the first 5 pages.Yes, that is another factor in rising house prices, developers who want to build McMansions from the start, instead of more modest homes that can be expanded as the family and income grows.
I agree ..but saying negative gearing is the cause of 60y old persons sleeping in their car...hum...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.
The problem is all this excess wealth is being swallowed up, in purchasing an over valued tiny bit of land with a brick shed on it, for a stupid price.
This then ties that wage earner and their partner up for years, so all that money is not productive in any way.
Ridiculous house prices, is actually going to send Australia broke.
All that money tied up in a non productive shed, rather than building businesses that manufacture somefhing and provide employment for generations.
Central planning versus free markets.
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 houseYes and the builder advertises in the newspaper, that has climate change and global warming, filling the first 5 pages.
Then McMansions filling tbe other half of the paper. Lol
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?I agree ..but saying negative gearing is the cause of 60y old persons sleeping in their car...hum...
Dissolve council, remove brakes to building and this will be sorted
As for house prices too high, just a compounded result of QE and never ending money printing.we just worsen the issue with manufactured limitation,regulations and brainless measures
MandurahI 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?
No you did not but Sir Rumpole was.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?
....millennials are being sold the new posh version of trailer park living.... baseless economically nonsensical theories which should be urban myths used as pretexts to do nothing progressive.... living in a society of free credit and globalism with socialism and cronyism for 1 or 2 generations at least.... Australian businesses can not compete and close.... Lost jobs move into welfare or baristas.... Australia is getting poorer regardless of GDP or average house price all denominated in a fiat currency with limited shef life.
I usually close the windows and keep drivingIt's cheaper to buy a unit in Mandurah, than to rent one. ?
The other issue is of course, isn't a 60 year old one of those fat cat baby boomers? You know the ones who are all sitting on millions, maybe the guy is living in GG's Arnage.
Oh well, @IFocus and I have to be thankful for small mercies. ?I usually close the windows and keep driving
Compare now versus any time in your own life.The usual pessimists posting the same gruel for the past 10+ years. It almost always comes from those that have not travelled, or kept themselves up-to-date and informed with a wide enough or varied enough information source.
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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