Australia's Housing Crisis is Insane.

Greed and inequality by those in the government who swear the oath not to the people but to some English pawn wearing crown.

The only country in the world in which policymakers have betrayed their constituents more than the Canadian policymakers have betrayed Canadians, is Australia.

Australia? It is no longer down-and-under - it is down-and-avoid.

This is accurate.

All by design. Conflict of interests from politicians, negative gearing, irresponsible low interest rates and too much gov interference. These issues have danced around the real issues of our housing crisis.

China owns Australia now 😢

Lol wheres Brisbane?

4.3 in the US? It is 7. We are fucked here. The last time it was 4.3 here was after the 2008 crash.

isn't this going to lead to a bubble popping and causing a crash

I’m forced to spend my retirement savings paying my child’s rent because it’s impossible for her to survive on a hospitality wage. Rent is inhumane. I’ll be homeless myself when I retire 😢

This is easily fixed if the Banks werent so greedy, drop the monthly payments extend the contracts to 99 years ,( no different then payng rent all your life, this way you cant be evicted )if they go past when a person passes on, the kids should be able to inherit the house and the contract, in Europe at one stage not sure anymore as i havent been there for a very long time, but a person renting, had a contract for 99 years, i know that for sure as it happened a neighbour passed away and her 3 girls inherited the house and payments, so its the greedy banks that are the cause of this, drop the payments, i am sure people would agree.

I love Australia, things are tight for me but I am very blessed to not be struggling as much as many. Planning to move to scotland in next few years, to all my fellow Aussies under 30 I know its a brilliant country, but enough is enough. If you can look else where look at leaving, unless ok renting for good. If on under 150 grand. much love

corrupt country without a real economy 😂

Housing used to be considered the national governments job, as part of economic planning. Then you got a few greedy/social bigots in charge and suddenly it’s all ‘the free market is the best way’ and ‘social housing is a welfare issue!’ and now not only is a basic human right driven entirely by profit, but the basic infrastructure needed to enable better or further development isn’t within the sphere of control of said developers.

The solution is just to build way more. So the real problem that need answered is "Why arent they?".
Also, if unless you have a high end job, you can barely afford to pay the rent in that city, why dont just leave?. Normally, if you have to work in a supermarket, you are better in little town than in the main city.

Everybody needs to learn from Singapore mate

The Great depression on it's way

Well the government "property developers" caused this to make money.
Dam look at the houses the government own "housing commission HOUSOS" they are happy to leave them get destroyed and stay empty.

And tax payers pay for those to. Is in it ironic "sus" don't ya to ironic "sus" don't ya really think.

Why do you think the friendly jordies got raided by the terrorist squad? Because they told the truth about the government.

There's someone at me door I've got to go.

The Brains behind lockdowns and crushing the construction industry was word perfect.
Even Mintos McPhurgarse in a coma saw this shitzs ship coming.

Demand has gone up. From more People not interest rates. Gaslighting argument.

Why can’t Australian buy an apartment or unit? It’s like people can afford a watch as Rolex is too expensive.

Australia and Canada are inundated with and marketing to the rest of the world using fake job advertisements, misleading housing information, unrealistic lifestyles, and exaggerated savings/income claims. People around the world, especially from countries like India, African nations, and other South Asian countries, fall for these deceptions and diligently complete all formalities to migrate to these scam-filled countries. Meanwhile, these countries open their doors for free entry to fake refugees, allowing them to stay anywhere with luxury. The Australian and Canadian governments and their immigration departments are complicit in these scams. Despite their large land areas, these countries surprisingly offer no adequate land or housing for legal migrants. Councils, developers, and builders work hand-in-glove to control housing and inflate land prices for large profits and claim tax benefits, and produce fake bills to claim work travel accommodation on the houses they own themselves.

No affordable housing or low-interest loans for first-home buyers. This affects individual career growth who are looking for housing, family life, and nation-building.

Scammer recruiters, scammer migration agents, scammer real estate agents, scammer university courses.

Scam countries Australia and Canada.

Thanks socialism :)

The lucky country.

How ridiculous was the Anthony Albanese decision to open the immigration flood gates right when we were already struggling with a housing shortages.

It will never get any better until we have a change in our political system. Liberal/labour are on the same side of politics. We don't really have a 2 party system simply because they all do the same things regardless of which party it is. I don't think we should change to a democracy and have a president. But our 2 party system needs some competition for leadership of this country. Labor and liberal parties should be disbanded. They have failed consitently for the last 50 years to run this country

Just over 200 years ago, indigenous people lost all rights to their home,van demonsland.....
Now it looks like Australians as a whole,young and old, can't afford to live on their own land
Ironic don't U think???😢😢😢😢😂😮

Australia destroyed its housing by forcing capitlism down our throats, pusging the idea that its the only way for housing to function, meanwgule the elites dont invesr in anything but housing

A fourth root cause of the crisis is the torrent of subsidies to higher house price speculators: the Negative Gearing Benefits (NGB) and the Capital Gains Tax Discount Benefits (CGT). The NGB is currently $24 billion annually, whilst the CGT is $1 billion annually. Total: $25 billion annually ($25,000,000,000.00 annually) or more than $2 billion monthly. To qualify for these benefits, no new dwellings need to be built. These are huge subsidies to price speculators speculating up prices of existing dwellings. And it works in that regard. Imagine if, instead of the NGB and CGT, $25 billion (annually) were applied to the supply side by way of building new public housing stock. That would be enough to build 25,000 one-million dollar homes or 50,000 half-million dollar homes yearly, every year! And it would cost the system no more than the current NGB and CGT. The numbers above suggest that the root cause of the housing crisis are the major subsidies to higher house price speculators without any requirement to build new homes. It also indicates that the necessary money is already in the system to solve the crises; it is just that government policy applies the money $25 billion annually) to aggravate the problem rather than solve it.

The Australian Census Bureau states their are currently over ONE MILLION unoccupied dwellings in the country. I know of several within a km of where I live. Why are these sitting empty? BECUASE OF RIDICULOUS TAX BREAKS FOR THE WEALTHY AND INVESTMENT FIRMS THAT MAKE IT PROFITABLE TO BUY A DWELLING AND LET IT SIT EMPTY.
Australia could end the "housing crisis" instantly. All that is needed is a law that states all tax benefits will be lost if a dwelling is unoccupied for more than 30 days per year. This would force the owners to rent them out or sell them.BUT THE GOVERNMENT DOESN'T SERVE YOU THEY SERVE THE WEALTHY AND BIG BANKS.
Why is it Australia's billionaire owned corporate media never ever talks about the impact of negative gearing and other tax giveaways to the wealthy and how it has created the mess we are in? I'm sure you can guess why. And now the corporate media is trying to stir up anti immigrant hysteria labeling that as the problem when it is not. But look at how Murdoch's media in the USA and the UK has stirred up anti immigrant hatred in these countries. Why wouldn't the same happen here?

Boomers ruined housing for their own greed. They use it to get rich and have zero regard towards ruining the future for their kids and grandkids. This is evil

These needs a serious government intervention by providing affordable housing to the qualified minority. It is one of the ways to tame down the prices.

Oh wow. I thought only Canada was going through this. Australia's always been my dream country to live in, that's unfortunate.

Western Australian mining towns need people, there are lots of work, cheap houses lower crime, good schools and hardworking people

Why are we starting with immigration and not the greedy corporations

The national sport of Australia isn’t footy, it’s buying houses

2.4 .million temporary visa holders!!!😊

I remember looking for my first home back in 2000 when GST was introduced. Our mate John Howard & his treasurer P Costello allowed interest rates to drop & allowed migrants to come into Australia. The snowball effect started then… It now has become an avalanche…….

Complaining about not being able to buy a house in Australian capital cities is the same as walking into a Ferrari dealership and complaint that you can’t afford to buy a car. There’s plenty of affordable housing outside of the big cities, but I guess they’re not trendy enough for younger buyers.

It's the Govt's fault. I spent my apprenticeship with a Company that was only building smallish affordable low income family homes for the Govt. Families could rent with an option to buy. That system disappeared 30yrs ago.

Basic changes in immigration and such will cause a correction.... Primarily the gains since COVID will fall....

Simple fix - Stop foreign purchases of more than 2 family type homes

I’m mad as hell!!!

Can fully rebel now. You gave away your weapons. Lol. Suckers

Most of this is bs. Price falls on houses in Melbourne and Sydney are around 16 -20%...prices for units and apartments have crashed. No one wants them .. body corporates are sharks and push back when owners have many problems.. don't but a noisy apartment.. wet a paper towel and go out onto your balcony and rub the windows with it.. paper towel is black .. I moved out of the apartment which I knew was killing me with air pollution and noise pollution
Shocking with v8s and 12s and the enormity of cars everywhere. I bought a great 3 bed townhouse where the air is breezy and clean, where large parklands provide a buffer to noise . It is just bliss without these poisons. And re my apartment which I sold as an owner occupier, the reality is that renters are slobs, ignore keeping bins clean.. and they don't care.. it makes it hard to sell when other tenants are like that and the apartment common area become dirty and untidy then when the ratio of buyers to renters changes where 80 % are NOT OWNER OCCUPIERS .
My other comment is that many first home buyers are too pampered, too undisciplined to stop buying the take away and the coffee and the footy ...etc etv etc . If they are with in a long term relationship with 2 incomes there aren't excuses. I have an excellent 3 bed townhouse yes 30+ klms from.melb and you can too if you are disciplined truly disciplined. But many always have excuses

How did you make a video like this without mentioning the land banking and the number of houses kept off the market? Supply shock is artificial.

LOL! Who wants to pay 1 million dollars for a shit tiny home?
It's ridiculous! Reduce immigration or halt it all together and start building new homes or 3 bedroom apartments.

"Diversity is our strength". Yea sure....

"Should unemployment rise...", AI says hello.

1300 per month is not 67,600 per year