homes4aussies on Australia's housing crisis (2 of 3)

By a Gen X for fellow Gen's X, Y and younger. Part 2 discusses the impact of the housing affordability crisis on us younger Australians. Then I discuss what we, together, can do about the situation. Currently there is a tax review going on in Australia and it is important that we are heard in this process.

Category:

Nonprofits & Activism

Tags:

• House
• Housing
• affordability
• crisis
• bubble
• tax
• review
• property
• rent
• buying
• home
• negative
• gearing
• capital
• gains

[gowrishan]

@keithbollen big portfolio eh? better sell em yo! :)

[gowrishan]

one thing we also don't factor is social trends. Why do you think high speed internet ISN'T rolled out into the greater countryside - SO PEOPLE DON'T MOVE THERE. I would leave the city in an instant, granted I have reliable fast internet required for my occupation. This is the case for a growing number of young proffesionals and lets not forget the 'sea change' trend in older generations.

[gowrishan]

@FishyMoe don't get down so much, the housing market is going to self destruct, then you can pickup a cheap foreclosure from a stupid babyboomer. We have waaay too many houses and a massively declining population NOT offset by immigration. Trick is, just don't have a mortgage :)

[67675656565655656565]

@keithbollen bottomline houses are a ripoff average schmoos arent getting paid enough to pay of these houses simple.Plus some people are stupid enough to get to get sucked into having personal debts ie car loans tvs etc.But even if you take away that personal debt your still fucked.Is that clear enough for you fuckface.

[BoudicaAj]

Well said Brett! Your explanation of the RMBS purchases by this Govt is what I've been unsuccessfully trying to aticulate for some time - I tried to raise it with Steve Keen who was more concerned about losing a bet. As a baby boomer, I also agree, we're robbing the next gen to avoid pain; but in my case I saved through 35 yrs working to buy a modest home on retirement last year - alas a 20% rise in 09 priced me out, and now my rent is increasing by 50%. I'm moving to a motorhome & waiting.

[FishyMoe]

I am 21 now and my future looks bleak. It seems that everyone will have to be a doctor or a lawyer to be able to afford housing in the near future.

[astro7894]

this is an excellently clear and accurate video in my opinion. my advise would be to keep on saving and eventually rates will rise and houses will go down... and dont save in cash, save in gold, because it protects you against the constant house price inflation. for example in the last decade gold has gone up 4 times! .. because people demand gold to protect them against inflation or any type (including house price inflation).

[fox20012]

Neither one is in the wrong, the baby boomers aren't wrong and Gen X Y and Z aren't in the wrong.

basically Australian ppl are honestly really really stupid and don't research shit.

Fractional reserve banking is what is destroying the capitalistic fabric of this country, and as this guy is saying in the video, govt intervention is keeping the ball rolling smoothly with things like negitive gearing and the grants.

But the obvious question is who started this n what other shit is happening

[brettedgerton]

Actually, no Keith, it is an error - that is why any publication of past results MUST by law come with a disclaimer that it should not be presented as a guide to the future. Again, way off on the negative gearing - it promotes speculation in housing, therefore skyrocketing rents when small scale investors realise that the capital gains aren't reliable. Our younger generation would be better off if small scale investors did not dominate the rental housing sector!

[keithbollen]

It is not an error to assume that past performance will be repeated. Property will move with supply and demand. By the way, if investors were not getting negative gearing, imagine the rents they would need to slug the younger generation, thereby frustrating their ability to save. The biggest problem that needs to be addressed is teaching the next generation how to manage credit and work within budgets, the real issue today.