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If you haven't grown up in Australia it's very hard to understand the country's obsession with investing in property. It's like a national sport over here.

The scary thing is that when you finally buy your dream house which cost you a fortune, you finally realise that it’s poorly built and sinks and there’s nothing you can do because in the meantime the builder has gone bust

One of the main issues is that politicians still consider high house prices as a sign of a 'great market' despite the fact that it means people can't own their own home.

The sad thing is everyone knows but nobody's going to do anything about it, because the people in charge are exactly the same people benefitting the most.

Australia and Canada two commonwealth countries who are plagued by ineffective governments, and some of the world’s worst affordability crises ever

The system is not broken it's working exactly as intended. Politicians and their mates are richer than ever.

I have been living in Australia for just one year for a Master’s program and will return to Germany in 2 months. Therefore, I only had a one-year lease in North Melbourne. If I had stayed, the landlord offered me an extension of the lease at 15% more than I had paid before. Even though I was here for such a short time, I felt the fundamental change in the property market. If I had come just one year later, I probably wouldn’t have been able to afford the Master’s. Australians are such friendly, honest, and hard-working people that Germans could take a leaf out of their book. It hurts that politicians so often forget our young Australian friends. I sincerely wish them all the best.

I'm a Japanese. Our family visited Gold Coast in 2000. During the travel, we stayed at my sister's, who lived there as an international student. Her house had 3 bedrooms and she said the rental cost was only 730AUD/month. I thought, 'How affordable the housing cost is in Australia compared to in Japan, probably it's because of its vast land' That trip was so amazing and has stayed one of the most precious memories in my life. Today, Japan is well known as a country which has one of the most affordable housing cost in OECD. I couldn't imagine this at that time.

I’m a software engineer I earn 140k. I used to want a house and family in Australia. Now I’m planning how I can find a new country to live in. This place is an economic black hole. Politicians will never solve it.

As someone who lives in Australia, the housing crisis is out of control, rents have gone up, bulk billed doctors are a rarity now. It seems like a lot of the public services has decreased in quality. Many people now are moving out of the major cities to live in regional towns for a simpler and more affordable lifestyle.

I used to live in this 2 bed 2 bathroom townhouse in the heart of Wollongong in 2020 and paid less than 450 a week for the place. I moved out in 2021 and now I've found out the same place is being leased out for 700 a week. The system is broken beyond repair.

I moved to Australia a few years, its really shocking to see a country this size with a very little population suffering of a housing crisis. I feel sorry for the younger generations being deprived from owing a home because of some greedy politicians and rich people are writing the laws in their favour.

Aussie here - the biggest issue without a doubt is the tax incentives. A really simple solution is to allow negative gearing on 1 house - that way, mum and dad investment properties are not affected, but those owning 20, 50, 300 houses are not able to snatch up everything available! Currently an investment group can just write off squillians in tax by purchasing more and more properties. In the last census - 10% of all homes in Australia were vacant, tax that shit. We shouldn’t allow people to buy a house and just sit there without having people in it - having a place to live should be a right, not an investment.

As someone living in Sydney. These are the things i realise. 1. House prices and cost of living is insane and salary will never catch up 2. Taxation system here are meant to never make you rich

I'm disabled and currently unable to work. You got no idea how hard just keeping a roof over my head is. Last I calculated it, rent is around 65-70% of my government allowance alone. This leaves me with 30% of my pay to spend on utilities and food. You can probably guess that this isn't enough. I am forced to choose between bills and food, and as bills continue to rise its leaving me with less and less food. There are weeks where I have eaten only rice and buttered toast and still been unable to pay all my bills. I've received countless eviction warnings and I'm currently 6 days behind on rent, then I also have to get the car fixed up ($$$) for registration renewal ($$), a license renewal ($), and my rent is increasing by $50 a week, all by next month. I've been told to move somewhere cheaper, but I can't even afford that! Nevermind a down payment, I can't afford a rental truck to move furniture, because at the end of the week my savings are negative (not that I had any savings to begin with). Living here is impossible, and it's impossible to leave as well.

There's a common saying here in Australia. "It's easier to buy your second and third property than your first." Which says a lot.

I had an old fella tell me he bought his first house at my age, (I am 21). Said I just needed to work harder. I am a bartender 40 hours a week, I also study at university. And I barely, barely make enough to rent. It's so ridiculous how hard the world, especially Australia has become to live in.

When a non Australian comments on our housing crisis, now you know we need to sit up and take notice.

Don't know WHAT'S So ......special about this COuntry anywayy......like a 3rd_World!!

Funny that it takes an outsider to really nail the issues with Australian housing, and tax policy. Oh btw, in Aus, we're only allowed to talk about supply-side issues with housing. Demand-side issues like the immigration rate don't exist to our politicians or media. Kudos, my friend, for a much better analysis than our journos could ever hope to do. Great job.

It's because our pollies are all property investors. Policies would be different if MP's were banned from having stocks, shares, or investments in property. Vastly different

This why my adult kids still live at home. I'm widowed and homeowner. Without their help I couldn't pay the rates and power etc. They in turn can't afford to buy or rent.

Thank you. In Australia it's difficult to come across any article that expresses this information as clearly and concisely. You've done the people of Australia a great service.

Majority of the Europeans that live in Australia 🦘 are originally from England and Ireland and many British are still running away today to get away from the mess in the UK and bringing thier bad behaviours with them from the UK.

Wow you could replace “Australia” with “Canada” in this video and everything would apply. The parallels are crazy.

Australia is in deep trouble. And while it may be the second worst place to buy in the world, it is going to get even more difficult. More immigrants, and less relative construction. We have high taxation, high interest rates, and a cost structure that is baked into the price of all goods and services due to the serpentine rent-seeking holders of real estate. It makes everything expensive here. Young people have all but given up hope. I heard a crazy discussion being told to Mark Bouris the other day; someone working in a cafe would have to work till they were 63 years old to save enough for a DEPOSIT. And then banks wont lend to someone 63 years old, because they cant repay the loan by the time they retire. So, unless you're lucky enough to be on an income that is WAY above the average, forget it. I tell my kids, and every young person I meet, leave. Leave Australia. You cannot have a fair chance at life here, no matter how hard you try. Because the governments of the last 30-40 years have abdicated their responsibilities to the housing sector, and destroyed the future of our children.

Higher house prices doesn't mean a stronger economy or anything good. It simply means that salaries are literally going lower and lower and the value of the dollar relative to a house has diminished.

Unfortunately Australians don’t want this issue solved. Both parties have said they want to improve housing affordability while ensuring prices don’t drop and people can still invest & generate returns in property for their retirement. Solutions often involve first home buyer subsides, which only further inflate the market.

Born and bred Aussie here, come from Victoria, lived in WA and have lived in Tasmania for 25 years. After my husband died suddenly 4.5 years ago I had to sell the home we were buying in Hobart because I couldn’t afford the mortgage and moved to a rural town with a population of around 300. Very rural. I was able to buy a house outright from the sale of my other home. I know I’m one of the very lucky ones but in saying that I have to travel 1.5 hrs to doctors, hospital and any shopping. I’m on a pension but still am out of pocket quite a lot to see my doctor, no bulk billing and the cost of fuel is insane. The general cost of living in Tasmania is higher than mainland Australia and we don’t have the competition here so food etc is monopoliesed by a few. We don’t have mains gas on most of the island so its electricity and the price of that has increased so much. Housing prices here in Tasmania have gone through the roof and our homeless population is growing rapidly. This video is correct, our once vibrant wonderful country is being run into the ground by greedy corrupt politicians that neither care for our country nor its people. They are all in the pockets of big corporations and overseas investors. I’m saddened that my grandfathers and father fought for this country to have it destroyed by these evil people ☹️

I love the fact that you pointed out that you can't blame one government. Everyone usually blames it on the current government when in reality, if a new government is voted in it'll most likely still not be fixed. Great video

The cheapest suburb in Perth used to be Armadale. Then interstate and international investors caught on and started bidding and buying, sometimes sight unseen and prices went through the roof. Property investment has effectively killed housing for the next generation. A first home buying, two income family barely making enough to buy a one bedroom apartment. Disgustingly short sighted, blindly narrow minded. Completely aware of the problem and too frightened of voter backlash to change it. What killed Australia - cowardice. From all of our politicians.

This situation arose from greed. Business enthusiasts began promoting property investment as the sole path to wealth in Australia. Consequently, even median income earners find themselves deeply in debt, having purchased luxury cars, multiple properties. This has led to an increase in inflation, a rise in interest rates, and ultimately a crisis in rental affordability and housing. It is sheer greed that has caused these issues

Another big factor is black money pouring into Australian housing from all over the world. The AML (Anti Money Laundering) laws here in Australia are the weakest among oced countries. There were even talks about Australia getting grey listed by FATF. Unfortunately, both major parties are accomplice in this rot. They don't want the prices to stop climbing.

As an Australian I find this to be a fair summary. Now try convincing all those investors with multiple properties to get rid of negative gearing and the capital gains tax concession. Good luck. You're going to need it. And yet, if we don't do something, it will literally destroy this country.

the craziest thing is that rent is often more expensive than mortgage repayments

As an Aussie the best advice I can give to other Aussies is to leave Australia. It’s impossible to save money while living there, even if you earn $250K per year. Move to Europe and watch your bank account grow.

Nah mate the dream is not fading, it is DEAD. It's over. Zero hope of ever owning my own home. I'm actually considering building a bush hut on crown land in protest. They can find it and break it down and I will build another, and another. There are still ways to live for free if you are prepared to leave some comforts behind.

Well done. I'm a Canadian who lives in Australia and the only Australians I ever see covering this issue blame one political party or the other rather than acknowledging the actual structural issues that both parties continue to endorse.

Australia🇦🇺，is Quite “Raceased” the Longer you lived there !

All I see in the video material are small housing units, mostly single family homes. You need to build apartment blocks with 10 to 100 units, each with a small balcony and a living space of 40 to 80 square meters. In addition, build some 500+ unit buildings with very small units for students and temporary residents. That is cost effective and okayish do live in. Then you have a lot of space around the buildings for playgrounds, small parks etc. Thus, the quality of life can actually be quite high in such a dense housing area.

As an Australian, this is a SPOT ON summary. It pits my stomach with rage, because our Gov does NOT reflect our people. Like SO many other nations we are plagued by NGOs, Orgs and Management firms who lobby for Big Business. It shorts the democratic process. Y'all will some bad things about our history, but we're all pretty laid back people, work hard and love foreigners... just like every other nation on Earth ❤ Some people obsessed with finance, Just, want, MORE.

With very high population density, Seoul, Busan, Osaka and Tokyo have better affordable housing than any developed cities. This is mind blowing.

Don't know how this ended up on my feed but glad it did! Not sure if you'll ever see my comment but i just wanted to say what a great informative video! Honestly, amazing work - it was clear, well-structured, and well-informed. As someone born and raised (and renting) in Australia, I definitely learnt a thing or two-and reading through these comments you are definitely kickstarting some great informed conversation around this issue. Immediately subscribed - lowkey disappointed you haven't uploaded more videos for me to binge, but looking forward to future creations! Keep it up! :)

just migrate to Malaysia....you will find greatest happiness...i won't elaborate more...you do your own reseaech to find out...

You can't expect politicians who own multiple investment properties to lose value on their net worth by passing bills that will ban negative gearing...

Do a video on mega corporations not paying ANY tax in Australia...

It's incredibly humbling to hear an outsiders perspective of your own countries downfalls. I shake your hands

young Australian here. I'm not fucking staying here, there is *nothing* for me here. Staying here, I'll probably be in severe debt my entire life and will never be able to afford a house. Which, granted, could happen in any other country too, but I'd might as well do it somewhere I actually like 😭😭

I'm not even Australian and I find this situation incredibly frustrating for the younger generation and future generation. What a way to destroy a country! It seems to me the current land owners and politicians care nothing about the long term prosperity of their own country. It's all about the here and now and what some can gain at the expense of others. This is bound to lower the overall quality of life of the country.

with the global economy being so uncertain nowadays, moving to a new country can feel like a huge financial risk.

I used to studied in Australia🇦🇺 ，basically a Country of Origin for the KARENS and TRUMPs!! ❤😅😅

I'm Australian, and last year I had to leave my rental apartment in Melbourne. Rent prices soared from around $420 per week in 2020 to $650-$700 per week for a similar two-bedroom apartment by 2023. As a teacher, I was forced to move when the owner sold the property, facing skyrocketing rents with no available options. The situation became so dire that I had to return to my hometown of Perth (after living in Melbourne for 20 years), relying on my cousin's kindness for shelter. I'm still here, where rentals start at $550 per week, and any decent apartment costs between $650 and $800 per week. I had to give away thousands of dollars' worth of furniture in Melbourne and leave my friends behind, completely uprooting my life. This greedy, appalling housing crisis has turned my world upside down, and now I have to start over as a mature aged man.

TLDR; Cost of rent and healthcare expenses is creating a broader dampening effect on Australian quality of life as a whole. As a Canadian who moved to Australia in 2009, the most disturbing thing in addition to the housing crisis is the degradation of universal healthcare. In the last 2 years, we've pretty much lost access to no-cost doctor's appointments (it's $40 per health issue for a 15min doctors visit, 80 upfront and you get 41.40 back from the gov't Medicare system). Now add into that that after the age of 31 you are required to have private hospital insurance. Which is so expensive to get the silver, gold, platinum tiers that actually provide decent coverage, that you get the silver then every time you claim - like American insurance companies - they fight you and try to deny your claims and there's a gap to pay, which can be 1000s. Last year a guy in my team at work rolled his ankle and needed surgery, he could have gone public - but if you're middle aged you're literally expected to use your private coverage. So he did, and he end up having to cancel his family's vacation that year, because it's going to be $2-3K gap with his insurance. He chuckled and said 'Oh well, I won't be able to run on the beach anyway for awhile!'. If he hadn't lost that money on surgery, I know he'd have sat on that damn beach just fine. For my part - I've had 3 major surgeries at no cost through the public system, but for one of those, I did have to wait 6 months and it probably worsened the condition, but to me, saving $5-7k (cost for gallbladder removal private hospital) was worth the suffering. People wonder why bars are empty, travel and tourism is down domestically? Rent and increase in healthcare costs and anxiety about possible healthcare costs, which keeps even young people at home, becasue they know they need to save for emergencies - means a less vibrant society. See the music festivals cancelled in Australia this year - and this is a country where festivals used to THRIVE and be a major social thing. As for rent, it used to go up just $5-15 a year, depending on the area. My rent went up $100 a week so $400 a month this year. I'm told by my asshole Property Manager with dollar signs in his eyes I shold be GRATEFUL my landlord is so kind - other 1 bed apartments w/1 carpark got theirs raised $125 or $150. I keep wondering, if they raise it a 100 every fucking year - what will I do? I'm a white collar professional, 41 years old, who may have to move into a sharehouse again?? It's disgusting. It's insane, and I feel like it's only when enough middle class families are put in the streets that we will have some kind of pitchfork style revolution. It can't go on like this.

It's interesting that Airbnb wasn't mentioned as part of the rental crisis. We live in an area of the country where there is almost zero immigrants, and 10 years ago half the town was either for sale or rent, but now every home has been purchased and turned into Airbnb and it's the same in surrounding towns. The government changed the laws and restrictions surrounding Airbnb somewhere around 8-10 years ago and it's having a massive effect on the availability of rental properties everywhere in the country.

1. Reduce the tax rate for small businesses to something like 10-15%, ideally even lower (considering how there is currently no advantage for anyone to start a business in AUS) 2. Heavily tax foreign-owned properties and put a 100% tax on such properties that are vacant 3. Raise the criteria for immigration to highly-skilled immigrants 4. Introduce an inheritance tax for high net worth individuals 5. Incentivize developers to build housing apartments and discourage urban sprawl, perhaps with tax incentives

Its not hard to understand. Howard and Costello HALVED the capital gains tax, whilst introducing negative gearing. In Australia, we have very high wages mixed with high income taxes. Meaning, if you earn in excess of $200k as an employee, HALF of your earnings go to tax, your only way to minimise the effect of that income tax is to purchase a 2nd property and negatively gear it and use the costs as deductions against your taxable income. You'd be financially illiterate to not find ways to minimise your tax and unfortunately Australia, namely the liberal party, have incentivised you to do this through investment properties.

Yep can confirm, I live in Sydney and will be nudging 150k for my yearly wage and can’t afford to live here. In other words, legitimately clearing 2k a week, that’s equal to 104k clear cash for this financial year and it’s not enough to live here. So I’m out, leaving Sydney over the next few months and moving back with family in Melbourne 🤷🏼‍♂️ The result is that Sydney and most of NSW is losing young highly trained and skilled people, only to be replaced by cashed up immigrants or new arrivals that are happy to cram 10 or 20 people into a single dwelling. The birth rate is also plummeting and at record lows due to the non availability of adequate housing, unless you’ve got 2M plus to spend. Government’s solution is to crank up immigration causing more pressure on housing and so the merry go round continues at the circus. Throw in local and foreign money laundering amounting to hundreds of billions of dollars that’s pouring into realestate, and most politician’s extensive property portfolios, your average Aussie hasn’t got a hope in hell. Basically we’re all fucked here unless you’re a multi millionaire 😕

'And if you were born after 1992, you probably don't own a home and might never.' WHAT

love the fact that you're covering this, at 20 years of age and living on my own, the cost of living is insane.

What a great video. So true I am sure not a lot of Australians would know all the facts that is at least not until they have to rent. I am Australian and your video is spot on. Thank you.

Being a dual citizen, US and AUS, I can say reading through these comments that they are a very accurate assessment. I myself have recently moved to Thailand to remove myself from all the circumstances outlined in the comments. Here's a story from the past. I first arrived in Sydney in 1996 and wound up in Willoughby. I was curious to look around so I went to a real estate office and saw that the houses that area, which were quite high quality, in the US might have been $350, to $500 US, were 125 Australian, which amazed me twice because that was also about 20% cheaper just on the exchange rate. So I asked the real estate why it didn't seem many houses were for sale. He told me that a Japanese had come in and asked how many properties were for sale. He said, "Twenty-one." The Japanese buyer said, "I'll take them all." I returned again in a year, and the median had doubled to around 250,000 in that one year. So today I just checked and median property prices over the last year range in Willoughby are from $3,219,000 for houses to $1,200,000 for units. Same everywhere. When I left about 9 months ago, ANY property listed was gone in 1-3 days. It just seemed like any property that became available was being bought by people with nothing but money, and forget about anyone "normal." So yeah, real estate in Sydney is out of any normal person's price range by a wide margin and never going to return. And while you are at it, rentals are practically impossible to find in any desirable area, and the outer country prices just seem to have adopted the same pricing to a lesser degree. It's quite the conundrum as outlined by many.

I have never visited Australia. I used to live in Vietnam and want to give my perspective as an outsider. When people talk about Australia, they normally associate that country with an easy international educational acceptance. What I mean is: that people will try to send their kids to the US, Canada, Singapore, and the UK first before trying Australia. They know Australia is the easiest country to get in, and they will try it as a last resort (if they fail to send their kids to every other country). I did not realize that easy policy could cause a significant housing problem until I saw this article.

Thank you for your thorough research and well thought recommendations.

As an Aussie living in a large industrial town with loads of workers in the mining industry, our rents have sky-rocketed to beyond ridiculous! Half of our town has low income population and cannot afford to rent a house in the private section. So many of us live in government housing that is severely lacking. The rent is supposed to be affordable for these people. Now it has risen and I share with family to be able to afford to live here. I would love to be able to move out and over to a cleaner air town, but this is just about impossible now. In my 70yrs, I've never seen it this bad! 😢😢😢

It’s actually cooked what’s happening to your country. It’s a big reason why lots of Aussie’s don’t wanna be here anymore. Cost of living is driving everyone into the ground.

One thing that you have failed to mention is the billions of dollars that are laundered through property here in Australia, you only have to attend an average auction to see the "buyers representatives" that are out biding all the people present on behalf of their criminal employers!

And all of us displaced Australians are thanking the government in return by not having any money leftover to buy products, eat out, go on holidays or invest in our communities by volunteering our (non-existent) spare time. The situation is so dire it's palpable. Good luck getting young people motivated to have families or join the military. The government has absolutely stuffed Australia.

Yeah, I hate it here. Suburban sprawl is terrible for the environment and quality of life, but everyone is so terrified of densifying partially because they're all clinging to the picket fence and backyard dream, but also because the body corporates that you get in multi-dwelling buildings here are timewasting, inefficient and expensive. Even a 40+ year old apartment building like the one I work in charges $170 a week in body corporate fees, on top of which you still have to pay your council rates and utilities. I'm very in favour of higher density living and urbanisation but there needs to be serious changes there. Of course, the problem with the ever growing suburban sprawl is that nothing is being built into new developments but houses and an occasional shopping plaza that holds one supermarket and a handful of smaller retailers at best. So you're left with a cold, lifeless place to live with no scenery, landmarks, culture, nightlife, or activities, absolutely no public transport, a 75 minute commute to work and a 20 minute drive to the closest beer. Our biggest export is mined materials, and yet we let mining companies make billions off our land, pay higher prices for it as consumers than other countries, and let them get away with paying no tax or royalties. Instead the tax burdens are passed onto the average person through income tax as well as some of the highest taxes on alcohol in the world. You can't even afford to be an alcoholic on the average wage here anymore. This place is cooked, and there aren't many options for people my age that aren't cushioned, wooden, and nailed shut.

Australia has become a bleak place, you can see the financial stress impacting so many. The government is squeezing one segment of the population to the death, all in the name of curbing inflation.. Why not an approach which doesn't only target the vulnerable, such as a variable GST indexed to interest rates? Inequality is increasing rapidly, homelessness becoming common and the 'lucky' country looks to have run its course.

This was a good commentary and very well put together. Keep up the good work

Greedy, corrupted, incompetent politics impacting flat/housing market is a global problem. Sad to see it grew that big in Australia. Hope we don't catch, unfortunately we are on the way here too (Poland). Good video, hope it will raise the awareness.

You can name this video 'Why Living In Canada Is Impossible', replace Melbourne and Sydney with Toronto and Vancouver and all the issues addressed will still apply.

French here, living in Australia for the past 5 years. What baffles me here is how stupid politicians are. They very rarely have any educational background to support the economic intricacies of policing a country. It's very often populist who are elected, feeding off the unstainsble promises to rich people/home owners. If Australia was a person, it would be a boomer/Nimby, who are essentially the reason why there's a massive cost of living crisis in most developed nations. They want all the perks, without having to give much back for the greater good.

The problem isn't that the housing situation indicates an unfair economy, it's that successful people are the minority and their wealth gap is huge - and they exist in every economy. If we (the Aussies) stopped investing in land and started investing in R&D or in productive businesses you'd still have the rich and poor and there would still be vociferous opposition to it. In short, the perceived problem isn't expensive housing in specific, but wealth gaps generally. it's just that housing is this country's scapegoat.

At least in Australia, the houses yall buy are yours forever. The houses we buy in Singapore has a 99-year lease and it HAS to be returned to the government for NOTHING after that.

you're all getting it wrong, its not that these govts are ineffective and this outcome is unexpected, the reality is that the land owning class is also the ruling class and theyre setting up rules to benefit themselves

20 years ago I could live in cheap share accomodation in any suburb of Sydney, now its impossible, I feel sorry for kids who want to leave home and start life, its a nightmare currently

I rent in Brisbane and have a household income of $200k per year. The stress of raising a family and working full-time but only saving $50-$150 a fortnight for a house deposit where the houses when from $600k to $1.2m in the suburb we were looking to buy. We were born in 1993, we could buy a house 90mins from our jobs but we would lose a combined 4-6 hours of our day commuting and never would afford any luxuries. My wife and I gave up trying to save for a house during COVID watching the prices double. We would rather be stuck renting and provide a better upbringing for our kids than live like we are homeless under the crushing weight of a mortgage we can barely afford.

As a young Australian, I constantly fantasize about owning a tiny home on a sliver of land as it may be the only way I can ever afford 'The Australian Dream'. I earn a very decent salary for my role without having left university just yet but I can still only afford to live away from my parents because I share with my partner and his parents own the property. It's still 45 mins-1 hour drive away from my workplace, the city/CBD, my university, my family and friends. It is a deeply complex issue and my concerns are only increasing. We both work so hard to manage study with work and our household but still need to rely upon the generosity of our families, despite us living modestly (savings? What savings!). My rage as a young person is increasing and buying into the Australian Dream is becoming a pipe dream that only the wealthiest Australians and investors can afford. Our parents are still relatively fit and healthy people so even with inheritance, the hope of security in owning my own home may not be achievable until I'm in my 50s, still a good 30 years away. I will still continue to work towards this goal, however for the meantime, this goal is quite frankly, unobtainable.

One thing that was not mentioned which is (on very good information from someone with over 30 years at the top levels of real estate rental experience) overseas investors buying up houses and land leaving them vacant. Add that into the mix and it increase unaffordability of housing. Why offshore investors are allowed to own housing real estate in Australia while so many other countries don't allow foreign investors to own any land is beyond crazy.

There is so much dishonest reporting of this situation in Australia due to people's generational/financial/political biases that this video is very refreshing. You've done a great job describing the situation accurately.

Every time I thought ooh I'd love your take on this aspect of the Aussie housing crisis it was the next topic 👌

Im glad I'm a millennial in WA. There were so many first home buyer packages and bonuses when i was in my 20s. Myself, my siblings and all our friends were all able to be homeowners thanks to those grants and low interest rates back then. No need to ask family to financially help us for a deposit, plenty of options. There's no way i would be able to buy now or afford to rent.

Australian here, and also a renter stuck in the midst of the housing crisis. The argument that urban sprawl is being stopped by "NIMBYism" is ridiculous. The real "NIMBYism" is people blocking densification within their suburbs - not urban sprawl. Blocking urban sprawl is a good thing - Australia's urban sprawl comes with a plethora of social issues such as car reliance, urban heat islands (50C+ in the summer...), antisocial/loneliness issues, huge commute times, and so on. And worst of all, they contribute to Australia's environmental crisis - with half of Australia's threatened species predicted to go extinct within 100 years. The NSW Government, who aren't exactly progressive, have even recognised this, and their housing strategy revolves around densification near train stations and existing brownfield sites. I know you mentioned this, but then went on to say those who oppose sprawling, lifeless, destructive suburbs as 'NIMBYs' - just straight misinformation. Sorry.

I left Australia for Albania (I am a citizen of both) back in 2017 and never looked back. Tirana has everything that Sydney used to have including laid back lifestyle, affordable living, and plenty of personal freedoms, just to name a few. Sad to see that things in Oz are going from bad to worse.

hey, best video on the topic. seen lots of videos like this, but none actually go into implications as yourself.

Australian governments have been focused on short term money gains for a long time, and the lack of long term foresight/planning/sustainable growth has caught up to us. This will now spill over into social spheres in the country and it's not going to be pretty. I'm off to Europe, wish me luck!

All by design... "You will own nothing and be happy"....

I'm a yank that lived in Cheltenham (Vic) 2012-2017. From what I saw when looking to buy a house, some Chinese dude would usually show up to the street auction and outbid the top bidder by $10K at the last moment. Disenheartened, I gave up and then decided to move back to the USA. I'm sorry to see what happened with real estate in Oz, but I'm actually glad to have left.

Great material. A lot of valuable i formation presented in a clear and understandable way.

I live in Australia. I make decent money (can save 500~1000 every pay) but even now I have started skipping meals just to save money. Food is very expensive. My rent is not too bad (I’m in Brisbane) but food, petrol and just shopping in general is what is killing me. I canceled all my streams. I’m living extremely frugally.

You’ve clearly done you’re research with this vid. It’s much more accurate than a lot of analysis we get in Australia, where we seem to be talking about everything but the root causes which you’ve outlined here very clearly. We have a collective delusion in this country. I would only add that Australian housing is known also very attractive as a vehicle for money laundering due to lax oversight.

Left Australia in 2015 to live in Bali. I bought a 2.5 acre coffee farm in 2020 for AUD$50,000 that produces $3-4k ler year in produce. The mountain view is simply gorgeous. Currently building my dream cabin home and a small restaurant for my wife. Add $100k. Annual land tax is AUD $50!😂 Never going back to Oz.

The way I see it, leaving Australia is the best solution. I struggled for 10 years with minimum income and poor working conditions on top of limited opportunities here with the dream of achieving a good life here. Legally, immigrated here as a skilled worker. But, it seems that as much as iconic, this country looks in front of the world. The government literally has no idea here on good governance. Australians have so racist attitudes towards immigrants. And what's worst is it is impossible to live the Australian dream here. Can be bloody costly. Best is building working skills here and going back to my country or elsewhere...

what a well made video mate, your channel is gonna be hella succesful

Civil disobedience in Australia should be a moral obligation .

As young Australian, watching our real GDP per capita stagnate for the last 10 years really doesn’t surprise me. In my workplace there are no shortage of extremely talented young men hungry to succeed; but are stuck in jobs where productivity is not rewarded, wage growth is suppressed, and opportunities are given to those who tick a box for an assortment of diversity metrics rather than on the basis of merit. Generally speaking; the end result is an unmotivated and dissatisfied workforce who in monetary terms fall further and further behind the corporate elite every day. The saddest part is that instead of addressing productivity issues and numerous cultural issues that now plague our large firms. The corporate playbook seems to be; hire 15 cheap temporary visa holders to bump up the numbers which has the added benefit of suppressing wages growth, and it takes opportunities away from locals who have so much more to give.

This channel is definitely going to blow up!

As a 33 year old Melbournian this is depressing. We’ve been looking at properties to buy and it’s going to be incredibly hard without parental assistance. Negative gearing has always shit me to tears. I remember when renting in Sydney for a short time out west, it was always interesting to see that mortgage repayments were almost the same as rent, but not enough people were able to save for a deposit, so the rental prices remained high and very lucrative for a lower socio economic market who could only just scrape the money for rent. Good analysis!