[Jungle]

(11-30-2015 06:47 PM)Rush87 Wrote:  

You'll also find that most families in Australia purchased their real estate when it was the equivalent of around one years wages.

As a result many live at home or purely rent.

Hit the nail on the head. Young people are simply priced out. They may end up buying, but it'll be likely far away from the jobs, the CBD and trendy areas.

(11-30-2015 10:50 PM)worldtraveler3 Wrote:  

Why has Australian property got expensive ?
I thought it was a huge country with only 20m population. Land is supposed to be cheap and abundant. Plenty of spaces to build not like Asian cities such as Hong Kong.

I could go on at great length about this but I'll try to be brief. Yes, there's plenty of land and a small population.... however:

1. Infrastructure = Our leaders lack vision and foresight. They have followed the American model of urban sprawl instead of the European model of public transport, cycling and smart cities.

2. Immigration = We have a very high immigration quota. Essentially both sides of government aim to create what they coined a "Big Australia". We are projected to reach 39.7m by 2055 according to the ABS. When new Australians arrive, they primarily settle in the major cities, further exacerbating the crowded centres and pushing property prices up. (https://theconversation.com/population-g...ions-38490)

3. Negative gearing = Investors can deduct their mortgage repayments etc from their tax.

4. Foreign Property Ownership = Foreigners can own property in Aus, Chinese citizens in particular feel their money is safer investing in Aus than at home. This year they invested $12.4 billion AUD. (http://www.abc.net.au/news/2015-10-12/se...na/6841810)

5. Urbanisation = Aus is one of the most urbanised countries in the world e.g. it doesn't make sense for most people to live in woop woop as there are few amenities and jobs there. Also bear in mind, Aus is the dryest continent in the world and a lot of the interior of the country is infertile, arid and barren soil.(https://en.wikipedia.org/wiki/Urbanization_by_country)

A solution to increase the population of country areas and also make it a viable option for home buyers would be to build high-speed rail especially between Sydney and Melb (and Brissy) so people could commute into the cities... but to be honest this will probably take our leaders 100 years to build because they are useless =)

[El Chinito loco]

^^^ In addition to all that don't forget the commodities boom. Australia is a big time exporter of minerals and metals. China is not far away and a lot of fat cats in Australia have had insane amounts of cash thrown at them. This type of wealth leads to inflation of property and goods /services even if it's only a certain percentage of people getting rich in the country.

[StrikeBack]

If you look at the list of Australian billionaires, you'll find that most are in real estate or mining. Only a couple like Packer and Kogan are not.

[betterasianbrother]

(11-30-2015 06:46 PM)Green-On-GO Wrote:  

Anyway my mate just got back from Asia.He echos this thread.He's the Ryan Gosling type I've talked about before.He loves the Asian girls.He is no bogan.
I laughed when he told me how he got dirty looks from white Aussie chicks because he was with local chicks.He was really pissed off about it.."Who do these fat bitches think they are?" He said.
And "No wonder guys were going off with Asians"

Speaking of white Aussie chicks with no chill (start at 2:00):

[RawGod]

Real estate in Australia is cutthroat and win-lose. If you didn't buy in a desirable location pre-2000 and won't inherit, you are basically locked out of the "Aussie dream" of a nice house that's not way out in the exurbs. Many people commute for hours from the suburbs to the Sydney or Melbourne CBDs to pay off their huge mortgages. And it's all about the status that your postcode brings.

Add to that the politically correct and HR-ruled corporate environment, the masculine women, and as has been mentioned, highly competitive male population where being tall, muscular and with a fixed empty grin is a minimum, and you'll see why it's not for everyone.

[Jesus Christ]

The white women in Asia are extremely aggressive and it's difficult to turn down such an easy proposition.

[Saweeep]

(12-02-2015 04:39 AM)Jesus Christ Wrote:  

The white women in Asia are extremely aggressive and it's difficult to turn down such an easy proposition.

Really?

They're literally invisible to me when in Asia. Invisible.

[Jesus Christ]

(12-02-2015 08:38 AM)CrashBangWallop Wrote:  

(12-02-2015 04:39 AM)Jesus Christ Wrote:  

The white women in Asia are extremely aggressive and it's difficult to turn down such an easy proposition.

Really?

They're literally invisible to me when in Asia. Invisible.

They will fucking throw themselves at you. I've never seen anything quite like it. There is no game involved, they will do the escalating, pulling you home etc. I have never seen such aggression. Those are probably the most desperate women on the face of the Earth.

[worldtraveler3]

Is this hostel girls in places like Thailand? or local white expats working there.

[Jesus Christ]

(12-02-2015 09:27 AM)worldtraveler3 Wrote:  

Is this hostel girls in places like Thailand? or local white expats working there.

Both. Any Western woman in Asia is desperate. The travellers want to get laid, and it certainly isn't going to be with no Asian boy. The expats are even more desperate as they get fundamentally nothing.

[Roardog]

(12-01-2015 06:07 AM)Jungle Wrote:  

(11-30-2015 06:47 PM)Rush87 Wrote:  

You'll also find that most families in Australia purchased their real estate when it was the equivalent of around one years wages.

As a result many live at home or purely rent.

Hit the nail on the head. Young people are simply priced out. They may end up buying, but it'll be likely far away from the jobs, the CBD and trendy areas.

(11-30-2015 10:50 PM)worldtraveler3 Wrote:  

Why has Australian property got expensive ?
I thought it was a huge country with only 20m population. Land is supposed to be cheap and abundant. Plenty of spaces to build not like Asian cities such as Hong Kong.

5. Urbanisation = Aus is one of the most urbanised countries in the world e.g. it doesn't make sense for most people to live in woop woop as there are few amenities and jobs there. Also bear in mind, Aus is the dryest continent in the world and a lot of the interior of the country is infertile, arid and barren soil.(https://en.wikipedia.org/wiki/Urbanization_by_country)

Urbanisation is what has caused most of it. Agriculture, what Australia was built on, has gone from being very labour intensive to huge areas of land being able to be looked after by 1 or 2 people with contractors hired for busy times such as harvesting or shearing. Like when any major employer declines it's not just the direct jobs but all the associated jobs that go as well i.e. mechanic, shop keeper, baker, farm supplier, etc.
This caused the populations of rural towns to decline as there was no work and the population of cities to swell as people moved there for employment. Most rural towns are ghosts of their former selves.
There are very few jobs in non-capital city areas so everyone moves to the city where the jobs are causing pressure on infrastructure and housing prices.

[Rush87]

I've long since given up on Australian property [In favour of overseas investment] BUT…

…There will be opportunities in the not to distant future. Australia has been notoriously poor with regards to our transportation industry but it would be wise to watch transit developments such as the implementation of high speed trains.

Currently [For Example] you can find two bedroom, unobstructed coastal properties 2.5 hours up or down the coast from Sydney from 220k. When the government eventually gets their act together and implements faster travel routes that will be an opportunity to triple an investment.

In the mid 90s a similar spike in South Western property prices occurred with the development of a motorway cutting transit times from 2.5 hours to 30 minutes.

Realistically however - Property prices in Sydney are a complete lock out. Even at a low interest rate the standard two bedroom apartment within 40 minutes of the city will run over $800 per week in mortgage repayments.

[KYT88]

(12-02-2015 09:32 AM)Jesus Christ Wrote:  

The travellers want to get laid, and it certainly isn't going to be with no Asian boy.

You clearly haven't experienced Engine Room in Bali, full of white girls looking for local beach boys.

[El Chinito loco]

Let's say if aussie men do finally wake up it will be an interesting dynamic if SEA women become a serious rival for white aussie women. With the proximity of Australia to asia I imagine it would only take a couple generations to become very mixed asian...so <50 years conservatively speaking.

In a way I can see where that taboo aspect of interracial dating originated because Australia has a particular geographic and cultural isolation that's a bit unique. However, on the other hand this type of taboo has also fostered an environment with monstrous entitled women that look like fat albino whale sharks.

[zatara]

The Aussie property boom does have one major positive for a lot of people - inheritance. I have mates in Sydney from fairly middle class families, who's parents all bought homes in the late 80s. The homes are now worth millions of dollars. As soon as their parents die off, these guys are looking at inheriting $2million+ each (even splitting the house worth with siblings). That's enough to retire on at 40 years old if they move somewhere with reasonable living costs.

[Rush87]

(12-03-2015 07:42 AM)zatara Wrote:  

The Aussie property boom does have one major positive for a lot of people - inheritance. I have mates in Sydney from fairly middle class families, who's parents all bought homes in the late 80s. The homes are now worth millions of dollars. As soon as their parents die off, these guys are looking at inheriting $2million+ each (even splitting the house worth with siblings). That's enough to retire on at 40 years old if they move somewhere with reasonable living costs.

This exists right now. I went to boarding school in Sydney and many of the kids come from wealth stemming from the Australian property boom.

The parents work basic blue collar jobs whilst living in properties anywhere from 2 million to 10 million plus.

In many cases the parents down sized - Generated instant millions in expendable income - Bought their kids an apartment and the kids now live the good life.

Many of the guys I've been to school with have leveraged that wealth into a dream lifestyle. They own an apartment - They earn $500 per week from room mates. They add another stereotypical money burner such as a coffee shop for extra income - If they can be bothered they might do a little personal training or surf instructing on the side - Spend their days travelling and socialising all the while knowing when the time comes they will inherit millions lol.

[worldtraveler3]

500 a week just having some cool roommates? I would do that for sure

[VincentVinturi]

haha this is the thread that keeps on giving.

[Que enspastic]

Property boom will kill Australian society long term. The broken link between effort and reward, risk and ambition, will destroy all sense of entrepreneuralism and people who are smart and rich but unable to afford property will just fly the country. Meanwhile your idiot millionaire landlords will leech the country of its capitalist spirit and replace it with some demented form of feudalism, all culture eviscerated, and the hope of the next generations destroyed in its infancy. Inherit or GTFO.

[Rush87]

(12-04-2015 03:43 PM)Que enspastic Wrote:  

Property boom will kill Australian society long term. The broken link between effort and reward, risk and ambition, will destroy all sense of entrepreneuralism and people who are smart and rich but unable to afford property will just fly the country. Meanwhile your idiot millionaire landlords will leech the country of its capitalist spirit and replace it with some demented form of feudalism, all culture eviscerated, and the hope of the next generations destroyed in its infancy. Inherit or GTFO.

The socialist under current is taking over much of the entrpreneurialism that once existed within Australia. We are creeping closer and closer towards a collectivist mentality where by the voice of the uneducated masses steer the ship in a direction which has an overriding goal of 'equality'. Not just in regards to opportunity but in regards to outcome. Any and all encouragement to excel is being replaced with the absolution of responsibility and the safety net of the collective leech tank.

[Que enspastic]

I don't live in Australia anymore but it seems to me that the country is moving away from equality, not towards it. Part of this is due to property speculation, globalisation, the tyranny of demographics in democracy, and automation of jobs. This is not just a problem for Australia but most of the Western world, particularly the Anglo countries.

Australia's treatment of property as a speculative asset class offends both right and left wing. It galls the right because there is no point trying to run a business anymore when landlordism and rent seeking dominates to the extent it now does in Sydney (see the historical clash between merchants and anti-progressive landed gentry over centuries in England and France). It riles the left because there is little equality of opportunity if you are born to parents who are not property owners.

I'd be supportive of discussing the merits of a Land Value Tax which was voiced as the best system of taxation by Adam Smith, Churchill, Milton Friedman and also favourably supported in The Henry Tax Review. It would eliminate all the bullshit taxes like stamp duty and high income taxes and let industrious, talented people prosper.