Subnostr

Victoria, which is already in the middle of a rental crisis, is now trying to put a 35m2 minimum size in place for new apartments.

We have so much land that a rental crisis is quite obviously 100% a fabrication of government intervention (the spokeshole in the article blames everyone except gov), and now they want to further restrict the supply of housing by putting a floor in place which will simply make it more unaffordable for those at the lower end of the market.

These socialist do-gooder policies which completely ignore reality in favour of empty platitudes are exacerbating the problems government created in the first place.

#AUStriches are no different to Argentinians voting for the Minister of Economy who hyperinflated the currency to become President. nostr:note169panjahv4zsdp47lghnzxum885squw79p3mw4xr6vum9d5lhrpqx6552n

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Discussion

Luxas 2y ago

My family lives in rural area and they say many native Australians are fighting for rentals against government provided housing for immigration influx from India and then cash-rich Chinese investors buying up the lots and no longer keeping them as rentals. Getting tough out there.

Clarisse Mcclellan_⚡️ 2y ago

You are so right, this is amazing. Out of curiosity, has australia had an economic depression in the past?

Also, if you con invest in RE in one of the Australian states, which would u chose?

StackSats.IO 2y ago

Australia for all intents and purposes hasn’t had a recession since 1991. We entered the GFC with ~18% debt to GDP so Gov just borrowed big to avoid that bubble and printed like maniacs for Covid to avoid the worst of that one.

The average mortgage in Sydney is 12:1 income ratio and 9.5:1 in Melbourne - the USA is at 5:1 and people think housing is unaffordable there. People in the know predicting our bubble burst will be significantly worse than Ireland’s.

I wouldn’t be investing in any RE here. If I absolutely had to then Queensland or WA outside of major centres; only because they’ve got mining revenue so won’t suffer as badly as NSW or VIC which are fully services-based economies who will end up taxing the shit out of property in the coming decades.

Clarisse Mcclellan_⚡️ 2y ago

Dude, everyday discussion with the wife.