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StackSats.IO 1y ago

The maths on an average Sydney house mortgage - $2,240 per week in repayments is top 10% of all households income and that would consume their entire take home pay with nothing left for food or bills.

This is not remotely sustainable.

#AUStriches are in a crazy bubble that the government will do anything to prop up rather than face an electorate of angry naive Boomers whose wealth would be erased if the bubble bursts.

We can’t upset the naive generation - too bad if young people have no tether to the country and no prospects of economic mobility, Boomers will lose their shit and destroy whichever political party reks them at the ballot box so best we just keep on ponziing! https://v.nostr.build/gL36.mp4 nostr:note1r6nvp7v23tlkzdwvtw2tslw4zen6eun6hzx28kmjwr0v86trvhdqugyg5a

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captjack 🏴‍☠️✨💜 1y ago

Real-estate is special asset class case in any country - local gov get - land/re tax hence it can never fall beyond a certain level

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StackSats.IO 1y ago

Yes but this only works until it doesn’t. For prices to remain high new buyers are needed and we’re now at a point where no-one can afford to be a buyer so the pool of liquidity on the demand side shrinks as prices rise until there are no buyers left and then it bursts

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Low Information Voter 1y ago

nostr:nevent1qqsvfv9tt4tl2a7x7h02f5qqyt7tekkqga03vukqyctkzm2e4ya32kqpzpmhxue69uhkummnw3ezuamfdejsygxavex4usqkgvage45lqpdwzjqgqs630zd4nhj67p38dhn9vv7nrypsgqqqqqqsgassw8

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StackSats.IO 1y ago

Lol thats pretty crazy.

Leftists love to point out that 🇦🇺 has relatively lower debt to GDP than other countries and survived the GFC “without austerity” which is because they don’t understand our market is in fact dominated by household debt rather than gov.

A factor of 5 on housing seems nuts but NZ is proof we can still go further!

Genuinely expecting a government house buying program at some point, like what QLD has been doing buying hotels and aged care facilities but shifted to all housing purely to prop up sellers.

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Low Information Voter 1y ago

Truth.

"Lemon Socialism is Best Capitalism! Dear Leader will buy up rat-trap rentals, waste money and... make them worse. Vote 1 Dear Leader's party!"

And there are four major parties each capable of doing this, or at least of promising to do so.

Number Go Up meets The Announcable. Made for Boomer TV.

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StackSats.IO 1y ago

Mortgage Mate™️

Our policy will ensure home owners protect the value of their assets with our government guaranteeing current market rate purchases on all houses in Australia.

All houses purchased will be administered by the Australian Equitable Housing Department, a new department with 50,000 staff to oversee the distribution of shelter to Aussies in need with a focus on access for First Nations people past, present and emerging, LGBTQIA+, disabled, women, and of course immigrants.

This landmark policy will free up availability in the rental market which currently sits at a world record low 1% vacancy rate, reducing cost of living pressures on young Australians in particular, whilst facilitating a rise in overseas immigration to 1 million next year with this additional housing capacity coming online thanks to our government.

Simply present any purchase offer at your nearest licensed real estate agents who are authorised to beat that price by 10% (their commission for managing the sector), and they’ll send you government dollarydoos to your bank account for the title.

Vote 1 Greens

Vote 1 Teals

Vote 1 Labor

Vote 1 LNP