The year the Australian dream died...

[InnerVoice]

I'm often calling out the BBC for Australia-bashing but on this occasion I think they're on the money. This disparity of wealth in this country is now quite shocking.

https://www.bbc.com/news/world-australia-67723760

[Marisawright]

33 minutes ago, InnerVoice said:

I'm often calling out the BBC for Australia-bashing but on this occasion I think they're on the money. This disparity of wealth in this country is now quite shocking.

https://www.bbc.com/news/world-australia-67723760

To be fair, the same thing is happening all over the world.   I don't think Australia is faring any worse than anywhere else.   It does seem like a lot of people in other countries think that for some magical reason, Australia has avoided it

[BendigoBoy]

It is getting insane, to be honest.
I've been vehemently anti negative gearing since I learned it was a concept....

...But this year's been surreal.  So much so that the wife and I are currently on the hunt around Melbourne for a decent flat to buy and rent out below market rate.  Won't even make a scratch at a national level, but if we can at least help one soul find a roof over their head and leave them with a bit in their pocket to build up some savings to right foot themselves, we'll feel a little easier.

(Edited to amend lack-of-caffeine-induced typo)

Edited December 28, 2023 by BendigoBoy

[Blue Manna]

3 hours ago, InnerVoice said:

I'm often calling out the BBC for Australia-bashing but on this occasion I think they're on the money. This disparity of wealth in this country is now quite shocking.

https://www.bbc.com/news/world-australia-67723760

Maybe for the next global financial crisis they should let the banks fail, not bail everyone out and let all the prices reset? Maybe, I don't know. I just don't see how this can go on.

[BendigoBoy]

14 minutes ago, Blue Manna said:

Maybe for the next global financial crisis they should let the banks fail, not bail everyone out and let all the prices reset? Maybe, I don't know. I just don't see how this can go on.

They should have done exactly that in 2008.

However, Australia was a different kettle of fish; it was relatively well insulated from the GFC.  And the banks were (and remain) stupendously well capitalised.

[FirstWorldProblems]

3 hours ago, Marisawright said:

To be fair, the same thing is happening all over the world.   I don't think Australia is faring any worse than anywhere else.   It does seem like a lot of people in other countries think that for some magical reason, Australia has avoided it

I think there is one key difference (compared to the U.K. at least) and that is the negative gearing ability. 
 

We visited friends last night who have built a stunning ~$10m Sydney north shore home.  All paid for by having 4 investment properties for over 20 years. 
 

Combined with low interest rates, so long as you could get on the ladder 25 years ago it seems to this overseas observer that it has been very easy to keep drawing down equity and adding another property to your portfolio. 
 

 

[Blue Flu]

Probably last post ,but thought a fitting end to a somewhat turbulent time  on this forum. If at all allowed to be posted of course. Another sound reason to sever ties. 

The Australian dream has been in decline since the eighties. This forum clearly outlines our more recent failings and cover up's. But Australia is the global outliner in the mal Distibution of gains from economic growth in comparison to Europe, UK USA and  even China. 

We are in regression on steroids. We have foreign money from undeclared sources mostly Chinese hovouring up our real estate. Organised crime setting getting ever more entrenched and influential, a drug problem out of all proportion in scope and impact on all levels of society, corruption that really needs to be  tackled, vested interests calling the shots, a press/media too controlled . Less freedom than a number of countries(anyone else find UK more at ease  on matters of critique?)and a very secretive country to boot.  Our location  in the world, and policy changes over this century is highly suggestive to the reasoning of rapid change on many fronts with how our society has and will change. We are increasingly blighted by money and greed and ever declining scruples. This obviously impacts society with each for themselves creating ever more fragmentation within 'society' making for a less caring and self absorbed country. 

Obviously could say more, but largely falling on tin ears I suspect so why bother? Hopefully aspects will force change for the better and we return to becoming a 'more normal' country again , where the betterment of all is the prime focus and not the enrichment of a few and vast wealth for ever fewer. Over and out.  

[InnerVoice]

2 hours ago, FirstWorldProblems said:

I think there is one key difference (compared to the U.K. at least) and that is the negative gearing ability. 
 

We visited friends last night who have built a stunning ~$10m Sydney north shore home.  All paid for by having 4 investment properties for over 20 years. 
 

Combined with low interest rates, so long as you could get on the ladder 25 years ago it seems to this overseas observer that it has been very easy to keep drawing down equity and adding another property to your portfolio. 
 

You're absolutely right, but how unfair is a system that allows one person to gobble up so much property, leading to an over-inflated market, and putting homes out of reach of so many others. I've always felt uncomfortable with just how 'okay' Australians are with this - they just can't wait to get a slice of the pie themselves. They never stop to consider that communities need workers in low-paid jobs - postmen, cleaners and care workers. Where are these people going to live?

[FirstWorldProblems]

12 minutes ago, InnerVoice said:

You're absolutely right, but how unfair is a system that allows one person to gobble up so much property, leading to an over-inflated market, and putting homes out of reach of so many others. I've always felt uncomfortable with just how 'okay' Australians are with this - they just can't wait to get a slice of the pie themselves. They never stop to consider that communities need workers in low-paid jobs - postmen, cleaners and care workers. Where are these people going to live?

It’s awful.  Ruining the basic lives of the many to fuel the greed of the few.  

[BendigoBoy]

4 hours ago, Blue Flu said:

Probably last post ,but thought a fitting end to a somewhat turbulent time  on this forum. If at all allowed to be posted of course. Another sound reason to sever ties. 

The Australian dream has been in decline since the eighties. This forum clearly outlines our more recent failings and cover up's. But Australia is the global outliner in the mal Distibution of gains from economic growth in comparison to Europe, UK USA and  even China. 

We are in regression on steroids. We have foreign money from undeclared sources mostly Chinese hovouring up our real estate. Organised crime setting getting ever more entrenched and influential, a drug problem out of all proportion in scope and impact on all levels of society, corruption that really needs to be  tackled, vested interests calling the shots, a press/media too controlled . Less freedom than a number of countries(anyone else find UK more at ease  on matters of critique?)and a very secretive country to boot.  Our location  in the world, and policy changes over this century is highly suggestive to the reasoning of rapid change on many fronts with how our society has and will change. We are increasingly blighted by money and greed and ever declining scruples. This obviously impacts society with each for themselves creating ever more fragmentation within 'society' making for a less caring and self absorbed country. 

Obviously could say more, but largely falling on tin ears I suspect so why bother? Hopefully aspects will force change for the better and we return to becoming a 'more normal' country again , where the betterment of all is the prime focus and not the enrichment of a few and vast wealth for ever fewer. Over and out.  

I may disagree with you very violently on many fronts; however, on most of what you put here, I entirely agree.

[Toots]

There are over 4,000 people on the waiting list for a council house here in Tasmania.

A new facility for homeless men recently opened at the top of our street. https://www.amhf.org.au/a_look_inside_the_new_men_s_shelter_in_north_west_tasmania

There are also 2 houses in our street for homeless women and their children.  These are temporary accommodations.  There are also plans for more council houses around the town.

[Ben123688]

On 29/12/2023 at 09:15, InnerVoice said:

I'm often calling out the BBC for Australia-bashing but on this occasion I think they're on the money. This disparity of wealth in this country is now quite shocking.

https://www.bbc.com/news/world-australia-67723760

 

On 29/12/2023 at 09:15, InnerVoice said:

I'm often calling out the BBC for Australia-bashing but on this occasion I think they're on the money. This disparity of wealth in this country is now quite shocking.

https://www.bbc.com/news/world-australia-67723760

Do you know how many extremely educated and experienced immigrants are invited over and then forced work as tradies?..You don't have to have post grads degrees and Phds to be a tradie. The govt and most people that I came across here pain stupids. This is a land of low skilled tradies who never have seen the steps of schools let alone college or any degrees

[Ben123688]

Australia is a great country if we dont have so many stupid uneducated politicians and fairly uneducated yet feeling so self important morons

[Toots]

2 hours ago, Ben123688 said:

Australia is a great country if we dont have so many stupid uneducated politicians and fairly uneducated yet feeling so self important morons

I sort of agree with you about the politicians but who are you calling morons?  The politicians or the general public?

 

[Bulya]

2 hours ago, Ben123688 said:

Australia is a great country if we dont have so many stupid uneducated politicians and fairly uneducated yet feeling so self important morons

You haven’t been to Blighty for some time..

[BendigoBoy]

3 hours ago, Ben123688 said:

Australia is a great country if we dont have so many stupid uneducated politicians and fairly uneducated yet feeling so self important morons

Yes, but to be fair, W.A has lots of resources. We're better holding on to them than getting rid of them...