House prices
He'll be right, he knows some of my skills already. His workmates, I dunno so much.
seems even the real estate agents have belatedly found some much needed integrity...
Aussie real estate agents have spoken out.
— Ben Fordham Live (@BenFordhamLive) November 10, 2023
They have lifted the lid on cashed-up Chinese buyers.
Hear some of their UNBELIEVABLE stories...
🎧https://t.co/531D68mWta🎧 pic.twitter.com/ziSKn8aB9h
how the fuck can labor continue to do this shit with a clear consciene?
simba wrote:Cant for the life of me understand why the labour party has got to flood the country with migrants.....
whats the main goal here ,anyone know?
they obviously think the 'skills shortage' gave them enough cover to return to their obvious ieological position / obsession...
I'm calling it now...
a one term labor government
even with dutton as the alternative
as unfuckingbelievable as that is...
I reckon it's a given now
I hope you don’t think that the LNP are any better.
AndyM wrote:I hope you don’t think that the LNP are any better.
He has to be on the sauce Andy
they're definitely not better, especially as they are atm...
but my 'feels' from the electorate is labor has done their dash
morrison was a compulsive liar, a criminal, and the most nauseating salesman of nauseating salesmen possible...
but at least you knew where you stood
labor's lies are of the most nefarious in nature... bait n switch n blatant bullshit...
people like that less
we're in the age of resentment... and there's lots to resent about modern labor...
they're a bunch of lying sell out cunts
and, to be perfectly honest, I am struggling to find a single thing they have gotten right since taking office...
dutton being even more unpalateble than a stinking turdy tony abbott can only go so far
sypkan wrote:and, to be perfectly honest, I am struggling to find a single thing they have gotten right since taking office...
dutton being even more unpalateble than a stinking turdy tony abbott can only go so far
Settle down there. What about this?
https://www.theguardian.com/australia-news/2023/nov/10/australia-to-offe...
you asking me or the electorate?
cos the electorate says a firm... yeh nah...
especially on the back of 500mil for a png rugby grant...
rugby...
ffs!
cos that's really addressing the issues in png!!
Png issues? Yeah short and fickle surf season for sure
sypkan wrote:they're definitely not better, especially as they are atm...
but my 'feels' from the electorate is labor has done their dash
morrison was a compulsive liar, a criminal, and the most nauseating salesman of nauseating salesmen possible...
but at least you knew where you stood
labor's lies are of the most nefarious in nature... bait n switch n blatant bullshit...
people like that less
we're in the age of resentment... and there's lots to resent about modern labor...
they're a bunch of lying sell out cunts
Piss 'em both off.
This country keeps bleating on about diversity, I really would like to see it in parliament.
GuySmiley wrote:Png issues? Yeah short and fickle surf season for sure
really?
that's all you've got?
that's even more pathetic than your 1 item desperation list of labor achievments..
they definitely both need to go andym...
and there's only one way to achieve that
seriously the evacuated desert creek bed that is the lib's talent pool is both astounding and concerning...
but labor are so hopelessly hopeless, that's what we're gonna get
they cannot possibly recover from this low with the inflation / immigration / housing crisis disaster that is on the horizon...
it's already here, and they just keep throwing on the petrol...
their arrogance, and just plain rude detachment they are displaying about their immigration bait n switch really is difficult to stomach
ffs, even labor stooge economists are openly saying we're fucked
You’re such a crybaby of a revolutionary sypkan
and you are the stoogy-est of stoogy non revolutionaries...
such a typical ps boomer
just too bloody comfortable!
You need to explain how you expect 30 years of the dominant economic policies that the country has been subjected to being turned around in the first year and half of a new government comrade, coz that’s what you’re whining about
AndyM wrote:Although seldom discussed, population joins monetary and fiscal policy as one of the big three economic levers.
Immigration has transformed Australia into the successful multicultural society it is today.
Rapid population growth has made our houses more valuable and enabled our businesses to make larger profits by creating a bigger market.
Yet population growth incurs costs and has masked falling productivity growth alongside heightened pressure on key services and rapid inflation of property prices.
This has undermined living standards and fuelled the current rental and housing crisis.
Supply cannot readily keep pace with Australia’s current population trajectory. Interestingly enough, it was the period of low immigration during COVID-19 that finally enabled wage growth to pick-up, rents to fall and unemployment to hit record lows![6]We need to bring population policy to the forefront of policy debate and understand that it is not a limitless panacea for economic prosperity but a policy tool which must be carefully managed in the interests of the population at large.
https://www.sydney.edu.au/business/news-and-events/news/2023/08/07/popul....
Brilliant post! We need you in Canberra!!
nice try at deflection...
again...
but that's not what Im talking about at all
Im talking about a labor party that took 'cost of living' to an election, promised to take 100s of $$ of people's bills, then increased them by 1000's, because they were too gutless to challenge the gas cartels - very lnp of them...
a party that promised a 'full' covid inquiry, then disarmed it to the point of pathetic - to protect their mates...
a party that promised to 'not go woke', then couldn't be fucked explaining themselves - so reverted back to being a bunch of condescending woke wankers...
a party that promised to return traditional immigration levels of 150 000 a year - then within one year!! ...bumped it up closer to 750 000!!!
what a record...
that last one's gotta be a record!!
for bullshitting and sleight of hand...
they promised transparency and integrity... but operate in misinformation and bait n switch....
bullshit!!
it's an impressive record frownyman...
as you say, all in just a year and half!
setting records all around it would seem...
but yeh... all's good for you and your mates...
you go champ
keep batting mate... for your bunch of sell out lying cunts!
Sypkan, Why do think Labor has reverted to these immigration levels? I don’t like it one bit. A simpleton like me just sees this as increasing inflation. Increasing demand for housing and property prices. Increasing inflation again. Increasing demand for products and food. Etc etc etc etc. You seem to be on the pulse.
who knows seeds, nothing rational can possibly justify such a disgusting turaround on a 'core promise'
one can only assume they freaked out
I think it was andym that pointed out wage increases only came about due to covid. and if you think back, hospitality and the like industries were operating part time due to staff shortages
but even this cannot explain such a radical turnaround
I guess the self interest of house prices plays a role, but as you say, all this just feeds more inflation longer term and puts pressure on struggling services like hospital queues...
which in turn will put more pessure on inflation... amd round and round it goes again...
there's got to be something deeper going on
maybe the frown can let us in on the inner wisdoms of the labor party?
because, it all just appears literally insane atm...
I reckon higher education is a big driver and a strong lobby. Easiest way to bail out pathetic uni business model is by ramping up immigration.
flollo wrote:I reckon higher education is a big driver and a strong lobby. Easiest way to bail out pathetic uni business model is by ramping up immigration.
Definitely a factor plus the labour shortages, plus to put a floor under the economy late in the cycle, plus stimulate the building industry which has had a number of failures, plus build the labour voting base.
The AFR headline:
"Why Australia needs millions more people – and is getting there fast"
No lack of fans for lots of migrants.
The downsides are sort of spread and suffered unequally across regions, suburbs and socioeconomic groups.
Canberra is just peachy.
And the, oh so important, go to benefit all the politicians quote is "all those wonderful restaurants and exotic foods" new cultures offer. All the problems are so they can buy nice souvlakis. Maybe they could buy a few cook books instead?
immigration...u folks downunder are living in a bubble, blind to what's happening everywhere...just come on over to the land of the free and look at our immigration problem...it's called reparations, punishment and revenge driven by the progressives:
In recent years it has become clear that there is a war going on: a war on the West. This is not like earlier wars, where armies clash and victors are declared. It is a cultural war, and it is being waged remorselessly against all the roots of the Western tradition and against everything good that the Western tradition has produced.
At first, this was hard to discern. Many of us sensed that something was wrong. We wondered why one-sided arguments kept being made and why unfair claims kept being leveled. But we did not realize the full scale of what was being attempted. Not least because even the language of ideas was corrupted. Words no longer meant what they had until recently meant.
People began to talk of “equality,” but they did not seem to care about equal rights. They talked of “anti-racism,” but they sounded deeply racist. They spoke of “justice,” but they seemed to mean “revenge.”
It is only in recent years, when the fruits of this movement have come into plain sight, that its scale has become clear. There is an assault going on against everything to do with the Western world—its past, present, and future. Part of that process is that we have become locked in a cycle of unending punishment. With no serious effort at (or even consideration for) its alleviation.
In the last decade, I grappled my own way toward understanding this. In 2017, with The Strange Death of Europe, I addressed one aspect of it, which was the changes brought about in the West by mass migration. It had seemed to me in the years when I covered the immigration question that something deeper was going on. As I stood on the shores of the Greek and Italian islands, watching the boats come in and mingling in the migrant camps that sprang up in major cities, I saw up close the consequences of the developing world moving into the developed world. I never blamed any migrant for wanting to make that journey. I had been to many of the countries from which the migrants were fleeing. Whether the migrants were fleeing war or (as in the majority of cases) economic deprivation, they were doing something that was very understandable. What I had a problem with was why the Europeans were allowing this to happen and why they were expected to abolish themselves in order to survive. People talked of Europe’s having a historic debt that legitimized this movement. But even those who argued this failed to address where the limit to this movement was.
Would there ever be a moment when this Western “debt” would be repaid? Because it seemed that every year the debt was not being paid down but was increasing.
I also began to notice that the same story was playing out across every country that counted as Western. In each of them, the justifications given for allowing this movement of people were the same, despite their very different geographical positions. The United States has for years had its own migration challenge, principally at its southern border. As I traveled throughout America, I heard the same arguments there as I heard back home in Britain and in Europe. A similar type of politician and other public figures kept explaining to the American people why their borders should be lax or entirely porous. As in Europe, there were powerful individuals and entities claiming that the only countries that were civilized were those that let the world in. It was the same in Canada. And it was the same on the other side of the world in Australia. Everywhere, societies that counted as “Western” (that is, European countries or countries descended from European civilization) experienced the same pattern of arguments. Nowhere that wasn’t Western got any such treatment.
Only the Western countries, spread across three continents, were told constantly that in order to have any legitimacy at all—to be even considered decent—they should swiftly and fundamentally alter their demographic makeup. The vision of the twenty-first century appeared to be that China would be allowed to remain China, the various countries of the Far and Middle East and Africa should be allowed—indeed expected—to remain as they were, or even return to something they may have once been. But the countries identifiable as the countries of “The West” were expected to become something else or lose all legitimacy. Of course, countries and states have the right to change. Over time a certain amount of change is inevitable. But there seemed something loaded in what was going on: something unbalanced and off-kilter. The arguments were being made not out of love for the countries in question but out of a barely disguised loathing for them. In the eyes of many people, not least within their own populations, these countries appeared to have done something wrong. Something for which they must atone. The West was the problem. The dissolving of the West was a solution.
A telling line from the above article from GR is:
"Would there ever be a moment when this Western “debt” would be repaid? Because it seemed that every year the debt was not being paid down but was increasing."
Self inflicted debt fueled by a cult of guilt.
Egypt, Rome etc. were deeply exploitative but amazing.
I was visiting a very asthetically pleasing leafy, long established park yesterday, with manicured landscape, ponds and fountains and thinking that in the modern sense this is an example of colonial oppression and subjugation of the environment to western ideals.
Whereas the reality is that it was beautiful and soothing and something to be proud of that a (flawed) society still had the ability to create it.
Guilt is totally overdone. It can always be conjured up in large amounts in almost any situation of advantage relative to others if you want to. But that is unhealthy personally and for society.
Australia's good fortune can easily be flattened in a generation. The US has become 3rd worldish in many areas in less than that through excess immigration.
Bus them all to Canberra?
Get ready for the Big Bang!!
https://www.afr.com/policy/economy/australia-records-biggest-income-decl...
Albo has a plan.
A referendum, overseas trips, aukus, immigration flood, PNG rugby, energy "policy", , ...
Albo has to be the most travelled pm in history for the short amount of time hes been in office.......
donweather wrote:Get ready for the Big Bang!!
https://www.afr.com/policy/economy/australia-records-biggest-income-decl...
The fam were in Myer dropping some coin today and the place was packed, the spending was big. Party on down this way.
sypkan][quote=simba wrote:they obviously think the 'skills shortage' gave them enough cover to return to their obvious ieological position / obsession...
I'm calling it now...
a one term labor government
even with dutton as the alternative
as unfuckingbelievable as that is...
I reckon it's a given now
#DuttonGovernment
And since we've got political on the immigration theme, this needs to be known:
"Zero-net immigration throughout COVID illustrated how putting the brakes on migration reduced congestion on our roads and allowed Government services to focus on Australians. One Nation will extend its zero-net migration policy and focus on permitting only highly skilled migrants from culturally cohesive countries into Australia. Migrants must demonstrate a sound level of English for assimilation purposes. Education courses in Australian universities should not be used as a backdoor to immigrate to Australia."
velocityjohnno][quote=sypkan wrote:simba wrote:they obviously think the 'skills shortage' gave them enough cover to return to their obvious ieological position / obsession...
I'm calling it now...
a one term labor government
even with dutton as the alternative
as unfuckingbelievable as that is...
I reckon it's a given now
#DuttonGovernment
Wont happen if you dont include Gough Whitlam the last time there was a one term government was in 1929
indo-dreaming][quote=velocityjohnno wrote:sypkan wrote:simba wrote:they obviously think the 'skills shortage' gave them enough cover to return to their obvious ieological position / obsession...
I'm calling it now...
a one term labor government
even with dutton as the alternative
as unfuckingbelievable as that is...
I reckon it's a given now
#DuttonGovernment
Wont happen if you dont include Gough Whitlam the last time there was a one term government was in 1929
Whitlam won two elections: 72 and 74.
A Salty Dog][quote=indo-dreaming wrote:velocityjohnno wrote:sypkan wrote:simba wrote:they obviously think the 'skills shortage' gave them enough cover to return to their obvious ieological position / obsession...
I'm calling it now...
a one term labor government
even with dutton as the alternative
as unfuckingbelievable as that is...
I reckon it's a given now
#DuttonGovernment
Wont happen if you dont include Gough Whitlam the last time there was a one term government was in 1929
Whitlam won two elections: 72 and 74.
Argh you are correct.
velocityjohnno wrote:And since we've got political on the immigration theme, this needs to be known:
"Zero-net immigration throughout COVID illustrated how putting the brakes on migration reduced congestion on our roads and allowed Government services to focus on Australians. One Nation will extend its zero-net migration policy and focus on permitting only highly skilled migrants from culturally cohesive countries into Australia. Migrants must demonstrate a sound level of English for assimilation purposes. Education courses in Australian universities should not be used as a backdoor to immigrate to Australia."
This approach is gaining a huge momentum in Europe. I can see the same happening here.
indo-dreaming][quote=A Salty Dog wrote:indo-dreaming wrote:velocityjohnno wrote:sypkan wrote:simba wrote:they obviously think the 'skills shortage' gave them enough cover to return to their obvious ieological position / obsession...
I'm calling it now...
a one term labor government
even with dutton as the alternative
as unfuckingbelievable as that is...
I reckon it's a given now
#DuttonGovernment
Wont happen if you dont include Gough Whitlam the last time there was a one term government was in 1929
Whitlam won two elections: 72 and 74.
Argh you are correct.
I know, I was there.
velocityjohnno wrote:donweather wrote:Get ready for the Big Bang!!
https://www.afr.com/policy/economy/australia-records-biggest-income-decl...
The fam were in Myer dropping some coin today and the place was packed, the spending was big. Party on down this way.
It’s because that one metric doesn’t mean much. We also have the highest average net wealth per citizen in the world. And we love variable interest rates for a reason - refinance. Redraws, refinance, there’s plenty to tap into. Fuck, I even closed my HECS through a mortgage refinance. Saved 2% in interest, I’ll rather give it to the bank then have the government ripping me off. It’s a sad state of affairs when I have to say that.
flollo wrote:velocityjohnno wrote:And since we've got political on the immigration theme, this needs to be known:
"Zero-net immigration throughout COVID illustrated how putting the brakes on migration reduced congestion on our roads and allowed Government services to focus on Australians. One Nation will extend its zero-net migration policy and focus on permitting only highly skilled migrants from culturally cohesive countries into Australia. Migrants must demonstrate a sound level of English for assimilation purposes. Education courses in Australian universities should not be used as a backdoor to immigrate to Australia."
This approach is gaining a huge momentum in Europe. I can see the same happening here.
“Culturally cohesive countries “ sounds a bit racist to me.
Why has Dutton and the LNP not called this out?
flollo wrote:velocityjohnno wrote:donweather wrote:Get ready for the Big Bang!!
https://www.afr.com/policy/economy/australia-records-biggest-income-decl...
The fam were in Myer dropping some coin today and the place was packed, the spending was big. Party on down this way.
It’s because that one metric doesn’t mean much. We also have the highest average net wealth per citizen in the world. And we love variable interest rates for a reason - refinance. Redraws, refinance, there’s plenty to tap into. Fuck, I even closed my HECS through a mortgage refinance. Saved 2% in interest, I’ll rather give it to the bank then have the government ripping me off. It’s a sad state of affairs when I have to say that.
Well at least the government were prepared to finance your education.
As for banks, well that's another story. During a difficult period, I needed some help from the bank but despite having 75% equity in my property, the bank refused a small increase to my Line of Credit. Manager told me, with a beaming smile on her face, she would if necessary, happily sell my house.
Never expect a bank to do you any favours.
Probably been covered here but assuming >50% of Homeowners fixed their home loan at 5 years at around 2% back in mid 2021 then these interest rates are not impacting many homeowners at all at least not until 2026 anyhow. I'd argue that landlords who have fixed rates from back then and are raising rents are being a little unfair and perhaps very greedy.
Less of course is said of small businesses who took/take out huge loans to finance themselves; now thats a tough game.
Anyone who bought in 2021 at stupid prices and didnt fix and borrowed 80% will be getting smashed. They wont be in Myer shopping.
indo-dreaming wrote:Wont happen if you dont include Gough Whitlam the last time there was a one term government was in 1929
I'm having a lend when I do the # thing, but you know what nothing would surprise me these days
flollo wrote:velocityjohnno wrote:donweather wrote:Get ready for the Big Bang!!
https://www.afr.com/policy/economy/australia-records-biggest-income-decl...
The fam were in Myer dropping some coin today and the place was packed, the spending was big. Party on down this way.
It’s because that one metric doesn’t mean much. We also have the highest average net wealth per citizen in the world. And we love variable interest rates for a reason - refinance. Redraws, refinance, there’s plenty to tap into. Fuck, I even closed my HECS through a mortgage refinance. Saved 2% in interest, I’ll rather give it to the bank then have the government ripping me off. It’s a sad state of affairs when I have to say that.
I know Flollo it's anecdata, so a single perspective picture. The Ms filled me in on what it was like, guys being dragged in and buying expensive clothes (wives leading the way), kids buying expensive clothes under mum's directions ('wear these Tommy ones around the house')... She noted with satisfaction that the young tradie was actually clearly the best dressed man going into buying clothes (he's got the Beckham style sense) and the other fellas looked... like me, trackies and low key! More anecdata, a car I was interested in, older, second hand, one of the last Aussie wagons with low kms, they priced it nearly 25-30% above the going rate ('tell him he's dreaming') and it was gone first weekend. This place is booming.
monkeyboy wrote:Probably been covered here but assuming >50% of Homeowners fixed their home loan at 5 years at around 2% back in mid 2021 then these interest rates are not impacting many homeowners at all at least not until 2026 anyhow. I'd argue that landlords who have fixed rates from back then and are raising rents are being a little unfair and perhaps very greedy.
Less of course is said of small businesses who took/take out huge loans to finance themselves; now thats a tough game.
Anyone who bought in 2021 at stupid prices and didnt fix and borrowed 80% will be getting smashed. They wont be in Myer shopping.
I thought most were 2-3 years? The RBA did some extra facility in covid that guaranteed the banks very cheap access to credit till early '23 too, iirc
velocityjohnno wrote:I thought most were 2-3 years? The RBA did some extra facility in covid that guaranteed the banks very cheap access to credit till early '23 too, iirc
Typically upto 5 years (I remember seeing some for 10 years back in 2006 at around 4.9%).
Here's an article from back then: https://www.abc.net.au/news/2021-04-14/fixed-interest-rates-are-at-recor...
By reference in case anyone things todays rates and loan sizes are abnormal - my first home loan (variable rate) in 1999 was $400k at 5.5%, my next Home loan (a LOC) in 2004 was $700k at 7% (lowest it got before we sold in 2015 was 5.2%).
I have no idea though how much people borrow now but it was a hard slog back then as my salary was about half of today. Just my personal observation, not saying its easy.
indo-dreaming][quote=velocityjohnno wrote:sypkan wrote:simba wrote:they obviously think the 'skills shortage' gave them enough cover to return to their obvious ieological position / obsession...
I'm calling it now...
a one term labor government
even with dutton as the alternative
as unfuckingbelievable as that is...
I reckon it's a given now
#DuttonGovernment
Wont happen if you dont include Gough Whitlam the last time there was a one term government was in 1929
Check this out Indo, ALP analyst on the panel presents stats. Working class is there for the taking if Dutton follows through and ALP neglects. In Voice we learned there are twice as many without tertiary qualification as those with...
GuySmiley wrote:You need to explain how you expect 30 years of the dominant economic policies that the country has been subjected to being turned around in the first year and half of a new government comrade, coz that’s what you’re whining about
That's the big question - to borrow from George Jetson, how do we stop this crazy thing.
Neoliberalism is hegemonic, our entire way of life is predicated on "growth" (despite the fact that in many ways we're going backwards) and as shown in the past, the Australian voting public doesn't appear interested in seriously addressing the root causes of housing inaffordability.
And so Labor are in a bit of a pickle.
But despite making noises about a more materially distributive agenda in 2019, Labor seem to have now gone full tilt the other way.
That's what people have got the shits about.
I don't think people expect things to be turned around in the first year and a half but I think they expect at least a transparent conversation about it, as opposed to going full speed down the path we don't want to go and then trying to obscure it with a game of smoke and mirrors involving the RBA.
As some sort of positive, it seems as though the "if you question immigration, you're racist" narrative seems to have been exposed for the manipulative sham that it is.
"anecdata"
9:30am and my day is made.
Yo Aussies, check it out – the new playbook for the lefties: They're gunnin' full throttle into neoliberalism and immigration, cranking up the inequality, making living costs skyrocket, and housing prices go through the roof, leaving the underprivileged and marginalized folks in the dust. They're doubling down on immigration to bulk up their ethnic voter base. Then they're slicing up society into disadvantgaged groups and playing the identity politics card like it's going out of style. Your 'The Voice' was just the warm-up act!
Yawn...The Great Rest.
House prices - going to go up , down or sideways ?
Opinions and anecdotal stories if you could.
Cheers