House prices are rising faster than people can save. If you earn the average male full time income (more than 80% of people) and started saving 10 years ago, you'd be no closer to buying a house today. It's past time to fix this. @grogsgamut.bsky.social explains. #auspol - ThreadSky

australiainstitute.org.au • 3 days ago

House prices are rising faster than people can save.

If you earn the average male full time income (more than 80% of people) and started saving 10 years ago, you'd be no closer to buying a house today.

It's past time to fix this. @grogsgamut.bsky.social explains. #auspol

Comments

leinsterlad.bsky.social•3 days ago

A very clear example of how inflation devalues money.

The "saving" example here clearly shows just how much your dollar / spending power is devalued each year.

djraison.bsky.social•3 days ago

But why can’t our politicians see this , and act

ericbanana.bsky.social•3 days ago

It’s called the great Australian Dream because you have to be asleep to believe it.

#auspol

k53au.bsky.social•3 days ago

Howard legacy..

nix0008.bsky.social•3 days ago

The rental system has to change so that there are secure long term rentals.

euclidez.bsky.social•2 days ago

So, which cohort has the A$ capacity to borrow more or pay with a suitcase full of dosh, to keep pushing house prices higher?

biged71.bsky.social•3 days ago

been same since howard made changes to make sure it happened

australiainstitute.org.au•3 days ago

“25 years of the tax system incentivising housing speculation through the 50% capital gains discount combined with negative gearing has left Australia with a housing affordability crisis.

“After 25 years, we need to stop doing what isn’t working and start fixing things.”

Read the research:

parahandie.bsky.social•3 days ago

Joe, I think most Australians know where they'd like to shove your lit Havana cigar!

kewpiekat.bsky.social•2 days ago

The policy has had exactly the effect Hockey and Howard wanted - to increase the wealth of the already wealthy and who gives a fuck about anything else … (just like all of their policies) …

mbannantyne.bsky.social•3 days ago

wasn't fathead hockey a fucken idiot

woots2621.bsky.social•3 days ago

Prefab concrete sandwich enables cost effective and energy efficient housing. Also very fire resistant, suits bushfire areas.

jmil4000.bsky.social•3 days ago

Hockey was a treasurer’s nightmare.

chris.bondi.oz.au•3 days ago

And the Howard/Costello team who started this ball rolling. Bizarre that people still think that conservative governments are better economic managers...

beigewash.bsky.social•3 days ago

The lie & inaccurate framing that the "COALition are better economic managers" being accepted into the public discourse as the accepted "truth" is one of the major successes of the conservative cabal information controlling strategy.

THIS is exactly WHY they control the Australian media & narrative

beigewash.bsky.social•3 days ago

If you don't like the facts, create your own.
This is the mantra they work on.

bradbrookjenny.bsky.social•3 days ago

Yes. One of the most puzzling mysteries.

bradbrookjenny.bsky.social•3 days ago

Of course. And that means a government willing to get hammered for putting forward policies to start fixing it, and a population recognising that change has to happen. Nothing ever stays the same. Change is uncomfortable, but essential.

sopraltotude.bsky.social•2 days ago

Exactly. Sadly, we saw some few elections ago that a little bit of scare campaigning by the LNP completely derailed proposed changes. (No thanks to Tim Wilson.)

simongarlick.net•3 days ago

File under "things that will never happen while the Boomer Property Investor Generation remains alive"

bullman53.bsky.social•3 days ago

Just more bad policy from the LNP which disadvantages the average home buyer in favour of their rich property developer mates and other higher income earners. Classic lie of “trickle down economics “ which aids the rich at the expense of the poor and entrenches advantage

tangledsilk.bsky.social•3 days ago

You would really be stuffed if you were female then. 🤷‍♀️

r-maralia.bsky.social•2 days ago

This is demoralizing ..

iamqotl.bsky.social•3 days ago

Multiple property ownership needs to have the ick. As much as big game hunting and going to gentlemen’s clubs has become disgusting in society’s eye.
More than 2 homes incurs eye-wateringly high tax. More than two developments by a corporation incurs eye-watering tax.
Stop this being a “career”.

jenniwilson.bsky.social•2 days ago

This! Crunched the numbers with our son and realised he was going backwards even while saving 30% of his income. It’s completely unattainable without significant help. It can’t continue.

orbitaloasis.bsky.social•3 days ago

What's the word male doing in that sentence?

stringyland.bsky.social•3 days ago

Average male earnings are higher than average female earnings in Australia. They're showing that even on a pretty good income with better than usual saving habits & interest rates, it's still impossible to keep up with the rise in house prices. Will-power won't be enough, we need policy change.

technihilism.bsky.social•3 days ago

distinguishing it from the average female full time income, which is less

pepi-martin.bsky.social•3 days ago

Your recommended solutions are not enough.
This is across Western economies.
https://youtu.be/rAb_p5DCC3E?si=Y9hc_ahuKA3K_0GV

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