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Considering Work from Office is the norm, good jobs that have career growth are largely on the East Coast i.e. Melbs, Sydney. Both are "too expensive" ... so wh

by erklik 3y ago

Considering Work from Office is the norm, good jobs that have career growth are largely on the East Coast i.e. Melbs, Sydney. Both are "too expensive" ... so where else should people move where it's less expensive and they can easily find a job there? I am genuinely curious where you moved. > The thing that strikes me about Australia's property prices are, who will be the generation to pay prices like this again? I personally can't imagine the prices to eventually go anywhere but down. I imagine the opposite. Price will keep going up and up. It's a ponzi scheme, it's literally "too big to fail". The government cannot allow a fall in prices so it will simply never come. Regarding who will pay again? No-one, land will concentrate amongst the few who already own land and can use that equity as leverage, while the rest of us will live via rent. I am 80% sure that most people born after 2000 will never own a home.

api 3y ago
This is why remote work is so important. It’s not about not going to the office. It’s about breaking real estate.
nayuki 3y ago
This is why we must implement a land value tax as Henry George proposed. People should not be able to profit from squatting on / hoarding land.
- applied_heat 3y ago
  Where I live we already have property taxes indexed to the value of the property, and a tax on secondary dwellings that are not rented out.
  - nayuki 3y ago
    The problem with property tax instead of land value tax is that a parking lot operator pays a lot less tax than the 30-storey apartment building next door. This is despite the fact that both plots of land have the same neighborhood amenities and same development potential. See https://www.youtube.com/watch?v=xqQhoZgFZgk https://www.youtube.com/watch?v=xqQhoZgFZgk
mjevans 3y ago
Viva la revolution. Or alternately see the 'homeless' problem in the US which IMO is a combination of lack of mental healthcare, broken or absent social integration and support policies generally, a lack of common space protection laws or enforcement of them, and a failure of civic planning to provide enough places people can afford to call home.
- bugglebeetle 3y ago
  The homeless problem in the US is almost entirely the result of real estate speculation. Housing can’t be both something everyone needs to be able to afford and something that guarantees obscene returns in locations where the vast majority of jobs are located. The two are diametrically opposed. Wealthy liberals don’t want to see their selfishness as the cause of so much the poverty and suffering they see around them, so they invent all kinds of mystifications and exaggerate other factors to claim this isn’t true. But it is.
  - dleeftink 3y ago
    Just to tease out some balanced viewpoints, what kind of mystifications would wealthy conservatives invent as a cause for homelessness?
    - bugglebeetle 3y ago
      Wealthy conservatives in the US largely subscribe to Social Darwinism or something like a Calvinist logic of god having ordained their success. Essentially, “the homeless are homeless because they deserve to be homeless.” It’s self-serving and tautological, but so are most ideologies based around on a defense of the status quo.
    - adventured 3y ago
      By far the worst homelessness problems in the US are all in very blue cities, not red voting areas. It's not even a close comparison, all the worst cities in the US for wealth inequality and homelessness are particularly blue. The dramatic intensity of poverty and murder that deeply blue cities have produced is terrifying, as is the fact that it has continued uninterrupted for so long. At some point someone should start asking some questions. San Francisco has been a microcosm of that severe dysfunction.
friend_and_foe 3y ago
Nothing stops the tide. The pressures of systems like this build up until not even the government can stop it. The biggest dam in the world cannot stop dead in it's tracks even the tiniest trickle of water. Something will give, could be the entire financial system collapses, could be guillotines, but the government is not omnipotent.
- marcosdumay 3y ago
  > Something will give Usually, the government soft-fails through inflation and deflates the bubble.
  - anon1199022 3y ago
    Until their currency collapses. Each nation lost their currency for many times, no exception :)
  - betaby 3y ago
    Not sure. Any historical example for housing specifically.
  - friend_and_foe 3y ago
    But Australia can't do that with their housing market. If they try, prices just go up. Real estate is monetized, people need to park their devaluing dollars somewhere. The more they try, the more they price their own people out of their own country.
    - cwalv 3y ago
      > If they try, prices just go up. It depends on the unit prices are measured in. They may go up, or tread sideways in AUD, but that doesn't mean they're actually appreciating
- pixl97 3y ago
  Even these kind of collapses work out better for the rich than the poor.
AYBABTME 3y ago
Prices will stall and inflation will erode the actual value of real estate.
justinclift 3y ago
> I personally can't imagine the prices to eventually go anywhere but down. People have been saying that for years. It's gotten a lot worse rather than improving though.

by erklik 3y ago

api 3y ago

This is why remote work is so important. It’s not about not going to the office. It’s about breaking real estate.

nayuki 3y ago

This is why we must implement a land value tax as Henry George proposed. People should not be able to profit from squatting on / hoarding land.

applied_heat 3y ago
Where I live we already have property taxes indexed to the value of the property, and a tax on secondary dwellings that are not rented out.
- nayuki 3y ago
  The problem with property tax instead of land value tax is that a parking lot operator pays a lot less tax than the 30-storey apartment building next door. This is despite the fact that both plots of land have the same neighborhood amenities and same development potential. See https://www.youtube.com/watch?v=xqQhoZgFZgk https://www.youtube.com/watch?v=xqQhoZgFZgk

mjevans 3y ago

Viva la revolution. Or alternately see the 'homeless' problem in the US which IMO is a combination of lack of mental healthcare, broken or absent social integration and support policies generally, a lack of common space protection laws or enforcement of them, and a failure of civic planning to provide enough places people can afford to call home.

bugglebeetle 3y ago
The homeless problem in the US is almost entirely the result of real estate speculation. Housing can’t be both something everyone needs to be able to afford and something that guarantees obscene returns in locations where the vast majority of jobs are located. The two are diametrically opposed. Wealthy liberals don’t want to see their selfishness as the cause of so much the poverty and suffering they see around them, so they invent all kinds of mystifications and exaggerate other factors to claim this isn’t true. But it is.
- dleeftink 3y ago
  Just to tease out some balanced viewpoints, what kind of mystifications would wealthy conservatives invent as a cause for homelessness?
  - bugglebeetle 3y ago
    Wealthy conservatives in the US largely subscribe to Social Darwinism or something like a Calvinist logic of god having ordained their success. Essentially, “the homeless are homeless because they deserve to be homeless.” It’s self-serving and tautological, but so are most ideologies based around on a defense of the status quo.
  - adventured 3y ago
    By far the worst homelessness problems in the US are all in very blue cities, not red voting areas. It's not even a close comparison, all the worst cities in the US for wealth inequality and homelessness are particularly blue. The dramatic intensity of poverty and murder that deeply blue cities have produced is terrifying, as is the fact that it has continued uninterrupted for so long. At some point someone should start asking some questions. San Francisco has been a microcosm of that severe dysfunction.

friend_and_foe 3y ago

Nothing stops the tide. The pressures of systems like this build up until not even the government can stop it. The biggest dam in the world cannot stop dead in it's tracks even the tiniest trickle of water. Something will give, could be the entire financial system collapses, could be guillotines, but the government is not omnipotent.

marcosdumay 3y ago
> Something will give Usually, the government soft-fails through inflation and deflates the bubble.
- anon1199022 3y ago
  Until their currency collapses. Each nation lost their currency for many times, no exception :)
- betaby 3y ago
  Not sure. Any historical example for housing specifically.
- friend_and_foe 3y ago
  But Australia can't do that with their housing market. If they try, prices just go up. Real estate is monetized, people need to park their devaluing dollars somewhere. The more they try, the more they price their own people out of their own country.
  - cwalv 3y ago
    > If they try, prices just go up. It depends on the unit prices are measured in. They may go up, or tread sideways in AUD, but that doesn't mean they're actually appreciating
pixl97 3y ago
Even these kind of collapses work out better for the rich than the poor.

AYBABTME 3y ago

Prices will stall and inflation will erode the actual value of real estate.

justinclift 3y ago

> I personally can't imagine the prices to eventually go anywhere but down. People have been saying that for years. It's gotten a lot worse rather than improving though.