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Blogging from Sydney | Australia
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Thursday
Jan252018

Time up for the great Australian property dream?

I use the AFR iPad app for the free stories, because I choose not to pay for such luxuries as newspapers until I can afford my own dwelling (so ironic that it is my understanding that the AFR is owned by Fairfax media who also owns the Domain group).

Today brings a good piece from Patrick Commins:

A generational jam

...

The idea that one generation's property riches have come at the expense of the next generation's ability to fulfil the traditional Aussie dream of home ownership is not likely to go away. Many of those who feel locked out of the market will be hoping for a property correction big enough to give them an entree. So far at least, the signs of an imminent bust appear remote, and property investors unwilling to sell.

Absolutely, because it's true. I am one living it hopping from AirBnB to AirBnB because of the many failures at many levels of Australian government to provide affordable shelter, a cornerstone of Maslow's hierarchy of needs, for its citizens.

Let the property market crash and burn

I actually feel more strongly than that - let the property market crash and burn - because markets (like the property one) are merely an aggregate of the supply and demand forces prevalent within them. Good thing I'd never be open to being radicalized (I'd kill myself first) and would rather go to a place in the world that actually cares about its citizens.

In that sense, while I have a social network who in general apart from my dad would have voted for Hillary, I believe Trump (if he lets me in) would be a far greater ally to me in the land of the free, home to the brave.

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