Your Thoughts on The Rental Crisis?

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  Gros21 on 20/10/2022 - 13:11

  +1

  look the issue is everybody want to live in the CBD or has high expectations living in the same quality of housing they were brought up in not reliseing it has taken there parents xx years to get to that point.

  land near the CBD in every x\city has teh same issue, how many people complaining either have a new phone or drivoing a car under 5 years old.
  Build costs have skyrocketed and hence prices have gone up its simple supply and demand.

  Landlords are entitled to get market rate from there investments. Im sure many people here selling a car would as for post covid prices not pre covid prices.

  Yes it makes it damm hard i agree but they either need to move to a less desirable area or raise there budget.

  This prolly hits hardest for 18-30 year olds who are just starting there careers everyone lese should be up there.

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  tonka on 21/10/2022 - 04:23

  +1

  There has always been a rental crisis. In that our population grows and increases competition for established or desirable areas.
  People have always needed to adjust were they live to where they could afford.
  Every hard luck rental crisis story I see, is someone wanting to live in an area outside of their means. (Often expecting to be subsidized by tax payers who can't afford to live there themselves).

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  jaysee2211 on 23/12/2022 - 15:56

  +2

  Rents are going up a lot, across urbanised Australia, and there seems to be no end in sight.

  I think Australia's quality of life and earning potential are part of the story. I've spent time in a few different countries, including Vietnam, the UK, Spain, the US. It's really hard to beat Australia.

  • Relatively safe neighbourhoods and relatively effective policing
  • Very high quality public transport (especially in Sydney and Melbourne, but almost everywhere really)
  • Temperate and warm climates (in many ways even extreme heat is preferable to extreme cold that you get in places like Canada; at least your mobility isn't restricted by ice and snow).
  • Geopolitically/militarily safe relative to much of the rest of the world
  • English-speaking, one of the the best languages for business
  • High salaries, so that even after the high tax, you ultimately still end up richer
  • Relatively stable financial and political system (look at recent scandals in the UK or the January riots in the US for comparison…)

  I could go on…

  How many countries on Earth enjoy these benefits? On an absolute basis, of course, you could disagree with any of the above points. But on a relative, please find me another country that does even one of them better than Australia, let alone all.

  So I think we are in a privileged geographic location, and naturally, that makes the land appreciate in price.

  Ultimately Australians will have to make an admittedly tough choice:

  Are the benefits of living here (listed above) worth the cost of paying higher rents (including longer working hours, lower spending, slower wealth accumulation, etc)?

  If you're willing to be flexible and forego some benefits, there are many countries offering cheaper rent and/or higher salaries where you could immigrate to for a better life.

  For example:
  * US - higher salary, lower taxes, cheaper real estate … but minimal social safety net and poor facilities/infrastructure
  * Singapore - same salary, lower taxes, same real estate, more culturally integrated/unified
  * Indonesia - lower salary, lower taxes, cheaper real estate, but very poor facilities/infrastructure
  * Canada - same salary, same taxes, slightly cheaper real estate, decent infrastructure, but freezing cold half the year
  * UK - same salary, same taxes, more expensive and smaller dwellings, good infrastructure, not as nice weather

  It all depends on what you want and what you're willing to give up.

  Welcome to the challenging 2020s!

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    pogichinoy on 05/01/2023 - 10:55

    +2

    Could not have said it better myself, bravo!

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