Let me be clear then.
Everyone should be able to buy a house.
Investors shouldn't get preference over a old Pensioner or a new Family.
Prices should NEVER be 12x your annual salary.
They used to be 4x.
Prices should fall.
Nothing should go up 300% and not correct.
Nothing should go up forever unchecked either.
Not really that hard or big of an ask either.
No that's not my opinion.
The problem is wages haven't kept up with inflation, especially home inflation.
Home prices are up 300% in 5 years, wages didn't move that much.
Buying a home in 1990 cost x4 your annual wages. Now it's x12.
That is broken and hurts old pensioners, and young people trying to have somewhere to live.
Having a roof over your head isn't the same as buying a supermarket? or Medical company? Having a place to be safe and secure it a basic need.
I blame Labour terrible economic policy, and ridiculous immigration more than anything.
@betterfuture73@ausstockchick Do builders or supermarket owners live there?
Do people need to buy a supermarket to have somewhere to live? Ridiculous 😂 try again
You get me wrong.
I don't have a problem with investors, i am one myself.
But, prices up 300% in 5 years isn't heslthy or reasonable. If you think it is, then you're selfish or delusional.
These prices will fall, and the market will continue reset, as markets do. It's a good thing.
My argument is, why should people be getting rich on something when the next generation can't afford it, when there's a massive shortage of it, and when people are becoming homeless because of it.
I'm no saying people can't own more than 1 home.
In 1990s, it was 4x your wages to buy one.
Now, it's 12x your annual wages. How is that right?
So now a young couple buys a piece of shit house at 1 million, the market goes down, they're negative equity over 200k. It's terrible.
@betterfuture73@ausstockchick How does that even compare? Flawed logic
You don't need to go into 1 million + debt for 30 years doing any of those things. Literally doesn't make any sense
@quxiaoyin But how close are Chinese open source to Fable type performance? I'd happily ditch American models for Chinese once i can get that real high end performance i need