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Soon only rich people will be able to afford to live in our capital cities; Transmutation Acknowledged
Topic Started: 26 Sep 2015, 03:19 PM (2,471 Views)
Black Panther
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Now reality sets in and the main stream acknowledge that the TRANSMUTATION I predicted is real.

How foolish you bears have been.

Quote:
 
RICH PEOPLE ONLY: Property prices are tearing cities apart

SOON only rich people will be able to afford to live in our capital cities, says a leading academic. We need to do something about our property boom before it’s too late.

AUSTRALIAN capital cities have sold out to the elite and cashed in the values that have sustained them, according leading Sydney University academic, Professor Patrick Phibbs.

“The problem is we’re essentially sleepwalking our way to very unequal cities and unless we do something about it soon it might be too late,” the Chair of Urban and Regional Planning and policy said following Sydney University’s Festival of Urbanism earlier this month.

“We’ve taken our eye off looking out for people on low to moderate incomes and we’re basically just pandering to an elite, and I think that’s a risk. Do we want a fair city, do we want an equal city, or do we just want a city where people talk about how much money they made off their million dollar apartment?”

The problem, according to Professor Phibbs, is the way Australians, and much of the world, sees housing today. “We’ve seen the complete pivot of housing from being a place where you live, as a form of shelter, to essentially housing as a wealth generator,” he says, “People have got to look a bit beyond their own personal gain. Sure you’ve made $500,000 on your house but is that really a good thing?”

With the mining boom fading, Australia’s economy is now leaning on an exploding property market for support.

As the Australian reported recently, a boom in apartment buildings around the nation has been responsible for a fifth of Australia’s economic growth over the past two years. A push that has been fuelled by a six billion dollar contribution from China, along with other foreign investors, to the Australian property market. Some of whom have used sophisticated trust structures to get around foreign investment laws.

The Abbott government, who oversaw the recent boom, failed to rein in the runaway housing market. Instead they encouraged it, despite persistent howls over housing affordability in the nation’s major cities. Today it’s left us with some of the least affordable housing on earth, particularly in Sydney where house prices are now 13 times the average annual wage.

“Sydneysiders have always prided themselves on being reasonably egalitarian and sticking up for the battler, but I think essentially we’ve stabbed the battler right in the wallet over the last ten years,” said Professor Phibbs.

Around the country, meanwhile, the economy is showing sign of weakening, with an inflated rental and housing market distorting living costs; unemployment on the rise; wage increases struggling to keep pace with inflation; and Australia’s net disposable income per head — the best measure of living standards — dropping by 1.2 per cent.

The losers in this scenario are pretty much everyone, says Professor Phibbs, though particularly the current generation of young Australians.

“In the current property boom there is a huge group of losers and the biggest, in a general sense, are young people. If they want to buy a house in Sydney, which a lot do, they essentially have to climb a cliff and I just think that’s completely out of order,” he said, adding, “If we’ve managed to make what was an affordable suburb to where houses are worth a million dollars, we’re just headed in the wrong direction.”

“If you’re saying Sydney is a place where kids can grow up and have opportunities, we’re essentially saying, nup, if you’ve bloody got a lot of cash you can stay here,” he says.

http://www.news.com.au/lifestyle/home/rich-people-only-how-the-property-boom-is-tearing-our-cities-apart/story-fnet0iz7-1227544914248
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createdby
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Black Panther
26 Sep 2015, 03:19 PM
Now reality sets in and the main stream acknowledge that the TRANSMUTATION I predicted is real.

How foolish you bears have been.

In a year, this thread is gun be good like you're 'China Rising' thread.

Oh yes, is gun b good. :tu:

Good for a fucking laugh.
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Loki
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Yes, yes. The rich people will fix their own toilets, and cook their own food, and make their own lattes.

:lol


“Talk sense to a fool and he calls you foolish.” - Euripides
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The Whole Truth
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Loki
26 Sep 2015, 07:16 PM
Yes, yes. The rich people will fix their own toilets, and cook their own food, and make their own lattes.

:lol
lol. It's not a matter of being rich anyway, many people living in Australian's cities can't even buy the weekly shopping without their credit cards now. It's a matter of being willing to take on a mountains of debt repayments over a period no one really thinks about. Years ago the paying out of the mortgage was a big event, today people don't even consider it. They seem quite happy paying interest to banks for their entire working lives. Very strange?
"Panics do not destroy capital; they merely reveal the extent to which it has been previously destroyed by its betrayal into hopelessly unproductive works." John Stuart Mill
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newjez
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Loki
26 Sep 2015, 07:16 PM
Yes, yes. The rich people will fix their own toilets, and cook their own food, and make their own lattes.

:lol
Or pay alot more to do it, or get immigrants who are prepared to live thirty in a house to do it.
Whenever you have an argument with someone, there comes a moment where you must ask yourself, whatever your political persuasion, 'am I the Nazi?'
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Jimbo
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Black Panther
26 Sep 2015, 03:19 PM
Now reality sets in and the main stream acknowledge that the TRANSMUTATION I predicted is real.

How foolish you bears have been.

Every (very wishy washy) prediction you have made has gone wrong.

You predicted Scottish independence (started a thread about it).

You claimed to have predicted the Greek referendum outcome without actually posting anything until after the result was announced?

You claimed that resources prices would continue to boom (just last year before they crashed and burned).

Give it up Mike. Go and see a doctor. They must have a pill for whatever it is you are suffering from.


newjez
26 Sep 2015, 07:31 PM
Or pay alot more to do it, or get immigrants who are prepared to live thirty in a house to do it.
Ah yes, London.
Edited by Jimbo, 26 Sep 2015, 07:34 PM.
Matthew, 30 Jan 2016, 09:21 AM Your simplistic view is so flawed it is not worth debating. The current oversupply will be swallowed in 12 months. By the time dumb shits like you realise this prices will already be :?: rising.
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Chris
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Loki
26 Sep 2015, 07:16 PM
Yes, yes. The rich people will fix their own toilets, and cook their own food, and make their own lattes.

:lol
??? Plumbers, chefs and baristas all earn more than I do, most of them are the rich buying these joints!!!
Chris
26 Sep 2015, 07:42 PM
??? Plumbers, chefs and baristas all earn more than I do, most of them are the rich buying these joints!!!
Anyway, this ideal BP has that he will be living in affluent Utopia is great but in reality the upper class would be fundamentally imprisoning themselves in the smallest possible geographic location surrounded by the 'filth' they are trying to keep out.

Social unrest can really fuck up your plans BP, but alas probably not in your life time so carry on. It is an eventuality though, the system is designed for failure.
Edited by Chris, 26 Sep 2015, 07:47 PM.
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Trollie
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Australian median house price is up more than 11% yoy.

No wonder you guys are crying into your cornflakes.
Edited by Trollie, 26 Sep 2015, 08:27 PM.
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Loki
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Chris
26 Sep 2015, 07:42 PM
??? Plumbers, chefs and baristas all earn more than I do,
I'm sorry to hear that. They don't earn much, and they are certainly not rich.
Quote:
 
most of them are the rich buying these joints!!!
Untrue, and in some ways offensive.
Quote:
 
Anyway, this ideal BP has that he will be living in affluent Utopia is great but in reality the upper class would be fundamentally imprisoning themselves in the smallest possible geographic location surrounded by the 'filth' they are trying to keep out.
Black Pussy is obviously delusional, but given the size of bet he has made based on his delusions, it is probably necessary to keep his neuroses in check.

newjez
26 Sep 2015, 07:31 PM
Or pay alot more to do it, or get immigrants who are prepared to live thirty in a house to do it.
When my in-laws lived in Hong Kong they employed a maid. The maid lived in the house, ate their food, and was paid a meagre salary. But the salary was only meagre in Hong Kong. In Indonesia, where she was from, she owned 3 houses.

I sometime wondered if it would get to the stage where we see that in Australia, but I think labour laws and a general distaste for the idea of maids (because we are so modern and egalitarian) would prevent it. At one time, remittances from maids and construction workers made up a significant component of the GDP of the Philippines.
Edited by Loki, 26 Sep 2015, 08:38 PM.


“Talk sense to a fool and he calls you foolish.” - Euripides
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herbie
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Chris
26 Sep 2015, 07:42 PM
??? Plumbers, chefs and baristas all earn more than I do, most of them are the rich buying these joints!!!

Anyway, this ideal BP has that he will be living in affluent Utopia is great but in reality the upper class would be fundamentally imprisoning themselves in the smallest possible geographic location surrounded by the 'filth' they are trying to keep out.

Social unrest can really fuck up your plans BP, but alas probably not in your life time so carry on. It is an eventuality though, the system is designed for failure.
History would tend to suggest that 'the filth' (to use your term!) don't take up arms and get themselves shot by their government attempting to overthrow the establishment simply because they can't purchase their own little home within a convenient commute of a major CBD and all its entertainments and attractions Chris.

Not saying it couldn't happen(?), but just saying that history would seem to suggest it takes a bit more rather deep and genuine 'deprivation' than that to make it happen is all.

PS: The outraged 'victim' hyperbole wears a bit thin after a while - If you figure your life is fucked, do something yourself to fix your fucked life. Unless you are Loki maybe? With his problems just being pretty much unfixable by himself from what he's said.
A Professional Demographer to an amateur demographer: "negative natural increase will never outweigh the positive net migration"
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