#propertybubble — Public Fediverse posts
Live and recent posts from across the Fediverse tagged #propertybubble, aggregated by home.social.
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Australia's greatest economic miracle:
Buy house. Bulldoze house. Sell dirt. Pocket $248,000.
No new home. No new productivity.No new business. No value created whatsoever.
Yet we're told soaring property prices are a sign of a strong economy.
If this doesn't prove Australia's property market is a giant Ponzi scheme designed by developers and property owning politicians, nothing will.
Young Australians are being locked out of housing so land speculators can get rich flipping empty blocks.#auspol #housingcrisis #propertybubble #australia
https://www.domain.com.au/news/east-brisbane-house-knockdown-block-sale-248k-profit-1523587/
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AustralianSuper CEO Paul Schroder drops the quiet part out loud: calls for cheaper homes are basically 'nonsense' because our entire banking system — and economy — is underpinned by ever-inflating house prices.
We've spent 25 years pouring all our extra wealth into real estate instead of productive investment. The 'house' always wins.
Time for a serious rethink? Or just more super-funded band-aids?#HousingCrisis #AusPol #EconomicMyth #Superannuation #PropertyBubble
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Why are houses unaffordable from London to Sydney?
It’s not just “supply & demand” — it’s the rocket fuel of bank-created mortgage credit.
Steve Keen uses long-run BIS data to show how real house prices were flat for a century, then exploded after the 1980s when banks unleashed mortgage lending. The real driver? Not the level of debt, but the change in the change of mortgage debt — the credit impulse.#HousingCrisis #PrivateDebt #CreditBubble #SteveKeen #Economics #HousePrices #DebtDynamics #Macroprudential #Inequality #PropertyBubble
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Real estate agents are rarely considered the victim. But when it comes to the behemoths of property listings in Australia, estate agents have faced price gouging to the tune of a 5000% price rise over the last 15 years for a 'premium' listing on the market-dominant platform. Without paying for that 'premium' service, properties tend to disappear from search results.
Since the behemoth in question is a subsidiary of (and substantially bankrolling) Australia's dominant media company (i.e. #Murdoch), with a market capitalisation greater than supermarket giant #Coles, here is yet another reason the political duopoly are reluctant to touch structural #TaxJustice issues such as #NegativeGearing or #CapitalGainsTax.
#RealEstate #WealthInequality #Auspol #AusMedia #PriceGouging #HousingJustice #HousingPolicy #housing #PropertyBubble #CostOfLiving #MurdochMedia #MurdochPress
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No winners. #MascotTowers apartment owner-occupiers offered sale to third party consortium. #ausproperty #australia #Property #propertylobby #scam #propertybubble
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This is very worrying... #ccp #propertybubble and sounds like it's going to be the people who suffer:
https://invidious.snopyta.org/watch?v=YBBnQmRcRI4 or https://www.youtube.com/watch?v=YBBnQmRcRI4 -
DID YOU KNOW: #TheOlympics is a #gentrifiers wet-dream and does more to hurt people and entrench privilege and access, than most other global events.
Its not something we can sustain, especially not in its current form.
#repression #policeViolence #bigProperty #bigRealEstate #housing #housePrices #propertyBubble #speculators #speculation #travel #extremeTravel
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Australia's #construction cartel strikes again.
Remember when everyone poured scorn on #China for their #wasteful construction to boost #GDP?
Well #Australia is following in China's footsteps due to #covid19, offering $150,000 grants to already-wealthy #landowners to #renovate properties.
Because we need to keep inflating that #propertyBubble - and #houses in Australia are just not big enough.
Renovation is fine, but not #moneyPrinting and #taxes to support excesses!