WARNING: Australia's Housing Crisis Explained

Why Australia’s Housing Crisis Is A Warning:

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Andrei Jikh
4132 S. Rainbow Blvd # 270
Las Vegas, NV 89103

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*None of this is meant to be construed as investment advice, it's for entertainment purposes only. Links above include affiliate commission or referrals. I'm part of an affiliate network and I receive compensation from partnering websites. The video is accurate as of the posting date but may not be accurate in the future.

[AndreiJikh]

Thanks for the correction! I’ll edit it out shortly (in LA right now) 😅

[joemarasuncion]

Living in Australia, when a popular American youtuber mostly covering American finance talks about Australian housing market, you know it's really f*cked

[p-jaycalabazaron]

Respect to you Andrei for talking about Australian property market. As an Aussie with about 120k yearly income I’m still locked out of the property market which is sad.

[Jgrayfilms]

As an Australian living in Sydney it’s nice to see a big finance influencer such as yourself covering this fiasco 😅

[phil]

Another issue for you to remember, in Australia our fixed interest rate 30 year mortgages are from 1-5 years. We can't get fixed interest rate mortgages for 30 years like you can in the USA.

[aazimmermann]

The housing situation in Australia is depressing, and it's very unpopular to create policies that will solve the problem because those in power and with money own property and ultimately are relying on the values of their properties to continue growing. Even millennials who scrape together a deposit and highly leverage themselves to buy a home become highly reliant on the value of their home/land to appreciate so they can retire in the future.

[arthurwatts]

Every year, we tell ourselves the bubble MUST burst. And every year (the pandemic aside), our beloved leaders find new ways to push up prices and rents. It's a cozy relationship with lenders and a 'profession' that requires less training and accreditation than hairdressing. Little wonder foreign investors are pinching themselves when they see an asset that only goes up in value and a media obsessed with providing free publicity to the whole circus.

[LachL-fo]

Migration is at one of the highest levels ever in Australia. And most of these people get drawn to major city’s. This has significantly increased house pricing. Further to this lots of Chinese park their money in houses in Australia to get it out of China.

[adriancondidorio]

As an Australian, the market here is as bad as it’s made out to be. My fiancé and I had to compete against 50+ people at every inspection we went to, just to secure a single bed apartment that is $800 a week.

For most people that are not born into wealth or do not have parents that will leave them a large nest egg, the concept of stand alone property ownership is almost impossible in metropolitan cities.

This has also been exacerbated by COVID (like most of the western world). Years of incessant money printing with no economic input at all.

To top it off with new migrants still coming in as strong as ever, property prices proceed to climb.

Tough time to be an Aussie.

[zepherco]

Hi Andrei one of the main differences in between the US system of banking and the Australian system is that Australian banks don’t offer fixed home loan rates for the length of your home loan. If you’re lucky you fix your rate for a couple years. There are a lot of people waiting to come off much lower fixed rates and we call this the “mortgage cliff” once we have all loans on the current rates then the economy may start to slow down.

[kidinacage]

The housing crisis in Australia will never be solved while all our politicians are landlords.

[leewright]

I think a large hidden factor is that so many people & organisations in Oz have a vested interest in keeping prices high so there's no real will to solve the problem. The 40% that own don't want to see prices drop. Councils collect rates based on property values & the same with state governments that collect stamp duty based on property value. On top of that supply is greatly restricted by the difficulty of getting building approvals by local councils & residents that lodge objections all the time.

[rebuildingdad]

You are forgetting the massive elephant in the Australian room. And that is unsustainable, unskilled mass immigration to the sum of 600k a year. We simply put dont have houses and apartments for everyone.

[the-sleepy-bear]

This also has a knock on effect of people having kids in their late thirties and even early forties, since they can’t buy a house big enough to raise them until they’re that late in their career.

[dennisblake]

Thanks mate for giving us a bit of coverage on this very serious problem. The homeless crisis is now also completely out of hand.

[johnnydavey]

The newzealanders are gonna be pissed calling Auckland apart of Australia...I say, they should just admit defeat and officially be recognised as an Aussie state...its about time we do that. 😉

[ally-mpcc]

He forgot migration. Which is also driving up the prices here in Australia.

[erwinvillafranca]

hi @Andrei, love your videos and your sleight-of-hand segues

Just know that Auckland is NZ, not Australia.

Keep up the good work!

[Benferdinands]

The issue with Australia is that the government has been importing people from other countries at a record rate in the hope to stop a recession that is now causing supply and demand issues.

[ggilesy]

Hey Andrei
Thanks for covering Australia. 🇦🇺
We've been subbed to your channel for years now. Great to finally hear about though it wasn't in a good light. But yeah, we're all screwed.