The Year the Australian Dream Died (Housing R.I.P)

2023 could go down as the year the Australian Dream of Home Ownership Officially Died. The Australian Housing Market is expensive, broken and unfair - and tragically events during 2023 may have done irreversible damage to Australian Housing which has completed destroyed the Australian Dream of owning your own home.

DISCLAIMER: This video content has been made available for informational and educational purposes only and does NOT in any way constitute financial or investment advice.

#australianrealestate #housingcrisis #housingmarket #bikokonstantinos

[joelG]

Actually, it is not the year of owning your own home dream that died but the dream of finding an affordable rental or even just a rental full stop, that died.

[_permanence]

Greed and selfishness have ruined Australia and NZ. Our grandparents’ generation was much more socially minded and saw houses as homes rather than speculative assets.

[bikokonstantinos]

Do you think the Australian Dream of home ownership has officially died for those who won't inherit property wealth?

[johnwp]

What do you call an Australian with a tent, a new home owner. What do you call an Australia with three tents, a developer.

Shame, shame, shame, all you politicians with investment properties.

[geneshepherd]

They spent 7 million on the Sydney new year's fireworks.
The government has a credit card funded by US.

[PaulDickson]

41, moved home from WA to SA in 2022. Secured a rental for $450per week but got kicked out 9 months later cause owner wanted to sell $750k house for $1.1 million. 37 days and that house is still on market. Us well we were forced to move back in with family spare room until we can find an affordable home. If I stayed in Perth my $350 per week rental is now $550 per week

[thomasarmstrong]

Very annoying missing out on houses then seeing them come up for lease 2 months later. Then our pre-approval goes down making it harder for us, while people who don't seem to be affected by rate rises keep pushing prices higher. Meanwhile we're picking up the tax bill for all the tax concessions these investors are getting. Australia is just broken, politicians should not be allowed to invest in property and set policies which just make themselves richer. We pay them enough already.

[aleksandarverardi]

Excellent video...the truth is painful...I was trying to buy a small unit / 1 bedroom in Melbourne, and I just quit in 2023...(first home buyer)...Pathetic and insane taxes, strata fees, bin collection, and gas cooking penalty fines imposed by the Victorian government, crazy banking rates, difficult to get a home loan, with a stable job, bla bla bla...Life became miserable with no future in Australia...So What is the point to work your ass off to try to get a home, and you see that is IMPOSSIBLE in Australia...My young friends in Melbourne have just LEFT Australia with no intentions to return, young and educated people...just QUIT the Australian housing nightmare and insane cost of living...Where I do live (renting a small room in a shared house, luck to have a roof over my head!!!) in the Eastern suburbs of Melbourne...so many houses are on sale close by..houses are empty or foreclosed by banks..(so many people owning million dollars to banks)..and thousand of homes vanished from the rental market in a couple of months..people just want of get out of here...Cycle of debt, poverty, and homeless in hitting Australia...at this stage the solution will be the international airport to move overseas...very sad...Australia is loosing skilled people and brains..a young generation feel lost and depressed...and you do NOT see any tangible plan from the government to tackle the housing crisis, massive debt, speculation, etc...the list goes on..GOD HELP US...🙏

[sirdekkar]

The dream will remain a dream. The bubble is so big now that the government will do everything possible to prevent it from bursting. If the property bubble burst, it would be the last thing to fail in the AU economy. Everything else around it would fail beforehand.

[utube]

Pop the immigration cork :-) because politicians own plenty houses and they smile with glee as they double in value every 6 years. Also negative gearing, what an amazing thing that is for the rich.

[xchazz]

A sharp increase in corporate, banking and financial capture, a sharp increase in government corruption, a sharp decrease in social integrity and standards of living.
Work hard get screwed harder, inherit wealth and suck the hard workers dry.
All the incentives are clearly in the right direction, what a beautiful system we live in.

[pancake]

My advice to any younger people is to leave this country. You have no financial future here.

[motorheadbeany]

It really isnt cheaper living regionally. 1st of all jobs in regional areas pay less on average. Rates, travell and services are generally more expensive and get into a town with 100, 000 + population you may only save $100, 000 or so on a house. Hardly a saving.

[mayormccheese]

Coober Pedy is looking better every year. I think I'll end up building my dream house with a shovel.

[shanerichardson]

Thanks Biko; I started late then pretty much part time majority of working life. Now not working due to health but still have that dream of having my own home. It might be dead but I'll hold onto it.

[thylacine]

Theres heaps of rentals coming onto the market now, theres heaps in my area, alot of people are just not paying high rents....went from 6 to 76 rentals in twelve months...

[mohhingman]

What we need is a good financial crisis, where all the banks can't lend. It will put a damper on the crazy speculation. It will affect everybody but it will at least mess things up and hopefully allow future generations to buy their own home.

[MB-ymwl]

Australia is going straight to the great reset

[becsterbrisbane]

Wait, we get a song AND a joke? You're too good to us, Biko- happy new year!

[cranny]

Thanks Biko, we need more people like you speaking out. Our political class are a bunch of cowards, domestically and internationally.