It’s interesting listening to the media and first home buyers hyperventilating over rising house prices but blaming it on low interest rates, investors, and negative gearing is just complete garbage! People in our society have become so conceited and self-righteous they really think government should roll out the red carpet directly to their inner city trellis for half the going market rate.
Instead, what these people should be doing is saving their money buying in the outer suburbs (like most other people) and build their wealth slowly. But oh no, these people want everything today and because they are used to getting all they want right from private school through to university and slotted into their professional employment, it’s too much beyond them to be seen living where the peasants do.
Suburb branding is something I’ve seen too often it’s sickening but it’s rife in our ever growing keeping up with the Jones’ envious pathetic world. People talk about suburbs like they talk about other brand names (such as Nike thongs) and if you don’t live in a good brand then you’re on the outer in your social circles.
And, it’s often the outer suburbs that have the “bad” name for nothing else except it’s not within 5 kms of the CBD. Obsessiveness over being within walking distance of the city or being able to see the city lights from your inner city deck just shows how crazy most people are and is the only reason why city real estate is so expensive.
City centric is no understatement… If they knew what other Australians living in the outer burbs, satellite towns, and country areas truly thought of these narcissists they would be horrified. Although, what the plebs think probably isn’t a concern for them because they are too far up each other’s backsides (literally) namedropping about the celebrity living three doors down as they try to portray they’re all important socialites bumping Champaign glasses together and eating organic salmon rocket rolls for starters.
I have no sympathy for the affluent greenie first home buyer screaming fowl that their 1.5 million dollar city dream is just slightly out of reach, whilst most people in the rest of Australia haven’t seen a significant house rise in close to 13 years, in fact, many dwellings have dropped in value outside of the capital cities.
Home owners and small investors in the outer suburbs and country areas have seen virtually no return on their properties, limited capital gain, and are still suffering through the supposedly “ended” GFC. Lower interest rates is hardly cutting it for these people because quite frankly interest rates are not low enough and the Reserve Back missed a trick by not going lower during the GFC and staying lower.
Also, government policy Australia wide to stop the “urban crawl” (in vouge about 15 years ago) was another stupid debate and initiative aimed at decreasing local council administration costs by reducing or deterring the development of new outer suburbs. Unfortunately, all this did was curb construction growth, stifle jobs, push up inner city prices and lead to a housing shortage crises overall.
Over the past three years many governments realised this massive lack of judgement and have tried to reverse the damage by announcing more outer and regional centre developments, however, ramping these projects up is painfully slow.
The damage had been done and such wisdom from governments and green groups to build up and not out has proved to be nothing but wishful thinking based on emotive speculation instead of fact. Now, we have the lucky elitist sitting pretty in their constantly appreciating inner city houses, the jealous twenty or thirty something’s wanting what they can’t have or afford, and then the whole rest of Australia wondering why their land isn’t worth the miserable mortgage they pay to keep it!
Yet, media groups, political commentators, and out of touch economists dominate the conversation demanding interest rates are too low and it’s the international investors who are pushing prices up. There’s only one thing that pushes prices up and that’s demand and international investors wouldn’t be hitting our inner city domestic property market if the locals didn’t create the perfect conditions in the first place.
Thankfully, the Reserve Bank hasn’t listened to the calls to rise rates and have kept them stable and even recently cut them. This is the right move and hopefully rates go even lower and remain low for an extended period, in turn, relieving pressure from the average Australian household.
What Local, State, and Federal governments should do is decentralise that’s right DECENTRALISE and take the sting out of the big cities. Incentives should be offered to entice some companies and businesses to locate away from the CBD.
If we could relocate or encourage new big employers to make their base outside of the capitals we’d see less strain on city house prices and less congestion on the main arterials because more people would live closer to where their employment is and this would be a good thing. Big government departments could move also and this would promote new growth in the poorer outer suburbs or smaller towns.
There will always be people wanting to live in the inner city. But, if we could seduce more people out of the city and back to the surrounding areas, even regional, we could see a fairer distribution of wealth, a better standard of living for everyone, much needed infrastructure/growth, and at the same time reduce the mounting pressure on the capitals.
Being city centric is killing our country and even dividing it. How reporters and top economists can’t see past their harbor views is unbelievable and it shows the corruptness of our society. They want to blame things like low interest rates, investors, and mum’s and dad’s negative geared property, for high city real estate prices when none of these affect prices at all and it’s those people with their incessant infatuation to live within the city limits that is the main cause for sky rocketing prices.
Personally, I’m hoping inner city prices keep rising faster than ever until they get to a point where people come to their senses and start buying back out in the real world. Who knows, the once infatuated with the city type narcissist might turn into a down to earth and satisfied outer suburb dweller – for the good of our society we can only hope…
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Politics, News, TV, & Radio Low Interest Rates Don’t Cause High Home Prices City Centric Narcissists Do
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