What Has Happened to Australia's Economy

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Interesting that such a under populated country like Australia and an over populated country like the UK are experiencing much the same problems….

9:17 Sydney and Melbourne are three times less densely populated than London and 10 times less than Metro Paris to maintain this Suburban lifestyle planning permissions for many new homes are not being granted When you prioritize parking over people you get people living in parking lots, aka car parks.

Australia and Canada have long been discussing the issue of housing; how come no one is talking about regulation? When will these countries discover that what's behind this whole mess is the idea that everyone is going to live in suburban housing with all the rights to "peace and silence"? Don't get me wrong, I love suburban housing and all, but it just doesn't fit anymore. Developers could fix the issue, but these countries are going to look more like Europe than the USA, which is not that bad after all.

Another interesting reason for falling productivity is the way in which productivity is measured in the mining sector. Productivity is generally measured in terms of growth in units of output, so if the price of a commodity increases productivity won't increase as the workers are still producing the same output of that commodity. However at the same time the higher commodity price also encourages opening of less potentially productive mines, as although these mines may require more inputs to produce the same output with a higher commodity price it can be justified.

14:31 the reality is that these issues have been growing in Australia for decades and have been consistently ignored by multiple governments on both sides of the political Spectrum. It's the driving public's fault. they don't want to get out of their cars and they don't want crowded streets.

I'm an Australian living abroad and feel like I can't really move back because there's no way I'll buy property and battling with 100+ other people to try and rent a specific place seems too daunting. I'm sad because I miss the culture and beaches. Guess it's no longer 'the lucky country'.

Australia period of reliant to China as major supplier of raw materials had ended . The coming economic difficulty for Australia has just started and it will not be pretty and prosperity like previous 40 years

We took on 750 thousand during covid in the middle of a housing crises

Labor government. Spending other people's money like teenagers with a credit card.

The line at the end about immigration throws me off. Clearly it’s not the “sole” issue. Anyone claiming it is Can be written off and ignored. However, let’s not act like it’s not a significant factor. When you import foreigners, you effectively export the housing they’ll use and the jobs they’ll work to pay for them. That’s not up for debate. They don’t bring houses with them. I’m all for legal immigration, but the way it’s treated as a godsend by a significant portion of the population is genuinely, genuinely worrying. It’s a band-aid, and our unwillingness to peak under it is going to cause immense problems.

It has and never will be a case of “not enough homes” the fundamental issue is overtaxation and unbalanced migration. There is a balancing act required between allowing the right type of skilled migration to occur balanced with suitable and nice home building. Successive governments have failed to realise this in order to achieve short term votes. Building a suburb takes multiple government terms and no politician can be bothered thinking more than a couple months away when they actually need to consider what the country should look like in decades to come. The second issue is over taxation. You take too much of peoples money for vanity short term projects and you get where Australia is now. If you leave people alone, take only enough for infrastructure you get where Australia was in the late 1990’s!

This video is equally fitting if you remove all mentioning of Australia and plug in Canada. Intriguing to know why. The bright side perhaps is this is why Hugh Jackman and Ryan Reynolds seem to be a good match.

The beginning of the housing crisis started with the Howard government. We were enjoying the 90s mining boom. Instead of investing in Australia's future the government offered tax cut especially negative gearing on housing. This meant tax payers where assisting people to purchase 2nd and 3rd homes. It had nothing to do with immigrants. Immigrants are just an easy target rather than dealing with the actual cause. Australia needs to get smarter, not own more houses and education is a mess. Today uni students can expect to graduate with mortgage size education debts! How is this supposed to make a better future?

1870's immigrants were house building wizards known as Italians in Australia, now its ahhhh uber drivers lmao

1:33 that's the train station from my home town. emerald qld.

Don't be too native that migrants not the cause. Most students come to Australia to study degre have strong family support. The degree costs about $200k alone. Rich asian families love to send their children to Australia. I met several rich students their families have lots of businesses. If you are attracting global wealth, then the local people will need to compat with the rich from the globe. This is how Hong Kong, UK, Canada become. Everyone maximize their debt in order to get into the market. This is destroying the society. My suggestion is to stop the game of auction. Set an upper limit and do the lucky draw. Sorry I am not local Australian, but just upset to see how it falls back

Don't know where you got the inflation figures from but the ABS web site states, "Annual CPI inflation was 3.6 per cent in the March 2024 quarter, lower than the 4.1 per cent annual rise in the previous quarter. This marks the fifth consecutive quarter of lower annual inflation since the peak of 7.8 per cent in the December 2022 quarter."

Where will businesses get money to invest in equipment, when investors pile into housing?

Downplaying immigration is either naïve or disingenuous, match the numbers coming from the sub-continent to Australia and Canada with dates of the housing crisis and overall economic decline.