The housing bubble experienced across developed economies is
arguable between many. This is particularly the case here in Australia where
the disagreement is often between generations (boomers vs. X, Y gen.) or
dependent on owning your own home renting from the bank and renting. The
topic is now being discussed in the mainstream media with limited effect and
identification of the reasons behind it e.g:
- Lowest interest rates in history
- Negative gearing & self managed superfund investment
- First home buyer grants
- Inter-generational debt e.g. parents assisting with deposits/guarantor on loans
- Restrictive planning systems
- Sham regulation e.g. FIRB & APRA
- Importation of demand via immigration
- A religious belief that the price of housing only increases
- The brainwashing of the general population with the use of reality TV programs exemplifying self styled renovations and home cooking wankery
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| Images via @BoomersAreEvil |
It came as a surprise to see an Australian program the GruenTransfer, a show about advertising pitched the housing bubble. Two short
advertisements were shown displaying some of the drawbacks to such exposure to
extortionate debt that is being peddled to young home buyers. If anything the ads
are quite amusing.
Here is the screener h/t schnitzelburgs:
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