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You better believe the building boom is coming. I am seeing it with my own eyes (plus the stats). Quite close to a number of developers and I can tell you now they are starting to ramp up.
NRAS, cuts in some of the development taxes, cuts in stampduty tax (for some states) if one buys new, etc. And then, when the Sydney median clicks well and truely over the 2003 high, then... it will be on.
I am long on some of the listed developers whom were basically being priced on the ASX for bankruptcy not three months ago. AVJ still has its stock price lower than where it was back in 1991!
Not that this is a recommendation to buy stocks or any investment (my disclaimer!). But lets just say I am putting my money where my mouth is on this one.
The only way Gen Y won't be robbed by the ignorant generations above them is to not participate. I appluad those that stay out of the market and spend their money on worthwhile things like food, drink and travel.As far as I noticed there are 3 major groups of losers there, the ones who got our of property too early and missed the tide, the ones who were to scared to get into property and finally the Y gen kids who want it now but can't afford it and are not prepared to put the hard work in. The only thing they have in common is that they are all green, green with envy, and think that if they wish it hard enough it may come true. Now can you honestly deny this ?
And then, when the Sydney median clicks well and truely over the 2003 high, then... it will be on.
Increase immigration = constant housing demand...
I think they'll have the cash. Here's a nice post by Blue Card on that question:only if someone has money to pay for those houses
TC
How does increased immigration equal greed? Haven't read all the posts so may have missed something..
Australia could easily create another 10 cities spaced around Australia's coast line with populations of 250,000. The creation of new cities would be good for Australia's development as long as they were set up the right way. One thing Australia definitely lacks is population.
Before anyone goes on about water there is enough excess fresh water per year in the North of Australia to supply the rest of Australia for over 10 years. The problem is we haven't harness this water or built the necessary storage facilities. A series of national water pipelines is needed.
hi rockstar
I have a very simple answer to that
sand weg
I see no reason why we need to fill this country up. We don't. We don't need to be another overcrowded polluted place like the rest of the world. It is greed though that's causing it. Greed for profit in any number of industries and areas. And no long term thought. Just profit for tomorrow.
It doesn't really matter whether you or I want it to happen. It will happen because as you say, industry, commerce and political parties all want growth, and they are the ones with the power to decide what happens.