This is the best summary I could come up with:
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Wealth will continue to concentrate.
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Young people are fucked.
As long as 45% of our federal lawmakers are investment property owners WHAT THE FUCK DO WE EXPECT WILL HAPPEN ??
this post was submitted on 23 May 2024
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FFS they just need to stop eating avocado on toast! Then they will have a house
Avocado toast is the only thing worth more than a house, a spark of joy in a torrent of hellfire we call life in the modern age
Just wait until banks start offering Avocado Toast loans
Well, motherfucking pikachu face.
The thing is that this is not AU specific
This is a systemic assault across working people globally.
Debt slavery leads to compliant wage slaves.
This is the best summary I could come up with:
Australia is at risk of "giving up on equity" if governments fail to reform housing and tax policies to improve the economic prospects of younger generations, one of the country's most respected economists has warned.
It comes as experts grow increasingly concerned that the cost of living challenges could worsen generational inequality, as young Australians become more frustrated over the current economic circumstances.
Ross Garnaut, an emeritus professor of economics at the University of Melbourne who has spent his career working in public policy, said young people are rightly justified in feeling as if the economy is stacked against them.
Asked whether the housing crisis was influencing how young people approach university and their careers, Professor Garnaut said in his view, it was affecting "their attitude to life".
Professor Garnaut said that when taking high immigration levels into account on top of those supply factors, it has created "very tight" conditions, although they are expected to ease.
Professor Garnaut also disputed the idea put forward by the Coalition to stop foreign investors from purchasing existing homes as a way to address the housing crisis.
The original article contains 866 words, the summary contains 183 words. Saved 79%. I'm a bot and I'm open source!
Wait till enough people are mad enough to make destructive change inevitable. The tax concessions, rebates, concessions, discounts will be wound back. Just how hard that landing is will depend on how concentrated wealth will be.
Decreasing the demand on housing and increasing the supply is all that's needed.
Australians make a lot of money it's just all lost to housing.
🤔 seemed pretty tough back in the day.
Economically? 'Cause that's demonstrably false
nobody said it wasn't
Why