It’s so strange to me that housing would be so unaffordable in Australia when the damn country is like 99% uninhabited. There’s more space there than you guys know what to do with. It has around the same land mass as all of the USA yet with a total population of just the NYC metro area. What the hell is up with Australian housing prices? Why aren’t enough units being built to keep prices reasonable? You guys are hardly running out of space.
The reason for the insanity in Australia is due to something called capitalism; specifically the much-lauded yet insipid boom and bust “business cycle” that characterizes this economic system. The prices are going nuts due to something called speculation. Basically speculators are buying up all the property and just bidding it up higher and higher to drive the cost up probably because as the prices of housing continue to rise, it is easier for speculator dicks to buy lower and sell higher.
A friend in Australia told me that hardly there are hardly any real home buyers in Australia anymore because no one can afford to buy a house to live in. Instead almost all of the homes are being bought up by speculators who simply keep bidding the prices up and up.
Speculators are the scourge of the market, honestly. They don’t do anybody any good. These markets they bid up and down are stupid. These “markets” are like giant gambling casinos in the sky. Speculation causes absolutely no real productive economic growth whatsoever. Speculators don’t even make anything. They are like a bunch of folks at the races betting on horses.
There’s absolutely no real benefit for the economy in any way and speculation causes a lot economic damage with its chronic boom or bust manic-depressive cycles which capitalist fanboys bizarrely love so much.
I think if aliens came here and asked about our economy, and we told them, “Well it’s a boom or bust, manic-depressive cycle where the economy gets really pumped up and a bunch of assholes get rich and then the whole house of cards falls down causing a tremendous amount of damage in real lost or destroyed wealth, widespread societal damage and probably a lot of injuries and deaths due to the stresses of an economic collapse.” We would crow to the aliens about how this insipid manic-depressive economy with its psychotic manias and immsierating depressions is the ultimate economic system designed by mankind.
The aliens would probably say,”Wow, what a stupid system. This is the best you beings can do? You call yourselves intelligent sentient creatures?”
The aliens would then shake their heads, say these people are not only nuts but they’re also apparently retarded, get back in their spaceships and leave us to our mad mercurial idiocy.