Are rent prices too damn high in your country?

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Good morning I hate boomers

Still better than Abbott.

Rent prices are never "too high". Rent prices always reflect what people are able to pay, unless you think your entire city is actually empty

how can one pm being so retarded

>what is airbnb etc. skewing the market so that the entire city actually is empty

So your city is full of vacant Airbnb properties that go unused and the owners just keep losing money on them?

It doesn't make sense to own a property (in the West where property prices are often very high) unless you're farily wealthy (say top 10%) if you think about it logically. You're taking on a lot of risk by owning a property, especially since you're almost certainly very leveraged as well.

If you buy a house for 1 million euro and put in 200k, then a 10% decrease in property prices will wipe out half your equity. It's great if prices keep going up, but prices are already very high and are only not collaping because of very low interest rates and mass immigration.

So the average person should just rent and invest all their money in low cost global stock market index funds.

Watch him get elected by like 8 votes again

>10% decrease in property prices
Doesn't happen ever

>You're taking on a lot of risk by owning a property
lmao

In some cities. Primarily because the local government is refusing to develop or rezone land.

basically yeah. they depreciate over time and the amount of money needed for repairs can be obscene if they are poorly built/maintained.

Yes it does
You just haven't seen it yet because your country population is still growing and you've never been in a recession

Do you people think supply and demand doesn't apply to real estate?

Not him but its not very unlikely to happen. Interest rates have been crazy crazy low for many years now. With inflation looming, interest rate increases can very likely decrease prices a lot

Abbott was at least entertaining. I fondly remember him eating a raw onion and saying he was going to fight Putin.
Morrison doesn't even get that far.

Foreign buyers
Airbnb
Speculation (banks purposely letting building empty to inflate the prices)
Mass immigration
Boomers owning several houses because they could buy them for nothing on the 70's, 80's

Old people living in massive appartments/houses alone because their kids moved out and their spuse died.

>Banks building empty buildings
So making more buildings is supposed to make their price go up instead of down? That makes no sense

How Australian got the worst PM 4 times in a row

They aren't building them. They are buying them and don't rent them out because they can't be bothered.
Tough a lot of city that kind of behaviour will have the local government fucking your ass with taxes.