Comments by "P M" (@pm2886) on "Australia's Failed Housing Experiment" video.

All that would do is stop people from acquiring more than the cut off, or find ways to evade the tax by putting money offshore. It would be disastrous for business, and thus employment.
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That's very cheap! Not many people want a poorly built and badly designed house in a treeless new estate miles from services and facilities, so I'm guessing that keeps the price down.
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But they can afford it. All they have to do is stay at home rent free, and buy a cheap property in a regional area. They don't have to live in it. They can rent it out while they themselves live in the city. Young people only struggle if they expect to buy their first home in a capital city.
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@Oz_Raven I guess it depends on what you really want. For example because we're not rich, our kids chose university degrees which would qualify them for a high salary. They have to pay back their student debts themselves, so there's no way they could afford a 'luxury' degree like a Bachelor of Arts. They live at home so they can pay off their student debts as quickly as possible. They don't own cars. They don't drink alcohol, or smoke, or get tattoos. They still manage to go out and have fun on the regular, but they do it in an inexpensive way. Etc etc. It's about priorities. They want to be financially secure, so this is what they have to do. That's always been true for those of us not born to money. If you want more than the average Joe, you're going to have to make sacrifices. Meantime, there are PLENTY of cheap rural properties under $400k. If you're thinking $700k you're not serious. In fact I've seen several this past week for less than $200k.
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@lukedegraaf1186 The poster was probably only referring to work. And they were correct in that regard. If you're on $25 an hour for unskilled labour, it doesn't matter how hard you work - you'll still earn less than a doctor. And it's important to remember that the doctor worked their ass off for many years, to get to that point. Arguably far harder than the person doing work requiring no special training. The point being that it's all relative.
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Yes - much of the "crisis" is a result of our own expectation of living in overpriced cities. It's just not realistic to demand cheap housing in expensive locations.
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