I am not saying it will improve, i think its inevitable a lot of people will get hurt, those without likely. However a lack of common awareness is a big issue. Australia is affluent. Do people spend money easy…take a look at westfield most weekends, and tell me i am wrong. But she’ll be alright is used like an excuse to not deal with clear issues.
I know that there is disparity, been calling if for a long time but most people have been ok with this because their house price went up. The can has been kicked and kicked but debt has to be paid eventually. I am not rich, I cannot afford a home in Aus, but I am also not ignorant to the conditions of those who struggle.
hanrahan@slrpnk.net 3 weeks ago
housing isn’t unaffordable because of rate hikes, its unaffordable because of cheap money and constrained supply, it’s what “we” voted for.
this is a 50 year slow moving shit storm, tweaking rates 50bpd here or there matters nought when you have nothing to begin with but inflation matters a lot.
these many many have fucked around and now they’re finding out, they’re adults, with agency… this can only get worse for them because nearly everything we do in terms of neo liberal economic policy takes us this way, and they vote for it they’re accompolocies not victims… we literally eat the future and how they vote will make it even worse for themselves, we see the same shit in the US.
As to the many many… new car sales are at a record, 75% of them are ICE ffs, over seas travel is at a record, inflation adjusted spending keeps increasing. I go out anywhere and observe cafes and restaurants over flowing (I don’t eat out because i cant afford it) i live near a tourist town that drowns in tourists that require vast amounts of energy to get there, fuck any Hormuz crisis it seems. We’ve just seen record numbers of people pay ridiculous amounts of money to watch strangers run around in shorts chasing a ball (bread 'n circuses)