The average house is a $Million. Throw on the mortgage and people are looking at $2Million to get a roof over their heads. Meanwhile that giant sucking sound is all the productive capital of the nation being drained into bricks and timber and increasingly Chinese drywall as the quality of domiciles drops to crapshack levels. So, it will be the grotesquely distorted housing economy that will bring about this unemployment you're seeking.
I was traveling up the city Terrace of the CBD this morning paying attention to all the office buildings along the way. Many For Lease. The others; the same old stodgy companies that'd been there for decades. An American finance expert made a great point back in 2016 when she said for the last 50 years, the ASX's top 50 had barely changed. Moribund and decaying.
Well, Albo always has his Trump card to play. Millions more desperate immigrants willing to sacrifice any semblance of happiness or a life lived to feed the roaring volvcano god of property. But how long can that keep propping up the economy? Pradeep is going to need considerably more than $50/hour if he ever wants to be anything more than a life long rental sharer. By the time he's saved his $50K deposit, the house prices have gone up $100K.
CBA Price at posting:
$185.36 Sentiment: Sell Disclosure: Not Held
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