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Icarus

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10/06/17

09:05

Post #: 25209483
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Originally posted by danginvestor ↑

Yea. It'll get a whole lot worst, then maybe if the gov't decided to end neoliberalism and austerity, maybe things will turn around quicker... but that's unlikely so most will be screwed.

In the US, the GFC put some 10 million families out on the street. The poor and working class won't get bailed out. Then small time investors with a couple of properties will also see their savings disappear, their tenants also kicked out due to how CDOs are structured and no one who owns what etc.

Lots of empty and vacant houses, lots of people needing a place, but the two do not meet. So unless Australia is really special, it's going to end the same way.

What's been happening in the US though, is the likes of BlackRock and other deep pocketed funds goes in on these cheap properties. Scoop them all up to then rent it back. They do it long before the young generation or those who lost their home can recover and find a good job to get back in again.

So there's plenty of renters. And if we think the average landlord with your average agent is heartless... wait til you rent from a corporation.

Can't help but think that this property bubble is not just greed and needing to put people to work in construction. It's social engineering. You hook a couple of generation into a lifetime of debt. They'd work their azzes off day and night to pay off the mortgage, not daring to join unions or raise their voice wanting a raise... no time to sit back, relax, question politics and policies...

The very rich get to make fortunes on the way up and again on the way down. Then they'd tell the poor and working class they're not working hard enough, having too many holidays and avocadoes.

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Great synopsis and very true. Socialism 101 , keep the masses in debt , control the masses.
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Completely Stuffed, page-70

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Completely Stuffed, page-70

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