my housing price rant , page-13

One of the most basic human needs is to house ones family. 40% of property is owned by investors who receive tax breaks via negative gearing at the expense of a family wanting a roof over their heads. DIY super is in the market big time. Too many landlords owning the roof over peoples heads. The ugly truth is that no government in this country will touch-up property to help young families. The amount of private debt in housing, if tampered with is enough to sink the ship.
A home is as fundamental as breathing and eating but we turned it into a cash cow for the baby boomers and the wealthy. The bubble won't burst anytime soon because there are too many snouts in the trough, from agents, to councils, to boomers to governments who don't give a rats ass.
I'm a boomer who retired at 53 by buying and selling houses. The whole thing is a cruel joke at the expense of the next generations coming through.
That's another reason why immigration will always be substantial. Nothing to do with love of fellow man. They work hard and buy real estate. Keep the population growing, keep the lending cheap, keep people in debt up to their back teeth for half their life. The ridiculous price to provide a home for ones family drives the cost of everything through the roof, food, cost of tradesmen, cost of living in general is all countered off the basic cost of real estate. So many people have gotten rich for doing nothing, including me.
If and when the bubble bursts - and I hope it does - it will mean that the government will have thrown every last cent our great-grandchildren should have had for their own needs at the rescue attempt.
If the bubble bursts it will roll the banks, take down the economy, destabilise government and flush the bastards out who got rich on the sweat of somebody who actually does something. Out with the bankers and real estate agents.
This system has to be broken before it can be fixed - nobody will ever fix it from within.
By the way, I'm one of the bastards but at least I know I'm a bastard.