this post was submitted on 11 Nov 2023
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It’s terrible that we’re regressing towards a pre-1850’s society, but also ridiculous is that all this does is drive more money into non-productive housing.
Say want you want about the US, but at least there the dream of wealth is underpinned by the idea that you start a business doing something useful.
The Australian dream of wealth is flipping houses.
Surely a lot of "influencer" dreaming ? Getting into housing now is capital intensive.
I've only ever had a house to live in and invested elsewhere but back when I had a business (decades ago) they wanted a lein over the house in case of default, so it's hard getting capital to start a business as well, sans house.