Australia is always going to be worse as long as we have this weird government/cultural pumping of housing as an investment. Every single bogan here talks like the absolute epitome of life accomplishment is to have a property portfolio to laud over the plebcunt renters. The idea of investing in production or business is laughable, you don't hear it mentioned at all.
Our biggest software employers are banks and real estate companies. Everyone I've worked with in my career has worked for REA or a bank at some point. There's no innovation, just property investing.
As long as every newspaper in the country keeps running stories about some dipshit 20 year old magically buying 6 houses with a paper route, it's impossible for it to ever change.
I’m an Aussie who’s lived in the US for 10+ years - you are spot on. Every time I go back all everyone can talk about is property investment and house prices and buying rentals. It was starting when I left 15 years ago but has reached fever pitch now. Play a little game with yourself - see if you can get through any group social event without the subject of property coming up.
It’s very sad. Australia used to have a somewhat egalitarian mindset, but this is creating such a massive generational wealth and class divide that gets wider and wider every year. No one seems to understand the damage their quest for parasitic income is doing to society.
Our biggest software employers are banks and real estate companies. Everyone I've worked with in my career has worked for REA or a bank at some point. There's no innovation, just property investing.
As long as every newspaper in the country keeps running stories about some dipshit 20 year old magically buying 6 houses with a paper route, it's impossible for it to ever change.