It’s time for a global Millennials revolt

By Leith van Onselen

This site has frequently railed against the unfair treatment leveled at Australia’s Millennial generation.

This inequity is most apparent in the housing market, where today’s younger generations are being forced to pay far more than their parents to live in smaller and poorly located accommodation. But it extends beyond housing and includes a whole bunch of things like:

  • Importing large numbers of foreign workers in a bid to increase competition for jobs and lower overall pay and labour standards, as well as keep upward pressure on house prices, all under the cloak of “skills shortages”.
  • Related to the point above, the refusal by Australian businesses to take on new graduates and train local workers, as well as the increasing propensity for businesses to take on unpaid interns.
  • Failing to properly enforce Australia’s foreign ownership laws as they pertain to real estate, as well as deliberately failing to implement anti-money laundering rules on real estate gate keepers, despite promising the global regulator that Australia would do so in 2003.
  • Biased tax laws (e.g. negative gearing and the CGT discount) that encourages investor speculation and crowds-out first home buyers.
  • Failing to apply adequate means testing of the Aged Pension, despite it being the biggest and fastest single cost to the Budget and the wealth of those aged over 60 skyrocketing over the past decade at the same time as the wealth of younger Australians has declined.
  • Failing to adequately unwind overly generous superannuation concessions that overwhelmingly benefit the old and wealthy.

There are other points that I will have missed, but you get the picture.

These inequities are by no means isolated to Australia, however. We have also seen similar issues at play in New Zealand and other Anglosphere nations, whose Millennials are also been shafted.

Indeed, yesterday The Guardian posted a depressing report on how UK Millennials are spending three times more of their incomes on housing than their grandparents and often living in worse accommodation:

The generation currently aged 18-36 are typically spending over a third of their post-tax income on rent or about 12% on mortgages, compared with 5%-10% of income spent by their grandparents in the 1960s and 1970s. Despite spending more, young people today are more likely to live in overcrowded and smaller spaces, and face longer journeys to work – commuting for the equivalent of three days a year more than their parents.

The research by Willetts’ intergenerational commission at the Resolution Foundation thinktank also reveals that today’s 30-year-olds are only half as likely to own their own home as their baby boomer parents. They are four times as likely to rent privately than two generations ago, a sector which has the worst record for housing quality, the report claims…

A young family today has to save for 19 years on average to afford a typical deposit compared with three years for the previous generation, the report states…

Parliaments world-wide desperately need to be occupied by a dedicated youth political party to apply a lightning rod and to educate and mobilise their ravaged young.

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Unconventional Economist
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  1. Do you have to be a Millennial to join this revolution? Sounds like it could be a bit of fun…. Who will lead this? How will they fund it? Will “they” supply the foot soldiers with wine and spirits? I am guessing rope will be readily available along with sturdy pikes and lit torches….

    • This is the key point actually…..

      Leith is talking millennials but it is essentially anyone (regardless of age) who is looking for justice, accountability and genuine democracy – not to mention an economic basis not revolving around avoiding paying tax, or gouging captive, bullshitted, contract bound, debt ladened impotents channeled through corrupted mainstream politics, on the part of oligopolistic multinationals peopled by an MBA class of psychopaths spewing KPIs and doublethink – who should be looking at revolution.

      I am talking radical activism here – everything from non violent protest, to mass bill denials, to acts which will get up the nose of people on the street and the ‘elites’ as we know them, and ultimately beyond . It wont be gained through extant politics and past existing institutions (both public and corporate) who have an interest in the status quo and will ultimately act to defend it.

      Leaders, strategies, tactics and narratives will emerge. It is time to stir up the impulse.

      Power congeals on peoples and institutions and organisations. The scabs they create need to be picked.

      Viva la revolución!

      • “anyone (regardless of age) who is looking for justice”
        nothing would make my heart soar more. i would take to the streets myself if a crowd formed.
        i just don’t see it happening in Australia

      • Agree. Unfortunately I think there is still a belief in benevolent state paternalism. This is deeply buried in the nations psyche from a time when the state did actually act as a countervailing force to private power. From Federation until Keating sold the state (both its policy goals and assets) to private interests – but I know we disagree about that. Anyway it still isn’t acknowledged that the state is bought by Tiguboff and co., so there is this mistaken belief that if we just get the right politicians we will start getting more rational policies. I don’t think it will happen. The tone deafness is by design not by accident. This is what keeps politics in its formal confines unlike France for example.

      • Yes, anyone and everyone with some sort of moral and ethical sense should be actively part of this. But where are they?

        I’ve always told people to milk ever tax perk and government payment they can legally access, but at the same time push for reform of these very things if they are not in the nation’s interest. Funnily enough, the more people benefit from these things, the less they question them. Good job, humans.

      • Amazing Sweeper that’s exactly what I tell you about your “regulations are panacea” endless droning.

      • Can I join?
        I’m really good at spotting opportunities to earn big bucks, for me and my mates
        This sounds like an opportunity where I need to be in on the ground floor
        Viva la revolución!
        plus ça change, plus c’est la même chose

      • rob barrattMEMBER

        Great Gunna
        Trouble is, the typical Aussi. I turned up at the anti internet censorship protest (that moron Conroy) in Brisbane held on a Sunday in 2008 to find less than 200 people there. Looks like reading the sports results is still the order of the day for most . Oh how I wish I could wake up and read of something very unfortunate happening to one of the more prominent @#$%^&*$% in Canberra. “Poli with 10 investment properties found @#$%^& (fill in appropriate gruesome adjective or phrase)”. Due to an accident of course!….

      • How? I can only infer that this enduring wave of banshee wailing in the media is geared to “edumacate”, divert and subvert the young from really understanding what is happening to them… but I still don’t know what’s lurking under the surface.

    • boomengineeringMEMBER

      Watch your back Original John. Before the Nucleus meeting last night was being sympathetic to the younguns but the hatred couldn’t be penetrated. He even hated the idea of his old man collecting the pension and being able to go on three holidays a year.

    • I’ve said it before and I’ll say it again, there will be no revolt here. Australians love the idea that they’re antiauthoritarian, they love talking the talk, but when it comes to walking the walk they fall over like a drunk.

      • The simple fact is that things are not bad enough here yet…. For the most part we live in a peaceful society and that’s what people are desperate to protect, even if it means a decline in their living standards, running like hamsters on a wheel or not doing as well as their folks did (with much more modest educations).

    • Way to take the fun out of the potential revolution guys – I had just stocked up on garden stakes from Bunnings and Bundy rum from BWS (nice mix of OP, Small Batch and original). What am I going to do with these supplies now??????

      • blacktwin997MEMBER

        Right on OJ, i have a 3t truck here loaded up with garden flares, blankets and tents. i have the truck till Monday, maybe we could set up a riot base camp near a government building somewhere?

    • As long as the pikes are directed at the right target an uprising might achieve the right result. Unfortunately, I fear otherwise

      There is no mention of the RBA in any of the comments (above or below), which means the target will unquestionably be the wrong one. The housing bubble (and all others) are the direct result of errant monetary policy (NG and CGT are a sideshow). Yes, it is true that the RBA’s charter is conferred by Parliament but most commenters on here think that the solution lies in Govt intervention elsewhere. This is wrong-headed so the status quo will remain.

  2. they are lambs to the laughter man. there will be no revolt because it will require them to break their programming on the key issue that is screwing them and screwing them hard; immigration. millennials are WAY WAY more concerned with same sex marriage being legalised than any of this stuff. while there is rumbling and righteous indignation (inspired by the project no doubt) on negative gearing and occasionally gasps of air on “muh housing”, rising inequality, the education-industrial complex, and the big immigration project are either after-thoughts or objects of undying support — or even pseudoworship. i know, i have walked amongst them. i have been banned from their sub-reddits and forums for speaking truth to power. release stagmal, Pilate asks the shrieking millennial crowds? no — release Barabbas– they cry in return.

    they are cowards whose physical and mental development has been irreparably altered by phytoestrogen exposure and globalist propaganda.

    there is no hope for them. they are lost.

    • The increase in Milenial voter enrollment’s for the plebiscite has been Tony Abbott’s proverbial headbutt to the Coalitions chances in the next election.

    • Younger people inevitably tend to be more naive about how the world really works, and are therefore more easily hoodwinked into supporting policies against their own interests; they are also more easily exploited by older generations who are often wiser to how things really work, and have had more time to game the system in their favour. To say that the young are entirely to blame for all their own woes because they don’t immediately see through all the bullshit that has been fed to them is no different to entirely blaming the victims of a fraud for their own misfortune and suggesting no action should be taken against the perpetrators.

      “millennials are WAY WAY more concerned with same sex marriage being legalised than any of this stuff.”

      The purpose of fashionable SJW culture war issues like same sex marriage is to distract younger generations from issues of intergenerational equity and the growing disparities between older and younger generations – keep the kiddies distracted with rainbow flags, bullshit and baubles, and maybe they won’t notice the old fox that made off with all the loot! It’s a way of giving younger generations a means of symbolically sticking it to the old folks – instead of hitting them where it would really hurt, such as popping the asset bubbles that are propping up the wealth of older generations or cutting back funding for their health care and pensions, or perhaps even voting with their feet and leaving the country for greener pastures.

      I was discussing this issue with my brother some time ago, and he said something to the effect of: “I couldn’t care less whether or not two blokes can get married. I care about whether I am going to spend the rest of my working life paying for an aged pension that I will not receive when I am old”. Amen.

  3. yeah but we need to work on getting the obesity rate down first before we can say we have the cream. and differrent ethnic groups dont necessarily compete statistically for the same pools of women. white women generally harbor negative stereotypes about south-asian/indian males and rarely date them.

    • blacktwin997MEMBER

      stagmal might i respectfully suggest that any stereotype if largely accurate be instead referred to as a characteristic?

  4. For immigration, which party is going to reduce it to the levels that we had around the year 2000? Younger people are more likely to vote Green/Labour, but Greens will let anyone in unless they are white. Do you really think that Labour will reduce the number of migrants when they need housing (construction union money) and essential services such as teachers and nurses. For the Liberals, no more needs to be said.
    While this site advocates for Sustainable Australia, unless they get a significant portion of the votes, nothing will happen. Nice people, but don’t get the media attention as PHON.

    The other thing that I would add about superannuation given the list above is that it is tax haven for the wealthy (generally older people). Younger part time workers are worse off in the current system and people on massive salaries are much better off. Then the amount of fees being charged largely means that the system will never achieve what is is intended for.

  5. “The generation currently aged 18-36 are typically spending over a third of their post-tax income on rent or about 12% on mortgages, compared with 5%-10% of income spent by their grandparents in the 1960s and 1970s. Despite spending more, young people today are more likely to live in overcrowded and smaller spaces, and face longer journeys to work – commuting for the equivalent of three days a year more than their parents.”

    Stands to reason. Boomers don’t die and the third world keeps breeding. Theres simply too many people globally for old first world standards of living to be maintained for the same proportion of the population.
    No escaping that fact.
    Still worth leaving though… the intergenerational sell-out is more benign in other parts of the world.

  6. If the millennials are failures then we need look no further than their elders who shaped the world they live in and provided the example of how to live in it. Yep, I blame the parents.

    • Exactly! Bag our generation all you want. At the end of the day most of the posters here are probably our parents. You raised us, you taught us how to think (or not), you crafted these policies, you specuvested house prices to the moon.

      I doubt my generation will ever get over our preoccupation with moral outrage. BUT, if we do my pitchfork is sharpened and ready and I’ll gladly use it – old testament style.

  7. Posted at … … with extensive further posts …

    All bets off in ‘extraordinary’ election | Radio New Zealand News

    Three leaders have fallen victim to a fickle public mood and Labour has had the first glimmer of hope in a decade.

    There have been record numbers of advance votes from an electorate that seems so much more engaged than previous elections.

    Labour is staking its success on young people enrolling at the same time they voted; this is the first time people have been able to do both and Labour is hoping those numbers include a high number of enrolments, disguised within the early voting figures. … read more via hyperlink above …

  8. Great article, great graphs.

    One thing I would add up the top is diverging education standards. Not necessarily private Vs public, but more “good suburbs in zone” Vs “bad suburbs in zone”. This entrenches social inequity even more – how are you supposed to “get a good job that pays good money” if you need to be a gang member to ensure your safety at school?

    Completely different topic – low housing costs for the “forgotten generation”. I wonder if they “benefitted” from a housing oversupply due to the population decline caused by 800,000 Britons killed in WW1?

    • When you say “forgotten” generation did you mean the silent generation as per the definition on the graph? Can’t really see why it would be helped i mean on the supply side it wasn’t that long before the blitz, certainly not even long enough for the first of that generation to be buying houses. I don’t know how many places were destroyed by german area bombing but i can’t see how that and also diversion of pretty much all productive manpower to the war effort would have not restricted supply to make up for the WW1 population effect.

  9. Not holding my breath. Unless they can shake off the social justice rubbish they are all concerned with then no.

    • Not that they’re concerned with – they’re “being lead” in that direction. It’s the old “idle hands are devil’s play things” soo, then give them something to do. Something that: a). is a side irrelevant issue b). takes a long time to achieve c). has the potential to become a highly divisive issue d). whatever the outcome is, it benefits the leaders on the way up and down.

  10. Millennials are passivated by easy access to social platforms that they use for self indulgent political purposes. Remove the platform and you might see that translate into political mobility of the demographic.

  11. FiftiesFibroShack

    A ‘no spend’ movement would get some attention and cause some sphincters to tighten. Stop spending on anything that isn’t essential and watch how quickly governments take notice. A bit of revolution on the rental front would be powerful too; 10 to a room, or move back in with your parents. Create mass rental vacancy.

    Stop spending and some very powerful lobby groups will suddenly be very interested in you.

    • FiftiesFibroShack

      They would have to bring in a hell of a lot of immigrants to counter a well targeted no spend campaign. I doubt it could be done quickly enough or without significant political fallout. If a no spend movement/campaign could force that type of reaction from government it would be a political win.

    • truthisfashionable

      2017 millenials x-mas.
      Spend $0 on gifts for your friends and family. Christmas lunch or dinner only with food from farmers markets and independent butchers. Craft beer from only real craft brewers (don’t be fooled by the lion/coca cola/ ab inbev fake craft beers – stupid yenda).

      It could gain some traction if the messaging is done right and ensure it doesn’t get captured by some of the rent seeker’s that are trying to be boycotted.

  12. What is the reward for such a revolution?

    Based on the last 100,000 of history I feel the best it gets for a society is when it reaches a point where women can walk down the street in relative safety. This isn’t about gender equality or liberal freedoms but the outcome of a safe environment for women has many benefits for society. First and foremost, you have the potential to utilise 100% of the population.

    In Australia we have reached the ‘as good as it gets’ anything else is just tinkering around the edges and won’t make much difference as long as we maintain the above standard.

    Global powers should work towards reaching a point where the above test is met in the majority of nations. At this point as a species we can then move towards focusing on getting off this planet and really reaching the potentials of the human imagination.

    • Dude… lay off the magic mushrooms.

      “Global powers” … oh dear! “should” … oh boy! “getting off this planet” … oh my! wait… what? Why?! Some of us quite like it here.

      • “Why?! Some of us quite like it here.”

        Your grandchildren, if you have any, may not feel the same way if we continue to pollute and consume the planet’s resources at an unsustainable rate!

        That said, i don’t think leaving is the answer. Probably better we just look after the only home we have and stop taking our continuing exsistence here for granted.

    • ah, that dream of good progressives everywhere, a benevolent dictator.

      did you ever stop to think, the purpose of everything you have been taught from childhood is to restrict your imagination to beseeching the powers that be to be better. when these are the very people who keep screwing you. are you so blind, that you cannot see your own chains?

      • ah, that dream of good progressives everywhere, a benevolent dictator.

        Er, no. “Benevolent dictators” are the kind of thing reactionaries hanker for (with varying levels of “benevolence”).

        The “progressives” dream about (proper) democracy, remember ? The main gripe you guys have with them ?

      • the actual outcome of every left wing movement in history… without the benevolent part.

        or was it always, they weren’t communist, communism has never been tried comrade!

      • @ drsmithy – yes you all hanker after democracy. but no one has been able to execute have they? we all know the cycle: democracy -> populism -> left wing reign of terror -> reactionary regime/civilization collapse when taken over by outside reactionary regime.

      • yes you all hanker after democracy. but no one has been able to execute have they?

        Switzerland is doing OK.

        As do the northern European countries with their large coalition-based governments.

        The societies of the (primarily anglosphere) west are breaking down because their democracies are ultimately reliant on smaller scale benevolent dictators in the form of political representatives and two-party systems, who are more prone to corruption.

        we all know the cycle: democracy -> populism -> left wing reign of terror -> reactionary regime/civilization collapse when taken over by outside reactionary regime.

        LOL. The only things close to real people’s democracy in large chunks of the world have happened in the last century or so, where the most liberal have experienced and been responsible for the fastest advancement of technological capacity and greatest uplift in prosperity and living standards in history.

        The rest of humanity’s story for most of its existence has been the vast majority of people oppressed, exploited and abused by a handful of psychopaths. Which has lead to cycles of revolt and (re-)oppression by the winners of the revolt. Modern democracy has broken the cycle – at least temporarily – hence the massive boost in prosperity as people are able to spend less time worrying about whether they’ll be killed by the frivolous whims of the dictator-du-jour, or by his cousin next door looking to take over some land or make off with a few more unwilling subjects, and more time inventing and building stuff.

        Our societies are breaking down and returning to old cycles because they are becoming less democratic. Since the common people have the most skin in the game and feel the impacts of bad governance both sooner and more intensely, the greater their ability to address those problems the less likely they are to build into tidal waves of revolution. Non-democratic regimes (generally) break down catastrophically because the insulation of their elite and rulers from their bad decisions means the consequences of those bad decisions are no felt until they are too big to mitigate. This is precisely the consequence we see playing out today, not because we have too much democracy, but because we have too little. Do you think we’d have been running 200k/yr immigration straight after the GFC if the people had been able to have a say in it ?

        “Populism” is just the latest elected dictator trying to stave off revolution with bread and circuses. It’s avoided by listening to the people before small problems become big problems, and the easiest way to do that is give them more ability to influence government. Ie: more democracy.

    • I am sure all sorts of rewards could be devised – get TAB on board for the odds and all prizes in BTC even. First head on a stake, most heads on a stake, most creative staking etc. Could even have multi-way bets. This would be about the only way to start a revolution here – have a book on the progression and outcome……

  13. maann why revolt when you can call up nathan birch, get yourself 20 properties initially and sip pina coladas.

    • reusachtigeMEMBER

      LOLOLOL… Some freak said that when this blog started. I think it was the first comment ever. Meanwhile… Booooommmmm!

      • I don’t mean house prices, I mean millenials. Once more and more realise they’re 30 and don’t have a dollar to the name and are a million miles from being able to buy a home and start a family, meanwhile they’re too busy chanting the latest SJW issue! It’s a cold hard reality which hasn’t set in for many.

      • As a result of all this, I am willing to bet that the rates of marriage (of any type) will crash and burn.
        Getting married, particularly for men (or the partner with the greater assets) will simply no longer we worth the risk when the good wife can take half should she decide that she is no longer “happy”.

      • As a result of all this, I am willing to bet that the rates of marriage (of any type) will crash and burn.
        Getting married, particularly for men (or the partner with the greater assets) will simply no longer we worth the risk when the good wife can take half should she decide that she is no longer “happy”.

        Meanwhile, in the real world…

        Even today, where men don’t get to own their wives anymore, they on average do better being married (or in an equivalent long term relationship) than not. They will be healthier, wealthier and have higher social status. The same is not true for married women, who see little advantage over unmarried women.

        Similarly, men generally do better out of separations than women, over the long term. There’s a short term downwards blip around mental health (particularly for the “macho men”), but if they get past that they’ll recover earnings, wealth and social status far quicker than divorced women. Especially when there’s children involved, and even more so for older women who have been out of the workforce (if ever in it) for a very long time.

      • Well done Sir … spoken like a true Third Wave Feminist.

        Typical of a Feminist, you get a it totally ass backwards.

        Women typically will marry a man that is of higher social status than her. This being a combination of his ability to earn and provide etc.

        You see; biology (including evolutionary biology) takes far, far longer to change than culture and women are biologically wired to seek men that are perceived as being equals or higher in the status stakes.


      • Lol it’s ironically amusing when those that claim to be objectively rational yogis floating above the mere mortals turn into irrational cowards when the women folk are mentioned, similarly to the religious fundies they like to denigrate.

      • LOL evolutionary biology. Goodness me, the people doing real science in the field must be dismayed that their work is mostly used to justify sexism, racism, and various other forms of bigotry.

        Nothing you’ve written is relevant to my points, which are that – all else being equal – men are better off married than not, on average. Simiarly, when separations do happen – all else being equal – men do better out of them long term than women, on average.

      • Lol it’s ironically amusing when those that claim to be objectively rational yogis floating above the mere mortals turn into irrational cowards when the women folk are mentioned, similarly to the religious fundies they like to denigrate.

        Indeed. It’s pretty obvious that the “concern” from some quarters about the treatment of women by fundies is driven less by any real fears for their welfare and more by who’s doling out the poor treatment. The way they talk about the “wrong kind” of women is almost identical.

  14. ‘It ain’t what you don’t know that gets you into trouble. It’s what you know for sure that just ain’t so.’

    you think the history of the world is some series of events which were triggered by mass participation and the quest for social justice and other nonsense like that. sorry, never happened.

    the people en mass will never do shit. this is why they are the people. if they could do shit they would be the elites. stop looking for nonsense in the tea leaves, looking for ‘da yoof’ to rise up, and some fantastic nonsense about social participation that makes society better for everyone. the only reason you think any of this may happen is due to progressive rewriting of history. the mass participation never happened. sure, some young people virtue signaled and got laid, but thats what young people do.

    every single social justice movement of the last century (as an example) was funded by rival elites [to whoever was in power at the time]. then whitewashed to pretend to be ‘this is what the people wanted’. this is basic left wing agitation nonsense.

    happily, several factions worldwide are starting to realise this. the world is getting a lot more interesting, isn’t it.

  15. Rioting with pitchforks doesn’t work. You should know this from all the riots we’ve had all over the world. If you have no weapons you can’t do jack shit. Look at Occupy Wall street for example, or the the riots in South korea with millions of people. NOTHING HAPPENED!

    The only real way to win is via financial warfare. Tools such as decentralized anonymous and untraceable crypto-currencies (e.g. Monero/XMR) or getting your money out of the banking system in other ways that provides pressure to the fractional reserve banking system.

    • Mining BoganMEMBER

      It won’t just be recent arrivals. Why should our kids stay? All they’ll be doing is paying for the sins of their parents and grandparents.

      They’ve been given spoonfuls of misery. They’ll leave too.

  16. Agree Leith, there should be enough kindling there for the millennials to participate more. Maybe one of the issues is simply that some kind of solution / platform hasn’t appeared yet.

    However I doubt it’s as simple as just getting younger people in parliament. To me this is about a dynamic between how the media interacts with the political class, how the political class interacts with media.. add the major donors too. If a political group can’t change the dynamic of how they interact with the media and reduce their need for donations then I would expect they will have little freedom to move once they get in.
    If any of you have done BJJ you’ll know it absolutely matters how you are interacting with your opponent..and that ultimately is a contest over who has control of that interaction.

  17. There is little evidence that the incoming Shorten Labour government will tilt the compass in any meaningful way towards the millennials. The seven inequities listed by LVO in the above post (plus many others) show every sign of remaining “as is” under an ALP led government.

  18. The most effective civil-disobedience action Millennials could take, is to secretly organise co-operatives to legally buy farmland outside “urban growth boundaries”, and do “off-grid” developments of low-cost housing for themselves – and defy the authorities to tear them down. $50,000 – $100,000 per house would be perfectly possible, especially when small sizes – not dissimilar to what Millennials are being forced to live in anyway at exorbitant rents – are used.

    This course is not possible in the UK, where the authorities protect the urban-land racket by vigilant and draconian policing of “illegal construction”. But in Australia I believe no-one has thought this through – unfortunately that includes the Millennials themselves. Often Millennials are voting for the very kind of politics, the enviro utopian-planning sort – that is responsible for their plight. On that, it is hard to be sympathetic to them.

    • This isn’t easy. One house per farm block and if want more then need to subdivide which equals high set up costs. Legally forced to choose two or buy in a limited supply market with multiple artificial demand boosters.

    • I like the idea Phil, but who pays for the infrastructure? The town water, the poles and wires, the mobile phone towers, the NBN, the gas lines, the sewerage and storm water drains, the arterial grid. etc. Sure, some of this can be dispensed with if genuinely living off grid, but not all?

      • There are people all over the world who, as a class, are forced to live outside the formal, legal housing market in perpetuity, because of entrenched corruption over urban land supply and infrastructure development. Most “developing nation” cities have a constant 50% of the population stuck in these conditions, and this is inevitable unless they eliminate the racket in urban land like the first world did for several decades, when everyone got to own their own home if they wanted to and it was increasingly a decent one.

        Something has to give when first world nations revert back to the pre-1930’s, pre-automobile rigged urban land market. We have the ability to do much better “informal housing” than they do in India and Brazil. Even there, if you read a good authoritative book like “Housing Policy Matters” by Shlomo Angel et al, it is surprising how sophisticated a lot of “black market” development is becoming. Because it is so “normal” there. The corruption in the establishment is normal, and the corollary is that civil disobedience is also normal, in the form of black markets, even for civil engineering.

    • I’m not sure becoming developer Triguboff/Bob Day’s in miniature and adopting the self serving anti-state anti-planning fantasy of the developer lobby is a great act of civil disobedience frankly.
      Better place to start would be to junk the bitcoin loving, identity driven libertarian rubbish. Copy and paste the post war social democratic program.
      Maybe start an anti-individual identity movement with a sole focus on rearranging bank accounts and a total ban on discussion of identity issues. Once upon a time it would have been called a working class movement. Oh but you can’t say that anymore, it’s not “cool”

      • What developers have a “self serving” libertarian fantasy? They either have to compete for buyers of systemically affordable housing because low cost land is allowed to be used – or they have to participate in a rigged market where the costs of sites is exorbitant, they are having to compete against speculators, cyclical volatility is greater, and their own risks are increased.

        This is an issue of “people who love working in rigged markets”, because they know how to game the system, have the best lawyers, the right inside connections, etc; versus those who are quite happy to compete in a market where the finished product is entirely “value added”.

        No developers anywhere are lobbying for liberalisation because they are all hostages to the racket – to stay in business, they own sites that they paid grossly inflated prices for, and liberalisation would bankrupt them overnight. Hugh Pavletich in NZ is a rare example, he quit the industry to become a reform advocate. His developer colleagues aren’t lining up to support him, quite the contrary.

      • The fantasy is in thinking land use can ever be liberalised. It’s a self serving myth that developers push. Liberalise planning.. what they mean is make planning decision in their interest.

      • You’re completely blind to the main beneficiaries being incumbent land owners, land bankers, speculators, big property investors, mortgage lenders and the finance sector????

        In your crass ignorance behind your smokescreen of “superior wisdom” bluff, it is always those evil “developers”, those evil developers, those evil developers – the people who actually do something useful as a class, even if some of them are also members of the speculative class. The ones who are honest providers of services in response to demand, and haven’t got the political connections and the evil cunning to join the game, have gone out of business. Most of them started as honest blue-collar tradesmen. Your spite towards this “maker” class of people (versus the takers) is typical bottom-feeding lefty stuff.

        Typical ignorant lefties are always destroying what is good (eg about markets) and at the same time enabling the worst evil. Your own sugar daddies like Soros and the Rockefellers with their interests in property and finance, are playing you like the world’s biggest useful idiots, which is what you are.

      • I should also have said, I agree with you that “developers” who know how to game the system and survive, are always pushing for special permissions that are advantageous to them alone, but that is not a counter-argument to what I am saying. Those people are among the gamers and rent-seekers within the framework of the racket enabled by regulators and planners. I am arguing for liberalisation that leaves everyone in the position of having to compete. Median-multiple-3 housing markets have never been achieved any other way, and were achieved that way for decades. We don’t have to re-invent anything, we just have to undo the retrograde, evil central-planning overkill (actually a triumph of the rent-seeking class) that has arisen in the last couple of decades.

      • The capital cost of the the land is irrelevant what matters is the holding cost (especially incl. tax) and the rate of real appreciation in the land while it’s held. They’re not using the land they’re reselling it. This myth about the cost being important doesn’t stand up to analysis. No different to any other wholesaler cost doesn’t matter, margin matters.

  19. I wonder if the Affordable housing party will get many votes at the next election. I could see lots of renters and young people voting for them just to swing some weight against the major parties.

    The party’s policies include:
    • Phasing out negative gearing and capital gains discount on investment property sales
    • Stopping overseas buyers from buying Australian properties
    • Taxing properties left empty by investors
    • Cutting down immigration to 70,000 annually
    • Banning full time Airbnb properties
    • Ending “no fault” evictions for rental properties

    • For me
      #1 Sustainable Australia party
      #2 Affordable Housing party.
      #3 Labor
      #4 PHON
      #5 Greens
      #6 No idea…

  20. This is probably the main reason Millennials are so heavily invested in bitcoin and cryptocurrencies (both from a financial perspective and development perspective). Having a store of value that cannot be controlled by a central body and the injustices of government policies makes bitcoin a very attractive offer. Honestly, when they have grown up with technology entirely integrated within their lifestyle its hard to see how it could go wrong.

    • Many new ICO’s are just junk, however, many utilise the ethereum network. Have a look at the ethereum enterprise alliance. JP Morgan is part of it.

  21. SSM should have been put to bed 10-20 years ago. It’s because of the boomer generation governing for their own ideals rather than the younger generation that we still have this issue in Australia.

    As I am of age that the article points out, I wish Australias youth of more organised. I would be out there without question. Maybe it’s my European ancestry and that I’m a glass half empty rather than half full personality.

    • The glass is always full. Even if it’s perceived as empty by many, it’s still full of O2. It’s clear, younger generations are brainwashed and can’t think for themselves these days because of the techniques inspired by edward bernays that have been utilised over several decades and technology. The older generations have been using to their advantage and gain. People need to break away from technology addictions, wake up and fight for their future. They need to protest what is happening in their own country that concerns them and their future rather than protesting crap that’s happening in other countries. Probably too late anyway, may the strongest and informed survive what inevitably approaches.

  22. its obvious we are all just a bunch of whiners. Its easy for young people to get a house.
    See these kids did it.
    A MAN from Sydney’s hills district may just be the best grandpa going around — after he bought a block of four apartments in Neutral Bay for his grandkids at auction last night.

    See!! See !!! thats how its done. so everyone stop being lazy and dig up your grandpa and get him to buy you an apartment block.

  23. Very weird attitude I’m noticing here on MB. People blabbing about SSM and frothing at the mouth about some ‘gay agenda’ or trans folk, gender identity ir whatever else, failing to see the irony of their constant blabbing and accusing the media of focusing on these topics. The obsession is quite telling.

    I don’t know about you, but I have the attention span to focus on the shit that matters while still supporting SSM on the side. Legalise it, get it over and done with, who cares. I’d much rather move on to other problems in the world.

    People seem to love casting SSM and other topics as a ‘distraction’, when all they’re really doing is showing thinly veiled bigotry and stupidly drawing even more attention to it. It becomes a self fulfilling prophecy.

    MB seems to be going full Zerohedge.

  24. Gotta love the “arguments” by property hoarders about cash rates being above 15% back in the day and how lucky FHB’s have it for cash rates to be lowest in history. Back then, they would have held off from buying property and their cash savings would have been getting awesome interest. Any arguement they make these days is just pandering for their own interests to trick FHB’s into property to try to help inflate their investments further at the peak. Anyone with a little ‘know’ can see right through it all.

    • Correct. The homeless need a seat on a bus to sleep for 6 hours, not a opportunity to save up when homeless live 30 years less. they need it now. Homeless men in Australia don’t live with their families as they have no home and the family is in care.

  25. Hard to revolt when you don’t exist in the first place….

    disheveled…. just to clarify the whole generational thingy is a meme born out of marketing and advertising.

  26. How will supporting political parties that support youth even work? If our youth’s party wins a bunch of yokes the major political parties will just form a Coalition; the Lib-Labs.

  27. Related to your second dot point on failure of business to train graduates but prefer skilled migrants and your recent post on IT sector skilled migration abuses,, is it time for IT graduates to MOUNT A CLASS ACTION? The class action would be directed to those lending students money for IT study with the knowledge that they would not secure employment as the skilled immigrants would take the IT jobs: That may be fraud or unfair trade practice. Politicians would have some protection due to parliamentary privilege unless an equity court action were brought (guess). Government representatives speaking outside of parliament wouldn’t have the privilege protection and under contract law there is scope for litigation as the loans are what is known as reasonable consideration. Problem: 10 years ago British legal firms moved to Australia on mass, and so you are not dealing with legal infants and the whole foreign national parliament stacking mess may be part of this too. Also pray to God for our youth.

    • More on the legals. I’m 100% sure the Gov General is legit and don’t know anything about the background / citizenship of the present High Court. However, if it comes to that Gov. General Cosgrove can remove High Court appointees.