ok gang! we kind of always knew that the system was cooked and protected by the vested interests – but now it is official!
https://www.abc.net.au/news/2026-04-10/australia-economy-underpinned-by-housing-paul-schroder/106550386
ok gang! we kind of always knew that the system was cooked and protected by the vested interests – but now it is official!
https://www.abc.net.au/news/2026-04-10/australia-economy-underpinned-by-housing-paul-schroder/106550386
27 Comments
Fork found in kitchen
> He says Australia spends way too much on housing and “not anywhere near enough” on productive investment.
I’m shocked. I mean it’s pretty much impossible to get a business loan in this country unless you back it with your property.
> Paul spent 20 years working in the Australian union movement before joining AustralianSuper. During this time he worked for the Finance Sector Union.
It’s always funny the CEOs of massive super funds in this country are some random union official.
You could say we created a false economy. How stupid could our governments be.
The Housing Pozi scheme needs new ‘victims’ …. sorry investors so the established ‘investors’ can cash out their total ‘hard worked’ and ‘truely earned’ gains…./S
Ponzi scheme with a ponzi scheme.
It would already be cheaper if they hadn’t allowed AirBnB to operate in our country in the first place.
I believe the NZ economy crashed the moment they tried to lower house prices.
It is these investors that are the cause of high house prices and not immigrants, but everyone is so personally invested in their own home that they resist anything that would actually lower house prices.
Boomers will say. Back in ma days. I worked my ass off for 2p a day. Also Boomers. Theres were the golden years! Yes like many of us new bloods near poverty is golden years alright… 🙄
Worst superhero ever
Housing isnt a productive use of a nation’s capital.
> “And I reckon there’s a sweet-spot where super could fund things, or help fund things, that might help people be housed more quickly,” Mr Schroder said.
Didn’t know super entities were looking into housing the homeless. Wonderful.
When you convince everyone to invest in the property market so any drop will sink the economy you gotta keep pumping it up
The overlords will never let the bubble burst because they have far too much money tied up in real estate investment
He’s right but there’s a significant part of that underpinning comes from commercial property, too.
Because it’s a speculative asset, with tax incentives for wealthy people, that’s the reason.
>”Have you thought about something like, when someone joins AustralianSuper, one of the options would be that you would build them a house and they would pay it off during the course of their working life, and so by the time they, as part of their super savings … would pay off the house, and by the time they retired, they would own it?
>”So you’d actually go and build houses for your members that they pay off during their working life?”
What about public housing?
The current war in Iran is showing the whole world just how much of an advantage countries which make stuff have. We should be learning from this. We should be encouraging Australian businesses, especially those which manufacture things – any kind of things. This can be done by rejigging our tax incentive system, so that instead of incentivising investments in houses, we incentivise investments in businesses. It would be the patriotic thing to do.
Every year we fall short of housing targets. Can’t imagine this Ponzi Scheme improving.
When a suburban shit box costs more than some amazing brick houses in fucking Edinburugh city centre. There is an issue.
Me and my Scottish mate compared listing’s the other day. It was eye opening.
> Australia’s entire economy is built on housing, and operates on a “myth” that we can keep generating wealth by constantly inflating housing prices
Other countries should learn this one simple trick!
It underpinned the US economy in 2007 too…
Blokes a real genius economist, huh…
The Communist Party of China made the deliberate choice a number of years back to start to unwind the overinflated real estate sector which was becoming a handbrake on upwards mobility and detracting from more productive investment. Mainstream western economists declared that this was the end of China’s economic miracle, if not a harbinger of total economic and social collapse. Yet the fundamental wisdom and necessity of this transition has been borne out by results, and China stands to reap the benefits of taking that bitter pill for decades to come. The bankers and financiers who have captured western political systems will not lead us to a shared prosperity. They exist to serve only themselves and the handful of elites they represent.
Ok. Nothing like an oil shock for this fossil to be educated. There is no avoiding it.
It will get cheaper when the economy crashes
Fuck that shit.
Housing must become a right.