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Bring on the Housing/ University Double Super Duper Crash! By James Reed

     Instead of developing a sustainable economy based on sound nationalistic principles, as Australia looked like having in the 19th century, or  at least in the pre-World War II era,  we went down the road of mass migration, building houses/ building anything with walls for our masters in the building industry, and later, the great circus of tourism and the overseas student education racket, where politically correct universities engaged in bringing in fee paying students, who were milked, and then fast tacked as migrants as part. Sum it all up and the whole show is simply the Great Replacement of Anglo-Saxon Australia, almost complete. Well, the corona madness, whatever the anarcho-tyranny aspects, does seem to have dented this globalised Asianised mass society, and there is no reason not to believe that the next plague will wipe this world view off the face of the earth.  That will be especially so if the elites start pegging out.
  https://amp.smh.com.au/business/the-economy/housing-construction-poised-to-fall-off-a-cliff-20200520-p54uu4.html

“The Housing Industry Association’s (HIA) dire forecasts for new housing construction make for chilling reading both for building materials companies and for the broader economy. Housing starts in Australia had already moved into decline in the 2019 financial year but the HIA sees the COVID-19 pandemic pushing these numbers over a cliff to land down 30 per cent and with it half a million jobs. To put this into perspective, in 2018 Australia was building more than 230,000 residential dwellings a year. If the HIA predictions come to pass this number will fall to about 111,000. "The shock to the economy from the halting of overseas migration, the absence of student arrivals and uncertainty over the domestic economy will see the national market at a lower point in December 2020 than it was during the 1990s recession," according to HIA’s regional director, David Bare.”

  https://7news.com.au/business/property/sydney-and-melbourne-property-prices-could-fall-by-50-per-cent-as-debt-bubble-set-to-burst-economist-warns--c-1043126.amp

“Experts are warning house prices in some parts of Australia could fall by up to 50 per cent, with a massive economic downturn to hit most of the world. Financial commentator and US author Harry Dent predicts the coronavirus pandemic will trigger a debt bubble to burst. The crash will have significant effects on the property market in Australia. “It’s the crash of a lifetime,” Dent said in a YouTube interview with Digital Finance Analytics Principal, Martin North. “And conversely, if you play it right, it’s the investment or the sale of financial assets of a lifetime.” Dent says people with investments will lose when the bubble bursts.”

     I like how financial whiz kids always find a silver investment lining in any disaster. I hope that this one does not give these elites any exit.
  https://amp.sbs.com.au/v1/article/international-students-rethinking-plans-to-study-in-australia-if-not-allowed-to-return-by-second-semester/27328fbf-924a-41d2-b8ff-f4ee4c342709?amp=1

“Almost a quarter of international university students who are enrolled in Australia are still overseas and it's feared many may not come back. International students stuck in China are pleading with the Australian government to let them return in time for the start of semester two in July, saying their education and careers are at risk. Chinese student Greta Fei was due to return to Melbourne on 21 March - one day after Prime Minister Scott Morrison announced a ban on all non-permanent residents or citizens entering the country in a bid to slow the spread of the coronavirus. Flora Zhao, a law student at the University of Sydney, is also stuck in China after finding herself on the wrong side of Australia's travel ban. With her tuition costing upwards of $44,000 per year, Ms Zhao said it did not seem fair that the Australian Government had not yet given international students a firm return date. "I used to go to class every day and see my friends and teachers, now it's just my laptop, my room and the fact that I'm thousands of miles away from where I should be," she said. "There is no reduction in fees at all, and the funny thing is we still pay administration fees, but I haven’t been on campus this entire time, so exactly what service have I used?"

     Don’t get me wrong, I do not hate the international students, the few I know are nice. But, it is the Australian system which is exploiting them as cash cows, and they should study in China instead, which has better universities than we do anyway. As I have said for years, the universities need a radical deconstruction. Closing down in fact, more so than at present. If what we have experienced is so good, then we need to go further.

 

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Sunday, 05 July 2020
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