we got a list today of the most
expensive the most unaffordable cities
for housing in the English-speaking
world and can you believe it side note
yes you can that three of the cities in
the top 10 are in Australia Hong Kong
was the number one most unaffordable uh
City in the english- speaking world but
it then goes second Sydney what a
surprise it says on the screen that
adela's the first it's not but we'll
ignore so Sydney
Melbourne is seventh Adelaide is 9th and
Brisbane is 13th so in the top 15 cities
in the world with the most unaffordable
housing yeah Australia has four of them
uh anglicare Australia executive
director Casey Chambers spoke exactly um
not the singer I don't think but I I
kind of wish it was she says it's the
worst it's ever been this is not
hyperbole it is Australia's New Normal
results of never been so bad for a
person on the minimum wage with
affordability harving over the last year
now bugger being on the minimum wage
it's not even good for someone who's
earning hundred even $150,000 a year in
a city like Sydney I think that the
latest numbers that we saw was something
like for for an average house to be
affordable in in Sydney you've got to be
earning at least
$186,000 it is it it is beyond a joke
now even double income White Collar
professional families now they are
saying uh struggling to and I'm not
surprised I'm on a very good Wicket
these days um and I am honestly there's
not a day goes by that I don't stress
about going backwards and that you know
it's and and then that if and if I'm
thinking that you know right at the top
of the pile just imagine what people who
are just you know eing out an existence
week to week are thinking um I know from
you know salvos and Vin and food bank
you know we've got we got people you
know otherwise you know once we're
perfectly average normal middle class
people going to Vin or the salvos
they've never never had to rely on
charity ever before and now they're
going there literally just to ask for
for food so they can put literally to
put food on the table now how that can
happen I mean food bank did this
incredible report that we wrote about a
few months ago um where you know vast
numbers of thousands upon thousand
family a huge proportion you know one in
five I think at times were struggling to
put food on the table or were going
hungry so that their kids could eat and
wouldn't know that there wasn't enough
food for everybody um it is absolutely
staggering having said all that Adela is
awesome and I'm so glad that it's
finally getting the recognition of Des
I've said for the last 30 years Adelaide
is the city of the future it's like
Melbourne before Melbourne got too cool
for school you you are so right and look
I always prosze about how good Adelaide
is being a former Adelaide boy and like
it's quite staggering to see see
Adelaide on a list like this you go you
know normally you think of oh Adelaide's
a lot cheaper than everywhere else and I
used to tell everyone that it was but
it's not now fundamentally because
people people have packed up from places
like Melbourne and Sydney and they've
gone to places like Brisbane and Adela
cuz they realized if you were an early
adopter they realized well you know I
could spend $2 million on some you know
three to in in Sydney if I'm lucky or
for $2 million over in Adelaide I've got
a really nice house on a on a good piece
of property really close to the city but
of course people realized that so they
started doing it quite significantly and
now all the prices have gone up which is
great for me cuz I own property in
Adelaide so keep going there and keep
pumping the city up but and it's great
if you own property in Adelaide before
that but people in Adelaide who were
some of the only ones in the country who
actually felt growing up that they might
be able to buy a house when they left
school and and went to work even they
now are going well heck I might as well
be in Sydney it's that
bad no you don't want to be in Sydney
this is actually the 15th time in 16
years Sydney has made the top three of
the most expensive cities in the world
not the country in the world to try and
buy a home to break these uh numbers
down Sydney has the Sydney prices are
13.8 times the average income again who
the heck can afford that Adelaide is the
same as uh the national average which is
9.7 times the average income
interestingly this annual demographia
study said that there has been a strong
association between severely
unaffordable housing and net migration
so I know you disagree Joe but this
study is on the money I believe and it
spoke about at length about the
deterioration of the middle class as a
result and that is what we are looking
at here in Australia as more and more
people simply cannot afford a home for
decades the whole bu Mark of a healthy
middle class was the ability to be able
to build a home and as early as the
1990s fascinating report read it if you
can as early as the
1990s they say that the average price of
the home was just let me get this right
three times or less than the average
household income so in the space of 30
years we are now looking at three times
plus more than that and and no nobody
can afford it no that's right I was ex
exactly I was going to say just that I
remember looking at this years ago so in
the in the 80s and even the early 90s as
you say uh it was the average house was
three times the average annual wage so
in other words if you worked for three
years and didn't spend any money didn't
eat or whatever all took all that money
you'd be able to afford to buy you'd be
able to buy a house outright and now it
is you know again 13 times in Sydney so
you would have to ear to to be able to
afford to buy a house you have to work
non-stop not have anything else 40 years
um for 13 years which is almost as long
as you know some home loans were there
in the day it is it is crazy and and of
course if if you can't afford to buy a
house the only alternative is is for you
to rent and you want to hope you're not
renting in Mery Beck Council in
Melbourne at the moment because my God
they voted last night to investigate the
idea of charging double rates on rental
property so if you are a property
investor who owns a house or a unit or
whatever in in MarBeck Council and let's
never forget that Marbeck is a madeup
name they they um changed it from
Morland Council to Marbeck Council
because Marbeck was meant to be some
Aboriginal word um and then an
Aboriginal Elder told the herald son
that Mary Beck didn't actually exist in
the language so so just let that sink
it's a nonsense this is the sort of
virtue signaling Council we're talking
about here right so that they now want
to charge landlords double rates and the
only way they can do that and this is
how they're going to try and get away
with it is to then charge people who own
their homes outright half the rates they
can at the moment because in Victoria
they have rate capping so the council is
only allowed to take a certain amount of
money out of rates that's mandated by
the state government so in order for
them to charge landlords double rates it
means they have to charge actual
homeowners half rates and if you're an
actual homeowner you probably go oh
that's great I I'm really happy I'll
I'll take my half rakes and why wouldn't
you but just think for a moment the
34.7% of households in MarBeck that are
renting who do you think is going to end
up paying this double rates it's not
going to be the landlord it's going to
be the renter so there's the council all
high and mighty and and the counselor
who uh who got this over the line James
conin he was a former green himself now
he's he's independent I know so so he's
he's saying we're going to we're going
to charge him double and that'll get all
the property investors out of merryck no
they're just going to pass the cost on
to the renters who are already paying
through the nose to leing your councils
they found another way to make a they
couldn't do that Caleb because of course
if they jack up the rents in all these
rental properties then the renters are
just going to go out and rent somewhere
else cuz there's so many other rental
properties on the market it's not like
they're completely stuck where they are
and have no choice but to pay the higher
rent because the rental market is
tighter than a oh you can't say that on
television well his he's very very tight