[Podcast] Why the Band-Aid Solutions from Politicians Won’t Solve Our Housing Woes

Today I'd like to explain to you why our housing crisis is going to expose some of the flaws in the quick-fix solutions our major political parties are telling us is going to solve the housing crisis.

I was writing a blog about this and thought I'd got to discuss it with you now.

As a regular listener, you'd know I normally have guests on the show, but it's just me and you every now and then.

And that's what this show is today, as I want to get out some thoughts about why our housing crisis will become a fierce political battle, and that could have major implications leading right up to the next election.

Both parties the major parties have come up with some ideas and they just don't cut it.

So, if you're interested in property, as an investor, or as a home buyer, I hope I'm going to give you some insights into what's ahead and what not to believe when the media tells you.

Overcoming Australia's housing market hurdles

In this episode, I examine the flawed quick-fix solutions proposed by politicians and discuss the importance of understanding the market's cyclical nature.

For those feeling the pinch of rising rents and home prices, we break down the cyclical nature of property supply and demand, the challenges developers face, and the impact of interest rates and construction costs on new housing projects.

Learn why the market is becoming increasingly unaffordable for renters and first-time buyers and why more families are relying on generational wealth to enter the market.

Why major political parties' proposals are ineffective in solving the housing crisis

• • Experts say decreasing immigration would backfire by worsening the existing shortfall of builders, for example
• The types of housing people want have changed as well
• Long-term solutions are needed due to demographic changes and pent-up demand influencing the housing market
• The challenges developers face, including high construction costs and labour shortages
  • How these challenges contribute to the unaffordable housing market
• How generational wealth is becoming increasingly necessary for families to enter the housing market
• Why government intervention is necessary to provide social housing and bridge the wealth gap

Takeaways from my mindset message

• Delayed gratification is a key habit for financial success and wealth creation
• Strategies for learning delayed gratification
  • List your money goals
  • Tell them to a mentor for accountability
  • Ask yourself whether you want or need something you’re thinking of buying
  • Establish a waiting period before buying
• The science behind delayed gratification is illustrated by the 1972 marshmallow study

Links and Resources:

Michael Yardney

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Some of our favourite quotes from the show:

“You see, anything that's easy and popular won't work to solve housing affordability.” – Michael Yardney

“Our population has just been growing so strongly, and when coupled with the changes in people's housing preferences it's just resulted in a worsening situation for renters and first-time buyers.” – Michael Yardney

“Success in nearly every field requires you to ignore something easier, in other words, delaying gratification in favour of doing something harder.” – Michael Yardney

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