Housing Market Severly Distorted

Plenty of people Rentvesting now.

 

It may be the only option for some

 

Curious if there are statistics for Rentvestors ?

Cheers.

 

Dunno. My metric is newspaper articles... the lowest form of evidence!

 

Sydney is a great city but its not comparable to NY and Tokyo as their populations are literally more than 10 times the size. Its laughable that we now tell ourselves this because of the crazy house prices.

 

Lol it is laughable that Syd is compared to true global cities. Only people in Aus would believe that's true. That's like Kiwis believing Auckland is like New York...

Let's run some stats. Tokyo is largest economy in the world, has 40m people, the most millionaires in the world, and it's GDP is bigger than the entire Australia. And no it does not have a declining population. It's also where most Chinese capital has been going in last 24 months.

NY is second largest economy in world, with 20m people. Also has a growing population. HQ of most truly global companies.

Hk has 8m people, bordering Shenzhen which has another 8m, and it has a 0.5m housing shortage and 70m tourists per year (that's 3x Australia + 1 NZ visiting per year), in 1.5 hour driving distance to Guangzhou/Foshan, another 30m people. Also has a growing population. HQ of most companies in Asia Pac region

Every time I go to any of these 3 cities I never stop to be amazed. And guess what it is cheaper in all 3 to buy an abode than Sydney.

 

^ I know what you're saying the sheer scale of Tokyo needs to be experienced first hand. It's like taking a photo skyline of an Australia capital, sticking it in photoshop and simply copying and pasting off into the distance. The scale of public transport alone and it's efficiency was jaw dropping.

Though I'm not sure pricing as a ratio to population is something at aligns. It's not an infinite correlation scale. Though the way Sydney storms one could be lead to believe otherwise. lol.