Post to Facebook on 12/11/2018 at 5:00 PM
Commenting on “Homes slide a serious risk to the Victorian economy”
https://www.theage.com.au/national/victoria/homes-slide-a-serious-risk-to-the-victorian-economy-20181129-p50j4p.html
Post to The Age (2/12/2018) on 2/12/2018
Commenting On "Homes slide a serious risk to the Victorian ecoconomy"
https://www.theage.com.au/national/victoria/homes-slide-a-serious-risk-to-the-victorian-economy-20181129-p50j4p.html
It is always easy to be a guru or expert in hindsight. Too many people were drown in huge sum of money, including the state governments, due to housing booms in various states. They blank out the negative impact of downturns Like ostriches burying their heads in sand,
Obviously it makes good reading when dollar sign flashes across one’s face, whether the story is about boom or bust. What makes real estate reading less attractive is about the human costs, or social costs that probably outstrip any gain in the long run.
Victoria state government benefited billions over the last few years, which helped enormously in infrastructure expansion, improvevent in the safety on roads, such as removal of railway crossings, and construction of underground train stations. It is definitely a great effort, and I give my thumb-up for it.
However, good times do not last forever, and I am greatly concerned that Victorian economy will go into rail spin in the next few years, and the re-elected Labor Daniel Andrew’s government will not be able to keep all his promises, and take the state into a big Black Hole of debt. Victorians will be slaves of China, moneywise!
Homelessness does not appear overnight, and the blame is always on mental illness and drugs. Why do people suffer from mental illness or go on drugs? The latter problem is more complex, and may Not has direct link to the discussion.
Has the artificial 5% unemployment rate anything to do with mental illness? My estimation of a normalised unemployment rate is close to 15-18%.
I have witnessed several relatives and friends lost their jobs years ago. Thank goodness, they found employment and lived normally again. They went into depression, short in temper, and cried for financial help without answer.
Rates on suicide, divorce, family violence are not published regularly, but these statistics are more than likely reflect on the state of economy, and link to what the article mentioned, the downturn of real estate industry.
Mental health does not affects only the older adults, but also many Generations Y and Z and millennial. The fear of losing their jobs due to companies business decline presents a bigger stress than anything else, and the mental and psychological well-being deteriorate accordingly. The health and medical costs will drain a large chunk of the state government budget, if they really care.
I started regular Real Estate blogging since 2009, and my readers would have read about my predictions on the rise and fall of the real estate market months ahead of every of occurance. I am not Nostradamus nor a doomsayer, but a spherical thinker. Unlike many experts who concern more about macro economies here and abroad, and do not factor in micro economies of the people, the plight of the people, immigration and policies of governments.
Thank you for reading.
Commenting on “Homes slide a serious risk to the Victorian economy”
https://www.theage.com.au/national/victoria/homes-slide-a-serious-risk-to-the-victorian-economy-20181129-p50j4p.html
Post to The Age (2/12/2018) on 2/12/2018
Commenting On "Homes slide a serious risk to the Victorian ecoconomy"
https://www.theage.com.au/national/victoria/homes-slide-a-serious-risk-to-the-victorian-economy-20181129-p50j4p.html
It is always easy to be a guru or expert in hindsight. Too many people were drown in huge sum of money, including the state governments, due to housing booms in various states. They blank out the negative impact of downturns Like ostriches burying their heads in sand,
Obviously it makes good reading when dollar sign flashes across one’s face, whether the story is about boom or bust. What makes real estate reading less attractive is about the human costs, or social costs that probably outstrip any gain in the long run.
Victoria state government benefited billions over the last few years, which helped enormously in infrastructure expansion, improvevent in the safety on roads, such as removal of railway crossings, and construction of underground train stations. It is definitely a great effort, and I give my thumb-up for it.
However, good times do not last forever, and I am greatly concerned that Victorian economy will go into rail spin in the next few years, and the re-elected Labor Daniel Andrew’s government will not be able to keep all his promises, and take the state into a big Black Hole of debt. Victorians will be slaves of China, moneywise!
Homelessness does not appear overnight, and the blame is always on mental illness and drugs. Why do people suffer from mental illness or go on drugs? The latter problem is more complex, and may Not has direct link to the discussion.
Has the artificial 5% unemployment rate anything to do with mental illness? My estimation of a normalised unemployment rate is close to 15-18%.
I have witnessed several relatives and friends lost their jobs years ago. Thank goodness, they found employment and lived normally again. They went into depression, short in temper, and cried for financial help without answer.
Rates on suicide, divorce, family violence are not published regularly, but these statistics are more than likely reflect on the state of economy, and link to what the article mentioned, the downturn of real estate industry.
Mental health does not affects only the older adults, but also many Generations Y and Z and millennial. The fear of losing their jobs due to companies business decline presents a bigger stress than anything else, and the mental and psychological well-being deteriorate accordingly. The health and medical costs will drain a large chunk of the state government budget, if they really care.
I started regular Real Estate blogging since 2009, and my readers would have read about my predictions on the rise and fall of the real estate market months ahead of every of occurance. I am not Nostradamus nor a doomsayer, but a spherical thinker. Unlike many experts who concern more about macro economies here and abroad, and do not factor in micro economies of the people, the plight of the people, immigration and policies of governments.
Thank you for reading.
