June 4, 2025 • 27 mins
Australia's housing market is being strangled by the NIMBY (Not In My Backyard) phenomenon, with the average first home buyer age jumping from 34 to 37 in just three years. This devastating trend shows how local opposition to development is driving up prices and pushing homeownership further out of reach for young Australians.
This episode touches on:
• The NIMBY mindset
• Sydney's poor urban planning compared to Melbourne's more efficient grid layout
• Top 10 Sydney suburbs with less than 1% housing growth, including Glenmore Park and Illawong
• Australia approving only 500,000 dwellings while welcoming 1.34 million new residents (2022-2025)
• Housing prices skyrocketing – example of Bossley Park property gaining $160,000 in just 13 months
• Average Australian savings dropped from $39,000 to $29,000 in three years
• Overregulation and excessive red tape slowing development approvals
• Strategic property investment as a potential solution for individuals facing the housing crisis
If you need help with property investment or financial advice, contact us for guidance.
Follow us for more property news and mortgage advice!
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
the age of the first home buyer in australia in 2022,
it was 34.
Three years later, it's 37.
It's paralyzing, it's cripplingto the economy.
First time buyers where do theygo?
And the answer is a duplex inbelmont 10 years ago.
You're looking at 800 to 900000.
You can't get anything forunder like two and a half
million belmore, belmore.
(00:20):
It's such a funny market rightnow.
It's very strange.
There's reason for developmentsbeing rejected in these areas.
It's because of NIMBYs.
Speaker 2 (00:29):
Are they ruining the housing market?
All signs point to yeah.
Speaker 1 (00:33):
It's an acronym, not in my backyard.
Not in my backyard, butunfortunately this does affect
the housing market.
I've heard numerous people saywe've got to bring housing
prices down, We've got to getrid of negative gearing.
How do we change this and howhas it affected Australia?
Speaker 2 (00:52):
Welcome to the Finance Show with Joe.
He's Joe, I'm Michael, andtoday we're going to be talking
about NIMBYs.
And are they ruining thehousing market?
All signs point to yes,apparently.
Speaker 1 (01:03):
I don't know what opinion to give because, um, I'm
gonna upset someone oh, yeah,yeah, yeah, definitely gonna
upset someone with this one.
Speaker 2 (01:11):
Before we get too ahead of ourselves, let's just
define what a nimby is.
For those who don't know I knowpeople like it's a buzzword
been thrown around.
But in case you don't know whatit is, it's a person who this
is the dictionary definition uh,the person who objects to the
sighting of something perceivedas unpleasant or hazardous in
the area where they live,especially while raising no
subject objections to similardevelopments elsewhere.
So, generally speaking, as anexample, let's say you're in
(01:38):
Vaucluse and the council hasdecided they want to put social
housing in the area.
Typically they're not going tobe happy about that, but it can
be like factory things as well,Like if they're putting up a
factory near your suburb, peoplewill object to that.
Speaker 1 (01:52):
It's an acronym, not in my backyard.
Speaker 2 (01:54):
Not in my backyard, it's all there.
Speaker 1 (01:57):
And I think just the acronym, like we could have the
scientific definition which?
Doesn't feel right, honestlycould have the scientific
definition, which doesn't feelright.
Honestly, it's over specifyingsomething that is very generic,
not in my backyard, and this hascaused such a commotion across
(02:17):
australia because we've had sucha halt to our development, our
application process,construction, being able to
provide housing for first-timebuyers, for investors, for
everyone really.
It's also much everyone, becauseif what you will notice with
(02:41):
NIMBYs is I hate using that wordbecause, like 10 years time,
I'm going to be a NIMBY, rightbut what you will notice is
they're a part of the olderdemographic typically, and they
don't like noise, they don'tlike being bothered, so they
don't want developmentsoccurring near their homes.
It's very strange seeing theway that they're protesting and
(03:05):
you will see the olderdemographic protesting being
like we need more housing, weneed to bring prices down.
Okay, we're going to go put ahigh-rise building in the middle
of Leichhardt, yeah, no, no, no, we can't do it there, yeah,
not there.
No, no, send them out west, andyou're just like….
Speaker 2 (03:21):
Because people work in the city.
You need to build thosehigh-density housing closer to
the city, not further out.
What's the point there?
Speaker 1 (03:30):
The way that Sydney is built is very interesting
because we've got so manyheritage buildings Like in the
inner west and stuff.
Yeah, we actually can't go thathigh.
If you drive all along I thinkit's Parramatta Road all the way
up to Sydney CBD, everything'sthree or four stories and then
one street back will be ahigh-rise building.
(03:51):
Yeah, yeah, yeah, but thatwhole area I think I'm thinking
of Newtown, I think I'm thinkingof… Like Enmore and stuff like
that, or Canterbury, okay, yeah.
So even all the way that fardown, you won't see high-rise,
high-density building to theeffect that you will see it in
other major capital cities.
(04:12):
When I go to Melbourne and I amthere frequently now, because
you know something that we'llreveal in maybe three or four
episodes Watch this space, watchthis hashtag They've got a lot
of high-rises on the way to thecity.
They've taken the time to planthe city and you can see it.
It's built like a grid.
(04:32):
Sydney was never planned to bea city.
You can see it's.
It's built like a grid.
Sydney was never planned to bea city, but they also haven't
catered or tried to fix the messthat they've created.
Speaker 2 (04:45):
Yeah, it's, it's.
It's one of those things whereit's you know driving in in
sydney, in the city, it'sconfusing if you don't know
where you're going.
Like it doesn't make sense.
Like at least melbourne it's agrid.
Yeah, you go turn right hereafter two stops, whereas sydney
you'll you'll be drivingstraight and you're like oh, you
just missed that ramp.
Did you not notice that thatslight off turn?
Speaker 1 (05:00):
you know the story about my wife.
She went viral for a tiktoklike 20 million views and um uh,
she got interviewed by thedaily mail because every time
she goes through the m8 or them5 she ends up on the harbour
bridge.
She's trying to go to uh, ouroffice in barangaroo or she's
trying to go meet up withfriends in balmain and she's
(05:21):
ended up on the north shore andevery single time she ends up in
mossman, having to turn aroundand come back.
She went viral for it and shewas getting random dms from
hundreds of people saying thishappens to me daily, it's
confusing and we haven't doneanything.
They've tried.
They've tried.
(05:41):
The issue is the voice that theindividual has, especially when
it comes to applicationplanning, development process.
The right to protest.
The voice of the individual isso strong in Australia that it
has affected people, theiroverall livelihood.
You know a house, no, a duplex,in Belmore 10 years ago.
(06:04):
You're looking at maximum$800,000 to $900,000.
Okay, it might be more, I don'tknow.
I don't have the stats in frontof me.
Yeah, you can't get anythingfor under like $2.5 million in
Belmore, belmore, me.
Million in Belmore, belmore, me.
Driving through Belmore, I havebeen there recently.
Lovely suburb.
There's still the remnants ofthe past there, but the houses,
(06:27):
the duplexes in Belmore arecomparable to Dromoyne which is
on the water.
It does not make sense to methat a suburb like that and no
offense to punchbowl, I loveyeah I'm from punchbowl.
I go to church punchbowlpunches, but that's.
It's right next to it.
(06:47):
It's right next to lakemba,yeah, where you have low
socioeconomic groups typicallynot associated with high
property prices.
But yet again, Belmore isperforming well above what is
expected.
Yeah, and that is just becausethere's no housing supply.
Speaker 2 (07:05):
Speaking of I've actually got a list of the top
10 suburbs that are building theleast housing in Sydney.
We could do it for every state,but it's going to take forever.
So, top of the list, glenmorePark.
Second, illawong, then ourfilming location, third,
harrington Park, fourth, windsor.
And then we've got Yaramundi,lawson, manai, wentworth Falls,
(07:30):
cromer and Springwood.
These are all.
The housing supply has grownless than a percent for each of
them.
Speaker 1 (07:38):
Illawong and Manawai.
I can somewhat understand.
We don't have a train station.
People don't want to live hereanyways.
No, I'm joking.
No, what it is is Illawong andManawai are surrounded by a
national park.
We've got a lot of trees inthis area, so to be able to get
anything approved is quitedifficult.
You will see vacant lots ofland in this area.
(08:00):
Go for double Patstow, okay,randomly Okay, but then you'll
get another vacant lot of landthat will sell for less like 10%
, less than the same size asPatstow.
The reason for that is Illawongdefinitely is not a
pass-through suburb.
It's a destination suburb.
No one has ever said tothemselves oh, I'm just going to
(08:22):
pass through Illawong.
Speaker 2 (08:23):
Yeah, I mean, before we started filming this podcast,
I didn't even know whereIllawong was.
Speaker 1 (08:29):
We've had very, very minimal development in this
whole area.
We've only got one apartmentblock and it took them forever
to get an approval and that'spossibly because of the
neighbors, because of the schoolthat's across the road from it.
There was a number of factors,but it took them five, six years
(08:49):
just to get it out of theground.
It was not an easy process.
Menai surprises me a little bitbecause, me knowing that suburb
, I know that there's potentialthere.
Problem is nobody wants toinvest in that area.
So there's two sides of thisWith Menai.
If I went and bought a block ofland in Menai, it might cost me
the same as it would in.
(09:10):
I'm just going to choose arandom suburb Punchbowl,
whatever Grand Acre the block ofland might cost me the same.
But to be able to get bankfunding or get any source of
funding, the developer quiteoften needs to go through a
pre-sales process.
How are they going to achievepre-sales when the people that
want apartments, when they wantgood work-life balance where
(09:35):
they can get to and from work in30 minutes, man, no one doesn't
have a train station.
So when I was working in town in2018, and this is before you
know had my car spot andeverything.
It would take me an hour and 40minutes door to door every day.
It's how the crazy morningroutine started, because I was
like… you were waking up earlieralready.
I had to to door every day.
Yeah, it's how the crazymorning routine started, because
(09:55):
I was like you're waking upearlier already.
I, I had to.
Yeah, otherwise I wouldn't makeit to work.
If I, if I left home 7 50, Iwould not be at my office until
9 40 am.
Um, yeah, it's a shit show.
So the developers don't want todevelop here because they won't
make their money.
They won't have people actuallycoming here and saying hey,
(10:16):
guess what, guys, I'm gonna putmy money in here and I'm gonna
do, I'm gonna achieve pre-sales,because they won't achieve the
pre-sales and they might go bustyeah so the developments that
you see around here, it's allsingle-story luxury houses
that's what.
Speaker 2 (10:27):
That's sort of what I've noticed because, like there
are, there are dwellings beingapproved, like although the
number of dwellings beenapproved in Illalong over the
last two years is only 12.
And then Menai it was 42.
Speaker 1 (10:38):
I wonder if one of those buildings was mine,
because I built here.
Honestly, it's definitely mine,I say that, I say like oh no it
is, it's definitely yours.
That's hilarious.
Speaker 2 (10:50):
Where else did you say so?
Harrington Park?
Glenmore Park was at the top ofthe list, so that's out west.
Speaker 1 (10:59):
yep, uh, windsor uh, yarimundi windsor surprises me
yeah, I mean there's nothingthere, though nothing in penrith
either.
Speaker 2 (11:04):
People still buy there yeah, but there's work
that you can work in penrith.
I'm joking, I'm joking about.
Speaker 1 (11:09):
I probably pissed a bunch of people off.
No, but, um, windsor, is that?
Speaker 2 (11:14):
that one surprised me the most, because there's a lot
of land out that way and Ithought that they would have
developed that I wonder if it'sbecause it's a big flood zone
and I used to live, not near it,but near enough that I got the
news.
Um, that place used to floodconstantly.
It's all built on a flood plain.
Well, that's the reason why.
That's what I imagine.
Yeah, that is 100, the riverthere always floods.
Speaker 1 (11:36):
But it's funny you bring up this top 10 list
because they all have somethingin common, it's all.
I can imagine that ABS has thestats on each one of these
suburbs.
I'm assuming the median age ismuch higher than what it would
be across the rest of Sydney.
Yeah, and there's reason fordevelopments being rejected in
these areas.
It's because of that thinking Iwant to retire.
(11:59):
I don't want anyone else tocome near me, I don't want to
hear loud jackhammers in themorning, I don't want to get
disturbed by concrete trucks andthat's it.
But unfortunately andfortunately, this does affect
the housing market.
Yeah, so I've heard numerouspeople say oh, we've got to
bring housing prices down, we'vegot to get rid of negative
(12:20):
gearing.
There's so many things,especially around this election
time, that just key hot words totry and get people to vote
other people in, and I don'tthink they really pay attention
to the cause and effect yeah,right, right, right Of the
arguments they're trying tofight for.
Oh, no, we need more housing.
Okay, let's build it in Redfin.
(12:41):
No, no, no, not there.
Speaker 2 (12:43):
Yeah, again, this is back to the NIMBY stuff.
Speaker 1 (12:46):
But that also gives an advantage to anyone that has
invested in those areas, thathas thought to themselves.
You know what?
I'm going to go put my moneyhere and I'm going to fucking
make some money here.
I did a video on Instagramrecently Friend of mine well,
not friend is a friend, actuallybut they purchased in Bosley
Park, oh yeah, and theypurchased for 1.3 mil and 13
(13:11):
months later it's worth 1.46 mil.
That's $160,000 in growth in 13months.
Later it's worth 1.46 mil.
That's $160,000 in growth in 13months.
That is, I think it wouldcalculate to $13,333 a month.
That they would make $160,000in growth is one and a half
times the median salary inSydney and I highly doubt a lot
(13:34):
of people are on 100 flat.
I, I believe more people are on90 plus 10k bonus or so
something like that.
Yeah, but I saw that statisticand I was like there is really a
lack of housing supply.
And then, and then 225 000dwellings and we had a net
(13:58):
migration of minus 84 900 people.
Okay, we had more people movingout of australia.
Yeah, in that time, from 2022to 2025, collectively, okay,
those three years, we'veapproved 500 000 dwellings but
we've brought 1.34 millionpeople.
Yeah, right, right, right,right.
And what does that say?
Oh, for every house we build,we need three people to live in
(14:21):
it the age of the first homebuyer in Australia.
This is going to be the cherryon top.
Speaker 2 (14:27):
Oh, I think I know the age too, but I want to guess
, in 2022, it was 34.
Speaker 1 (14:33):
Yeah, in 2025, that's three years later, it's 37 and
a half yeah yeah, I was going tosay 38.
Speaker 2 (14:41):
Look how proud of himself he is.
Speaker 1 (14:41):
I knew it, it's just so it's paralyzing, it's
crippling to the economy andthere's pros and cons on every
side of this.
The people that have alreadyinvested, or the people that
already purchased property, areloving life because, their net
wealth is just growing.
Speaker 2 (15:00):
Well, like you said, that guy just made $130,000,
essentially in 13 months.
$160,000.
$160,000.
They're even better $160,000.
Speaker 1 (15:08):
But then first-time buyers where do they go?
And the answer is and I alwayssay this every time time we've
got to go regional, yeah, andyou've got to build your wealth
that way.
There's two markets that aredown in australia and I believe
that you could personally pickup a bargain there tasmania and
victoria.
They have better planning, theyhave better nightlife.
(15:31):
We always talk about this stuff.
Speaker 2 (15:32):
Yeah, it always comes up.
Speaker 1 (15:33):
But it's a very important thing to note that
Melbourne has approved moredwellings than New South Wales
has, so Victoria has approvedmore dwellings.
And then you think about it andyou're like Victoria is one
third the size of New SouthWales.
How?
Speaker 2 (15:48):
is it possible Again?
I guess it's a mixture ofNIMBYism or I don't know what
the hell is going on with ourlocal councils of NIMBYism, or I
don't know what the hell isgoing on with our local councils
.
Speaker 1 (15:55):
It's a mixture of the NIMBYism.
So you've got, you know, Dandown the road screaming not in
my backyard, yeah.
Then you've got unsafe builderswho have come in and created a
lot of issues Mascot Towers andOpal Tower in Sydney Olympic
Park.
Speaker 2 (16:14):
Oh, yes, yes, so these are the ones, these are
the buildings that like there'scracks, they're kind of falling
apart like it's just builtshoddily.
Speaker 1 (16:21):
The remedial work is millions upon millions of
dollars to fix both of them.
So we've got those two thatjust brought in all this red
tape, and I agree with thebuilding code and I agree with
some of the Nibi mindset.
However, you will see tier onedevelopers get away with murder
(16:43):
Just because they're buildingsomething Just because of
reputation.
Speaker 2 (16:47):
Ah classic reputation .
Speaker 1 (16:49):
It's these people.
No, no, they're going to beokay.
They are picking and choosingtheir battles very specifically.
Okay, okay, um, they aretargeting last names, ethnicity
or oh, that was a bad one.
Um, complexion, they'retargeting complexion okay and
they want to go in and they wantto make sure that if you guys
(17:10):
are going to build, you play byour rules and if we catch you
not playing by our rules,there's going to be a 500 000
penalty.
Who's got 500?
Who's?
Who's got five grand?
To throw out a penalty like it?
It's so.
It's such a strange housingmarket that we're in because yet
again, no one has savings yeah,because they're spending it all
on housing or trying to.
(17:31):
I've got so many stats, I was soready for today's episode.
In 2022, the average AustralianI'm talking like anyone in
Australia the average amongstall of them was $39,000.
Okay, that's how much they hadin savings In 2025, it's $29,000
(17:51):
.
Speaker 2 (17:52):
So it's 10 grand deficit there.
Without even including theinflation or how much cost of
living has gone up, maybe evenless.
Speaker 1 (18:00):
If you take it back to those terms, it's probably 24
, 28.
It's fucking barbaric.
Sorry for cursing, but you seethat.
And then you also see recordhouse prices in God knows where,
and it's just such a funnymarket right now.
Speaker 2 (18:18):
It's very strange.
The thing is as well, becausespoilers we're filming during
the election, like the electioncampaign and stuff.
Speaker 1 (18:30):
If we actually have anyone that listens to this,
which I found out recently we do.
The temptation to talk about somany things to do with the
election and us holdingourselves back was so high today
, but the election is going on.
Speaker 2 (18:46):
The election is going on, but the federal government
doesn't actually have anycontrol over these developments
and stuff like that.
They have little control.
Speaker 1 (18:54):
Oh Michael, sweet summer child I have been.
I'm not going to fucking say it, I'm going to get myself
fucking shot Because we'vetalked about previous episodes.
Speaker 2 (19:07):
We've talked about inefficiencies in local councils
and things like that, butreally it's up to state
governments to try to get thesehousings, like these housing
developments, happening in eachstate.
Hence why victoria is probablygetting more yeah like I would
say that's probably the reasonas compared to new south wales.
I'm not gonna lie, I don't knowmuch about new south wales
labor.
I've not really thought muchabout it because we haven't had
(19:30):
a state election in a while.
Speaker 1 (19:31):
Yeah, it's I.
Just we need our own doge.
We need just people ingovernment that are able to
bring up the efficiency, becausethe truth is we've got a
million new government workersin the last four years three
years and it's taking longer toget things done.
Speaker 2 (19:53):
People are taking the mickey I think I honestly think
it's part of that, a part of aculture of australia where we
like to put up red tape andrules sort of everywhere, like
one bad thing goes like lockoutlaws, I feel like, is the is the
classic example.
Granted, it wasn't just one guythat got king hit, that caused
that to happen, look, look, butit was that quick reaction of no
, now we have a rule that'strying to prevent this and
(20:15):
you'll see it everywhere.
Like I just came back from theUK, like a week or two ago, and,
yeah, they have rules likeeverywhere else, but there's so
much more that is left up to youLike, hey, obviously, use some
common sense, don't be an idiot,whereas we to you, like, hey,
obviously, use some common sense, don't be an idiot, whereas we
will have a sign for absolutelyeverything.
(20:35):
Like we are, we are such ananny state and we love it, but
we complain about it like I was.
I was, I was on reddit the otherday and they were complaining
about the um, there's yourproblem?
Yeah, well, I've been.
Yeah, but they were complainingabout ford raptors and stuff
like the big american style,like uh, utes, yeah, and they're
like they should be banned this, that and the other.
I'm like this is why we have somuch overregulation and stuff,
(20:55):
because people complain like, oh, this should be banned and that
should be banned because Idon't like it.
Speaker 1 (20:59):
And it's like that's not.
Speaker 2 (21:01):
It's just not how it works.
Unfortunately, we live in asociety.
It's a bit of give and take.
People are going to do what youdon't like.
Speaker 1 (21:10):
We're not uniform.
Well, unfortunately, and I knowyou vote for this particular
party, but that's the Greens andthat's the way that they think.
Oh, I don't vote for the Greens.
Oh, I thought you did.
Sorry, I saw Iron Maident-shirt and I went there.
Speaker 2 (21:23):
No, no, no.
Speaker 1 (21:25):
I've never voted for the Greens in my life.
Have you ever read the?
Speaker 2 (21:28):
manifest.
Yeah, I've read bits and pieces, but I was.
It's communism.
Well, yeah, they're socialists,but they've said that Like it's
not a mystery.
Speaker 1 (21:35):
No, no, no.
But it's proper communism.
It's oh.
Everyone should be treatedequal and, unfortunately, you
will have people with more drive, you will have people that have
disabilities.
We don't live in that world,and what we have found in every
single socialist communist partyis there's corruption at the
top name.
One communist party that wasn'tcorrupt?
Speaker 2 (21:55):
oh, no, no, the problem.
I wasn't.
I wasn't going to argue thatthe problem.
What I was going to say waslike the problem is like, uh,
one party systems in general,because there's no, there's no,
there's no pushback.
That's the beauty of democracy,you sweet like the the general.
Speaker 1 (22:08):
This fucking podcast.
Speaker 2 (22:10):
Yeah, we started, yeah um, but yeah, it's a one
party thing, like you've got no,no pushback.
Hence the the beauty ofdemocracy one party gets voted
in a bunch of.
That makes a certain section ofpeople happy.
Then they're unhappy, then weshift to the next one, and that
makes that certain people.
And you know you, you strivetowards a middle ground.
That's the the beauty of it.
Right, it's supposed to be Well, that's supposed to be, that's
(22:32):
the ideal, but unfortunately,Platonic ideal, but
unfortunately we are way tooconnected because of the
internet.
Speaker 1 (22:42):
Yeah, and I saw a girl on TikTok the other day
that was like I don't believe ingravity and her vote counts
just as much.
Her vote counts just as much asmine and to me personally she's
allowed to have a vote.
But I just come on, man, Idon't understand.
Speaker 2 (23:04):
Like you know.
Well, that's the Americanargument for not making voting
compulsory as well.
Yeah, so it prevents the quoteuneducated vote.
Speaker 1 (23:16):
Yeah, but to me it's just silly.
Going back to NIMBYs, how do we?
No, no, no, no.
Speaker 2 (23:23):
Let's get back on topic.
Speaker 1 (23:24):
No, but to wrap up the conversation.
Speaker 2 (23:27):
Yeah, yeah.
Speaker 1 (23:28):
How do we change this and how has it affected
Australia?
Let's start with how it'saffected Australia first.
Our cities are sprawling at arate that we can't keep up when
it comes to work.
The trains went on strike fortwo months straight this year
(23:49):
One month or two.
Speaker 2 (23:50):
Yeah, let's just say it was enough.
It was enough that it wasnoticeable.
Speaker 1 (23:53):
Yeah, we already have people living an hour away from
the city just to be able toafford a home, myself included,
and then they can't get to work.
If they can't get to work, thatmeans the gross domestic
product, like our efficiency asa race, drops, and I just think
that the everyday Australiangoing back to that is just tired
(24:14):
.
Everyone's fucking exhausted.
Everyone's tired of driving,everyone's tired of getting a
random fine.
Everyone's tired of theserandom tolls.
I need to go do X Y, z to beable to go start a business, but
guess what?
Nobody's going to answer myphone and I'm going to be on
hold for 50 minutes.
And now I've got the shits.
And now I've got you know, allthese people calling me and I'm
going to revert back to thenimby culture and how to get out
(24:36):
of it.
Go buy yourself.
Go buy yourself a fucking blockof land in an area that's going
to be growing.
Okay, watch the equity grow onthat stuff.
Build your cash surplus up.
Okay, build your equityportfolio and then you can no
longer, or you will then be ableto control your own destiny,
(24:58):
and it's why I'm in the businessthat I'm in and it's why I'm
always preaching about propertyIf the government is actively
approving less dwellings, whichwe've seen.
They're actively increasing ournet migration.
It means one thing We've gotthis much housing, this many
(25:19):
people, it's going to lift up,and how do you take advantage of
that as a person?
So we need people to think forthemselves.
Fuck Anyone that has been onone of australia's reddit forums
and creates a an opinion fromthere.
(25:40):
They really, really, reallyneed to.
Just they need to be taken to afarm.
Just don't get your opinionsfrom the internet period.
No, no, no.
But they need to be taken to afarm and they need to work on
the farm for at least threeweeks straight, just so they can
learn what and appreciate whatwe've built here in Australia
(26:01):
and to let go of the red tape of, oh, but I don't like this, so
I don't want to do it and Idon't want to let anyone else do
it.
No, fuck you, bro.
Let people strive if they wantto, and if you don't want to
strive, there's a suburb calledlithgow.
Okay, there's a suburb callednimbin.
Speaker 2 (26:20):
Okay, there's a, there's a.
Lithgow's a fucking depressingplace.
I've been there so much, it'sso depressing.
Speaker 1 (26:27):
I'm trying to highlight the fact that like,
okay, if you don't want toparticipate, yeah then don't
participate, but don't don'thandcuff the people that are
trying to build a better lifefor themselves, handcuff the
people that are scumbags, thatare, that are doing the fucking
dirty shit, that are all thatsort of handcuff, that, but
don't handcuff the people thatare trying to get ahead anyways
(26:48):
yeah to wrap this all up in anice little bow at the end.
Wrap it all up, have nimbiesaffected our culture?
Yes, yeah, how has it happened?
Too connected on the internet.
What could we do about it?
Avoid it.
Go buy yourself a block of land.
Make some fucking money.
Wait about 18 months.
Go buy another block of land.
Make some fucking money.
Wait another 18 months.
Do it again.
Recycle.
All of a sudden, retire by 40and go to bed.
That's it.
(27:09):
Or build a duplex.
Speaker 2 (27:11):
Or build a duplex.
Speaker 1 (27:13):
And, as always, if you need help with your property
or your financial advice Ifyou're looking to build a duplex
.
If you're looking to build aduplex.
Speaker 2 (27:20):
Call it simple.
Speaker 1 (27:23):
Liam, I'm going to get someone from Fairfield.
Anyways, thank you all forlistening to a very chaotic but
entertaining episode on Nimbys.
And, as always, I'm Joe, I'mMichael and we'll see you at the
next one.
the age of the first home buyer in australia in 2022,
it was 34.
Three years later, it's 37.
It's paralyzing, it's cripplingto the economy.
First time buyers where do theygo?
And the answer is a duplex inbelmont 10 years ago.
You're looking at 800 to 900000.
You can't get anything forunder like two and a half
million belmore, belmore.
(00:20):
It's such a funny market rightnow.
It's very strange.
There's reason for developmentsbeing rejected in these areas.
It's because of NIMBYs.
Speaker 2 (00:29):
Are they ruining the housing market?
All signs point to yeah.
Speaker 1 (00:33):
It's an acronym, not in my backyard.
Not in my backyard, butunfortunately this does affect
the housing market.
I've heard numerous people saywe've got to bring housing
prices down, We've got to getrid of negative gearing.
How do we change this and howhas it affected Australia?
Speaker 2 (00:52):
Welcome to the Finance Show with Joe.
He's Joe, I'm Michael, andtoday we're going to be talking
about NIMBYs.
And are they ruining thehousing market?
All signs point to yes,apparently.
Speaker 1 (01:03):
I don't know what opinion to give because, um, I'm
gonna upset someone oh, yeah,yeah, yeah, definitely gonna
upset someone with this one.
Speaker 2 (01:11):
Before we get too ahead of ourselves, let's just
define what a nimby is.
For those who don't know I knowpeople like it's a buzzword
been thrown around.
But in case you don't know whatit is, it's a person who this
is the dictionary definition uh,the person who objects to the
sighting of something perceivedas unpleasant or hazardous in
the area where they live,especially while raising no
subject objections to similardevelopments elsewhere.
So, generally speaking, as anexample, let's say you're in
(01:38):
Vaucluse and the council hasdecided they want to put social
housing in the area.
Typically they're not going tobe happy about that, but it can
be like factory things as well,Like if they're putting up a
factory near your suburb, peoplewill object to that.
Speaker 1 (01:52):
It's an acronym, not in my backyard.
Speaker 2 (01:54):
Not in my backyard, it's all there.
Speaker 1 (01:57):
And I think just the acronym, like we could have the
scientific definition which?
Doesn't feel right, honestlycould have the scientific
definition, which doesn't feelright.
Honestly, it's over specifyingsomething that is very generic,
not in my backyard, and this hascaused such a commotion across
(02:17):
australia because we've had sucha halt to our development, our
application process,construction, being able to
provide housing for first-timebuyers, for investors, for
everyone really.
It's also much everyone, becauseif what you will notice with
(02:41):
NIMBYs is I hate using that wordbecause, like 10 years time,
I'm going to be a NIMBY, rightbut what you will notice is
they're a part of the olderdemographic typically, and they
don't like noise, they don'tlike being bothered, so they
don't want developmentsoccurring near their homes.
It's very strange seeing theway that they're protesting and
(03:05):
you will see the olderdemographic protesting being
like we need more housing, weneed to bring prices down.
Okay, we're going to go put ahigh-rise building in the middle
of Leichhardt, yeah, no, no, no, we can't do it there, yeah,
not there.
No, no, send them out west, andyou're just like….
Speaker 2 (03:21):
Because people work in the city.
You need to build thosehigh-density housing closer to
the city, not further out.
What's the point there?
Speaker 1 (03:30):
The way that Sydney is built is very interesting
because we've got so manyheritage buildings Like in the
inner west and stuff.
Yeah, we actually can't go thathigh.
If you drive all along I thinkit's Parramatta Road all the way
up to Sydney CBD, everything'sthree or four stories and then
one street back will be ahigh-rise building.
(03:51):
Yeah, yeah, yeah, but thatwhole area I think I'm thinking
of Newtown, I think I'm thinkingof… Like Enmore and stuff like
that, or Canterbury, okay, yeah.
So even all the way that fardown, you won't see high-rise,
high-density building to theeffect that you will see it in
other major capital cities.
(04:12):
When I go to Melbourne and I amthere frequently now, because
you know something that we'llreveal in maybe three or four
episodes Watch this space, watchthis hashtag They've got a lot
of high-rises on the way to thecity.
They've taken the time to planthe city and you can see it.
It's built like a grid.
(04:32):
Sydney was never planned to bea city.
You can see it's.
It's built like a grid.
Sydney was never planned to bea city, but they also haven't
catered or tried to fix the messthat they've created.
Speaker 2 (04:45):
Yeah, it's, it's.
It's one of those things whereit's you know driving in in
sydney, in the city, it'sconfusing if you don't know
where you're going.
Like it doesn't make sense.
Like at least melbourne it's agrid.
Yeah, you go turn right hereafter two stops, whereas sydney
you'll you'll be drivingstraight and you're like oh, you
just missed that ramp.
Did you not notice that thatslight off turn?
Speaker 1 (05:00):
you know the story about my wife.
She went viral for a tiktoklike 20 million views and um uh,
she got interviewed by thedaily mail because every time
she goes through the m8 or them5 she ends up on the harbour
bridge.
She's trying to go to uh, ouroffice in barangaroo or she's
trying to go meet up withfriends in balmain and she's
(05:21):
ended up on the north shore andevery single time she ends up in
mossman, having to turn aroundand come back.
She went viral for it and shewas getting random dms from
hundreds of people saying thishappens to me daily, it's
confusing and we haven't doneanything.
They've tried.
They've tried.
(05:41):
The issue is the voice that theindividual has, especially when
it comes to applicationplanning, development process.
The right to protest.
The voice of the individual isso strong in Australia that it
has affected people, theiroverall livelihood.
You know a house, no, a duplex,in Belmore 10 years ago.
(06:04):
You're looking at maximum$800,000 to $900,000.
Okay, it might be more, I don'tknow.
I don't have the stats in frontof me.
Yeah, you can't get anythingfor under like $2.5 million in
Belmore, belmore, me.
Million in Belmore, belmore, me.
Driving through Belmore, I havebeen there recently.
Lovely suburb.
There's still the remnants ofthe past there, but the houses,
(06:27):
the duplexes in Belmore arecomparable to Dromoyne which is
on the water.
It does not make sense to methat a suburb like that and no
offense to punchbowl, I loveyeah I'm from punchbowl.
I go to church punchbowlpunches, but that's.
It's right next to it.
(06:47):
It's right next to lakemba,yeah, where you have low
socioeconomic groups typicallynot associated with high
property prices.
But yet again, Belmore isperforming well above what is
expected.
Yeah, and that is just becausethere's no housing supply.
Speaker 2 (07:05):
Speaking of I've actually got a list of the top
10 suburbs that are building theleast housing in Sydney.
We could do it for every state,but it's going to take forever.
So, top of the list, glenmorePark.
Second, illawong, then ourfilming location, third,
harrington Park, fourth, windsor.
And then we've got Yaramundi,lawson, manai, wentworth Falls,
(07:30):
cromer and Springwood.
These are all.
The housing supply has grownless than a percent for each of
them.
Speaker 1 (07:38):
Illawong and Manawai.
I can somewhat understand.
We don't have a train station.
People don't want to live hereanyways.
No, I'm joking.
No, what it is is Illawong andManawai are surrounded by a
national park.
We've got a lot of trees inthis area, so to be able to get
anything approved is quitedifficult.
You will see vacant lots ofland in this area.
(08:00):
Go for double Patstow, okay,randomly Okay, but then you'll
get another vacant lot of landthat will sell for less like 10%
, less than the same size asPatstow.
The reason for that is Illawongdefinitely is not a
pass-through suburb.
It's a destination suburb.
No one has ever said tothemselves oh, I'm just going to
(08:22):
pass through Illawong.
Speaker 2 (08:23):
Yeah, I mean, before we started filming this podcast,
I didn't even know whereIllawong was.
Speaker 1 (08:29):
We've had very, very minimal development in this
whole area.
We've only got one apartmentblock and it took them forever
to get an approval and that'spossibly because of the
neighbors, because of the schoolthat's across the road from it.
There was a number of factors,but it took them five, six years
(08:49):
just to get it out of theground.
It was not an easy process.
Menai surprises me a little bitbecause, me knowing that suburb
, I know that there's potentialthere.
Problem is nobody wants toinvest in that area.
So there's two sides of thisWith Menai.
If I went and bought a block ofland in Menai, it might cost me
the same as it would in.
(09:10):
I'm just going to choose arandom suburb Punchbowl,
whatever Grand Acre the block ofland might cost me the same.
But to be able to get bankfunding or get any source of
funding, the developer quiteoften needs to go through a
pre-sales process.
How are they going to achievepre-sales when the people that
want apartments, when they wantgood work-life balance where
(09:35):
they can get to and from work in30 minutes, man, no one doesn't
have a train station.
So when I was working in town in2018, and this is before you
know had my car spot andeverything.
It would take me an hour and 40minutes door to door every day.
It's how the crazy morningroutine started, because I was
like… you were waking up earlieralready.
I had to to door every day.
Yeah, it's how the crazymorning routine started, because
(09:55):
I was like you're waking upearlier already.
I, I had to.
Yeah, otherwise I wouldn't makeit to work.
If I, if I left home 7 50, Iwould not be at my office until
9 40 am.
Um, yeah, it's a shit show.
So the developers don't want todevelop here because they won't
make their money.
They won't have people actuallycoming here and saying hey,
(10:16):
guess what, guys, I'm gonna putmy money in here and I'm gonna
do, I'm gonna achieve pre-sales,because they won't achieve the
pre-sales and they might go bustyeah so the developments that
you see around here, it's allsingle-story luxury houses
that's what.
Speaker 2 (10:27):
That's sort of what I've noticed because, like there
are, there are dwellings beingapproved, like although the
number of dwellings beenapproved in Illalong over the
last two years is only 12.
And then Menai it was 42.
Speaker 1 (10:38):
I wonder if one of those buildings was mine,
because I built here.
Honestly, it's definitely mine,I say that, I say like oh no it
is, it's definitely yours.
That's hilarious.
Speaker 2 (10:50):
Where else did you say so?
Harrington Park?
Glenmore Park was at the top ofthe list, so that's out west.
Speaker 1 (10:59):
yep, uh, windsor uh, yarimundi windsor surprises me
yeah, I mean there's nothingthere, though nothing in penrith
either.
Speaker 2 (11:04):
People still buy there yeah, but there's work
that you can work in penrith.
I'm joking, I'm joking about.
Speaker 1 (11:09):
I probably pissed a bunch of people off.
No, but, um, windsor, is that?
Speaker 2 (11:14):
that one surprised me the most, because there's a lot
of land out that way and Ithought that they would have
developed that I wonder if it'sbecause it's a big flood zone
and I used to live, not near it,but near enough that I got the
news.
Um, that place used to floodconstantly.
It's all built on a flood plain.
Well, that's the reason why.
That's what I imagine.
Yeah, that is 100, the riverthere always floods.
Speaker 1 (11:36):
But it's funny you bring up this top 10 list
because they all have somethingin common, it's all.
I can imagine that ABS has thestats on each one of these
suburbs.
I'm assuming the median age ismuch higher than what it would
be across the rest of Sydney.
Yeah, and there's reason fordevelopments being rejected in
these areas.
It's because of that thinking Iwant to retire.
(11:59):
I don't want anyone else tocome near me, I don't want to
hear loud jackhammers in themorning, I don't want to get
disturbed by concrete trucks andthat's it.
But unfortunately andfortunately, this does affect
the housing market.
Yeah, so I've heard numerouspeople say oh, we've got to
bring housing prices down, we'vegot to get rid of negative
(12:20):
gearing.
There's so many things,especially around this election
time, that just key hot words totry and get people to vote
other people in, and I don'tthink they really pay attention
to the cause and effect yeah,right, right, right Of the
arguments they're trying tofight for.
Oh, no, we need more housing.
Okay, let's build it in Redfin.
(12:41):
No, no, no, not there.
Speaker 2 (12:43):
Yeah, again, this is back to the NIMBY stuff.
Speaker 1 (12:46):
But that also gives an advantage to anyone that has
invested in those areas, thathas thought to themselves.
You know what?
I'm going to go put my moneyhere and I'm going to fucking
make some money here.
I did a video on Instagramrecently Friend of mine well,
not friend is a friend, actuallybut they purchased in Bosley
Park, oh yeah, and theypurchased for 1.3 mil and 13
(13:11):
months later it's worth 1.46 mil.
That's $160,000 in growth in 13months.
Later it's worth 1.46 mil.
That's $160,000 in growth in 13months.
That is, I think it wouldcalculate to $13,333 a month.
That they would make $160,000in growth is one and a half
times the median salary inSydney and I highly doubt a lot
(13:34):
of people are on 100 flat.
I, I believe more people are on90 plus 10k bonus or so
something like that.
Yeah, but I saw that statisticand I was like there is really a
lack of housing supply.
And then, and then 225 000dwellings and we had a net
(13:58):
migration of minus 84 900 people.
Okay, we had more people movingout of australia.
Yeah, in that time, from 2022to 2025, collectively, okay,
those three years, we'veapproved 500 000 dwellings but
we've brought 1.34 millionpeople.
Yeah, right, right, right,right.
And what does that say?
Oh, for every house we build,we need three people to live in
(14:21):
it the age of the first homebuyer in Australia.
This is going to be the cherryon top.
Speaker 2 (14:27):
Oh, I think I know the age too, but I want to guess
, in 2022, it was 34.
Speaker 1 (14:33):
Yeah, in 2025, that's three years later, it's 37 and
a half yeah yeah, I was going tosay 38.
Speaker 2 (14:41):
Look how proud of himself he is.
Speaker 1 (14:41):
I knew it, it's just so it's paralyzing, it's
crippling to the economy andthere's pros and cons on every
side of this.
The people that have alreadyinvested, or the people that
already purchased property, areloving life because, their net
wealth is just growing.
Speaker 2 (15:00):
Well, like you said, that guy just made $130,000,
essentially in 13 months.
$160,000.
$160,000.
They're even better $160,000.
Speaker 1 (15:08):
But then first-time buyers where do they go?
And the answer is and I alwayssay this every time time we've
got to go regional, yeah, andyou've got to build your wealth
that way.
There's two markets that aredown in australia and I believe
that you could personally pickup a bargain there tasmania and
victoria.
They have better planning, theyhave better nightlife.
(15:31):
We always talk about this stuff.
Speaker 2 (15:32):
Yeah, it always comes up.
Speaker 1 (15:33):
But it's a very important thing to note that
Melbourne has approved moredwellings than New South Wales
has, so Victoria has approvedmore dwellings.
And then you think about it andyou're like Victoria is one
third the size of New SouthWales.
How?
Speaker 2 (15:48):
is it possible Again?
I guess it's a mixture ofNIMBYism or I don't know what
the hell is going on with ourlocal councils of NIMBYism, or I
don't know what the hell isgoing on with our local councils
.
Speaker 1 (15:55):
It's a mixture of the NIMBYism.
So you've got, you know, Dandown the road screaming not in
my backyard, yeah.
Then you've got unsafe builderswho have come in and created a
lot of issues Mascot Towers andOpal Tower in Sydney Olympic
Park.
Speaker 2 (16:14):
Oh, yes, yes, so these are the ones, these are
the buildings that like there'scracks, they're kind of falling
apart like it's just builtshoddily.
Speaker 1 (16:21):
The remedial work is millions upon millions of
dollars to fix both of them.
So we've got those two thatjust brought in all this red
tape, and I agree with thebuilding code and I agree with
some of the Nibi mindset.
However, you will see tier onedevelopers get away with murder
(16:43):
Just because they're buildingsomething Just because of
reputation.
Speaker 2 (16:47):
Ah classic reputation .
Speaker 1 (16:49):
It's these people.
No, no, they're going to beokay.
They are picking and choosingtheir battles very specifically.
Okay, okay, um, they aretargeting last names, ethnicity
or oh, that was a bad one.
Um, complexion, they'retargeting complexion okay and
they want to go in and they wantto make sure that if you guys
(17:10):
are going to build, you play byour rules and if we catch you
not playing by our rules,there's going to be a 500 000
penalty.
Who's got 500?
Who's?
Who's got five grand?
To throw out a penalty like it?
It's so.
It's such a strange housingmarket that we're in because yet
again, no one has savings yeah,because they're spending it all
on housing or trying to.
(17:31):
I've got so many stats, I was soready for today's episode.
In 2022, the average AustralianI'm talking like anyone in
Australia the average amongstall of them was $39,000.
Okay, that's how much they hadin savings In 2025, it's $29,000
(17:51):
.
Speaker 2 (17:52):
So it's 10 grand deficit there.
Without even including theinflation or how much cost of
living has gone up, maybe evenless.
Speaker 1 (18:00):
If you take it back to those terms, it's probably 24
, 28.
It's fucking barbaric.
Sorry for cursing, but you seethat.
And then you also see recordhouse prices in God knows where,
and it's just such a funnymarket right now.
Speaker 2 (18:18):
It's very strange.
The thing is as well, becausespoilers we're filming during
the election, like the electioncampaign and stuff.
Speaker 1 (18:30):
If we actually have anyone that listens to this,
which I found out recently we do.
The temptation to talk about somany things to do with the
election and us holdingourselves back was so high today
, but the election is going on.
Speaker 2 (18:46):
The election is going on, but the federal government
doesn't actually have anycontrol over these developments
and stuff like that.
They have little control.
Speaker 1 (18:54):
Oh Michael, sweet summer child I have been.
I'm not going to fucking say it, I'm going to get myself
fucking shot Because we'vetalked about previous episodes.
Speaker 2 (19:07):
We've talked about inefficiencies in local councils
and things like that, butreally it's up to state
governments to try to get thesehousings, like these housing
developments, happening in eachstate.
Hence why victoria is probablygetting more yeah like I would
say that's probably the reasonas compared to new south wales.
I'm not gonna lie, I don't knowmuch about new south wales
labor.
I've not really thought muchabout it because we haven't had
(19:30):
a state election in a while.
Speaker 1 (19:31):
Yeah, it's I.
Just we need our own doge.
We need just people ingovernment that are able to
bring up the efficiency, becausethe truth is we've got a
million new government workersin the last four years three
years and it's taking longer toget things done.
Speaker 2 (19:53):
People are taking the mickey I think I honestly think
it's part of that, a part of aculture of australia where we
like to put up red tape andrules sort of everywhere, like
one bad thing goes like lockoutlaws, I feel like, is the is the
classic example.
Granted, it wasn't just one guythat got king hit, that caused
that to happen, look, look, butit was that quick reaction of no
, now we have a rule that'strying to prevent this and
(20:15):
you'll see it everywhere.
Like I just came back from theUK, like a week or two ago, and,
yeah, they have rules likeeverywhere else, but there's so
much more that is left up to youLike, hey, obviously, use some
common sense, don't be an idiot,whereas we to you, like, hey,
obviously, use some common sense, don't be an idiot, whereas we
will have a sign for absolutelyeverything.
(20:35):
Like we are, we are such ananny state and we love it, but
we complain about it like I was.
I was, I was on reddit the otherday and they were complaining
about the um, there's yourproblem?
Yeah, well, I've been.
Yeah, but they were complainingabout ford raptors and stuff
like the big american style,like uh, utes, yeah, and they're
like they should be banned this, that and the other.
I'm like this is why we have somuch overregulation and stuff,
(20:55):
because people complain like, oh, this should be banned and that
should be banned because Idon't like it.
Speaker 1 (20:59):
And it's like that's not.
Speaker 2 (21:01):
It's just not how it works.
Unfortunately, we live in asociety.
It's a bit of give and take.
People are going to do what youdon't like.
Speaker 1 (21:10):
We're not uniform.
Well, unfortunately, and I knowyou vote for this particular
party, but that's the Greens andthat's the way that they think.
Oh, I don't vote for the Greens.
Oh, I thought you did.
Sorry, I saw Iron Maident-shirt and I went there.
Speaker 2 (21:23):
No, no, no.
Speaker 1 (21:25):
I've never voted for the Greens in my life.
Have you ever read the?
Speaker 2 (21:28):
manifest.
Yeah, I've read bits and pieces, but I was.
It's communism.
Well, yeah, they're socialists,but they've said that Like it's
not a mystery.
Speaker 1 (21:35):
No, no, no.
But it's proper communism.
It's oh.
Everyone should be treatedequal and, unfortunately, you
will have people with more drive, you will have people that have
disabilities.
We don't live in that world,and what we have found in every
single socialist communist partyis there's corruption at the
top name.
One communist party that wasn'tcorrupt?
Speaker 2 (21:55):
oh, no, no, the problem.
I wasn't.
I wasn't going to argue thatthe problem.
What I was going to say waslike the problem is like, uh,
one party systems in general,because there's no, there's no,
there's no pushback.
That's the beauty of democracy,you sweet like the the general.
Speaker 1 (22:08):
This fucking podcast.
Speaker 2 (22:10):
Yeah, we started, yeah um, but yeah, it's a one
party thing, like you've got no,no pushback.
Hence the the beauty ofdemocracy one party gets voted
in a bunch of.
That makes a certain section ofpeople happy.
Then they're unhappy, then weshift to the next one, and that
makes that certain people.
And you know you, you strivetowards a middle ground.
That's the the beauty of it.
Right, it's supposed to be Well, that's supposed to be, that's
(22:32):
the ideal, but unfortunately,Platonic ideal, but
unfortunately we are way tooconnected because of the
internet.
Speaker 1 (22:42):
Yeah, and I saw a girl on TikTok the other day
that was like I don't believe ingravity and her vote counts
just as much.
Her vote counts just as much asmine and to me personally she's
allowed to have a vote.
But I just come on, man, Idon't understand.
Speaker 2 (23:04):
Like you know.
Well, that's the Americanargument for not making voting
compulsory as well.
Yeah, so it prevents the quoteuneducated vote.
Speaker 1 (23:16):
Yeah, but to me it's just silly.
Going back to NIMBYs, how do we?
No, no, no, no.
Speaker 2 (23:23):
Let's get back on topic.
Speaker 1 (23:24):
No, but to wrap up the conversation.
Speaker 2 (23:27):
Yeah, yeah.
Speaker 1 (23:28):
How do we change this and how has it affected
Australia?
Let's start with how it'saffected Australia first.
Our cities are sprawling at arate that we can't keep up when
it comes to work.
The trains went on strike fortwo months straight this year
(23:49):
One month or two.
Speaker 2 (23:50):
Yeah, let's just say it was enough.
It was enough that it wasnoticeable.
Speaker 1 (23:53):
Yeah, we already have people living an hour away from
the city just to be able toafford a home, myself included,
and then they can't get to work.
If they can't get to work, thatmeans the gross domestic
product, like our efficiency asa race, drops, and I just think
that the everyday Australiangoing back to that is just tired
(24:14):
.
Everyone's fucking exhausted.
Everyone's tired of driving,everyone's tired of getting a
random fine.
Everyone's tired of theserandom tolls.
I need to go do X Y, z to beable to go start a business, but
guess what?
Nobody's going to answer myphone and I'm going to be on
hold for 50 minutes.
And now I've got the shits.
And now I've got you know, allthese people calling me and I'm
going to revert back to thenimby culture and how to get out
(24:36):
of it.
Go buy yourself.
Go buy yourself a fucking blockof land in an area that's going
to be growing.
Okay, watch the equity grow onthat stuff.
Build your cash surplus up.
Okay, build your equityportfolio and then you can no
longer, or you will then be ableto control your own destiny,
(24:58):
and it's why I'm in the businessthat I'm in and it's why I'm
always preaching about propertyIf the government is actively
approving less dwellings, whichwe've seen.
They're actively increasing ournet migration.
It means one thing We've gotthis much housing, this many
(25:19):
people, it's going to lift up,and how do you take advantage of
that as a person?
So we need people to think forthemselves.
Fuck Anyone that has been onone of australia's reddit forums
and creates a an opinion fromthere.
(25:40):
They really, really, reallyneed to.
Just they need to be taken to afarm.
Just don't get your opinionsfrom the internet period.
No, no, no.
But they need to be taken to afarm and they need to work on
the farm for at least threeweeks straight, just so they can
learn what and appreciate whatwe've built here in Australia
(26:01):
and to let go of the red tape of, oh, but I don't like this, so
I don't want to do it and Idon't want to let anyone else do
it.
No, fuck you, bro.
Let people strive if they wantto, and if you don't want to
strive, there's a suburb calledlithgow.
Okay, there's a suburb callednimbin.
Speaker 2 (26:20):
Okay, there's a, there's a.
Lithgow's a fucking depressingplace.
I've been there so much, it'sso depressing.
Speaker 1 (26:27):
I'm trying to highlight the fact that like,
okay, if you don't want toparticipate, yeah then don't
participate, but don't don'thandcuff the people that are
trying to build a better lifefor themselves, handcuff the
people that are scumbags, thatare, that are doing the fucking
dirty shit, that are all thatsort of handcuff, that, but
don't handcuff the people thatare trying to get ahead anyways
(26:48):
yeah to wrap this all up in anice little bow at the end.
Wrap it all up, have nimbiesaffected our culture?
Yes, yeah, how has it happened?
Too connected on the internet.
What could we do about it?
Avoid it.
Go buy yourself a block of land.
Make some fucking money.
Wait about 18 months.
Go buy another block of land.
Make some fucking money.
Wait another 18 months.
Do it again.
Recycle.
All of a sudden, retire by 40and go to bed.
That's it.
(27:09):
Or build a duplex.
Speaker 2 (27:11):
Or build a duplex.
Speaker 1 (27:13):
And, as always, if you need help with your property
or your financial advice Ifyou're looking to build a duplex
.
If you're looking to build aduplex.
Speaker 2 (27:20):
Call it simple.
Speaker 1 (27:23):
Liam, I'm going to get someone from Fairfield.
Anyways, thank you all forlistening to a very chaotic but
entertaining episode on Nimbys.
And, as always, I'm Joe, I'mMichael and we'll see you at the
next one.
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