Renting in Australia: It’s a Crisis
I’m just going to say it: Renting in Australia can be a roller coaster made of misery. Not every joint allows pets, you can’t put nails in your walls, and it’s always a bit scary when your lease is up.
Moreover, renting might get even worse in Australia. This is because:
- In 2023, the rental market is super competitive. And when there are not enough rental properties to meet consumer demands, the cost of renting goes upwards.
- The Reserve Bank of Australia has kept increasing the amount of money that homeowners have to pay on their mortgages. And if a homeowner’s property is on the rental market, they can just pass on these increases on to their tenant.
A pair of St George Bank economists, Pat Bustamante and Jameson Coombs, have stated that in 2022, the cost of renting increased by 10%. Additionally, they’re predicted that in 2023, it will rise by another 11.5%. If Bustamante and Coombs are correct, this means that household renting bills will increase in total by $10 billion.
“This is on top of the $5 billion increase in households’ 2022 rent bill. This is significant,” said the economists.
“A $10 billion increase in the rent bill of households is equivalent to an average 20% increase in housing costs. These households will likely be required to pull back on spending to meet the higher rental costs. If this occurs, nominal household consumption could be up to 1% lower in 2023 alone.”
However, it’s also worth noting that buying a home in Australia is also not a picnic. This is because new listings in cities such as Brisbane, Melbourne, and Sydney have had a significant drop off in 2023. As it stands, there are not enough homes for people who want to buy their dream home.
As CoreLogic’s Research Director, Tim Lawless, said, “We are seeing homeowners just waiting on the sidelines and that’s also accompanied by less buying activity.”
Furthermore, PEXA’s CEO, Glenn King, has stated that this lack of listings creates awful situations, where folks are trapped in rubbish living arrangements.
King said, “Many first home buyers, who are forced to buy far from the centre of cities, are denied the opportunities that may increase their quality of life, including access to the higher paying jobs that are in the central city and employment hubs.”
If there was ever a time for all levels of government to step in and fix this rental crisis, it’s now. Please and thank you, mates.
Joe Biden Unpacks How Russia Is Going in Ukraine
Over the past few days, the President of the US, Joe Biden, has been busy. First, he met with the President of Ukraine, Volodymyr Zelenskyy, in the war-torn country of Ukraine. Then, he went to Warsaw, Poland, and made a speech.
In this speech, Biden talked about how Russia’s brutal and illegal invasion of Ukraine was going.
“Nearly one year ago, I spoke at the Royal Castle here in Warsaw, just weeks after Vladimir Putin had unleashed his murderous assault on Ukraine,” said Biden. “The largest land war in Europe since World War Two had begun. And the principles that had been the cornerstone of peace, prosperity, and stability on this planet for more than 75 years were at risk of being shattered.”
“One year ago, the world was bracing for the fall of Kyiv. Well, I have just come from a visit to Kyiv, and I can report, Kyiv stands strong!”
Biden also said, “As Ukraine continues to defend itself against the Russian onslaught and launch counter-offensives of its own, there will continue to be hard and very bitter days, victories and tragedies. But Ukraine is steeled for the fight ahead. And the United States, together with our Allies and partners, are going to continue to have Ukraine’s back as it defends itself.”
As of February 22, Russia has been trying to take Ukraine for 363 days.
Related: Why Zelenskyy and Biden Spoke in the Oval Office During 2022
Related: Why Australian Troops Are Training Ukrainian Soldiers in 2023
Australian Nurses to Learn About Cannabis
Unfortunately, a whack of nurses across Australia don’t know enough about cannabis. What’s more, this situation leads to their being incorrect information in this medical community. However, a newly formed group called the Australian Cannabis Nurses Association (ACNA) wants to change this.
The ACNA will educate our nurses about how cannabis works. This group will also advocate for this drug being used in medical settings.
“There’s misinformation about cannabis with clinicians,” said Simone O’Brien, the leader of the ACNA.
“We are very keen to decrease the stigma.”
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