‘Same story in every country’: Viral video explains why life in Australia has become ‘impossible’

A viral video explaining “why life in Australia has become impossible” has left many viewers asking the same question.

A video explaining “why life in Australia has become impossible” has gone viral online, but many viewers have pointed out that the same situation is playing out “all across the western world”.

The 16-minute video by Dutch YouTube channel Hindsight, published on November 30, gives a rundown of the housing crisis that has pushed the Australian dream out of reach for a growing proportion of the population, leading to a rapidly growing divide between the haves and have-nots.

“The Australian dream is about owning a house, but that ideal is now increasingly getting out of reach,” the description reads.

“House prices nearly doubled over the past decade, and rental properties have so much demand that sometimes literally dozens of people are lined up at inspections. Where did this all go wrong?”

The narrator states that “across the western world, the housing market is under stress” but says there is “something fundamentally different about Australia”.

None of the information will come as news to Australians — the fact that it now costs more than 10 times the average income to buy a home with Sydney and Melbourne being ranked among the least affordable cities in the world, and the resulting rental crisis as vacancy rates drop to record lows and rents skyrocket.

The video also highlights that housing has become a top political issue and notes the competing explanations for the crisis.

The left blames investment tax breaks and lack of social housing investment, the right points the finger at record immigration.

Rental inspections often attract dozens of people. Picture: YouTube

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“Politicians and commentators often simplify the issues into a couple of talking points that resonate with their voters and viewers,” the narrator states.

“This is, of course, happening all over the world, but Australia is unique in that it transformed from having one of the best and most affordable housing markets into one of the worst and least affordable. And perhaps nowhere else is home ownership so intimately connected with their national identity.”

The video has struck a chord online, racking up 1.5 million views and attracting thousands of comments.

“It isn’t limited to Australia, and I’m truly beginning to consider that politicians worldwide are merely doing their masters’ bidding,” one person wrote.

Another said, “This is all over the western world. This is all by design.”

“Dear Australia, we have the same problem. Signed Canada,” a third added.

A fourth asked, “Anyone else notice this exact same story (with slight variations) is occurring with seemingly every county in the world right now?”

Many Australians chimed in to share their despair at the state of the country.

“I was born here 61 years ago … Australia has turned into an over-priced corporate s**t hole,” one wrote.

Another recalled how “when I was a kid in Australia, a person on one wage was able to pay off a house, live comfortably and take the family on holidays”. “Now it takes at least two wages and most times that is not enough. So wrong,” they said.

The Australian dream is now largely for the wealthy. Picture: YouTube

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A third wrote, “In 1997 my parents sold our first house for about $108,000. That very same house is currently listed again in 2024, but for $1.1 million. I am never going to afford a house.”

One person said they had a “good-paying full-time salaried job and yet I can’t afford to live in even an apartment by myself”. “I have to live in a share house with four other people. It’s an absolute disgrace and complete failure of government policy. Houses should be for living in not investing in,” they added.

One woman shared, “It’s so bad. My husband has a well-paying full time job at a university and we were priced out of the Sydney rental market, and we have to live with my parents who thankfully own their own home. We won’t ever be able to afford our own home without significant family assistance, and probably not even then.”

Another said, “I work three jobs, I am in the top 10 per cent of income earners in Australia, and I’ve never been further away from home ownership in my area. I smoke the combined earnings of my parents. My parents lived the dream. I live the nightmare.”

Many viewers pointed the finger at immigration and foreign investment.

“Why did both Canada and Australia try to fix economy after the pandemic (caused by the restrictions they created) with overwhelming record-breaking amounts of immigration, which only massively hurt housing/unemployment/cost of living?” one asked. “It’s been a rough time for the citizens since 2020.”

Another said, “Wouldn’t the solution be to just stop immigration, abolish negative gearing and ban people from buying property unless they are citizens? The problem is, too many politicians have investment properties and don’t want to see the prices fall.”

Housing affordability is among the worst in the world. Picture: YouTube

Others shared their stories of leaving Australia.

“I left Australia six years ago, I left my home, my family, my friends, I moved to Italy because I was lucky enough to get citizenship by blood,” one wrote.

“And sadly, to this day I have never looked back. For the first time in my working life I got a permanent contract, not casual or short term I have only ever had over all my jobs. I earn less yes, but cost of living is not suffocating. For the first time in my life I have savings. I have my own home. I could never have had that unless I won the lotto.”

Another said they left in 2018. “I am dual citizen French/Australian, and went back to France,” they wrote. “I bought a stone house on four acres of land and never looked back. Shame cause I enjoyed living Down Under but matchbox houses at $500,000 was a big no-no for me.”

One said they left Sydney four years ago and moved to Bangkok “where there’s an oversupply of housing”.

“They have amazing condos and apartments that are half empty and they can’t fill,” they said.

“It took me an afternoon to find one to live in. I pay $800 a month to live in a luxury building that has a rooftop pool, gym and a communal cinema. It’s also only a five-minute walk to the subway and all the shopping amenities. The basement also has a 7-Eleven and a coffee shop. I literally signed the six-month lease and got the keys on the same day. Doubt I’ll ever return to Australia. It’s cooked.”

Another Thai expat wrote, “I am a 71-year-old Australian woman. My husband and I had to sell our house due to the high interest rates. So we rented but could not afford rent anymore as we are on pension so we left the country and moved to Thailand. This was the best thing we ever did.”

One person revealed, “As a 32-year-old Australian I’m seriously thinking of moving overseas for the first time in my life and I’ve never left Australia.”

Another added, “I left seven years ago. There are so many places to live in the world, people in Australia are still brainwashed thinking it’s the lucky country.”