This Is Why Aussies Can’t Afford to Build a Home Anymore (And It Is About to Get Much Worse)

George Markoski Today we’re talking about why everything feels more expensive. Right now. It’s going to be $1.13 million for the average house. The 500,000 new build is dead. It’s never coming back. That’s how much it costs to build the same house you grew up in. With 200,000 homes short and nobody’s fixing this. We’re 70,000 tradies short and you can’t import a roof. You got to put it together. And your builder is one bad job for going under. It’s inflation. And inflation is insidious, right. It is not temporary, is a structural shift. The reason things feel more expensive is because they are. Hello, George Markoski of the Positive Property show here with my co host Charmaine Adams. Hi Charmaine. Charmaine Adam Hey, how’s everyone doing? George Markoski So today we’re talking about why everything feels more expensive right now and what it means for property. You know, from interest rates and everyday costs, things are just getting more expensive. This started in Covid, you know, and it just keeps going. Charmaine Adam It does. And top, I think one of the biggest topics at the moment is fuel prices. I’m seeing things on Facebook, where to go to get the cheapest fuel. George Markoski Yeah. And what do you think of my new T shirt? Charmaine Adam Love it. George Markoski Can you see it? Charmaine Adam What does it say ever? George Markoski Before we start, I’ll tell you a story. I was in Melbourne last year while Christina and I were know trying for a baby and I, I went to buy some pajamas at Peter Alexander and I saw this T shirt and I thought I’ll buy it. And when I came home I wore it and I said, Christina, this is a sign that it’s going to work. Charmaine Adam I love it, wearing it. George Markoski So I thought I’ve got like, we got like 29 days before the due date. So I thought, you know what, I’ll wear it tonight for a bit of a laugh because it’s been a fun journey and. Yeah. Okay, let’s start our presentation. I’m going on a bit of a rant tonight, so I hope everyone’s ready for my political rant. But there’s a lot to talk about. So why everything feels more expensive, what it means to property investors. Well, basically the reason things feel more expensive is because they are. So that’s the simple fact. But why? It’s inflation. And inflation is insidious, right? Because the cheap world is over. Global trade routes are becoming less stable and more expensive. Energy shocks and geopolitical conflict are disrupting supply chains. Long standing trade systems and alliance are breaking down and it’s not temporary. George Markoski This is a structural shift. And what this means is that high costs are locked into the system. And it all started during COVID and that little experiment and now it’s becoming what? Worse. So state of the nation how global pressure is hitting Australia. Everyone’s panicking. Smart buying is money. So is smart money is buying. So consumer confidence has dropped to a multi year low as rising costs have hit households and sentiment is turning lower. You can see this ANZ. Roy Morgan Australia Confidence fell 0.2 points last week. So the cost pressure, the building and affordability is being squeezed. So this is a fact, for every 10,000 in build cost, that equals another 40,000 in the price tag of buying a property. And this is what the issue is. The issue is rising. Energy and input costs are now feeding into the real economy. George Markoski Materials, transport, labor are all becoming more expensive. So construction sits at the center of this pressure. So building costs are rising again and now it’s flowing to housing supply and also housing affordability. So property doesn’t crash, but people panic. Right. So what’s happening is the rising cost of interest rates are starting to slow demand and we can see that in Sydney and Melbourne. Yep, Sydney and Melbourne are leading the slowdown. Buyers are becoming more cautious and price sensitive momentum is weakening from a really strong run. Now this is what we’re predicting, not as in we but Australia in general predicting is going to be the average house by mid year. It’s going to be $1.13 million for the average house. Yeah. George Markoski This is crazy because I remember as a kid and when I imagined $1 million property, I imagined the massive mansion, one of those big white mansions you see, you know, in Richie Rich or something like that. But really, you know, a $1.13 million property these days, that’s the average property that’s going to be mid year. And this is the deal. If you haven’t already got a property, you’re going to miss out. Because there’s a lot of changes happening at the moment with 200,000 thousand homes short and nobody’s fixing this. So new housing suppliers falling behind demand as major projects just become harder to deliver. And rising costs squeezing margins and putting builders in the pressure. As a result, fewer develops are moving forward and this is actually reducing the new supply and actually making the gap even wider. 74%, That’s the increase. Right. George Markoski That’s how much it costs to build the same house you grew up in. Now the 500,000 new build is dead. It’s never coming back so the average dwelling build cost 2019 versus 2025. So the average build cost here you can see in 2019 for detached was 339,000. Now it’s 550 units and apartments was 320. Now it’s 608,000 for the average unit and apartment. So it’s gone up. The average has gone up 74% from 2019. And that’s it. So basically this reducing entry level supply and pushing prices higher. And now this is round two. The round two pricing increase for builders is loading and it’s bigger. So input costs increasing once more, driven by energy, fuel and materials, there’s another layer of pressure to an already stretched system that’s been stretched to the max. George Markoski So projects are becoming even harder to deliver which is pushing supply even further behind. And have a look at this. You know, plastic piping plus 32%, quarry products plus 50%, cement plus 25%, concrete surcharge, fuel 100%, land prep 30%, steel 15%, timber 12%. And we’re 70,000 tradies short. And you can’t import a roof. You’ve got to put it together right? So labor shortages are getting worse with fewer new workers entering the industry while demand keeps going up. So this is going to make it really difficult. So that’s what we need if you want to hit our target. And your builder is one bad job for going under. So rising costs have crushed margins and fixed price contracts are locking in losses. As a result, more builders are going under. This reducing construction capacity and slowing new supply. George Markoski If you have a look at this graph from 2009, you can see construction insolvencies were about 100, 150, and then they went right down. And then look at them now, they went up in 2023 to over 400, nearly 500 post Covid. And they’re still very high. And the thing is, you look at this graph, this hasn’t factored in all the latest rises. So even before these rises we’re getting, we’re losing 300 per quarter, 300 builders. And it’s going to get worse because it takes time to go through the system. Migration didn’t slow, the houses didn’t keep up. Population growth is driving demand. And recently, I don’t know if you saw this, but recently India has beaten England as the place where most people in Australia that were born overseas from that country, because it’s been traditionally England for like 100 years. And that’s changed. George Markoski So this is what’s happening. We’ve got another 13.4 million new Aussies by projected to come into Australia by 2065 and 81% of them are going to cities. This means demand will stay concentrated in major urban areas where supply is already under pressure. There’s 13 million people, big number, massive. Now this is the deal. Bigger cities are actually harder to expand because what happens is as cities grow, they become more complex and more expensive to expand them because the same population growth now requires a lot more infrastructure. Charmaine Adam So you’re thinking that with that bigger expansion, you’re going to see a lot more regional areas starting to really go through huge gentrification to look, 83% of. George Markoski People coming to Australia come to major cities. And the people coming here, they’re used to major cities, they like it. They’re not. They’re used to apartments, they’re used to major cities. So different. What you’re saying makes sense because what’s happening now, people can work from home and because of that luxury, that means that regional places that are really well placed are actually going to grow a lot more than they traditionally have. Because in the past it was impossible to get a good job in a regional center. But you can actually live wherever you want. You can live in the middle of nowhere now and if you have a good Internet connection, you can still have a high paying job. That’s never happened before in history. But you’re still not going to want to live out in the middle of nowhere in the outback. George Markoski You’re going to want to live somewhere nice though, aren’t you? What it means for investors. Okay, so this is what it means. Government just lost control of housing, right? So rising government spending, including major programs like the NDIS is forcing tighter controls. So we’ve got, you know, originally we designed NDIS for 410,000 people. Currently we’ve got 760,000 people. They want to reform it to 600,000. But at the moment looks like we’re going to have 900,000 people in NDIS, right? We needed 240,000 houses, we built 170. So we’re already falling short. But this is nothing because what’s happened recently with construction and construction companies are about to, you know, because what happens is when you’ve got prices going up, doesn’t end up with people going broke straight away, it takes a while. George Markoski So next year or two of pipeline, we’re going to have a lot of construction companies going broke and we’re going to be able to build a lot less. But not only that, even our pipeline is not Big enough. But our pipeline is not going to translate to real properties. So over the last 30 years, our construction productivity has gone down 12%. So the media’s got the story backwards. The headlines say, housing crisis, affordability disaster, property is unfair. The truth of every word is that is bullish for owners. Owners win. Every time the system breaks, renters pay the bill. So pick a side. You want to be an owner? You want to be a renter? Now watch this video that I did a couple of weeks ago. It’s been shared like 5,000 times. More than that, maybe 10,000 times. George Markoski And this is the issue of Australia at the moment. George Markoski (Recorded Video) This is why Australians feel broke in one of the richest countries on Earth. Norway digs it out of the ground and every citizen gets richer. Australia digs it out of the ground and somehow you get the bill. Same game, completely different rules. Norway taxed their resources, properly built a $1.55 trillion war chest. Turn gas and oil into generational wealth. Australia, we export the gas, we export the profits, then we import the excuses. And here’s the part no one wants to say out loud. We are not being outplayed, we are being sold out. Because this isn’t incompetence, this is a system working exactly as designed. A handful of global gas players make billions. Australians get higher power bills and a lecture about market forces. Market forces? Mate, if it’s your gas under your land, you shouldn’t be competing with Japan for it. George Markoski (Recorded Video) That’s not a market, that’s a joke. Let’s get real. If Norway ran Australia’s gas industry with lower energy costs, a sovereign wealth fund worth trillions future generations set up for life. Instead, we’ve got sky high energy prices, peanuts in tax revenue, politicians too scared touch the cartel, and every time someone suggests taxing it properly, the same tired line rolls out. They’ll leave. Leave what? The gas. It’s not going anywhere. This country doesn’t have a resource problem. It has a courage problem. At some point, Australians need to decide, are we owners of this country or just tenants paying rent to it? George Markoski That was my little rant and I’ve had a lot of comments, Thousands and thousands of comments. And now what’s happened recently is the Albanese government once again has said we can’t tax the gas because it’s going to interrupt supply. And you know what? It’s piss week. Very pissed week. Now, we send gas to Japan untaxed, and guess what Japan does? Taxes it and gets money on it, right? They get to tax our gas. We don’t literally. So let’s keep going because I need to finish my little rant. So, and if you look, you compare us to Qatar. Qatar as well, right? You look at Australia, right? We export 86 billion in gas, we get 10.5 billion. Qatar export 83 billion and get 56 billion in government revenue. Now at the moment, gas has gone through the roof. George Markoski And this gives Australians an opportunity to make a lot of money. But we’re giving it all to the gas cartels that run Australia. So let me go through this next part. They won’t tax gas and they can’t manage the ndis. So guess what they’re doing? They’re coming after you. Where the tax dollar actually goes and why. Property investors are the easy type. So Qatar 56 billion, Australia 11 billion. Same gas, same demand, completely different outcome. Right? This is the thing. You look at this and you look at Norway and Qatar and Norway, they’ve got this one part right? But what are we going to do? Okay, this is the gas money they refuse to collect. 56% Of Australian LGN ships royalty free -4 to 50 million part revenue fell while profit surged. George Markoski We got 17 billion of potential revenue with a 25% resource tax that people are pushing for. But the government’s too piss weak to try to get it right. NDIS costs more than defense. Our budget is 46.2 billion dollars for 739,000 participants. The age pension is 62 billion for 2.6 million pensioners. Right? And the thing is, I’m not against NDIS, but the problem is it’s growing 10% and it’s on track to be 125 billion by 2034. Have a look at the next slide. Next statistics, right, 86 million dodgy claims, 880 million in non compliant payments flagged. 2.5 Thousand providers disrupted and 160 participants cut on or reassessed in reforms. Right? So they’re cutting 160,000 genuine participants to save money, while dodgy providers are taking money instead. Right? So EID NDIS are not getting it to save money. George Markoski The people that ripping them off are staying there. So where do they go after for easy Money? Gas companies, 15 to 17 billion left on the table. Lobby groups, donor class, too politically risky. NGOs, fraud, they can’t fix it. Too complex, too many votes, Bad options to be to cut Disabled property investors 5.3 billion Easy target squeezed from you. No lobless media scapegoat, rich landlords narrative. And that’s the issue at the Moment the rich landlord they want you to hate. The average taxable income of an Australian landlord is not billionaires. They’re working families at $91,000. That’s their income. The average investor. The CGT Discount cut from 50 33% Retroactive wealth destruction Negative gearing capped at two properties punishes portfolio builders Combined squeeze of 5.3 billion taken away from everyday investors. 71% Of landlords own just one investment property. George Markoski Media calls them rich, but they earn less than a senior teacher. So follow the cowardice, protect it. Gas companies 56% royalty free exports PRRT loopholes decades old write off still active mining lobby 25 million political donations NDIS providers 800 million flag minimal prosecution big banks record profits zero windfall tax attacked CJ discount slashed 50% netted gearing capped average investor income 91,000 not rich. And that’s what’s happening at the moment. But it’s not just property. They’re coming for your shares too. And this is the thing. What they’re doing is they’re trying to slash shares. CGT too. The problem is young Australians that are locked out of housing turned to shares to build wealth. But now the government’s going to take their money as well. Thank you, government. So glad that you’re doing such a good job. George Markoski So the government’s saying they’re trying to fix housing by, you know, trying to get rid of cgt, negative gearing. But if you want to fix housing, you’ve got to fix housing. Right? Don’t punish Australians who are trying to build wealth. Right? That’s the thing. Because what happens when you try to punish property investors? You end up punishing the people you’re saying you’re helping, which is the renters, because the renters are going to pay the bill at the end of the day. So the real question isn’t where the policy changes, it always does. The question is whether your strategy survives what it does. And that’s why what we do is we build, buy new, hold long, right? Structure from day one, never sell and refinance. George Markoski It’s not a strategy that hopes policy stays the same strategy built for a government that can’t manage its own budget. Now, let’s go through some case studies, real people, real results. Why smart investors are buying right now. Okay, now, Charmaine and Greg, I’m going to go through a case study and if they’re here, I’d love to interview as well. This is Charmaine in green. Great photo. This is the investment property they got in Yarra Bilba right. Costs 623,000. 20% Deposit settled in June 24th for 623. 623,650. The market value today is 985,000. The current profit on this property is over $360,000. They bought another property in Morayfield for 519,000. This one here now is valued at 737,000 with a current profit of $217,000. So current total profit is $578,000 in two years. This is almost $300,000 per year. George Markoski And that is what I talk about. Taking back control. Okay, let’s finish the presentation. Oh, Charmaine. Greg Cork Hey, Greg. Hello. George Markoski How are you? Charmaine Cork Good, good. George Markoski Excellent. Well, look, I want to talk a bit about your story because it’s very exciting, because we’re talking doom and gloom about what’s happening, but while we’re talking that you two have made over $300,000 a year passively. Right. Which is amazing, because, you know, passive income is what it’s all about. And what people don’t realize is passive income is the income you make while you’re sleeping, while you’re not doing anything. Right. You didn’t have to work for that, because the average person in Australia doesn’t make 300 grand a year, let alone passively. So what I want to do is go through your story, talk about how you found positive property. How did you find us, by the way? Charmaine Cork To be honest, I think it was Facebook. I saw an ad. I clicked on a button, had a phone call. George Markoski Yep. Charmaine Cork And went. Yeah. We were at a time. I had a big car accident in what year? 2013. So I came into some payout money. We bought a house, but we had leftover funds, and I had previously been bankrupt, so that was a big thing, and I didn’t know what to do with it, and we didn’t want to lose it. Greg Cork Yeah. Charmaine Cork We’d already lost everything before, so when I spoke to. I can’t even remember who it was at the time. George Markoski That’s okay. Charmaine Cork Yeah. I spoke to them. They explained the system, went, oh, that makes sense, because I love property. Greg’s the shares man. George Markoski All right. Okay. Charmaine Cork We’ve converted him now. George Markoski So how. How did you convince Greg to do property if he’s a shares man? That’s the thing. Charmaine Cork Okay. Because we lost so much money with the shares over Covid. George Markoski Okay. Okay. Yes. Okay. Charmaine Cork Yeah. George Markoski So you’re. You’re burnt before. So. With the shares. And you thought, okay, let’s try something different. And what. And how did you decide property? Charmaine Cork My father was a builder and always instilled property, property. We had properties before went bankrupt. Just our house and losing that was like gut wrenching. But to once we got money and back again it was like, okay, how do we build for our kids? That’s a big thing with me and Greg because as you said, the kids can’t afford anything anymore. George Markoski No, no, they can’t. Charmaine Cork We want to be able to leave them with something that we built and they can keep building on. So that was a big thing for us with property. If I can leave them, I’d like to leave them two each, but one we’re doing at a good start at the moment. George Markoski Beautiful. That’s excellent. You’ve got two kids obviously. Is that what it sounds like? Charmaine Cork Three kids? George Markoski You need to get one more. We need to get one more. Charmaine Cork One more property in Sydney that I’ve just moved out of so that’s now an investment. And I’ve moved up to Darwin to live with Greg because we’ve been apart for five years just while we’re building everything. George Markoski Okay, okay. That worked. That would have been tough. Charmaine Cork Oh, I flew a lot up and down Sydney. George Markoski How do you enjoy Darwin compared to Sydney? Charmaine Cork I love Darwin. It’s amazing. It’s a bit more like Bali so I like that tropics. I like the food, I like the relaxed. It’s different. It’s a community. George Markoski So I really love, I love Darwin. I’ve been to Darwin many times because I used to work in the car industry and I used to work with the Toyota dealership in Darwin and the Ford dealership and I, I love mud. Cr. Crabbing in Darwin and the fishing. Charmaine Cork Haven’t done any of that yet. Yeah. Greg Cork So you’d love the fact that Mendel Market’s opening night is tonight. George Markoski I make a tradition every time I come here. I come to the Mendel markets. I love it. It’s such a beautiful spot. It’s fantastic. Greg Cork Yeah. Charmaine Cork Yeah. Greg Cork Well it’s literally from where we’ve bought. It’s about a 10 minute walk if that. So we are beautiful. Bay is where we’re born. George Markoski Oh, that’s lovely place, Columbine. Greg Cork This is going to be our bolt hole because the one in Sydney, even though we bought it over two years ago has made next to nothing. George Markoski Yeah. Greg Cork So this is going to be. It was an Occupy own occupier. We change it all of that loans over shortly to investor. So we’re going to actually have extra money. So we’re going to have an Extra couple of grand a month to build up our war chest to buy another property. And we’re not going to sell it, so we’re not worried about the capital gains. We’re just going to lock it in and that’s just leave it. George Markoski Exactly. And that’s what we do. We buy, we. And when you work long term, that’s the way it works. So. So you joined Positive Property. You must have been a little bit nervous. Charmaine Cork Oh, very nervous because I didn’t want to lose anything. George Markoski Yeah. Okay. So what gave you the confidence to join us then? Charmaine Cork I think it’s your team, like they just, they knew what they were talking about. I liked the behind the scenes. I like that you had someone in property. I like to have someone in finance. If I’ve got a question I can ask anyone and anyone can answer it is a big thing. So the product knowledge is massive. You know what, who you’re speaking to then. Because were offered a property fairly quickly because we had the cash funds. So once they send it through us, we looked at it. Greg did his reach and search. I don’t, I go, oh yeah, let’s go. He did his research, it looked good. We go, what can we lose? Nothing. So we did it and we haven’t looked back. George Markoski Yes, well, it did well for you, so. Charmaine Cork Yeah, really well. Really well. Greg Cork A big thing that I love about the Bosnia property is the circle of trust. George Markoski Yep. Greg Cork The reason being is. So we’ve got our mortgage broker, David Vegal, through you guys, he introduced David Light, who’s our accountant. George Markoski Yeah. Greg Cork We use PIP for all of our insurances, personal insurance, landlord insurance, property insurance. So that circle of trust was a very big thing because it saves you having to go out look for certain people. George Markoski Yes. Greg Cork Trust that they can do the job because you guys are obviously use them in debt them. That’s a big thing for me. George Markoski Beautiful. Greg Cork Super. Charmaine Cork We need to wealth managed. Super. Greg Cork So we set up ourselves. Manage super. All that sort of gear went through. Super strategists. Yeah. That’s a big thing for us. George Markoski Fantastic. Fantastic. What, what are your goals for the future? You’ve done very well. We got those two investment properties. You’ve made nearly 600000 in equity. Charmaine Cork Yeah. Greg Cork Oh, we need more. Charmaine Cork Yeah. So I got told by the mortgage if we want more properties, I had to go back to work. So I’ve gone back to work this week. George Markoski Well done, well done. Charmaine Cork Another one this week. George Markoski Yep, yep. Charmaine Cork This year plan is, I’m hoping by the end of this year we can get Our number four investment. So that’s sort of where my plan is to build up the wealth again. And then each year, slowly by one, I want to hit 10. Greg will be happy. Anything from now. So we’ll see. It’s all about our retirement and setting that up. George Markoski Yep. I think 10 is a really good goal. Charmaine Cork Yes. George Markoski Because it’s a great goal. And the thing is, you want to shoot the sky, you hit the moon, you shoot for the moon, hit the sky type thing. And I think it’s a great goal. Charmaine Cork And. George Markoski Yeah. Are you guys coming along this October to Queensland? Charmaine Cork I have booked it, but because I’ve just got this job. George Markoski Of course, yes. Charmaine Cork I have to see if they’ll give me the time off. Fingers crossed. But, yeah, we are definitely booked. Greg Cork We booked accommodation. Whether we do it, whether my schedule works out. Charmaine Cork Yeah. Because Greg’s a train driver, so he’s in and out as well. But, yeah, books that booked the super yacht. So, yeah, enjoy it. Because last time I was in Bali, we bought this place. George Markoski Fantastic. Greg Cork Now we love positive property and we’re going to buy more through 100. George Markoski Fantastic. What would you say to people that are looking at positive property or looking at investing in property? What would you say to them? Because a lot of people get nervous. Charmaine Cork Yeah. I’d say give it a go and trust the system. You have to trust the system. It’s hard if you’re a control freak, but know what they give you and all the information that you get, you can’t find out as a normal person. Like, the background search is just. It just beats anything you can find on your own. And you know you’re not going to get something bad because it looks bad on you, so. George Markoski Exactly. I mean, my reputation. Charmaine Cork Yeah. On it. George Markoski Yeah. I want to go, hey, you bought two properties, you made no money. That be not a good study. That wouldn’t be a good case study. No. Charmaine Cork Yeah. Greg Cork And I think one of the things you talked about and it actually makes sense, but it’s very simple is you hold the property, you have your interest only the money that you would. You would have paid extra to pay down that mortgage, you know, goes to the next property which then goes property, which then goes to the next property. Because as you said, Charmaine said, our kids are not going to buy in this environment. As much as I want my kids out of Sydney, and I don’t know if they’ll ever leave Sydney, but we need to then do something, you know, I know it’s the bank of Mum and Dad and the government is Making it harder to be the bank of mum and dad. But I can’t say anything. Greg Cork You know, we’re going to be gone in 20, 30, or maybe 30, 40 years. George Markoski People living longer, so you need to plan for longer. You know, they really are still going the latest technology on longevity. I need to do a session on this. It’s amazing. How old are your kids, if you don’t mind me asking? Greg Cork Caleb’s 33. Leilani is 27 and 26, and Jai is 24. George Markoski Okay. You know what? You know what’s better than buying them a property? Charmaine Cork What? George Markoski Getting them to do it themselves. Charmaine Cork Yeah. Well, that Elders has got a brain injury. He’s disabled. George Markoski Yep. Okay. Okay. Greg Cork Yep. Charmaine Cork So he’s the only one. The other two. Yeah, well, we’re working on them. As long as they got stability, we’re happy. George Markoski Yep. Because we got the legacy program. Yeah, I know that because there’s. There’s two ways you can help someone. You can feed them a fish or teach them how to fish. Yeah, and teach them how to fish is harder. A lot easier for you to just buy a property and go, here you go. Which is great. But even though teaching someone how to fish is harder, the value they get out of it is much higher. Yeah. Because what I’ve noticed, and we’ve. We’ve got quite a few members all around Australia, as you know, we’ve helped over three and a half thousand people. And there’s a few people that I’ve personally seen go through and we’ve had people that, you know, they joined the program. You know, this one young guy is a truck driver, joined the program. He didn’t have a lot of confidence. George Markoski He was getting actually bullied at work. He joined the program. Not only did he lose weight, but he lost weight. He got a better job with more pay, ended up getting a girlfriend. All that from the confidence of doing one thing really well. You know what I mean? Which is a massive difference. Well, instead of staying at home and buying these cars, he did a lot better. And then, you know, we’ve had other people with one girl and she was in quite a very average relationship, even though she was very successful. And after she invested in property, she said goodbye to him and moved on and became free, because before that she wasn’t. So it’s amazing what happens to people when they become more confident. George Markoski When you do really well in one area of your life, it really helps all the other areas of life as well. Greg Cork But, yeah, I agree. It’s just trying to get that start because Sydney like three kids in Sydney. It’s just really hard to get that start and get your head above the parapet or even just get your fingernails on the parapet. George Markoski That’s why red vesting. That’s what I did. I lived in Sydney and I found it very hard. It was very difficult. Right. And that was, you know, probably cheaper back then when I was doing it. But. Yeah, yeah, but I was like, we made some good money in Sydney now at the time. Oh, there you go. There you go. Exactly, exactly. Because when I moved back to Adelaide, I was like, wow, I didn’t realize things could be so cheap. But you know what happened? I was so used to Sydney, I was walking in the mall and I was almost knocking people over. Because in Sydney everyone walks so fast and in Adelaide everyone’s just darting along. Greg Cork Yeah, yeah, I know the difference. I go to Adelaide every two weeks just about. And yeah, it’s. It’s funny. George Markoski It’s a funny city. Yeah, definitely. Anyway, look, I appreciate you both. Thanks for being part of our community. Well done. And I look forward to seeing you kicking more goals in the future. Charmaine Cork Thank you. Greg Cork Thank you, thank you. George Markoski Yeah, so there we go. That was really good. It was good to hear that. It’s pretty amazing that, you know, with inflation going up, what people are doing in property and what’s going to happen,. Charmaine Adam That security and that safety net for your future. Greg Cork Yeah. George Markoski And the thing is if they change negative gearing or cgt. Right. Because a lot of people are worried about that. A lot of people probably looking now at, you know, what’s happening and going, shit, what’s going to happen? This is the thing, what you need to do, get into property quicker because they’ll probably grandfather it. And if you buy property before they make the changes, you’ll probably have a much better opportunity. But it ain’t going to help the property. What they’re doing at the moment, the government, I find, is really gutless. They’re leaving all the big corporates and trying to attack the middle class as they always do. It’s ridiculous. We’re going to go through some Q and A. Charmaine Adam Let’s have a look. A lot of comments here. No question. So we’ve got great video in. The success story was the rent at the beginning. And at the beginning and today. George Markoski Oh, yeah, that’d be good to know. I think we should get that as success stories. I guess what I’ll do then, why don’t we say goodbye to the public, go into our private group and then we can get some real questions answered. I just wanted to say everyone that came along, thank you so much and look forward to seeing you next Thursday night.