An investor of real estate has caused furiously after he claims that there is no costs of living crisis and that Australians have to stop spending money if they want to buy a house.
Jeremy Iannuzzelli, 35, is a managing partner at Praedium partners and owns no fewer than 15 characteristics that are worth a combined $ 20 million.
He recently spoke with colleague real estate investor Jack Handerson on his podcast and claimed that many Aussies were unnecessarily blamed for their financial misery.
“I don't believe we have a cost of living crisis,” said Mr. Iannuzzelli.
“I believe in my heart, we have a cost of publishing a crisis. People have not changed their spending habits into the economy that we are in higher interest rates.
'There are still people in cafés. There are still people spending money. '
Mr. Iannuzzelli said that people should only look at their wage packages to realize how well they do it.
“I get to see the income of many people and I can certainly tell you that most professions have doubled in the last ten years,” he said.
'Enthusiastic real estate investor' Jeremy Iannuzzelli said that Australia really suffers a 'expenses of expenditure'
'Absolutely people (are) work a smaller amount of days, I have certainly seen that.
'Trades, all as professionals and service industry to retail employees, there has been an increase in income, without a doubt.
'In those four years during Covid it spoke quite a bit. So yes, real estate prices have risen, but there has been a real material change in the increase in wages. '
Henderson agreed with his guest.
“I am an employer and the income has grown considerably, both with what people expect and what you have to pay,” he said.
Many online did not agree with the couple, and saying that their incomes have hardly risen as much as they claimed.
“Hey, just let you know as a wage as a plumber in 2015 was on average $ 40 to $ 50 per hour,” they wrote.
'The benchmark is now $ 45 to $ 60 on a wage. Let's really be here. I love your things, but this is wrong. '
The Podcast -Gastheer and Mr Iannuzelli have portfolios with several millions and have said that other Aussies could also do it if they reduce their expenses
“Most professions have doubled. I work in HR and I can ensure that the income has not doubled in 10 years, “another added.
“Of course, in some professions this can be the case, but most are not the case.”
In the past decade, nominal wage growth has generally been slow, on average around 2.3 percent.
According to the trade economy, the seasonal wage price index of Australia has risen by 3.2 percent on an annual basis in the fourth quarter of 2024.
The annual wage growth has been higher than 3 percent since the end of 2022.
According to AI Group, the wages of the public sector (3.7 percent) are currently higher than in the private sector (3.5 percent).
National house price growth surpassed wages of 1.9 percent in the same period, according to KPMG.
Mr. Iannuzzelli went to a podcast in January to explain how he could build his $ 20 million real estate portfolio.
He said he started investing in real estate in the early twenties and by the time he turned 28, he had a portfolio of 15 properties.
Mr Henderson, 28, claims that he built a real estate portfolio worth around $ 35 million after he had worked as a worker to buy his first Sydney house at the age of 18.
His first first building was a $ 720.00 apartment with two bedrooms in the suburb of Sydney Sydney van Coogee. He saved the money for his deposit while still living at home.
He previously told SBS Insight the reason that many younger Australians have difficulty buying real estate, is because they 'want everything now'.
The average price of a residence in Australia is $ 976,800, according to the release of 11 March from the Australian Bureau of Statistics.
That figure corresponds to more than 13 times the national, median full -time wage.
The median house price in the big cities of Australia is $ 1.008 million.
