Why 'Flattening The Curve' Will Create 'Wave Of Wealth' - Members
Why 'Flattening The Curve' Will Create 'Wave Of Wealth'
Australia's success in flattening the curve and our low COVID-19 death rate is tipped to make our nation one of the most desirable locations globally.
While it's too early to celebrate, and a flattening of the Coronavirus curve will still likely see us practising social distancing for many months into the future, we do appear to be emerging as one of the most successful countries in this unprecedented fight. In comparison, we wake each day to learn about rising death tolls in many iconic first world cities around the world, as they struggle to control this heartbreaking crisis.
Some countries will never be seen the same again. Some dense urban cities will be seen as breeding grounds for future potential viruses. And entire medical systems will require extensive reviews and upgrades, potentially making already unaffordable medical services even more expensive.
Americans could be facing $75,000 in COVID-19 Medical bills!
Americans that test positive for COVID-19 and require treatment, the hospital bills are reported to easily cost tens of thousands of dollars, even if you have insurance. One investigation this month revealed that uninsured Americans with COVID-19 could pay an estimated average of $73,300 (US) for a 6-day hospital stay. At the same time, insured patients could expect to pay a portion of the $38,221 average cost billed to insurers.
A growing wave of Americans recovering from COVID-19 are currently being surprised to learn they face substantial medical bills they mistakenly believed they wouldn't be responsible for paying. This brutal reality could sadly see thousands of Americans hiding their symptoms from authorities to avoid sending their families broke. This realisation has now seen the Trump administration step in this week to negotiate a stimulus package to offset many of hospital-related expenses to comfort people showing symptoms to seek medical advice.
Today, with tens of thousands of new COVID-19 positive cases reported in America each day, and the highest daily death rates globally, the US will almost certainly come out of this crisis with massive questions over its health care system. But they're not on their own, a rising number of countries once considered safe are now becoming questioned as pressure rises to contain this virus and rapidly rising death tolls.
Australia's popularity protects our property values.
Every time a crisis of some nature fuels investor uncertainty, I'm often asked why I'm so confident that the Australia property market won't see a massive crash. At times my answer will involve several key ingredients that I feel underpin the strength of our market, but over the past five years, there is always one 'trump card' that we can play, and it has more strength today than ever before. The strength lies in the ability of our government to adjust regulations around migration to our highly desired country. That strength is about to become much more robust than ever before.
The majority of Australians hold their wealth in real estate. The Australian government encourages private investors to supply housing within Australia, so they don't have to fund this requirement themselves. With so much riding on the back of the values of the national residential property market, the government understands the importance of taking steps to control any rapid rise or fall in our property values. Behind a wide range of options available to them, they also control the volume of wealthy migrants that relocate to our shores to soak up any oversupply issues leading to falling values or tighten this intake to reduce the risk of overheating a property boom.
More millionaires move to Australia than any other country
Millionaires are fleeing their homelands, and Australia is their number one choice. The world's wealth is increasingly on the move, and Australia has become the most desired country by high net wealth migrants. Eighty thousand millionaires migrated across borders in 2019, a 20% increase on 2017, and more than double the levels seen in 2013, with Australia outperforming the US for the fourth straight year and recording the highest number of migrating high net wealth individuals globally.
This trend is now expected to grow. New interest in relocating is expected to ramp up over the years ahead as people of all wealth levels weigh up where they want to raise families or enjoy their retirement years. Our easily closed borders, free health care system, and reputation for wide-open spaces and clean, healthy living could see a massive boom in both tourism and requests to move down under permanently, underpinning the strength of our national property market.
Retirees that once planned to leave the UK to live in Spain or Portugal will now review this strategy. The perception of the US and its health care system will also change for countless others looking to relocate. Australia's location has until now been a key reason it is the hottest choice, particularly for these high net wealth individuals looking to start businesses and capitalise on its connection to the Asian economies. Still, new safety requirements are expected to see our popularity to put us in a pathway to a vast wage of wealth.