Amir Meshel, founder of Aussie Coast House Buyer and CEO of Wavie.com.au
AI is set to increase the gap between rich and poor Aussie property owners, according to a Prop Tech CEO.
Amir Meshel, founder of Aussie Coast House Buyer and CEO of Wavie.com.au, said AI tools like ChatGPT, Gemini, Grok and Llama had the natural ability to take a large amount of data and only focus on the specific items that matched the prompts used.
He said houses advertised using AI tended toward homogenous listings and this negatively impacted any home owner that wished to advertise their home with a unique feature that isn’t commonly searched for.
“Homes advertised with AI often end up looking very similar, which can be bad for homeowners who want to highlight special features that aren’t typically searched for,” he said.
As an example, he said the most common searched listing is a 4 bed, 2 bath, 2 lock up garage house and if you have a 3-bed, 1-bathroom home, it never appears in AI search results because it doesn’t conform with the norm.
“So if your house is anything other than the norm or not a cookie-cutter home, no one sees it because AI doesn’t look that up. It closes its eye to anything not seen in the prompt,” Mr Meshel said.
“This means unless you have the money to add an extra bedroom or bathroom, your house won’t sell and this will drive a bigger difference between the rich and poor.
“Owners are reluctant to trigger stamp duty, capital gains tax and risk damage to their property by renting their PPOR (primary place of residence).”
He said this was the reason why so many bedrooms in Australia were vacant and we have a housing crisis where one person lives in a 4-bedroom, 2-bathroom house.
Adding to the housing crisis is a growing generational divide with 2 billion gen alphas globally.
As voting power shifts to younger generations, policies may emerge forcing retirees to share homes or lose benefits, exacerbating tensions. This shift could also see reduced incentives to work until 65, reshaping traditional work and welfare structures.
Younger taxpayers are set to increasingly resent funding pensions and welfare for retirees living in multimillion-dollar homes while the younger taxpayers struggle with skyrocketing housing costs. With average house prices set to double every seven years, the disparity will intensify.
AI-driven housing data further highlights the challenge, showing younger generations unable to afford anything but large, expensive homes.
“This is not sustainable,” Mr Meshel said.
“In 10 years time, this will be a tragedy.”
For more details, visit www.coasthousebuyer.au
Aldwyn Altuney
0409 895 055
PO Box 114, Southport BC, Q, 4215
Australia
We help you be seen, heard and known to your influence and impact to the world
This release was published on openPR.
