What is the solution to housing affordability? | 7.30
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- čas přidán 16. 05. 2022
- Housing affordability has taken centre stage in the last week of the election. The latest major announcement from the Coalition, just six days before voters head to the poll, would see first home buyers raid their super to help them with their deposit.
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I tell you what, as someone who works in the insurance industry, the amount of people I come into contact with that own 5-10 properties both interstate and within their current state is baffling. There needs to be a limit to the amount of investment properties a person/family can own. You can release as much land from local governments as you want, but what good will that do when it's the same investors picking up the houses that come up for sale because they can outbid and over pay to no end compared to those in the lower-middle class. The greed of people already well off is the problem. Pure, unadulterated greed. Any increase to their expenditure is recouped by unregulated increases to the rent they'll charge their tenants, and in the current state of housing, you either pay what you're told in rent, or go homeless. My rent has gone up $100 a week after being in the same property for 2 years, every payment made on time, the same time every week, perfect inspections, and yet not one iota of this money has been put towards any kind of improvements to the property. We went 6 months without any heating due to the air conditioning unit breaking and it took a threat of a complaint to the ombudsman before action was taken. The way this country is going, I swear we will start to see millennial suicide rates increasing because at this point, what is the point when every step forward, the greedy push you 10 steps back.
I honestly can't be bothered anymore. The juice isn't worth the squeeze.
Step one, Ban air bnb. People buying houses to rent out on the weekends is hurting communities.
My parents are utterly convinced that I could buy a house tomorrow, and I rent an apartment just to spite them.
It's easy to solve this. Finish up negative gearing immediately and watch all the investors who are hording 2, 5, 10 or so properties put them on the market. Prices will tumble. Finally our young people will be able to afford a home!
It’s easy to fix but it’s against the interest of property investors, and that includes many of the politicians
I do own a home and if my home went down in value it wouldn't really matter. I need a place to live. If I need to upgrade then if all property is falling at about the same % then I'll still have the same purchasing power.
1. Abolish negative gearing
I'd say the biggest issue is the changed mindset of housing from being a necessity to an investment. This has probably been enabled through gung-ho policies and tax breaks (Capital Gains tax and Negative Gearing). Removing those tax breaks for properties that are not your main residence will go a long way.
It’s an absolutely awful idea to let them buy their house with super. The point of super is to take pressure off the next generation to support people when they’re too old to work.
American here. It would be positively disastrous if the federal government gave people early access to their social security.
Stop AirBnB.
It's almost like the market is incapable of self-management and neoliberal theory is absolutely worthless if you want a functioning economy that serves the citizens rather than a few big investors.
This is total bullcrap. The problem with US / AU /CA housing is UNIT SIZE. I live in EU. When I was at a start of my career I lived in a 40 sqm apartment which I bought. As our paychecks grew we sold the 40 sqm and moved to a 3 BR 90 sqm apartment. I see ppl here at entry level jobs living in what looks like 200+ sqm single family housing units. Thats just ridiculous.
Australia's relationship with housing has changed.... Yeah it's an investment not the thing that keeps rain off your head at night. Completely broken understanding
You shouldn't be able to own like 5 houses all negative geared as rentals and if you have to get them on a mortgage then it's not yours and you shouldn't be able to rely on renters for your "income"
Cure greed!
We can start with by not taking advice from rich news editors.
You also need to make sure that those who buy a house live in Australia and there enough houses that are affordable for renters
The issue is we have turned property into an investment vehicle... and whilst equity and capital gains are fantastic. Being able to offset losses against your income and being able to leverage your equity to buy more and more property is why we are screwed.