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The Forum > Article Comments > Is housing affordability the egg we canít unscramble? > Comments

Is housing affordability the egg we canít unscramble? : Comments

By Ross Elliott, published 10/2/2017

Politicians are starting to get the message, but is it all too late? Has the affordability horse bolted, permanently?

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They say robots gonna do a lot of jobs so its cray how theres still mass immigration. Slowing immigration would level prices, that way it'd be easier to start up new farms around the place.
Posted by progressive pat, Friday, 10 February 2017 12:56:52 PM
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No it is not!

Suggest we stop listening to developers and real estate agents with considerable skin and mucho plenty vested interest in the game! And instead focus on what is actually possible?

Which has to include quite massive decentralization. And dependant on getting road block state governments, councils and their landbank friends out of the way.

Then remove all the front end loading, taxes, fees and charges! About 40% of the current cost of current house prices? And replace them with a reasonable and affordable capital gains tax? And more revenue anyhow, from a much bigger real estate market?

Negative gearing must go as well as forgiven capital gains tax, which ought be made retrospective instead!

Then understand we have the money as a two trillion dollar fund in our super to unleash in as safe as houses investments. Then start with the roll out of rapid rail and fibre to the home NBN ASAP.

Do it right the first time and never have to do it again, possibly for twice as much ten years on?

With the missing elements in place, start to release enough land to oversupply demand! Then as they say in the classics, the rest will be history.
Alan B.
Posted by Alan B., Friday, 10 February 2017 1:01:05 PM
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Mark well Ė Ross is connected to the Property Council, and the Property Council is interested only in developers, owners, landlords etc Ė anyone who makes a dollar out of the industry. Homebuyers, renters etc are not an issue for the Council. Ross is probably a nice bloke, who wouldn't hurt a fly, but on this matter, we must treat him and the Property Council as the enemy. I live in a retirement village, and I have just received word from the Minister that the new SA Retirement Villages Act has been passed and will be adopted in 2018. The Property Council will be miffed, because much of what they wanted has been denied them. Residents have gained some ground.

Housing affordability is a big issue for young families and anyone not yet in the market. I do not believe that the Property Council has anything to offer to what is purely a societal matter, better attended to by people without dollar signs in their eyes.
Posted by ttbn, Friday, 10 February 2017 1:50:04 PM
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To make housing more affordable:
1. Increase supply by making much more land available for high rise flats. Charge an improvement tax to ensure community facilities and roads can be improved to match the increased demand.
2. Increase compulsory superannuation payments to reduce demand via negative gearing and provide a better alternative investment strategy.
3. Abolish payroll tax in rural areas to encourage business to shift to the country.
4. Impose inheritance tax on housing to encourage people to avoid / move out of expensive homes geared to capital gains growth, driving down prices.
Posted by DavidR, Friday, 10 February 2017 2:15:13 PM
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Infrastructure is the answer....good quality public housing dispersed through random suburbs and towns, and lots and lots of it.
In fact, flood the market to the point where rents drop significantly.

This will discourage the causes of non-affordability, and will better key into the reality of insecure employment, which also discourages home ownership.
It will remove the distortion from the existing negatively manipulated market, by discouraging investment in housing.

Governments can then manipulate the housing market in the same manner interest rates are manipulated by the reserve bank.
It will give a voice to the powerless renters, and afford an opportunity to them to sway Government thinking at the polls.
Posted by diver dan, Friday, 10 February 2017 2:34:39 PM
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Everyone seems to have overlooked one aspect of housing prices compared to a few decades ago.
The sheer size of houses today!
My generation were satisfied with three basic bedrooms, one bathroom, one lounge area and a kitchen/dining area.
No ensuite, no games rooms, no theatre rooms or studies, no extensive patio areas, not even a carport.
I don't know anyone my age who bought a house that had more than 3 bedrooms, regardless of the size of family you intended. Couples with five or six children all shared the one bathroom. Kids bedrooms had bunk beds to fit all the kids in. Barbecue areas didn't have a covering.
Life may have been a little more crowded and inconvenient but that's what kept it affordable.
Posted by Big Nana, Friday, 10 February 2017 2:58:15 PM
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