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The Forum > Article Comments > How government increases housing prices > Comments

How government increases housing prices : Comments

By Vladimir Vinokurov, published 31/3/2017

Compared to local salaries, Australian cities are among the world's most unaffordable places to live. But you may not know why.

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Decentralization and a dozen or more brand new cities, will create enough supply to put downward pressure on house price as would a return to new estates create by government as affordable commision (rent to buy) housing then with that done just remove negative gearing! As for being able to afford it, why not increase the upfront taxes loading on foreign investor residential investment?

To create an exponentially expanding pool of money used exclusively to fund it off budget?

Decentralization and new cities, replete with their own CBD's, schools, shopping arcades/centres and industrial estates, is more about when rather than how, and every decade of delay just effectively doubles required infrastructure spending/roll out!

The oldies were able to do this and massive, now impossible? Nation building projects!

But we can't? Why? Are our current crop of leaders so abysmally dumb or financially illiterate? Or are they and their clung to with rare determination, self serving, highly flawed policies the actual problem? Which is in no way alleviated by diabolically dumb, up and out expansion of already overcrowded cities!

Up and out suits the needs of established big department stores, office towers and developers, rather than the general (economically enslaved, captive cash cow) general populace!?

Redevelopment just costs more in the long run, every which way, than just building from the ground up somewhere else!

We are not short of room, just ideas and affordable energy, which only needs to be coupled to affordable assured (desalinated seawater) potable water, along with some rapid rail links! And very doable and affordable, currently!

That done and all else will follow!
Alan B.
Posted by Alan B., Saturday, 1 April 2017 9:44:06 AM
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Alan, just how will the removal of negative gearing provide affordable housing?

As for the other ideas you mentioned, you do realise that one, we have a very small population spread out over vast areas, two, our costs are way too high to build just about anything in an affordable manner, and three, with our 'entitlement mentality' too many dislike the tought of having to pay to use something, like tolls.

But i am most interested in how you think the removal of Ng will help the situation.
Posted by rehctub, Saturday, 1 April 2017 9:13:57 PM
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Rechub: Forgone tax, funds negative gearing, which ought only apply to bona fide commercial investment, not safe as houses, virtually risk free residential real estate.

Investing capital needs to be accompanied by a measure of risk (capitalism) to ensure due diligence and financial prudence!

With the money saved by repealing residential real estate negative gearing and subsidized capital gains in that market, poured into rent to buy housing commision estates.

Would #1, put a handbrake on unreasonable rent rises and overleveraged overvalued real estate.

#2, Act to progressively draw down massively overvalued real estate and progressively return affordability to the market.

I've made money buying and selling houses! By buying doer-uppers, and living in them while renovating, mostly kitchen and bathroom updates, installing flat pack BU wardrobes and a paint job.

And cash in when the property appreciates courtesy of affordable upgrades. So the profit component is connected to the sweat of the brow and saved rent!

Who could arguably justify more and not look like a blood sucking (rent roll) parasite?

A rent to buy paradigm roll out by government would put a turbocharger under the general building industry and flow on to the rest of the real economy! And as rent or house payments rolled back in add to the growing pool of funding for that purpose!

A new people's bank would make an ideal vehicle for said pool administration, or credit co-ops?

And that's how repealing negative gearing helps as does removing unearned parasitical profiteering!

Nothing wrong with actually earning it, and in squillions, if that's your goal? And good luck with that!
Alan B.
Posted by Alan B., Sunday, 2 April 2017 11:00:33 AM
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Alan, i will reply to your post shortly.
Posted by rehctub, Tuesday, 4 April 2017 4:26:16 AM
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