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The Forum > Article Comments > Housing as a 'good thing' > Comments

Housing as a 'good thing' : Comments

By Saul Eslake, published 12/11/2009

No Australian government would ever implement or advocate measures intended to bring on a fall in house prices.

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Good insight
One of the problems is the policy of urban consolidation and zoning that prevents subdivision. Inflation is a result of Government landbanking land, that should have been allowed to trade on the open market. This practice prevented competition, and prices have skyrocketed resulting in the inflation that is now evident.

If NSW Planning has done such a good job, then why is this State in such a mess. Is it the Planners or who is to blame? I have yet to notice any plans that have worked out as originally costed or planned.
Posted by 4freedom, Monday, 16 November 2009 12:14:24 PM
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Even blind Freddy can see that the Governments and estate agents are responsible for the present shortage of housing.

The Governments unwilling, more than incapable, to produce a national immigration policy comprehensive of housing needs, and the Estate Agents, who facilitated by the advent of Computers in the 90ties, combined into a single body (the Real Estate Institute of Australia) which, with branches in each of the States and Territories, has monopolized the exchange and renting of real Estate since the 90ties.

Before such time an Estate Agent charged a percentage on what a sale would fetch; An Estate Agency was a business based on the ability of the Agent to find a buyer on a limited advertising budget.

The affiliation to the novel Real Estate Institute meant rigid compliance with this body’s rule as condition of ‘being an estate agent’; hence came the crucial rule of charging sellers with advertising expenses.

So happened that housing became a no-risk business and the realm of the lowest rogues in the country, closely associated with politicians who used ‘grants’ to prop themselves in their balancing acts and Media Barons, whose profits are greatly dependent on display advertising.

Sir, we who are concerned, we who heard Housing Minister Plibersec at a venue for homeless in Melbourne say that by 2020 all will be sweet apple, would have appreciated if you Economists were to find for us the amounts in $ of real estate that changes hands, the amounts that goes into the pockets of estate agents and the media and all others who hang on the Housing business. Your figures so far are confusing.
Posted by skeptic, Monday, 16 November 2009 8:56:25 PM
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In regards to Michael from Adelaide's comments at the top of the article, stopping immigrants from coming to our country would prove much worse for the economy,creating a massive skill shortage and lower than manageable unemployment. The influx of people to our shores can be a great thing, it will have an effect on housing prices as well.
But State and Federal governments need to keep the supply of land coming and not allow developers to strangle the supply in a growing property market. I think the main issue to a lot of the property price booms is the control developers have over the way their land is released. When all they need to do is reduce less than the demand to over inflate prices.
Posted by McKhenry, Monday, 7 December 2009 7:42:06 PM
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