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housing affordability

New: The Affordable Housing Party gets the population connection

"The Affordable Housing Party: the single issue party dedicated to solving Australia's housing affordability crisis. Australians are now living with some of the most unaffordable housing in the world, but it doesn't have to be this way! Obscene tax incentives to invest in property. Our lawmakers profit from the status quo. We opened up our housing market to investors all over the world. Australia's rapid population growth. Home buyers are paying too much to try to compete with investors. This can't go on forever!" Former journalist, Andrew Potts, Sydney, registered the Affordable Housing Party (AHP) with the Australian Electoral Commission earlier this month. Policies include: Phasing out negative gearing and capital gains discount on investment property sales; Stopping overseas buyers from buying Australian properties; Taxing properties left empty by investors; Cutting down immigration to 70,000 annually; Banning full time Airbnb properties; Ending “no fault” evictions for rental properties. Facebook page is https://www.facebook.com/AffordableHousingParty/

Why Chinese investors find Australian real estate so alluring

Chinese investors are often blamed for Australia’s escalating house prices but a number of factors might mean the demand will drop off in coming years. A recently released report found investment in residential real estate by the Chinese is slowing. As the gap in rental yields between the two countries closes and house prices increase, Australian residential real estate is beginning to look less attractive. The lifting of restrictions on Chinese urban residential property ownership and personal investment monetary restrictions may also play a part. [Article first published on The Conversation, May 1, 2017]

Poor old Japan: Low unemployment, less crowded, cheaper housing - by Leith van Onselen

"For more than a decade, the Productivity Commission has debunked the common myth that immigration can overcome population ageing. [...] If Australia was truly a ‘clever’ country like Japan, it would manage population ageing by: 1) better utilising existing workers, given there is significant spare capacity in the labour market; and 2) where required resort to technological solutions. The last thing that Australia should be doing is running a mass immigration program which, as noted many times by the PC, cannot provide a long-term solution to ageing, lowers wages, and places increasing strains on infrastructure, housing and the natural environment." This article first published at https://www.macrobusiness.com.au/2017/06/poor-old-japan-low-unemployment-less-crowded-cheaper-housing/#comments

Eastern Europe's home ownership leads the world; France is catching up; Australia far behind

A growing number of French people own their own homes. Ownership runs at 64% today, and is expected to grow to 68% in the next six years. France is well behind other European countries though in home ownership. The champions are in Eastern Europe. 96% of people own their own homes in Romania. 70% own their own homes in Italy. Seven out of ten French home owners have entirely paid off their home loan. For people purchasing today, the average time to pay off a home is 17 years. This is a situation to dream of for Australian home-buyers, who are only second to Hong Kong's in suffering under a terrible system. The French system discourages land-speculation in a number of ways which therefore deter the flourishing of a malignant property and growth lobby there. This article is based on a France2 news item "L'achat immobilier, une valeur sure plébiscitée par les Français," 29 January 2016.

Government says these measures will strengthen the integrity of the foreign investment framework

The Coalition Government today announced that it is taking action to strengthen the integrity of our foreign investment framework.

The Government recognises that foreign capital is vital to help grow our economy and provide jobs. In the case of residential real estate, the current foreign investment regime aims to channel foreign investment into new homes for Australians to purchase or rent.

Housing affordability crisis driven by demand-side factors

"Address population growth, tax concessions and foreign buyers." (Sustainable Population Party). The federally registered Sustainable Population Party says Australia’s housing affordability crisis is largely driven by demand-side factors, rather than supply-side issues. The party will take its message to the street at upcoming auctions across Melbourne, including The Block Auction on Sunday October 11.

The irony of the Vietnam War versus the Australian Property Bubble

The Vietnam War led by the US spanned most of the 1960s through to 1975. The famous motto “All the way with LBJ” developed as a result of Australian PM Harold Holt’s commitment to military support of the US led War in collaboration with Lyndon Baines Johnson, the US President.

The conventional political wisdom at the time was that the North Vietnamese “Commos” were simply part of a larger Communist “Empire” led by Mao Tse Tung; the Chinese Communist revolutionary and founding father of the People's Republic of China, which he governed as Chairman of the Communist Party of China from its establishment in 1949 until his death in 1976.

The War was controversial and based partly on something called the “Domino Theory”, which meant that Australia was exposed to the threat of invasion by the Communist Chinese. Once the Commos took South Vietnam we were done for.

Today Australia faces the irony of an “invasion” by the Capitalist Chinese. Their money is invading Australia.

Booming housing market leaves first-home buyers behind

Originally published in Miscellaneous Comments. - Ed
The Age reveals that first home buyers made up a record low 12.2 per cent of new housing loan commitments in Victoria in September, a sharp fall from the peak of 31.6 per cent in May 2009.
"I can see the difficulties for young and first home buyers of getting into the market," said shadow treasurer Chris Bowen, who labelled the affordability crisis a serious national issue.

We are letting our resources luck turn to dust

Paul Cleary’s book Too Much Luck: The Mining Boom and Australia’s Future, is a timely appraisal of the dramatic economic and social impacts, as well as the political ramifications of the current resource boom.

This review of Paul Cleary's book by Professor Kerry Carrington, Head of School of Justice at Queensland University of Technology was originally published on theconversation.edu.au on 25 November. It is being reprinted here with her kind permission. Professor Carrington asked that this review be republished as widely as possible.

Salvos part of the problem now, it seems

The Salvation Army has joined a growing list of faith-based community aid organisations that have jumped onto the urban development bandwagon at measurable expense to wider community interest.

Immigrant demand denying Australia's Gen-Y of urban housing

A SENIOR Treasury official has sounded the alarm over Australia's property market.
He has warned that the prospect of a sudden and dramatic drop in prices is "the elephant in the room" and should not be ignored by the federal government.

Rudd's 'Big Australia' driving up costs of living and creating poorer Australians

Rudd's penchant for a 'big Australia' is behind his absurd record immigration policy. Population growth and congestion is out of control and is the common denominator driving up Australian land prices, electricity, water, inflation, consumer demand, interest rates and the costs of living of ordinary Australians.

Our state and federal public infrastructure cannot cope - roads, public transport, health, education, housing, you name it! The cost of living for ordinary Australians is becoming desperate!
See also Cost of housing and cost of dependency in Australia

Australia's Human Rights Inquiry - should we codify our rights?

Did you know that Australia is conducting a Human Right's inquiry? There are some very good submissions already and we reproduce one here, by Sally Richardson, "Housing as a fundamental human right - submission to the Human Rights Inquiry, Australia." The inquiry makes recommendations to government and Australia's government is very good at ignoring citizens' opinions, but if we make a very big fuss it may be possible to claw back some democracy and citizens rights in this country. The rumour is that Murdoch doesn't like the idea, so it must be a good one.

Australian renters' hardship demonstrates need for European-style tenancy laws

A letter, which appeared in Brisbane's Courier Mail of Saturday 18 October, notes that European renters can enjoy long term leases which allows them to raise their children knowing that they will be able to go to the same school. This allows their children to grow up to become balanced successful adults and helps create stable communities.

Ideas for affordable housing

The free-market housing solution of simply opening up cheap land on the fringes for housing will not provide the affordable housing we need. As well as addressing population issues we also need to re-think our overall approach to housing developments to reduce upfront and ongoing costs to the occupant. Sharing is one of the key answers to afffordability.

Property analysts again confirm immigration used to inflate housing prices

In an article Brisbane house prices tipped to fall 10 per cent in the Courier Mail of Thursday 31 July 08, property analysts differed over to what extent Australia's current record high immigration rate can counter the reduction of demand for Brisbane's hyper-inflated housing caused by the credit crisis.

See also: Brisbane's housing unaffordability crisis spun by ABC to promote property lobby interests of 23 June 2008.

Brisbane's housing unaffordability crisis spun by ABC to promote property lobby interests

Almost invariably reporting of Australia's acute housing unaffordability crisis does not inform the public of its causes, nor help it to arrive at a solution. The ABC's report No relief in sight for Brisbane's renters of 20 June 08 is no exception.

See also: Rent gouging threatens Brisbane inner city retail community of 8 Mar 08

Yet another article, this time on the ABC's online news service, No relief in sight for Brisbane's renters of 20 June 08 provides yet further confirmation that the polices promoting rapid population growth by all levels of government in Brisbane - local, state and federal - are recklessly harmful to many of Brisbane's existing inhabitants.

French housing market collapses

It is predicted that a new house will have to be on the market for a year before it sells now in France.

Sydney's housing crisis - a different view

IN ITS obsession with property prices and housing affordability, Sydney has overlooked a startling fact: the city is awash with empty buildings. The number of unoccupied residential dwellings in Sydney counted by census workers in 2006 was 122,211, with the highest number found in the inner city. That does not include the thousands of empty warehouses, pubs, churches and shops.

Skilled migrants causing problems

Skilled migrant workers from non-English speaking countries are adding to the problem they were meant to assist

Shared accommodation a necessity and no longer a choice for many in Brisbane

One of many reports about the ongoing and worsening rental crisis in Brisbane, is the article "Wanted: a Room to rent," in Brisbane's Courier Mail newspaper of 29 April 2008. The article reports trends where both co-tenancy and room-by-room tenancy is increasing.

See also: "Rent gouging threatens Brisbane inner city retail community", "The Courier Mail beats the drum for more Queensland population growth"

An upside to the US financial collapse?

"When ... the largest private employer in America, which is Wal-Mart, starts experiencing a shortage of customers, it needs to take a long, hard look in the mirror. About a century ago, Henry Ford realized that his company would only prosper if his own workers earned enough to buy Fords. ..."

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