@mattbowes
It’s a damned if you do, damned if you don’t situation exacerbated by owners of multiple property and govt incentives affording real estate to be treated as a universal financial investment vehicle.
As for pointing fingers at onwer-occupiers, it’s a little disingenuous to do so. Land taxes are paid by home owners in the ACT, don’t know enough about other States and Territories tax systems to comment. Home owners only benefit from capital growth because of the way the system is ‘gamed’ by investors. Property developers get away with murder (sarcasm) and it’s time for an overhaul of development/building regs. Longer rental contracts (I’m talking 10-20 years) would go a long way to solve some of the housing crisis issues, as would a convincing public housing sector. There are many working community, public housing schemes in the world to learn from if self-interests didn’t get in the way.
The Housing crisis is solely the making of political (legislative/regs) and policies issue. The answers to our housing problems is in the hands og govts (Federal, States and Territories). If one really wishes to know why we have a #HousingCrisis, we only have to follow the money…
This is a view from ground-level, ignorant of financial and budgetary technicalities, impacting self-interests, legal barriers and States and corporate finances. IMHO, all of the above are just smoke-screening what is a govt’s social responsibility towit: to ensure everyone has a roof over their head.
Not looking to shoot the messenger here…
#AusPol
