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Category Archives: Housing
The release last month of (albeit heavily redacted) Treasury advice to the Turnbull Government on the likely effects of the policies the Labor Opposition took to the 2016 election regarding negative gearing and the capital gains tax discount once again … Continue reading
The Annual Report for 2016 of the Women’s Housing Company demonstrates solutions to the terrible and growing situation of older women facing homelessness. These solutions however continue to elude policy makers, the media and business, whose failures to recognise the … Continue reading
There are ominous signs that Australia is breaking up into different social tribes. Our claimed egalitarianism and social mobility are under serious challenge. A mixed society is the best guarantee of social cohesion and social improvement. That social cohesion arising … Continue reading
The Berejiklian government in NSW showed this last week that it could act fast. To deal with the reported discomfort of the Premier, caused for months by a tent city of the homeless situated in Martin Place just opposite the … Continue reading
Pearls and Irritations recently posted a series of articles on the theme Making Housing Affordable. The series focuses on Australia’s housing affordability crisis. Most of the articles were posted just before the Federal Budget, but a few were posted afterwards, … Continue reading
Housing affordability was to be a key focus of the Government in this year’s federal budget, according to the ‘nods and winks’ that traditionally precede the Treasurer’s budget speech. A journalist who has often been privy to the thinking of … Continue reading
The Commonwealth’s budget has a Keynesian boost for a sluggish economy, and is based on an optimistic, or even heroic, assumption that economic growth will deliver a fiscal surplus within a few years. We have heard similar claims from treasurers, … Continue reading
Budget repair was never going to be easy. That is one reason why it has taken so long with quite a few false starts. While some of the individual decisions in this Budget are debateable, overall the quality of the … Continue reading
Making Housing Affordable Series. HAL PAWSON. Can Institutional Funding be Channelled into Rental Housing?
Channelling institutional finance into affordable rental housing has long been a ‘holy grail’ urban policy aspiration. Recent developments suggest that this may be edging towards reality.
Making Housing Affordable Series. SAUL ESLAKE. The causes and effects of the housing affordability crisis, and what can and should be done about it.
Treasurer Scott Morrison is right in saying that “there are no single or easy solutions” – even though he (and others on his side of politics) tend to ignore this advice in emphasising ‘supply-side solutions’ and decrying any suggestion of … Continue reading
Making Housing Affordable Series. PETER PHIBBS. The politics of property and the role of urban planning
The narrative provided by the property industry and by some politicians is that the planning system creates large bottlenecks to more supply. Yet the reality is that we have been generating record levels of supply in Australia in recent years. … Continue reading
Making Housing Affordable Series. NED CUTCHER. Running the private rental market at a loss, for profit
Understanding how unaffordable housing affects renters is increasingly important, since more Australians can expect to rent for longer. How do negative gearing and the capital gains tax discount affect affordability, amenity and security for renters? Encouraging “mums and dads” to … Continue reading
Making Housing Affordable Series. MARCUS SPILLER. The planning system, politics and housing affordability
Forever expanding supply on the urban fringe is unlikely to provide a solution to retreating affordability of home ownership. Housing needs to be expanded in those places where good jobs, services and infrastructure are. The inner and middle suburbs – … Continue reading
The housing affordability debate is being wrongly understood as just a supply problem. The real cause of house price inflation is excess liquidity and debt, combined with overly generous tax incentives.
With only a month to go to the federal budget, the news that Sydney’s median dwelling prices rose by 18.9% in the 12 months to March is sobering. It is surely enough to jolt the Turnbull government into finally adopting … Continue reading
The housing crisis, hitting young Australians in particular, is one of the cruelest consequences of economic rationalist policy making to which both our major political parties remain super-glued. Neither party has a clearly articulated, long-term solution to this ideologically generated … Continue reading
The trigger has been cocked. Our attitude to property has changed. No longer is it merely a castle, a family retreat and a place in which to find shelter. It’s now a highly geared investment vehicle. It will take enormous … Continue reading
BOB BIRRELL and DAVID McCLOSKEY. Sydney and Melbourne’s housing affordability crisis: no end in sight.
Our projections show that, on these demographic assumptions, new migrants will add about 64 per cent to the need for extra dwellings in Sydney over the decade 2012 to 2022 and 54 per cent in Melbourne.
Saul Eslake, one of Australia’s most highly respected independent economists, has sounded some sobering warnings about the impact of declining rates of home ownership (and rising levels of mortgage debt) on Australia’s retirement income system. He has also once again … Continue reading
Treasurer Scott Morrison wants to use the May budget to ease growing community anxiety about housing affordability. Lots of ideas are being thrown about: the test for the Treasurer is to sort the good from the bad. Reports that the … Continue reading