AUSTRALIA … we used to have 70% Home Ownership …
WHAT happened to this?
WHAT is needed is HOUSING for AUSTRALIANS … with affordable BUILD-TO-RENT that allows Tenants to BUY!
… Not Foreign Billions and Housing to be marketed to even more foreign buyers with Benefits!
AND what we have learnt from our Commentators …
‘That rent to buy was what the Department of Housing used to do!
Now it’s all about profits, forcing community housing groups to do the same. It’s become a vicious nightmare of CEO’s (many in charities) receiving exorbitant wages, and Rents based on 40% of household income!
This will continue to stifle home ownership. And coupled with elderly home owners having to sell their homes to finance their aged care and then you see the whole mess for our future generations (no inheritance) for those just above the poverty line.’
CAAN: And when was the damage inflicted? It was the late 1990s when the Howard Government … John Howard scapegoated refugees (who were in relatively small numbers) as his government opened the floodgates of the backdoor to migration (with Temporary Visa Holders).
‘John Howard’s Bait-and-Switch: Is it time for a debate on the mass immigration “Ponzi scheme”?’
Australia went from a sustainable Permanent Migration system of 70,000 people p.a., to escalate, and prior to the Pandemic there were 2.3 MILLION Visa holders in Australia; of which 1.6 MILLION were Visa workers willing to be exploited (with inferior wages and conditions) lured by the prospect of Permanent Residency.
Who could blame them?
However, this led to high unemployment and underemployment of Australians. Those ‘unAustralian’ employers put about hateful comments like: “Australians won’t work; don’t work”.
Obviously many employers (and companies) have enjoyed the benefits of greater profits from paying such low (below Award) wages; and enjoy TAX BENEFITS contrary to those who pay full tax!
Another very poor Liberal HOWARD Government policy was the introduction of the TAX BENEFITS of NEGATIVE GEARING AND CAPITAL GAINS making HOUSING a financial asset … something you buy and sell and accumulate.
THUS the financialisation of housing that was Shelter!
Our Families locked out not only by Low Wages, and increasingly now Super Inflated Housing Prices due to the competition from those negatively gearing!
INVESTORS are buying up more housing because bank interest rates are too low to leave their money in bank accounts! And the Housing Property Market opened up for them once again with the Chinese withdrawing from their Real Estate Tours. The Chinese are still house shopping here, but have been eclipsed by the Singaporeans (70% Chinese) who have spent $20Bn in the two years to mid 2020!
‘What is happening with those bags full of Cash?’
Businesses in Byron Bay and other coastal towns too have felt the impact of the loss of affordable rental accommodation because they are losing their workers! The fabric of the community is falling apart!
This is due to landlords letting their properties out to short term rentals on AirBnb, and Stayz rather than leasing homes to families and singles for 6 months or more at a lower monthly rate!
‘Banning AirBnb and Shipping in Portable Homes considered as Housing Crisis bites in Coastal Towns’
AND what has been happening as we so eagerly wait for the 11.00 a.m. presser about the failure of our governments to act early to stop the spread of Covid?
UNDER THE COVER OF COVID …
The developer sector has been beavering away marketing ‘Build-to-Rent’! It has called on the Big Boys from New York!
So another investment avenue for our local Ingestors too!
‘More Foreign Billions pouring into Build-to-Rent (BTR) … ‘
‘Countdown Begins for Build-to-Rent’s Breakthrough Year’
We hear often ‘We’re all in this together’… however it would seem this has another meaning … another Commentator reminded us that NSW INC raised more than $1 BILLION in Stamp Duty 2019!
See how this all ties in together!
What of the Housing Crisis Nightmare for Australians and First Home Buyers … next? As the floodgates open again to more Chinese, Singaporeans and Indian Middle Class Visa Holders ready to scoop up!
Is this too what is behind the Liberals saying: ‘Sell your Family Home … Downsize … Go Regional’… To open up more opportunities for redevelopment? For more development of high-rise … duplex … townhouses … terraces … villas and retirement villages? FFS!