Housing affordability

[SirRumpole]

The RBA issued a research paper on housing and the rentl crisis.
In what will come as no great surprise to many, it concludes that excessive popu;ation growth is behind it.
from Macro business
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In my humble opinion, the housing crisis is the way it is because the market is dominated by people who want to make the most money they can.

Investors, developers , real estate agents, banks, building companies et al all want the maximum profits and the consumer (home buyers and renters) are the ones who pay the price.

So the only way to moderate the situation is with the entry into the market of people who care less about making money, and more about solving problems and that basically means government whether local , state or federal.

Bring back the Housing Commissions of old to provide entry level accommodation to set people up while they increase their education and experience and move on to better jobs and better pay and can afford more up market housing.

 

[wayneL]

Overheads always a killer.
Housing having to support Banks via mortgage interest rates, local Government in the form of rates , State Governments in the form of stamp duty on sales, and of course the huge number of real estate agents that need to be kept.
Mick

View attachment 186151

Wow that RE agents per 1000 dwellings figure is illuminating.

I wonder what the comparative turnover of properties is?

 

[Smurf1976]

Bring back the Housing Commissions of old to provide entry level accommodation

Also a good opportunity for trades training.

 

[mullokintyre]

In 1990, we were approaching the era of 17% house mortgage rates.
Mick

now compare the above with this one.
This is the percentage of averge earnings that went into paying the mortgages of 1990 versus today.
Not a lot of difference here folks, except of course the tax rates on the average full time time earnings are tad higher.
Mick

 

[mullokintyre]

Jim Chalmers has leaned on the banks to relax some rules on mortgage qualifications.
The bloke is supposed to be pretty smart, so I guess its pretty smart politics.
Whether tis all that smart economically is a moot point.
Why not go further and tell the banks to ignore credit card debt, personal lines of credit, or novated leases on cars.
Not sure if the banks will actually follow up on it, probably does not worry Jim.
its all about the optics.
If indeed it does work, it will put more people into the already long queue for the stock os houses and push prices up further.
It will not help increase the supply side one iota.
Mick


From Evil Murdoch Press

 

[SirRumpole]

Jim Chalmers has leaned on the banks to relax some rules on mortgage qualifications.
The bloke is supposed to be pretty smart, so I guess its pretty smart politics.
Whether tis all that smart economically is a moot point.
Why not go further and tell the banks to ignore credit card debt, personal lines of credit, or novated leases on cars.
Not sure if the banks will actually follow up on it, probably does not worry Jim.
its all about the optics.
If indeed it does work, it will put more people into the already long queue for the stock os houses and push prices up further.
It will not help increase the supply side one iota.
Mick


From Evil Murdoch Press
View attachment 193079

Labor still refuses to acknowledge that it's negative gearing and CGT deductions that are pricing first home buyers out of the market in favour of investors.


Until they come to their senses about that, the situation won't change.

 

[investor13]

Jim Chalmers has leaned on the banks to relax some rules on mortgage qualifications.
The bloke is supposed to be pretty smart, so I guess its pretty smart politics.
Whether tis all that smart economically is a moot point.
Why not go further and tell the banks to ignore credit card debt, personal lines of credit, or novated leases on cars.
Not sure if the banks will actually follow up on it, probably does not worry Jim.
its all about the optics.
If indeed it does work, it will put more people into the already long queue for the stock os houses and push prices up further.
It will not help increase the supply side one iota.
Mick


From Evil Murdoch Press
View attachment 193079

a house can only be built as fast as councils approve the DA and the tradesman can build it. the price of the property is sold as or rented out at what the market demand is. the hocas poscas labour plan hasnt produced **** yet only continue to have borders opened and no increase in the building supply

you simply cannot make this **** up that labour continue to dribble out and people still believe they could care for a change like they havent done already for the past few yearls of the Albo circus
the ALP build to rent properties by forign investment companies who recieve discounts on taxes LOL




This article is more than 10 months old

Migration rose by one-third last year to lift Australia’s population by a record 659,000​

This article is more than 10 months old
The net annual rise was revealed as Labor signalled moves to reduce migration arrivals

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Luca Ittimani and Paul Karp
Thu 21 Mar 2024 17.36 AEDT


Australia welcomed more than 2,000 migrants a day in the year to September, helping to swell the country’s population by a record 659,800, reigniting political debate about measures to reduce arrivals.
Migration arrivals rose by a third compared with the previous year to hit 765,900, driven by international students and workers on temporary visas, while departures slipped to 217,100.

Migration rose by one-third last year to lift Australia’s population by a record 659,000

The net annual rise was revealed as Labor signalled moves to reduce migration arrivals

www.theguardian.com

Overseas Migration, 2023-24 financial year

Statistics on Australia's international migration, by state and territory, country of birth, visa, age and sex.

www.abs.gov.au