NIMBY campaigns have helped drive up house prices and rents, a leading economist has argued, as younger Australians are shut out of the market by opposition to high-density developments.
While the property markets in NSW and Victoria have taken a $200 billion hit since the Reserve Bank started ratcheting up interest rates to counter high and rising inflation, prices remain above pre-pandemic levels.“It is a myth that all new first-home buyers want a quarter-acre block. Many would prefer a townhouse, semi-detached dwelling, or apartment in an inner or middle suburb, rather than a house on the city fringe,” he said.
Heading into the pandemic, this contributed to the lack of available housing with just over 400 homes per 1000 people, which Coates said was “among the least housing stock per adult in the developed world”. “First, the most obvious way the federal government can materially reduce housing demand is by reducing the capital gains tax discount and abolishing negative gearing,” he said.
Yes Australians, unaffordable housing is your fault! It is not the fault of AlboMP who just increased the net perm migration intake to 195,000 per year and is fast tracking 900,000 visas. It is not the fault of the GrattanInst who called for the increase and the fast tracking.
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NIMBYs make housing unaffordable: Grattan InstituteNIMBY campaigns have helped drive up house prices and rents, a leading economist has argued, as younger Australians are shut out of the market by opposition to high-density developments | rachelclun rachelclun Or maybe you could develop regional infrastructure to make living in the regions more lucrative? rachelclun Was this report written by a developer what total load of rubbish, as if young people only want to live in high density appartments. They certainly used a narrow research cohort. Where does this leave family’s with young children. What bullshit
Source: theage - 🏆 8. / 77 Read more »
NIMBYs make housing unaffordable: Grattan InstituteIn a speech on the housing crisis, leading economist Bernard Coates said: “The people who might live in new housing – were it to be built – don’t get a say.” rachelclun Not Australian and Chinese investors? rachelclun Thank God we finally have someone to blame who is not a politician or a $hitty developer who are responsible for building a generation (i.e. 25 years) of sub-habitable falling-down apartments. Mascot Towers is the tip of the iceberg. rachelclun I'm sure it was paid by developers. What about all the empty homes?
Source: smh - 🏆 6. / 80 Read more »
NIMBYs make housing unaffordable: Grattan InstituteNIMBY campaigns have helped drive up house prices and rents, a leading economist has argued, as younger Australians are shut out of the market by opposition to high-density developments | rachelclun rachelclun Or maybe you could develop regional infrastructure to make living in the regions more lucrative? rachelclun Was this report written by a developer what total load of rubbish, as if young people only want to live in high density appartments. They certainly used a narrow research cohort. Where does this leave family’s with young children. What bullshit
Source: theage - 🏆 8. / 77 Read more »
NIMBYs make housing unaffordable: Grattan InstituteIn a speech on the housing crisis, leading economist Bernard Coates said: “The people who might live in new housing – were it to be built – don’t get a say.” rachelclun Not Australian and Chinese investors? rachelclun Thank God we finally have someone to blame who is not a politician or a $hitty developer who are responsible for building a generation (i.e. 25 years) of sub-habitable falling-down apartments. Mascot Towers is the tip of the iceberg. rachelclun I'm sure it was paid by developers. What about all the empty homes?
Source: smh - 🏆 6. / 80 Read more »