Housing Affordability

Here's a great article by Terry Ryder from Hotspotting.com on the topic of housing affordability.

Affordability issues will never be resolved while politicians and others persist with blaming scapegoats. The common practice of blaming a single culprit - popular choices are migrants, negatively-geared investors and foreign investors - allows politicians to avoid their own culpability and responsibility for finding solutions. The “debate” about affordability has been so dominated by extreme opinions that it’s less likely real solutions will be found. So, it’s refreshing to see the Victoria Government announce a series of measures to address affordability. The multi-pronged approach recognises this is a complex issue and simplistic solutions won’t work. It’s introducing a tax on investor properties left vacant, to force to owners to sell them or rent them out, thereby adding to the supply of homes. It’s also increasing housing supply through plans for 17 new suburbs with 100,000 home sites across Melbourne. It’s abolishing stamp duty for first-home buyers of properties up to $600,000; increasing grants for first-home buyers in regional Victoria (new homes only) from $10,000 to $20,000; and introducing the HomesVic plan, where the Government will co-purchase homes with first-home buyers.

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