@*kazumi* wrote:
New houses, in estates miles out of the city are not too expensive. The problem is that the jobs are not there. When people have to spent 3 plus hours a day traveling, that makes it not manageable, especially if they have small children. Not to mention the cost of travel, be it petrol or train fare.
Investors, who already have other properties, can buy another house with NO deposit, no money for fees, and even get bit extra on the housing loan. Believe me we did that. Bought an investment property with absolutely no cent from our pocket, plus $50 000 for renovation. That was 20 years ago.
Negative gearing does not mean subtracting your expenses from the rental income, it means subtracting the expenses from your total income, and therefore reducing or totally wiping off the tax you pay. That was useful when we needed more rental properties, now we do not. When the 10% of Australians who have investment properties plus overseas investors keep buying more and more, the prices of established homes in areas that are conveniently located near where the jobs are, become unaffordable.
I follow all of the points you are making, and some of it is spot on and makes common sense. The vital bit you are consistently missing or delibrately ignoring though is that by continually increasing our population every year WE ARE pushing people further and further away from their employment AND FORCING them into a 3 hour commute.
It is the government policy ( all colours ) of never ending, continual population growth ( through immigration ) to support ever increasing GDP and corporate profits that is to blame for people being forced miles out into suburban wastelands, with ever longer commutes and two partners working. This in turn forces very small children into expensive child care, fracturing family units at the critical early childhood stage. If population growth stopped tomorrow, suburban sprawl would stop tomorrow, regardless of whether it was investors or home buyers who owned the houses.
And as you rightly point out, Australians are voting with their feet and not increasing our population naturally, so it is the direct government policies of continual increases in population through migration that are causing all of these very serious social problems for people.( as you have identified in your post )
Dramatically reduce our immigration intake and a lot of the issues for existing residents would stabilise and not continue to get worse. The Current government knows this. That is why they have continually resisted providing any financial support to foreign visa workers, instead telling them to go home.l The Government understands this will free up employment opportunities for the Australian residents who have lost their jobs due to COVID 19.
nG!!nU~$(KGrHgoOKi8EjlLm(rUzBKcZn2z!7Q~~_7.JPG "*kazumi*"){kind=avatar}
3BrNBBRz4UYdo+!~~60_7.JPG "chameleon54"){kind=avatar}
