Comment on Governments keep making our housing crisis worse – and they’ve just done it again
Mitchie151@lemmy.world 2 weeks ago
Beyond the obvious CGT and negative gearing loop hole, we really need to look at zoning. Developers continue to buy up land in the furthest suburbs and subdividing it into low density residential (with government approval). Our zoning regulations are completely bizarre and we need to start ending the dichotomy of big land far away vs apartment closer in, so that we can have cheap apartments further out. It’s wild to be that they aren’t massively developing the regions at the end of metro lines to encourage outbound commutes and building high density residential in these areas as well.
Zagorath@aussie.zone 2 weeks ago
The entirety of every city should be, at a minimum, low-medium density, permitting 2–3 storey row houses, townhouses, and apartments, without restricting people’s ability to do low density if they want. And then everywhere within 500 metres of a train or BRT station should be zoned properly for 4–6 storeys at least.
But market forces cannot do the job alone. They don’t have the incentive to. It’s far more profitable to slowly release more properties on the market to keep prices high. So we need significant government involvement too. Fully 30% of the market should be owned by the government, with more under some form of government-mandated “affordable housing” category.
Plus strong tenant’s rights, treating their home as their home first and foremost, more important than someone else’s investment. That works with the tax incentive changes you mentioned to ease demand and reduce property prices, by making investment in housing look less appealing.