Wednesday, April 24, 2024

Tag: Housing Crisis

Australia’s Housing Crisis Has Become A Fierce Political Battle

Australia’s housing crisis has become a fierce political battle that could have major implications for the next federal election

A fierce battle over housing is set to intensify and define the next federal election as Labor, the Coalition and the Greens target a growing cohort of voters who believe they’ve been locked out of home ownership for life.

The great Australian dream of owning your own home has been fading for a long time — there’s nothing new about this. But the crisis is now baked in — and it has arguably become the big generational disrupter, changing votes and threatening to hurt the government at the next poll.

Read the original article at abc.com.au

We Need A Different Conversation About Australia’s Housing Supply

Talk of increasing the supply of housing to increase housing and rental affordability is only pedalling private financial interest and obfuscating the real problem.

During a recent appearance on the ABC’s Insiders program, the Australian Greens’ housing spokesperson, Max Chandler-Mather, cited the figure of more than 1 million vacant homes to argue the Greens’ case for curbing negative gearing and tax concessions for property investors.

Since then, media pundits have picked through the latest (2021) Census numbers in an effort to discredit his argument, all the while letting the “more supply” argument proliferate unchecked. And while the Member for Griffith may be overstating the numbers, he is not wrong in asserting that “we have enough homes for people to live in.”

Read the original article at architectureau.com

Australian Housing Crisis: Full-Time Workers Forced Into Homelessness

In a stark expression of the mounting social crisis confronting the Australian working class, a growing number of people in paid employment are becoming homeless. Workers are increasingly being forced to sleep in their cars, camp in local parks, or couch surf, as a result of the widening chasm between wages and rent prices, and the profound shortage of public and social housing.

Charity organisation Mission Australia reports that four in ten people who sought assistance from a major homelessness charity in the past three years were employed but unable to meet the soaring cost of rent and other basic essentials.

Read the original article at wsws.org

Shock Sum Parents Need To Give Their Kids To Buy First Home

Australian parents will have to shell out increasingly large sums of money to help their children buy homes or risk them never making it onto the property ladder.

In decades past, buying a home was a relatively solitary thing, a goal set and achieved either as a single person or as part of a couple, but now buying a home has increasingly become an affair involving parents and other relatives.

According to investment and advisory group Jarden Australia, 15 per cent of borrowers are receiving an average of $92,000 from parents.

27 Million Milestone Stirs ‘Population Panic’

There are now 27 million Australians, thanks to the fastest population growth in the country’s recent history.

The Australian Bureau of Statistics’ population clock hit the milestone on January 24 about 3.30pm.

Australia’s population rose by 624,100 people in the 12 months to June 2023 – a 2.3% increase.

This is faster than the 10-year average of 1.4%.

ANU demographer Liz Allen said some segments of the media are exploiting population growth to sow panic about migration.

“Despite all the population panic going on at the moment, demographers have been well aware of this milestone,” she said.

The Future Of Housing In Australia Is Apartments. Lots And Lots Of Apartments

Australia’s big cities have lots of apartments and are getting even more.

Sydney is now just 56% separate homes, according to the most recent data. That is down from 63% in 2001. Most other big capitals are on the same trajectory, as the next chart shows.

Meanwhile, the latest building approvals data shows we plan to build more apartments still.

In Sydney and the ACT a majority of approvals are for dwellings other than separate homes, suggesting that before long Sydney will have separate homes as a minority. Canberra is further from that eventuality but rushing there quickly.

Read the original article at www.criket.com.au

Don’t Scapegoat Migrants For Housing Crisis, Warn Housing Organisations

Forty housing and homelessness organisations have warned Australian leaders not to blame overseas migrants for government problems.

Major community services groups across Australia have signed a petition to the Prime Minister and Opposition Leader conveying their concern that new migrants are being inaccurately painted as the driving cause of the housing affordability crisis.

A total of 40 organisations, including National Shelter, the Community Housing Industry Association (CHIA) and the Federation of Ethnic Communities Councils of Australia (FECCA), wrote the letter in response to “disturbing rhetoric” linking the housing crisis to migration levels.

Maiy Azize, spokesperson for Everybody’s Home and coordinator of the letter, said that it is “nonsense to blame overseas migration as a primary driver of a housing crisis that has been decades in the making”.

The ‘Great Australian Dream’ Shattered: Unprecedented Housing Crisis Hits Australia

In what is being described as an unprecedented housing crisis, Australia is witnessing the disintegration of the ‘Great Australian Dream’ of home ownership. The crisis, underscored by skyrocketing property prices and inaccessible home loans, is reshaping the nation’s identity and causing distress, particularly among younger generations such as Gen Z and millennials. Housing, once perceived as a right, is increasingly being treated as an investment, leaving many without a glimpse of financial independence or housing security.

Retirement Villages: The Housing ‘Secret Weapon’ Hiding In Plain Sight

Australia is ageing, and this presents challenges around housing, care and affordability. This is more important than ever, given there are currently 2 million people over the age of 75 around the country, but by 2040, this cohort will increase to 3.4 million.

This means there will be an additional 1.4 million people over 75 within the next two decades looking for accommodation that prioritises care and support.

We know that housing supply is challenging today and so is the pressure on residential aged care – a sector that is often confused with retirement living. But our changing demographic outlook around Australia will make things even harder.

Importantly, through the Retirement Living Council’s (RLC) Better Housing for Better Health report, we now know that retirement villages across the country save the Commonwealth Government a billion dollars every year by delaying entry into taxpayer-funded aged care facilities.

Australian Housing Wealth Is Meaningless, Destructive And Fundamentally Changing Our Society

High-priced homes do not create wealth, Alan Kohler says, they redistribute it. Now financial success is largely a function of geography, not accomplishment

My parents were married in 1951 and, with a war service loan, bought a block of land in South Oakleigh, eight miles from Melbourne’s central business district.

I don’t know what my dad was making then, but he was a carpenter and apparently the average wage of a carpenter in 1951 was about 80 shillings a week, or £350 a year. And judging by average prices back then, they would have paid about £1,000 for the land. (By the way, the median house price had more than doubled in 1950, recovering from the big fall caused by price controls during the second world war, on which more later.)

Dad built the house himself, including making the bricks, working on weekends and at night, and Mum and Dad lived in a garage, to which I was brought home when I was born and where I spent the first three years of my life. But if they had bought a house and land package, which was rather more common than building it yourself, they would have paid about £1,250. So, like the median family at the time, they would have paid about 3.5 times household income (Mum didn’t work) for their first house, which was about average for the time.

Read the original article at www.theguardian.com