Renters deserve better than this:
http://www.abc.net.au/radionational/programs/lifematters/housing-market-puts-fea...Europe has managed for generations with a high proportion of people being renters rather than home owners and they have managed pretty well.
But we seem to have a dog eat dog mentality in this country and I don't think it has changed much since I was young 50-60 years ago.
I don't know what you can do about the level of private rents. Look, if a landlord is sitting on say a $800,000 property he is going to expect at least a 5% return which is $769 a week . . .and that's gross before expenses. So, depending on his circumstances, that could be a net return of 2-3%.
But I've said this time & time before, part of social welfare policy in this country ought to be big investment in social housing, let to tenants who meet and abide to strict conditions and who can be evicted for violations without having to go to the High Court, if you get my drift.
Such a policy ticks all the boxes for infrastructure spend, reducing housing demand & therefore bubble, social cohesion etc.
How to fund it? Start by crossing off $100,000+ earners from the family benefits scheme, retirees with $400,000+ from the part pension and/or health care card scheme, child care benefit receivers who are high earners or baby-sitting users, and on & on. Limit negative gearing users to one property of modest value according to location.
Give the job to a business man who's not afraid to slash & burn.