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Greens Promise To Build 1 Million Affordable Homes (Read 680 times)
whiteknight
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Greens Promise To Build 1 Million Affordable Homes
Oct 17th, 2021 at 6:04am
 
Greens promise huge cash splash to build 1 million affordable homes   Smiley
The Age.
October 17, 2021


The Greens will fight for 1 million publicly owned, affordable homes to be built over 20 years if they hold the balance of power after the next federal election.

The cost of the ambitious election policy – which the Parliamentary Budget Office warns is “uncertain and highly sensitive to the speed of construction” – is an estimated $7.5 billion over four years, and $22.9 billion over 10 years.

Greens leader Adam Bandt will unveil the party’s ambitious housing policy on Sunday.


The independent PBO also warns in its costings that the per-house cost of $300,000 may not be met because the scheme is so large in scope, while the impact it would have on Australia’s property market “is highly uncertain”.

Under the plan, a new federal Housing Trust would be established to construct and manage the new housing, in partnership with states, territories and community housing providers.

About 125,000 properties would be part of a shared equity ownership scheme, with people able to own between 50-75 per cent of the equity and access a low-interest loan to buy their first home.

When an owner wished to sell the property they would only be able to sell back to the Housing Trust and price growth would be capped at 7.5 per cent per year.

Another 750,000 new public and community housing dwellings would be built to reduce waiting lists and homelessness, while 125,000 so-called universal access rental homes would also be constructed.

Tenants in Trust homes would pay the lower of either 25 per cent of their income or market rent.

Greens leader Adam Bandt will launch the policy on Sunday. He said that with so many people locked out of the housing market “we urgently need the government to act and ensure everyone has somewhere secure to call home”.



“The housing market is broken and the government must step in. As well as slashing public housing waiting lists, the government should build good quality homes in good locations that people locked out of the market can afford to buy,” Mr Bandt said.

“In the balance of power, the Greens will kick the Liberals out and push the next government to tax the billionaires so we can build homes everyone can afford.”   

The Greens want to build 1 million new homes that Australians could buy or rent closer to the city.


Labor holds 68 seats in the lower house and the Greens have one seat, which means the two parties would have to pick up seven seats to have a parliamentary majority of 76 seats – a plausible scenario according to recent polls.

The Greens are eyeing inner suburban seats including Griffith in Brisbane and Kooyong in Melbourne at the next poll as potential gains.

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The party is billing the homes as being situated “where people want to live” – that is, closer to their workplaces and the inner city.

The Commonwealth would provide about two-thirds of the funding to build the dwellings while states would provide one-third, which could be in the form of handing over land.

The Victorian government last year announced a $5.3 billion package to build more than 12,000 homes within four years in the biggest single spend on social housing in the state’s history.

But in April a proposed social housing development in Melbourne’s north as part of the package exposed tensions between the state Labor government and the Greens-dominated Yarra Council, which knocked back a plan to build 100 new social and affordable housing units on council land.

The PBO notes in its costings of the Greens’ policy that it has “not undertaken any analysis on how and if state and territory governments would contribute to the scheme” and it is an open question whether state governments would be willing to contribute land in inner-city locations that they could otherwise sell for a considerable profit.

But in a sweetener for the states, the Greens’ plan also includes a capital grants fund that would hand state and territory governments $1.5 billion a year for three years and then $2.5 billion over the next seven years to make public housing improvements.

Though implementation of the policy would likely prove difficult, the Greens’ calculation is that having a plan to tackle the high cost of housing will be a vote winner with core constituencies, including young urban professionals struggling to buy into the booming property market.
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Grappler Truth Teller Feller
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Re: Greens Promise To Build 1 Million Affordable Homes
Reply #1 - Oct 17th, 2021 at 10:53am
 
Didn't somebody offer a million new jobs coming up to an election?  Who was that now?

The pond is so murky these days that I forget if it was Shorten or some Lib flunkey talking through his hat that time ......

No impact on the property market but will lead to the development of yet more ghettoes.. where they gonna put 'em and who is going to live in 'em?  Sydney basin is full to the brim and about to drown in its own excrement, is surrounded by hills and vast national forests etc..

A million houses - that means they are planning to bring in more hordes of incompatible people to suit the International Brotherhood Of Man the Far Left claim to love so much - so much that they hate We Of The West... brings down The Patriarchy™, though, since under modern rules, they'll fill all the jobs with sheilas.... need to or they'll cop flak in the media and be called out as total arseholes while your sons struggle and go into drug dealing and bank robbery to survive and might one day a week see their own children under close supervision- if they are not in prison or in the coming gulags for Re-education™
(as opposed to the mini re-education gulags the houses of learning have become)....


Funny how that dove-tails.  You people are blind to what is happening to you as you are being slowly boiled in the pot... every Woke™ thing that 'fixes a problem' is bringing others into poverty and inducing a massively class-ridden society along countless fault lines... product of a Fascist government that feels utterly entitled to dictate to you on anything and everything.

...
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« Last Edit: Oct 17th, 2021 at 11:04am by Grappler Truth Teller Feller »  

“Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence.”
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Valkie
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Re: Greens Promise To Build 1 Million Affordable Homes
Reply #2 - Oct 17th, 2021 at 2:32pm
 
Never happen.

Too many politicians and senior public servants have invested hugely in real estate.

Why do you think the dumps we call houses are so expensive?
They are deliberately kept artificially high by the players in order to maximise profitability in rent and the housing market.

Make them affordable, and their profits go bye bye.

Never gonna happen.
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I HAVE A DREAM
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A DREAM OF A WORLD THAT HAS NEVER KNOWN ISLAM
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SUCH A WONDERFUL DREAM
O HOW I WISH IT WERE TRU
 
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Bam
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Re: Greens Promise To Build 1 Million Affordable Homes
Reply #3 - Oct 17th, 2021 at 6:38pm
 
The Greens don't need to build so many homes.

Many homes in Australia are sitting vacant. These homes are being held for the capital gain but are not on the rental market. Airbnb is also taking houses off Australians.

The Greens should propose taxation policies to discourage this greed.
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You are not entitled to your opinion. You are only entitled to hold opinions that you can defend through sound, reasoned argument.
 
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Grappler Truth Teller Feller
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Re: Greens Promise To Build 1 Million Affordable Homes
Reply #4 - Oct 17th, 2021 at 9:45pm
 
Bam wrote on Oct 17th, 2021 at 6:38pm:
The Greens don't need to build so many homes.

Many homes in Australia are sitting vacant. These homes are being held for the capital gain but are not on the rental market. Airbnb is also taking houses off Australians.

The Greens should propose taxation policies to discourage this greed.



Good plan - why would they when they are knee deep in it like the rest?
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Re: Greens Promise To Build 1 Million Affordable Homes
Reply #5 - Oct 20th, 2021 at 4:25pm
 
.....the Greens....the millstone around the ALP"s neck  Cheesy Grin
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Vic
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Re: Greens Promise To Build 1 Million Affordable Homes
Reply #6 - Oct 20th, 2021 at 5:16pm
 
The problem with this is, of course, the money is not theirs to spend to build these houses.    We are so far out the back door with debt so, unless the Greens start chook raffles in pubs or sausage sizzles at Bunnings of a Saturday, it is yet another pipe dream.    They really have no right to make promises that they will never be able to keep. 
It just makes them look foolish, gullible and insincere.
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Baronvonrort
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Re: Greens Promise To Build 1 Million Affordable Homes
Reply #7 - Oct 20th, 2021 at 5:39pm
 
Bam wrote on Oct 17th, 2021 at 6:38pm:
The Greens don't need to build so many homes.

Many homes in Australia are sitting vacant. These homes are being held for the capital gain but are not on the rental market. Airbnb is also taking houses off Australians.

The Greens should propose taxation policies to discourage this greed.


The Greens couldn't build an outhouse many of them struggle with IKEA flatpacks.

We already have Land tax for investment properties which is levied regardless of occupation.
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Re: Greens Promise To Build 1 Million Affordable Homes
Reply #8 - Oct 21st, 2021 at 12:14am
 
Vic wrote on Oct 20th, 2021 at 5:16pm:
The problem with this is, of course, the money is not theirs to spend to build these houses.    We are so far out the back door with debt so, unless the Greens start chook raffles in pubs or sausage sizzles at Bunnings of a Saturday, it is yet another pipe dream.    They really have no right to make promises that they will never be able to keep. 
It just makes them look foolish, gullible and insincere.


They need no help to achieve that status.....
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“Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence.”
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Bam
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Re: Greens Promise To Build 1 Million Affordable Homes
Reply #9 - Oct 21st, 2021 at 9:33am
 
Baronvonrort wrote on Oct 20th, 2021 at 5:39pm:
Bam wrote on Oct 17th, 2021 at 6:38pm:
The Greens don't need to build so many homes.

Many homes in Australia are sitting vacant. These homes are being held for the capital gain but are not on the rental market. Airbnb is also taking houses off Australians.

The Greens should propose taxation policies to discourage this greed.


The Greens couldn't build an outhouse many of them struggle with IKEA flatpacks.

We already have Land tax for investment properties which is levied regardless of occupation.

Land taxes are state taxes. Their rate is so small in relation to the capital gains that they are scarcely felt at all.

Your attempt at sledging the Greens means you've run out of political arguments.
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You are not entitled to your opinion. You are only entitled to hold opinions that you can defend through sound, reasoned argument.
 
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Bam
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Re: Greens Promise To Build 1 Million Affordable Homes
Reply #10 - Oct 21st, 2021 at 9:43am
 
Vic wrote on Oct 20th, 2021 at 5:16pm:
The problem with this is, of course, the money is not theirs to spend to build these houses.    We are so far out the back door with debt so, unless the Greens start chook raffles in pubs or sausage sizzles at Bunnings of a Saturday, it is yet another pipe dream.    They really have no right to make promises that they will never be able to keep. 
It just makes them look foolish, gullible and insincere.

Indeed. A revenue source is needed to pay for this spending. If it costs $300,000 to build a home, one million homes would cost $300 billion. That's a huge amount of money. Where's that money coming from?

This is why I was suggesting ways of taxing greedy property investors who are directly causing the housing shortage by taking houses out of circulation while leaving the ones who put the homes on the long-term rental market alone.

Such targeted taxes would also show why a million homes are not needed. We can get away with building much less than that. An initial build of 50,000 homes would cost $15 billion - much more affordable, especially if it's funded by increasing the capital gains taxes on vacant properties.
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