Fixing the Housing Market

In order to truly repair the housing market, we must first see how it gets worse. Banks offer loans to those who can not repay the loan. To the best of my knowledge, this is the most disadvantageous situation in the real estate market. Whether the bank should be blamed. Absolutely not. People who accept these loans without considering the impact are causing this confusion. We should not borrow money so loosely, the banks should not be that easy. Regardless of causality, we are all in this situation and we have to find a solution to the problem.

On February 7, the Ministry of Community and Local Government announced the white paper "Restoration of Broken Housing Market". Such a white paper deals with a big problem, especially if the preamble of the prime admits as follows, the problem is attracting the interest of many people because the problem is not as big as the housing. One of them. In this document, we explain the size of the issue and various countermeasures necessary to cope with housing shortage. I am not going to do this because other people are writing this paper. I am particularly interested in the amount of data cited in this paper.

How do we deal with the fully malfunctioning housing market that caused the Australian generation to lose their safe home rights? I suggest some broader discussion first, and finally I talk about Perth, this is where my feelings are invested. Australia residential fundamental problem of is that land prices rose to consist of 30% of the price in the 1990s to 70% of the current real estate prices. As a result, it will be 7 to 12 times the median annual average income, three to four times as high as 25 years ago. In order to solve this problem and provide housing for the majority of Australian citizens, we need to make major changes to the housing market rules. We need the government's right to take action to provide the necessary housing at affordable prices without affecting our environmental efforts and living standards.