affordability

HomesVic: An equity share of a broken housing market

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Like most 30 somethings with a substantial HECS debt and an addiction to avocado on toast, I am an aspiring first home buyer. I’d love to buy the home I currently rent: a daggy 1960’s ‘six-pack’ flat on a main road in Footscray. It’s currently valued around $360,000. To put down a 20% deposit, I’d […]

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Victoria to tax vacant properties into use

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Premier Daniel Andrews announced a range of housing affordability measures Sunday, some of which will help. The eye-opener is the introduction of a Vacant Residential Property Tax at one per cent of the capital improved value on properties held vacant for six months or more. This mimics Vancouver’s Vacancy Tax introduced last November – also […]

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Housing affordability and the changing debt burden of a typical mortgage

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by Philip Soos reposted from The Guardian Australia’s historically high and rising housing prices are widely debated and have prompted a number of government inquiries into housing affordability. The question stands open: is housing affordable in Australia? Affordability is often confused with related concepts such as ease of entry, serviceability and valuation. Ease of entry […]

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Reform Negative Gearing Now!

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Are you locked out of the housing market? Do you want to see an end to market distorting subsidies to property investors? Sign the petition! This petition calls for the Federal Government to reform negative gearing NOW! Negative Gearing must be limited to new housing only and in time should be removed entirely. It is time […]

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Victoria to cap the single best tax base available

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The Andrews government is capping local governments rate rises to CPI after fifteen years of six per cent rises in a low inflation environment. Minister for Local Government Natalie Hutchins’ Fair Go Rates System, administered by the Essential Services Commission, will crack the whip over naughty spendthrift councils. The ESC has released its draft report […]

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Free the people – use good taxes

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The Housing Industry Association’s Harley Dale and the Urban Development Institute’s Michael Corcoran have called for the repeal of Stamp Duty in favor of a broad-based land tax, News Corp reports today. Both lobby groups fear an extension of the GST to building products, which would be passed on in higher new house prices and […]

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Budget deadweight, Prosper happenings

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Join our fortnightly enews on all things evolving economics. Read past editions.  Share with your friends! Having trouble reading this newsletter? View it online. The enews of Prosper & Earthsharing Australia MAY 2015 Gratis Tech Crash 101 Our deepest apologies for Wednesday’s technology fluff up. Some people received 1, 3 or 5 ‘placeholder’ emails. Whoops! We have […]

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Swing that Cat!

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New Sydney flats will have to be bigger, the NSW Land and Environment Court ruled last week, overturning long accepted common practice allowing minimum one-bedroom unit sizes at 50m2. Dual-aspect flats must be a minimum 58m2 and more common single-aspect flats 73.4m2. Property observers have been watching the steady shrinking of high rise flats with […]

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Boomer Welfare Enjoys Foreign Investment Fillip!

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Having trouble reading this newsletter? View it online. The enews of Prosper & Earthsharing Australia February 2014 Hernan Pinera   The Climate Fund Under Our Feet – this Thursday! Thursday February 26th, 6.30pm Level 2, 22 Punch Lane, Melbourne Presenter: Karl Fitzgerald RSVP As resource scarcity is compounded by rising housing debts and a democratic system […]

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Nathan’s Story

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My partner and I are 28. We went to an open for inspection of a house we liked and thought we could afford. We turned up just before he closed. There was an older couple there in their 50-60’s. The price was ‘from $600k+’ on the sign in sheet we left with him.  On it […]

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