Speculative vacancies

The fragrant vagrant is not a rose by another name

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Melbourne City Council is wringing its hands again over developer land vagrancy – prime sites deliberately held vacant or with disused, dangerous buildings to assist developer lobbying of government for rezoning or advantageous building permits. The issue last hit the news when a wall collapsed at the old CUB site in Swanston Street in 2013 […]

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Vacancy a Sign of Systemic Failure

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Prosper President Catherine Cashmore is quoted in The Age with Land Bankers raise ire of the well-heeled. “Morally it’s not a good thing to do,” she said. “But let’s not blame the investors.” She pointed the finger at government policy: “The nation has been breastfed on the notion that the way to fund their retirement […]

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Pitfalls loom for vacancy taxes

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Governments make token moves in the right direction The Federal government announcement of a vacancy tax on foreign investors could be construed as pure populism. Foreign investors constitute some 11% of all residential property purchases. Barely 3% of those purchasers are the much vaunted Chinese investor. Domestic investors are up to four times more significant. […]

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Prosper SBS News

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Prosper Australia President Catherine Cashmore had a busy week. First, Catherine was interviewed by Raph Epstein for ABC FM Drivetime. Then Catherine was asked to appear on SBS News Saturday night in Vacant Homes in Sydney draws Attention of UN. Channel 9 news also referenced this report. Earlier in the week, our Speculative Vacancies Report […]

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Exposed: Scomo’s ‘fix’ on housing costs a sop to Libs’ Big Developer donors

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by Warwick Smith Warwick Smith smells a rat in Scomo’s sudden solution to housing affordability – planning reform – coming just ten days after developers’ call for same. SCOTT MORRISON has suddenly announced that he cares about housing affordability. This is interesting given his strident opposition to getting rid of negative gearing and the concessional […]

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Foreign investor tax slug spreads

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Catherine Cashmore appeared on Channel 9 news last night to discuss the fact we are building the wrong type of stock to meet our growing community. The report compared the 80,000 apartments due to come onto the market over the next few years with the 80,000 vacant properties we identified in the Speculative Vacancies report. […]

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4 Corners hard-boils ‘Home Truths’ from our land bubble

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Australia’s premier TV current affairs program 4 Corners has a reputation for game-changing. Thoughtful analysis and a giant audience will do that. When it thunders, the time has arrived for a full reset. Last night’s episode ‘Home Truths’ lanced The Great Australian Land Bubble, assisted by some of our favorite people. Prof Steve Keen, from […]

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Launch reform

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The move towards Land Tax reform continues with two supportive papers out in the last few days. Launch Housing has a proposal to fund domestic violence programs out of a vacant housing tax. This was inspired by recommendations from the Royal Commission into Domestic Violence. They build a case for this urgent need by referencing: […]

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Homeless Protest Tax Incentives for Hoarding

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Today we featured in the Guardian article by Van Badham: Meet the homeless protesters who are taking on tax breaks for the rich. It has people talking – 236 shares and 208 comments in just a few hours. Badham writes: Word of this betrayal travelled through Melbourne’s homeless community, which now numbers an estimated 25,000 […]

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Friendly Jordies versus Property Speculators

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Referencing our eighth Speculative Vacancies Report, Friendly Jordies breaks it down for the everyday person. When are politicians going to get more proactive on the incredible advantages property speculators enjoy? Resources: Zine – Shareholders of Planet Earth Roots Revolution (1985) Watch one of the top 100 films to change the world, Real Estate 4 Ransom […]

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