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Don't stop there. Extremely low rental vacancies are a result of? State governments, local governments, and property development, basically colluding to not b

Don't stop there. Extremely low rental vacancies are a result of? State governments, local governments, and property development, basically colluding to not build cheap and affordable high density housing.

chii 4y ago
> State governments, local governments, and property development, basically colluding to not build cheap and affordable high density housing. australian taxation is already one of the highest in the world. In order for the gov't to build affordable housing (high density or not), it would take even more tax revenue to pull off. I for one, will not want to pay more taxes. The free market works for food, so why not have it work for shelter? The key sticking point is zoning issues, and approvals. These decisions are made at the local (council) level, and the existing residents overwhelmingly dislike a high rise going up next to their house/backyard. The other issue is that a large portion of real estate buyers want land ownership - ala a house. The thought of living in an apartment is at best a stopgap for them. Therefore, the capital appreciation of an apartment is meager at best. This also causes chronic underinvestment in apartments (esp. quality ones), and exacerbates cheap, low quality shitboxes that people dont like much (and reinforces the idea that they don't want to live in an apartment in the long term).
- theteapot 4y ago
  > australian taxation is already one of the highest in the world. Where did you pull that from?
  - chii 4y ago
    https://wisevoter.com/country-rankings/highest-taxed-countries/ https://wisevoter.com/country-rankings/highest-taxed-countri... Specifically i'm gonna call out income tax in australia : Income Tax Rate 45% Ranked in the World #17 > ... This means that Australians are paying a larger share of their wages in taxes compared with other countries.
    - BigJono 4y ago
      That site literally gives the overall tax rate as 28.68%, 42nd in the world. The US is 53rd, and the UK is 29th. The single figure of 45% is the highest tax bracket, which only starts at $180,000/year. Australia has a higher minimum wage than most countries, so a large proportion of the population are in minimum wage jobs. People on minimum wage here make ~$40k/year and pay around 14% tax. Not that any of that really matters if you're talking about government spending, since the overall tax rate is what determines government income, not what any individual person is paying.
    - theteapot 4y ago
      Nice try. 1. Income tax is just kind of tax. 2. 45% is the highest tax tier in a 5 tier system, paid on every dollar over $180K. 3. The same site you got "#17" from says Australia is ranked #42 the World for an overall "tax burden" statistic ...

chii 4y ago

> State governments, local governments, and property development, basically colluding to not build cheap and affordable high density housing. australian taxation is already one of the highest in the world. In order for the gov't to build affordable housing (high density or not), it would take even more tax revenue to pull off. I for one, will not want to pay more taxes. The free market works for food, so why not have it work for shelter? The key sticking point is zoning issues, and approvals. These decisions are made at the local (council) level, and the existing residents overwhelmingly dislike a high rise going up next to their house/backyard. The other issue is that a large portion of real estate buyers want land ownership - ala a house. The thought of living in an apartment is at best a stopgap for them. Therefore, the capital appreciation of an apartment is meager at best. This also causes chronic underinvestment in apartments (esp. quality ones), and exacerbates cheap, low quality shitboxes that people dont like much (and reinforces the idea that they don't want to live in an apartment in the long term).

theteapot 4y ago
> australian taxation is already one of the highest in the world. Where did you pull that from?
- chii 4y ago
  https://wisevoter.com/country-rankings/highest-taxed-countries/ https://wisevoter.com/country-rankings/highest-taxed-countri... Specifically i'm gonna call out income tax in australia : Income Tax Rate 45% Ranked in the World #17 > ... This means that Australians are paying a larger share of their wages in taxes compared with other countries.
  - BigJono 4y ago
    That site literally gives the overall tax rate as 28.68%, 42nd in the world. The US is 53rd, and the UK is 29th. The single figure of 45% is the highest tax bracket, which only starts at $180,000/year. Australia has a higher minimum wage than most countries, so a large proportion of the population are in minimum wage jobs. People on minimum wage here make ~$40k/year and pay around 14% tax. Not that any of that really matters if you're talking about government spending, since the overall tax rate is what determines government income, not what any individual person is paying.
  - theteapot 4y ago
    Nice try. 1. Income tax is just kind of tax. 2. 45% is the highest tax tier in a 5 tier system, paid on every dollar over $180K. 3. The same site you got "#17" from says Australia is ranked #42 the World for an overall "tax burden" statistic ...