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Our problem is that state governments have never reached their population growth based land release targets. And zoning laws are fairly ridiculous. One study f
by protocolture 2y ago
Our problem is that state governments have never reached their population growth based land release targets. And zoning laws are fairly ridiculous.
One study found that something like 70% of the cost of owning a home in Sydney comes from zoning and land release issues. That is, a bit of reform in zoning laws and a heap of land being released could see a 1 million dollar home being available for 300k.
That said, so much of australias economy is based on the false premise that housing is a stable long term investment. If you dropped housing on its face you would probably bankrupt the country for a generation. That said, better now than later.
- bombcar 2y agoThat’s just supply and demand in another way, you could also argue the number of houses is fine you just need fewer people. In either case you’re saying “make the number of houses correct for the number of inhabitants” - of course an obvious answer is “build more houses” but that can’t always work - San Francisco can’t remain SF at the density of Singapore. It’d still exist, but it wouldn’t be what it was.
- protocolture 2y agoYou have a system designed around 2% growth. You dont release enough housing to support 2% growth. (You also have zoning restrictions pushing the majority of housing prices) It doesnt matter where they get the growth from, it could be baby bonuses, immigration, kidnapping migrant workers. >San Francisco can’t remain SF at the density of Singapore. It’d still exist, but it wouldn’t be what it was. I couldnt give 2 shits about some appeal to locale identity.
- fragmede 2y agoIt's already "not what it was" before Covid and that was just under five years ago. > No man ever steps in the same river twice, for it's not the same river and he's not the same man. -Heraclitus