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Its time renters and all younger generations got to the real cause on housing affordability - speculation! Check the vacant land and housing in the Blue Stone ward of Footscray through the beauty of Panoramio & Google Earth.
What vacancies are in your neighborhood? How can we encourage this supply onto the market? A holding charge such as a Site Rental (in lieu of a reformed Land Tax) will ensure all land and housing is put to best use. At present the tax system subsidises such wastage, keeping young people stuck living with parents etc.
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ourturf's conversations
if this is the place i'm thinking it is, it has become..... a real estate agents!
we were going to keep a track of how long such properties were left vacant, as a pre-cursor to the property being 'flipped' by a speculator. there's only so much u can do tho!
just across the rd from the kitchen sink photo on buckingham st, a stones throw from the november auction we witnessed where some1 paid over $430,000 for a miners cottage with termites.....when next to it are 2 blocks of land worth 70% of that auction price each...just wasting away...forcing the price up of land, the most crucial resource.
Recently went to Auction - nobody bid, wanted $400K
we had hoped to maintain a record of 'for lease' signs, especially ones privately let like this, to see if some owners wanted to charge high rental prices and weren't perturbed about leaving it vacant until their asking price was met.
land supply control = safe investment.
now its a park of some sorts, convenient for the big new development at Banbury Village (former Pac Dunlop site)
mmm hard to see but this is a massive block worth millions, meanwhile first home owners have to drive in from the boondocks, billowing pollution into the air, arriving home late
land supply? such wasted usage abounds when u look into it
typically the domain of the poor/ artistic, now these homes are held dormant to manufacture capital gains. housing affordability anyone? huge backyard for subdivider