Labor’s 'Rent to Buy' Plan Will Increase Housing Prices (Malcolm Roberts)

The Help to Buy Bill 2023, introduced by the Albanese Labor government, will make Australia's housing crisis worse. The bill proposes to allow the government to own a significant portion of the house - 30% for existing homes and 40% for new ones. Providing buyers with an additional 40% purchasing power will only drive up house prices further, as highlighted by the Productivity Commission's warnings about increasing demand leading to higher prices.

The bill is also criticised for being poorly targeted and not addressing the fundamental issue of housing supply and demand. The limited number of spots available under this scheme suggests the government know it will introduce inflation. Key questions about how profits, losses, and renovations will be treated are unclear. Participants in this scheme could be far worse off.

One Nation proposes a way for all Australians to be able to afford a house. We focus on addressing both supply and demand issues. These include throttling the amount of immigrants in the country from their record highs to pre-COVID numbers (for a start), banning foreign ownership of Australian residential properties, allowing Australians to leverage their superannuation funds towards owning homes, establishing fixed 5% mortgages, cutting GST on building materials and gutting the bloated building codes.

Under the government's "Help to Buy" bill, you'll become a slave in your own home. Under One Nation's plan, the Australian dream of owning your own home will become a reality.



Good speech addressing the issue of housing demand and lack of supply and offering good solutions. The major parties are presently ignoring the causes of the problem and throwing ordinary people under the bus. You don't have to agree with all the solutions being proposed, but one would think that a fair chunk of them are necessary such as limiting immigration and putting blocks of foreign ownership (which is what other countries do).

The big question is why are the major parties engaged in policies that jack up house prices? Part of the answer is that many of them are rich property owners with big salaries, and they are protecting their own interests over the well-being of ordinary people.

[Posted at the SpookyWeather2 blog, November 27, 2024.]