Singapore is an island city-state with about 300,000 more residents than greater Sydney, but far less than 10 per cent of its land area.
The HDB is so dominant in Singapore that it built eight out of 10 dwellings in the city during the past half century, and so effective, that Murray wants to replicate it here, in a scaled-down form. Murray proposes the scheme would be open to Australian citizens aged over 24 for couples and 28 for singles where no household member currently owns property.
In addition to a lower purchase price, Murray suggests that HouseMate would also provide the finance, with government loans priced at the cash rate plus 1 per cent.
As long as we have a Morrison government in power, Australia will never learn from Singapore or any other country for that matter. Morrison is far too arrogant to listen, as he has shown us time and time again.
Minus the racial quota elements
As a owner of an HDB in Singapore and an Australian resident I'd agree 100%
I'm just happy to soon die in the gutter at this point
Too many politicians have multiple properties negatively geared.... conflict of interest? 🤔
Could but wouldn’t and won’t 🤷♂️
Want to make housing more affordable... force the RBA to take into account the cost of housing when they calculate inflation. They'd have to raise interest rates which would keep house prices in check.
Of course the Australian Gov't could learn but they're heads are too entrenched up certain anal canals.
Australia could learn from almost everybody to make housing more affordable.
So have a massive population of migrant workers that you shunt into overcrowded dormitories and send home as soon as you can?
Not going to happen. We need smaller houses, not the huge 5 bed ones they are building for this generation, I live in a modest 3 bed house with a small garden & could sell my house 10 times over, young couples see it as a 'first home' & more affordable.
What? Singapore? Where a Toyota sedan cost over 100k?
Excellent idea. Also NB focus on rental affordability as this is a huge issue. I know professionals who can’t find an affordable/available rental…let alone low income/benefit recipients. Fewer giant MPEs in places with no PT/jobs (i.e Sunshine Coast, QLD) & more medium density
Fair enough. Good to see ideas being put out there. Something needs to be done..and fast.
Nothing will ever get achieved on many fronts til the boomers have washed out of the system. The selfish roadblock generation
Here’s an alternative HouseMate proposal: -Abolish negative gearing -remove the CGT discount -raise the assessment rate on new investor mortgages to say 10% One benefit of this version is you also get to keep your super so you can have a good retirement.
Apparently. Australia doesn't learn anything under the Liberals/Nationals.
It's a fairly smart idea. Notwithstanding we need to replace our 1400c tax system. But when it's cheaper to buy an investment property compared to your own home, this makes sense. The question is how would they leverage their equity?
We could but we won't to many vested interests skim of the good old tax payer