Australia's real estate industry is the go-to sector for money laundering and more professionals should be compelled to report dodgy transactions, an anti-corruption group says.
The federal government thinks it might be. Real Estate Institute of Australia denies it.
Pension changes driving some boomers to nest egg in property which drove up prices
Active destruction of public housing pushing more and more people into private housing which drove up prices
Tax incentives encouraging property speculation which drove up prices
Allowance of foreign purchase which encouraged landbanking and laundering and pushed up prices
New builds failing to keep pace with increase in population limiting availability and pushing up prices
Volume builders land squatting and releasing less than required to maintain artificial scarcity and push up prices
Failure to decentralise employment hubs coupled with failure to increase density pushing more people into the same area, causing scarcity and driving up prices
Add one more. Ridiculous building standards pushing building cost over the roof. Even if land is free, new house is way to expensive for many to afford.
It’s not the only reason. There is no one reason.
Off the top of my head:
Nailed it
Is there a bestof lemmy community? Because this comment wins 🏆
Add one more. Ridiculous building standards pushing building cost over the roof. Even if land is free, new house is way to expensive for many to afford.
Our building standards are a fucking joke, man. No.
Maybe labour costing way too much nowadays, building suppliers making a killing on materials
So the people building homes should be paid less? What if they want to own a home themselves? That shits expensive!