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Public Housing is Everyone's Business

Public housing is not just the business of the 63,000 tenants who currently utilise public housing in Victoria. It is not just the business of the 43,000 Victorians on the public housing waiting list who will never access public housing. Public housing isn’t just the business of the homeless. It is everyone’s business.

It is everyone’s business for a number of very good reasons. A strong public housing sector is in direct competition with a private housing sector that has been transformed into an investment bonanza for about 10% of the population who use this country’s investment taxation laws to enrich themselves at the expense of Australians who are having trouble affording a roof over their heads.

It is the business of the 30% of Australians who rent properties privately, who will never be able to get together a deposit let alone enter the property market. A strong public housing sector puts downward pressure on private rents, especially at the lower end of the market. Competition between the private and public sector is the best way to ensure housing doesn’t become a private investment bonanza for a minority.

Public housing is the business of all those Australians who are trying to enter the property market. Increased public housing stocks will decrease prices at the lower end of the housing market. The laws of supply and demand would ensure the cost of houses at entry level would drop in prices as public housing stocks increase.

Public housing is the business of the 30% of Australians who are paying off a mortgage. A strong public housing sector would put downward pressure on housing interest rates as fewer home loans would be issued by the privately owned banks leading to increased competition between banks for customers.

Public housing is the business of the 30% of Australians who own their homes. The greater the number of public houses available, the less need for parents and grandparents to be concerned about their children renting or buying a home. Today many parents and grandparents are being forced to use money they had earmarked for their retirement to help children buy their first home.

Public housing is the business of the 10% of Australians who have enough disposable income to buy investment properties. Privatising public housing by transferring public titles to the community and social housing sector increases homelessness, dislocation, crime and breaks down social cohesion. Increasing inequality poses a direct threat to investors in two ways. Inequality puts direct pressure on social cohesion. It increases the need for increased police and jails to put a lid on protests breaking out in the community as those denied their place at the community table take matters into their own hands.

Dr. Joseph Toscano / Joint Convener Defend And Extend Public Housing, Sept 4

Commenting on this Blog entry will be automatically closed on November 5, 2017.

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