Housing was stuffed 50 years ago. The Henderson report tried to address it which Whitlam responded to. When Whitlam was dismissed a lot of the gains were lost or diluted and it has gotten worse more or less ever since.

Housing-Specific Recommendations

Henderson made 12 major housing policy proposals, including:

1. Massive public housing expansion
   → Build 50,000 new public homes over 5 years (a ~50% increase in stock).
2. Commonwealth–State Housing Agreement (CSHA) overhaul
   → Increase federal funding; tie it to poverty reduction targets.
3. Rent assistance for private tenants
   → Introduce a national rent supplement for low-income renters (foreshadowing today’s CRA).
4. Home ownership support
   → Low-interest loans and deposit assistance for first-home buyers on low incomes.
5. Boarding house & emergency accommodation
   → Fund refuges and upgrade substandard lodging houses.
6. Indigenous-specific housing programs
   → Community-controlled building in remote and urban areas.
7. Zoning and land release
   → Pressure states to release cheap land to reduce urban sprawl costs.

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Government Response (Pre- and Post-Dismissal)

Result: Public housing as % of total stock fell from 4.5% (1976) to <3% by 1983.

I must admit I have made a decent amount of money investing in property. However it wasn’t residential property. In the 1990's and 2000's I was quite heavily involved in a commercial and retail property investment scheme in London which was set up by a family friend of mine.

It made me a substantial amount of dough over a ten year period. It really set me up for life, I was pretty much a millionaire by the time I was 40. It was quite a gamble at the time but we completely hit the London commercial and retail property market at the right time and when I eventually cashed out it meant that I never have had to worry about money much since.

I see myself as being a very lucky boy in that respect but since that cashing out I haven't felt the need to try anything else again in terms of property investment.

You get ahead, become financially comfortable and that's enough for me....

I've had all sorts of people around trying to get me to invest in residential property. I'm not interested in it whatsoever.

Don't have the need to keeps getting richer.

Football us life said:

I must admit I have made a decent amount of money investing in property. However it wasn’t residential property. In the 1990's and 2000's I was quite heavily involved in a commercial and retail property investment scheme in London which was set up by a family friend of mine.

It made me a substantial amount of dough over a ten year period. It really set me up for life, I was pretty much a millionaire by the time I was 40. It was quite a gamble at the time but we completely hit the London commercial and retail property market at the right time and when I eventually cashed out it meant that I never have had to worry about money much since.

I see myself as being a very lucky boy in that respect but since that cashing out I haven't felt the need to try anything else again in terms of property investment.

You get ahead, become financially comfortable and that's enough for me....

I've had all sorts of people around trying to get me to invest in residential property. I'm not interested in it whatsoever.

Don't have the need to keeps getting richer.

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I get some people enjoy the thrill of dealing and speculating in whatever investment they choose. Greed is an issue.

I also see people who have a massive tech pay packet and you'd think just work 10 years and then do whatever you want. They're actually highly ambitious and engaged that they'll end up doing other things that demand high and pay well. I myself would be very content taking it easy after gaining financial independence. For some work is a sense of purpose while others want to travel.

Football us life said:

I must admit I have made a decent amount of money investing in property. However it wasn’t residential property. In the 1990's and 2000's I was quite heavily involved in a commercial and retail property investment scheme in London which was set up by a family friend of mine.

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Same. I have made good dough investing in property, but only commercial property.

And the odd coca farm

JS96 said:

Greed is an issue.

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Yep greed is definitely an issue for some. But I'm essentially not a greedy person. I've never been particularly ambitious for money.

The scheme in which I invested in was set up as a basic direct property fund. It was in an era, mid to late 90's to mid to late 00's where investing in 'bricks and mortar' commercial and retail units in London were still a burgeoning investment.

There was very good rental yields combined with very good capital gains. My window to cash out was in 2007. I did, admittedly I was wanting to transition into another term which was open to me but after years of those very good gains I got a touch of the wobbles....

Then in 2008 came the GFC followed by a crash in property values over the following years!!

After that came a commercial boom but a declining need for high st 'bricks and mortar' retail and commercial property which was the basis of our scheme.

So yeah I'm glad I got the wobbles....

I was younger then, it was in a 'right place at the right time' situation. These days I'm far too risk adverse and happy with my lot!

LFC said:

how many people do you know hord house's ?
Are you saying people who own 1 investment let alone 3/4/5 etc don't rent them out ?
Thats what hording house's mean to me.
I rent every single one of my 20 investments the titles LFC have won lol......

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I would say anyone who owns more than 2 houses is hoarding them

IMO, why stop at houses? We might as well be allowed to hoard water.
Renting out multiple properties is a problem. They should not be for sale liker this

You have 10 people and 10 properties, but one of those people has 20x more money than the rest, he is buying all ten and renting them out for maximum profit. That ain't no way to live.

For me, it should be a basic human right and regulated.

Muz said:

I understand that investment in houses was encouraged by consecutive governments as a way to build wealth. I don't blame anyone for taking advantage of the situation but it needs to stop.

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Yep.

Muz said:

Your 'mate' is a parasite and is part of the problem.

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Weird thing is he is blaming short term rentals while this is going on.

tsf said:

I would say anyone who owns more than 2 houses is hoarding them

IMO, why stop at houses? We might as well be allowed to hoard water.
Renting out multiple properties is a problem. They shoudl be for sale.

You have 10 people and 10 properties, but one of those people has 20x more money than the rest, he is buying all ten and renting them out for maximum profit. That ain't no way to live.

For me, it should be a basic human right and regulated.

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Which is the point of my posts really. Plenty of other ways to make a few quid rather than fuel a housing crisis....

The lazy politician argument is that people with many houses provide housing to others. I think that can only be true is it's done morally and fairly but the market will determine rent rates and the demand pushes it up. A fairer and affordable framework is needed for the vast majority to be able to build or purchase a home.

Once a person has purchased their own home, why do they need a second? Invest the money elsewhere. Houses are fruitful investments currently. As noted above you can invest your money in a lot of other things.

My other beef is all these new developments go up but they're not for the average citizen. They're already overpriced, poorly built and are to serve investment portfolios by adding leverage. I see them all over the world and just comment 'they're not built with most of us in mind'. Hannover has an abundance of them but no average worker can afford them. There needs to be laws on properties sitting empty. Personal property needs to be respected but there's a limit. At the same time, the state propping up the market by paying some kind of subsidy to an owner to force them to rent a place out is going to be very expensive.

Berlin stupidly sold off all its state housing to cash in early as the city was broke. It'd be worth 5-10 times more now if they'd held onto it and now they're even more broke and have no control at all. An old boke in Munich who owns 10 apartments was told by the tax office the rent he takes is too low and doesn't reach a certain taxable level deep in some law. The guy rented to fairly to his tenants as he didn't need the money and the authorities start this garbage.

JS96 said:

The lazy politician argument.....

Berlin stupidly sold off all its state housing to cash in....

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In the 1980's Britain, under Margaret Thatcher's Conservative Government passed a law where council house (social housing) tenants had the rght to buy their rented property at a reduced rate.

It was a very popular policy amongst everyday voters particularly in London where it was party time because council flats were being bought by the tenants for as little as £30,000....which at the time was about 1/3 of the value.

Today those same flats might be worth up to £600,000!!

A lot of these properties eventually ended up in the hands of private landlords and property rental companies and are now rented out to private tenants for up 6 times the social housing market rate.

It has turned out to be a disastrous policy.

Today most of London's remaining social housing is tenanted by lower income or unemployed migrants. I remember seeing one report that said 50% of London's social housing tenants are African migrants.

You have this bizarre situation where young professional graduates are renting ex council houses from the private sector for up to £500 per week with their next door neighbour paying around £100 per week to the council housing department. And if that person is unemployed the social security is picking up the rent.

Football us life said:

In the 1980's Britain, under Margaret Thatcher's Conservative Government passed a law where council house (social housing) tenants had the rght to buy their rented property at a reduced rate.

It was a very popular policy amongst everyday voters particularly in London where it was party time because council flats were being bought by the tenants for as little as £30,000....which at the time was about 1/3 of the value.

Today those same flats might be worth up to £600,000!!

A lot of these properties eventually ended up in the hands of private landlords and property rental companies and are now rented out to private tenants for up 6 times the social housing market rate.

It has turned out to be a disastrous policy.

Today most of London's remaining social housing is tenanted by lower income or unemployed migrants. I remember seeing one report that said 50% of London's social housing tenants are African migrants.

You have this bizarre situation where young professional graduates are renting ex council houses from the private sector for up to £500 per week with their next door neighbour paying around £100 per week to the council housing department. And if that person is unemployed the social security is picking up the rent.

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I know many everyday types whose parents were able to buy in that scheme but you're right that a lot ended up in inappropriate hands.

Fellas i have to confess I have sinned.
I think a thankyou should be in order having created such great post insight in here.
It's been enlightening to see - note the LFC title 20 comment - despite what some took as gospel I WISH I had 20 investments despite what you think of those overall.
I'm afraid not - I have done ok after working and sacrificing for many years with my beloved wife, comfortable is about where we are, in saying that I will never begrudge anyone or take them down who has started with sweet FA and got somewhere for their fams security and well being, you always pay your dues getting to that position and pay for the privilidge......

LFC said:

Fellas i have to confess I have sinned.
I think a thankyou should be in order having created such great post insight in here.
It's been enlightening to see - note the LFC title 20 comment - despite what some took as gospel I WISH I had 20 investments despite what you think of those overall.
I'm afraid not - I have done ok after working and sacrificing for many years with my beloved wife, comfortable is about where we are, in saying that I will never begrudge anyone or take them down who has started with sweet FA and got somewhere for their fams security and well being, you always pay your dues getting to that position and pay for the privilidge......

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Its nobody's business but yourself and your family's how and where you invest your money dude...
There are some fairly odd opinions on here but each to their own agenda I suppose.

Pauline Hansen was just interviewed on ABC Brisbane Morning Show from Mar-a-Lago where she was giving a speech at a Conservative Conference. In the interview with the extremely fair minded Steve Austen from the ABC she alluded to mass migration into Australia as the reason for the housing crisis....

According to Steve Austin - the journalist interving Jansen, One Nation's membership has doubled in a year and they are now sitting at 15% in some opinion polls!!

Monoethnic Social Club said:

Its nobody's business but yourself and your family's how and where you invest your money dude...
There are some fairly odd opinions on here but each to their own agenda I suppose.

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Fair points....

Football us life said:

Fair points....

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The accumulation of wealth, in ANY form, is the hording of something or other... Taking the moral high ground against residential property over say something like the stock market for example is laughable...

Monoethnic Social Club said:

The accumulation of wealth, in ANY form, is the hording of something or other... Taking the moral high ground against residential property over say something like the stock market for example is laughable...

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Yeah but we all seem to be of the left or at least, if you're like me of the centre-left on here....

Taking the moral high ground is what we do....

Monoethnic Social Club said:

The accumulation of wealth, in ANY form, is the hording of something or other... Taking the moral high ground against residential property over say something like the stock market for example is laughable...

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My argument is not about morals, it's that it is not beneficial for a successful and happy society.

It had its time and it needs to go.

if people can invest in anything, why not rent out police to only those who can afford it? The fire brigade? You could own your own and charge rates to uni students if they have a fire. Depending on how much they pay, you can decide how much water you give them or what team tackles the blaze.

You could then start lighting your own fires and make heaps of money