New developments are always gonna be luxury. That’s how it works. The rich live in the new buildings, and the poor in the older and more run-down buildings. Building new luxury housing means that less luxury housing will be freed up.
What I really hate are house flippers. They take an old house, make it fancy, and sell it at a markup where otherwise it would be affordable housing. We need a higher quantity of housing first and foremost, quality comes second.
I mostly agree but luxury housing also means larger housing. Larger than smaller or younger families need. This jacks up the price. This is a byproduct of ridiculously expensive compliance laws which make fixed costs on new builds too onerous to justify smaller or cheaper builds. Zoning needs massive reform. NRZ needs to be abolished. Australia has pursued a policy of high immigration for decades. That’s fine, but it requires massive, dense building to keep up with demand. Unfortunately for urban residents, it means the “character” of their neighbourhoods are going to change drastically.
Mate, i grew up in a postwar housing comission, a suburb created from whole cloth (Holmesglen). I promise you the moneyed were not taking these houses even when they were brand spanking new
New developments are always gonna be luxury. That’s how it works. The rich live in the new buildings, and the poor in the older and more run-down buildings. Building new luxury housing means that less luxury housing will be freed up.
What I really hate are house flippers. They take an old house, make it fancy, and sell it at a markup where otherwise it would be affordable housing. We need a higher quantity of housing first and foremost, quality comes second.
I mostly agree but luxury housing also means larger housing. Larger than smaller or younger families need. This jacks up the price. This is a byproduct of ridiculously expensive compliance laws which make fixed costs on new builds too onerous to justify smaller or cheaper builds. Zoning needs massive reform. NRZ needs to be abolished. Australia has pursued a policy of high immigration for decades. That’s fine, but it requires massive, dense building to keep up with demand. Unfortunately for urban residents, it means the “character” of their neighbourhoods are going to change drastically.
So your solution is that no new housing be affordable? I don’t really think trickle-down housing is the solution you think it is…
Mate, i grew up in a postwar housing comission, a suburb created from whole cloth (Holmesglen). I promise you the moneyed were not taking these houses even when they were brand spanking new