‘Developers only want to build luxury housing’ is a myth that absolutely annoys the hell out of me.
-
@liamvhogan speaking as a single residential homeowner, I don’t care much about the sticker price of my house except as it compares to any other house (or eventually retirement place) I might want to move to.
If they all halved tomorrow the net effect on me would be meh.
-
@drew ahh but just because you aren’t thinking of liquidating the value doesn’t mean it isn’t there. If you tomorrow needed to find a very large sum of money, to borrow from a bank, you’d care very much.
-
Simon dē Gulielmōreplied to Liam :fnord: last edited by
@liamvhogan As far as I can see, there isn't an extensive house/flat-sharing system to the scale that exists in Germany. There are a lot of half-empty big houses here. I don't know if that is because of legislation or cultural attitude. Another thing which I noticed, when I was in South Korea, is that companies buy or have apartment blocks built to offer either discounted or free accommodation to their employees. As far as I know this is only done for mining or oil workers in Australia.
-
Liam :fnord:replied to Simon dē Gulielmō last edited by
@simonwilliamson that’s right. Germany tends to have better quality housing stock (at least in the former West) but also has an overall lower standard of living in comparison to Australia. That’s reflected in household formation, which is also a big part of Australian housing crisis: household size has dropped hugely in the past decades and has dropped more and more since the advent of COVID.
-
Simon dē Gulielmōreplied to Liam :fnord: last edited by
@liamvhogan So the set-up, in terms of infrastructure and legislation (and whatever other details there are) is an outdated relic of the post-war family boom conditions?
-
Liam :fnord:replied to Simon dē Gulielmō last edited by
@simonwilliamson and wealth holdings. Australia is an outlier in having so very much money tied up in housing, and held by such a large number of small owners.
-
@liamvhogan I remember someone putting it nicely that the problem is that once people buy the affordable housing they're now part of the voter base that wants housing prices to increase
-
Thermite Be Giantsreplied to Liam :fnord: last edited by
@liamvhogan @simonwilliamson compared to Canada though? Very similar conditions
-
Liam :fnord:replied to Thermite Be Giants last edited by
@ThermiteBeGiants @simonwilliamson Vancouver is notoriously as tight a housing market as Sydney is. Maybe worse.
-
Thermite Be Giantsreplied to Liam :fnord: last edited by
@liamvhogan @simonwilliamson Toronto not far behind either