Taking housing back from the banks apply for housing benefit

Years ago, driving to university (in the good old bad old days when university education was virtually free), I noticed that someone had painted on the university drive, ‘people before profits’. I immediately adopted that slogan as a personal catch-cry.

The function of the economy is to serve society, not the other way round. What we need is a ‘people’s bank’. We used to have one. Which bank? The commonwealth bank, established by a labor government in 1911 and sold off by another labor government in 1996.

Hi chris, this is a big problem. Good to see alternatives being sought. While interest rates have to be a problem sure desire is a greater. People around me are paying huge amounts for houses that are closer to the city. The interest rates are the same aren’t they whether you buy in northcote or caroline springs.How can i apply for housing benefit

as I see it the auction system with its % fees to real estate agents is a bigger driver. If all houses had to be sold rather than auctioned then the speed at which prices accelerated might slow. What do you think? I am not an economist.

Sounds good but where does the owner (?) in this common equity housing gain equity for future loans etc…. As normal appreciation kicks in – and what about inheritance issues – what happens to ‘my’ equity I’ve invested into the property and may someday want to bequeath to children?

Great idea chris. Have you also looked at the new the land rent bill: under the scheme rental payments would not go to paying off the land but tenants could buy their land at any time for its unimproved capital value. This scheme also recognises the part that high interest plays in the problem of home ownership.How can i apply for housing benefit

It is good to recognise that the cost of building a house has not increased. In fact with new technology etc. It may be cheaper. It is the price of land that has skyrocketed to alarming levels at this time and so this is the area that needs attention.

How can we address the issue of spiralling land costs? Negative gearing, rezoning, speculation, the fact that huge easy dollars can be made in land banking. It is interesting that in times of easy credit it all seems to go into land purchases.

Congratulations on a perceptive article. I also was ‘struck’ by the sentence, a market is only able to understand money, not people. As another respondent points out, we used to have a bank that was a people’s bank!

What an inspirational article/concept which I really hope gets the attention and funding it deserves! I totally agree that accessible housing should be a right rather than a privilege as stated in your article.How can i apply for housing benefit

Well done, chris. I started thinking about all this when reading leonie sandercock’s books in the 70s. Then I was made a refugee in the suburbs by successive landlords (speculators, really) who kept on selling up and putting moving costs in my court. No legal or financial recourse until my GP recommended me, in my fraught state, for public housing – stability at last!

Thank you all for your comments, questions and encouragements. I’m not sure how long people will keep coming back here to check for further comments and answers so I have chosen to reply to comments on the BRING DOWN THE HOUSE blog and apologise for the inherent narcissism in that. It is also a forum more siuted to ongoing dialogue and hopefully leading to action.

It is market parameters set by industry and government that create high demand and force buyers to play the ‘who pays the most, wins’ game.How can i apply for housing benefit the greatest disadvantage is for the homeless and those at risk of being homeless.

It is worthwhile reflecting on whose hands the value of the land is in, and who benefits most from it. On the other hand, people are building excessive ‘mcmansions’ because conventional ‘sense’ (and possibly financiers conditions) is that you shouldn’t build under-valued houses on over-valued land.

As a young(ish) person looking at buying housing, I think something drastic does need to happen. The unit next to ours (which we rent) sold for $540,000+, which we worked out to be 44 years rent. Hence we are in no rush to buy!

Thank you for taking this step. It would be interesting to know how helpful it has been for you personally. I like the idea of do follow blogs, but get very irritated when the bulk of the responses are of the kind, great post, I enjoyed reading it, or fantastic blog, keep up the good work.How can i apply for housing benefit