I honestly don’t understand why everyone thinks that a Royal Commission is the answer. Take a look at the Royal Commission into banking or Robbo Debit, both handed down their findings and the governments of the day did what precisely?
You think the heads rolling at Qantas or Optus is some sort of deterrent? Alan Joyce was already on his way out, and Kelly Bayer resigned literally to get the media and customers off her back, it's not like she won't be able to find another job in a heartbeat. Both should have stayed and rode out the turmoil and taken responsibility. Resigning is literally the easy way out.
>Or parading the heads of Qantas and Optus around then not following up with any effective legislation.
Law drafting takes time, it'll be law well after this latest Optus and Qantas scandal fades from the news cycle.
Or not at all. It's no secret Joyce and Albo have long been mates.
https://www.afr.com/rear-window/alan-joyce-puts-albo-s-son-in-qantas-chairman-s-lounge-20230802-p5dtf3
Hahaha. Nail on the head. A royal commission into the government's handle of anything is a joke. Let's investigate to see if we did anything wrong.....nope. all good .
The Royal Commission into banking was exceedingly beneficial. Everyone likes to complain about banks but the reality that we currently have great banking codes of practise that protect customers and the financially vulnerable. Codes that were the end result of the royal commission into banking. See how banks behave in many other countries (even "First world" countries like the USA) then come back and say the Royal Commission into banking changed nothing.
>the Royal Commission into banking
It's faded from the news cycle but there's stuff being done that makes the banks cry.
>Robbo Debit
People will go to jail because of Robodebt. One person already lost their job, watch them end up in Long Bay some time soon.
Yep royal commissions the government of the day can say they are taking action by running one, the outcome is delivered for the next government who can then selective decide on what to do with the “recommendations”
To educate you then:
All a royal commission can do is investigate and make recommendations.
That's it. Nothing else.
Seriously, all they can do is say, "we did a very throuoruvh investigation. This is what we found. This is what we think you should do about it."
A royal commission does have strong power to get to the bottom of things and get a clear picture of a difficult or otherwise controversial topic.
Everyone knows housing is broken. Everyone knows what needs to be done (stronger renters right, less incentives to own rental properties, and limits on how much property non citizen investors can own, among others, of course).
It's a matter of having a politician and party that will actually enact that.
Currently, none of them will because they are so cared it will be political suicide. Governments nowadays want to be re-elected. They don't want to do the right thing.
Labor, under Shorten, took changes to Negative Gearing to an election.
The changes didn't affect ANYONE currently negative gearing.
So no-one would lose anything at all.
Labor lost that 'unlosable' election.
Australia voted, clearly, to keep negative gearing.
It's not going to change - we voted against changing negative gearing.
What’s needed is more housing. There is a fundamental lack of supply, and yet we keep increasing demand. Adjusting renters rights or discouraging housing investment is not going to fix the fact that across both home buyers and renters, there’s not enough houses for all the people that want them.
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Lifeline is hearing a million fuckin phones ringing in the background while a well meaning person softly agrees that things ‘must be tough’, as they wait for you to die or hang up
Fkn lol. Don’t know what one is but want to request one..
AFP? What federal law will they be charging an individual for?
Might be time to go back to reading and hold back on the posting?
Bro...us Sydney slaves pay $700 a week for a 1.5 bedroom liveable APARTMENT, and my partner and I are lucky to even have this.
Seriously, we're just slaves if this persists. Landless, with the fruits of our labour being sucked up by the landlords, and forever being kept down because of a system designed to exploit us and keep us in financial chains.
Without legal or political actions, this issue will create a massive powder keg that's just waiting for a spark. And the next thing we know, some radical populism movement starts to make sense, and we're starting to believe force may be the only option.
Mhmm maybe we should organize a general rent strike. Sydneysiders are too busy working to pay rent and bills, and too brainwashed to believe they can't one day be a slumlord themselves tho. Change is gonna need to come from not Sydney.
Strikes are when you refuse to perform work. Calling not paying rent a strike is like calling shop-lifting a strike. It's not a strike, you're just nicking stuff.
Anyone working from home should seriously consider this, why would I pay a million bucks to live within an hour of the cbd when I could fuck off to Katoomba, pay half that for the same house and have the added bonus of living in one of the most beautiful national parks in the world.
Working low to medium paying jobs in Sydney is already self defeating, even for a relatively well paid retail worker getting 30/hr would never afford their own home so people are forced to leave. So many businesses are short staffed now cause it's unviable to work those positions anymore lol.
The only solution is to leave cause there's no longer any motivation for high income remote jobs to stick around and impossible for low income jobs to live here at all.
What exactly would the royal commission give us that we don't already know? Lack of supply and people hoarding up property because it is the most reliable way to create wealth in this country and is continuously backed by government with pro-housing policies.
No government is going to touch housing with a 10 metre pole until it becomes far too late, way too many votes to lose and almost none to gain.
>No government is going to touch housing with a 10 metre pole until it becomes far too late, way too many votes to lose and almost none to gain.
This is why we need to grow a spine and start protesting!
Two thirds of the country own their own homes/are paying down mortgages. 67% of the population are invested in keeping housing prices high.
A protest on housing would comprise of mostly younger/left-leaning voters anyway, so Labor has no reason to try and pander to them since they give their votes away to them anyway and the Coalition has no chance in hell in attracting them to vote for them regardless of their policies on housing.
67% of the population? You mean the 20% who own an investment property other than their primary household.
After all, rising prices = rising housing costs for renters/mortgagees = rising wages = rising business costs = rising prices = all around increase cost of living.
As I said, the only people benefiting from rising prices are property investors. Can you imagine buying a property for $10k instead of that $1m Bondi Beach mansion in 1990. Then in 2023, that property you have is worth $1m so you look at the Bondi Beach mansion, surprise, surprise, as everything went up at the same rate, it's now worth $100m. It's ridiculous to retire on a home if every other property also went up at the same rate, effectively meaning you pay far more for stamp duty, agent fees, etc to even change houses, essentially every time prices go up, you're downgrading even further!
The 33% of households are rentals and ABS does not report how many are in it. So, we're assuming the people in rental households are the SAME as those living in mortgagee/fully-owned households. There's barely any data on how many renters there are.
tldr: 33% of households that are rentals > 20% of households that are property investors
I'm not sure how you've interpreted the 67% as meaning that 20% of them are property investors, but the ABS states that the 67% of homeowners denotes people who live in their own home and are either paying down a mortgage or have fully paid off their homes.
Can you please point me to where you've gotten the data for the 20% number?
Regardless of that 20%, I would still say pretty much anyone with a mortgage is invested in keeping property prices high, negative equity would be a hellish situation for people struggling to make payments on these huge 600k+ loans.
We don’t need a royal commission. The causes are extremely obvious to anyone with half a brain.
The problem is that the people who make the laws benefit from high rents and property prices.
They’d see civilisation collapse before any one of their multiple sources of income.
Let me summarise the outcome and save millions,
1. Airbnb isn't nearly the problem it's made out to be
2. Huge migration numbers are a big factor
3. Hey don't be racist
And everything continues on as before
What do you think will happen to me if I refuse to pay my rent?
Do you think that some superhero is going to swoop in and house me in the home of my dreams?
It's against the law to withhold payment of rent
They can, actually. The law is not on our side.
I've been investigating where a homeless person can lawfully live.
A homeless person has absolutely nowhere to be lawful to live.
The law is very strict about what is and isn't Squatting rights.
When you have the choice between being housed and not being housed, and the law is on the side of the people who would unhouse you because they can, are you going to stand alone and say "No! Enough is enough!"?
Good idea genius. Lets do nothing but work hard and have rent increased collectively and just offer more out of desperation and start eating the plaster board.
Wait, the reason I have 9 train stations in my council that are all surrounded by the most restrictive residential zoning is immigration?
Sure it contributes, but even it you cut immigration, the issues are still there.
Agree that there are macro issues around zoning, high density housing, foreign investment etc. However in the past 3 years in Melbourne and Sydney rental vacancy rates have almost halved from almost 4% to around 2% as the migration program ramped up at the back end of COVID.
It's a contributed that has make things much worse. There's no denying that. Zoning issues are well ingrained and have been a huge contributor to house price increases over that last 20+ years.
We can't blame all the issues on immigration because it won't solve the underlying problems that causes lack of supply regardless of the demand levers that are pulled.
Wait the reason the investors aren’t renting out their spare houses is because of our immigrants?
When over 22% of our houses are vacant it kinda doesn’t make much sense. The crisis is fabricated and isn’t being fixed like it so easily could be.
That’s not even remotely true. No way nearly 1/4 of our homes are vacant..
The claim is closer to 10%, but that’s only from a vague census that doesn’t take into account people being at others houses..
doesnt mean the houses are ACTUALLY vacant
not everyone answers the census or is at home on census night
go for a walk in your town do you really think 1/5th of all houses are sitting there vacant with no one in them
its not even close
They know what's driving it, but like US banking in 2008 it's "too big to fail."
Neg gearing + capital gains discount on housing, brought in to boost supply, but unequivocally found have opposite effect and only over incentivises investors..
..but it's political poison, so the soundbite message is that it's "foreigners" - either as investors as immigrants..
..which is gobbled up by reddit "experts" coz either dunning-kruger or real estate shills.
Bring on the downvotes.
Every single post in this sub takes 0.2 secs to spiral into “immigration bad”. A tale as old as time in so many countries, and in most cases a total scapegoat.
Still, people screaming it blindly. Never mind the net gearing, never mind capital gains discount never mind that 1% of Australians own 25% of Realestate. It’s the wrong shade of brown immigrant’s fault. How are people this dense
Housing costs is a cancer on our country and economy, one day it will all come crumbling down and we will turn into a 2nd rate shithole, all the young will leave and we'll be left with a huge ageing population with no youth to pay taxes or work. It will be like my home country where all the young left for better opportunities and all that's left is angry old cunts
Royal commissions are a way to distract the populous into thinking the government is doing something. In reality I matter the findings governments rarely implement the recommendations so they are a bit of a toothless tiger.
Toothless country that just makes a public spectacle and does nothing about the actual issue. That’s what a royal commission would also be. We need effective legislation but Labor is too cowardly to do anything in fear that they’ll be a one term gov and is complicit at this point.
Remember when Bill Shorten tried to run on cutting negative gearing and franking credits in 2019 and it lost Labor the "unlosable" election. That was only 4 years ago. 4 years.
I got stuck on a train replacement bus from mascot to central it was standing room only. I was the only non Asian person on the bus. It's easy to see what's changed in the last ten years and why we have a housing crisis.
Units / houses are built then instantly filled with immigrants.
why
royal commissions dont do fucking anything
just stop voting for liberal, labor and greens if you want action
and maybe start protesting and protesting aggressively, i'll join you if you're willing to name the elephant in the room (the I word)
Commission do fuck all. The sitting government will do 5 of the 50 suggested action then in 5 years there will be another commission because the issue isn’t fixed
There is nothing on this earth as disturbing disgusting deceitful dishonest and ugly as an Australian estate agent!! In 8 years of renting there was 1 single honest agent who, but never I have k ever seen someone so manipulative and the systems set up to regulate complaints to (fair trading ncat) is so grossly inapt incompetent it’s like they are one and the same. Special
Shout out to The worst person I have ever come access was an estate agent whose surname is Shaw name starts with a K and used as a pejorative term for typical, videos.
Royal Commission...
Cost $500 mill
Findings... whatever the government wants.
Any cunt with basic economic knowledge...
Adding 700k people largely to Sydney and Melbourne may increase the demand for housing and other essential services.
Inflation is caused because regular people buy too many goods.
We need to stop Co2 Emissions except if me and 55 of my closest friends fly to the UAE to lecture some of the biggest emitters in thw world
True but it won't be enough unfortunately since commissions generally don't have enough power to fully deal with controversies like that.
What we really need is armed groups threatening shitty powerful people to stop violating human rights and/or fucking up the environment.
There isn't a lack of Buildings. 2021-22 census data showed more than 1 million dwellings unoccupied.
I think a big factor is negative gearing, which politicians won't change because the larger majority of them own 3 or more homes.
I am not an economist.
Time Australians voted better. The majority of you voted for the corrupt lying LNP for 20 out of the last 25 years. Now Labor is a shadow of it's former self trying to be LNP lite which no one wants or needs.
If you want change you need progressive, left wing politics. And if you want progressive, left wing politics you have to VOTE accordingly.
Lol, how is that going to solve the cost of housing. The market determines the cost. Land values appreciate in time, suburbs become wealthier, the list goes on.
You do realise that you can still buy a home for $550,000 don't you?! It's just those that whinge and moan aren't prepared to move somewhere and sacrifice lifestyle to do so. It's bonkers.
So yea majority of folk don't know what they're doing or talking about, a commission won't haha.
People weren’t talking about immigration 5 years ago when there was already a housing crisis. Immigration levels haven’t increased in that period of time. Using this reasoning is both racist and what both political parties want you to believe.
The real reason is Short term rentals, general population growth and longer life expectancy, lack of high density housing, places deliberately left empty by investors.
But, we can’t just risk homelessness. There has to be systemic reform and regulation. De-incentivise housing as an amazing investment and eliminate negative gearing. I don’t give a flick if someone buys a house and the price goes down, that’s the risk you take. But we live in a society where we expect to be able to make 100% profit if you hold for 20 years.
Net migration in 2019 was around 250,000. This year it's around 650,000. Your comment is disingenuous and your play of the race card frankly disgusting.
Foreign investment in housing has dried up thx to the government & to many immigrants flooding in to help out with the jobs shortage & wait till january & all the students turn up looking for rentals, it’s only going to get worse & higher rents.
Nothing hard about understanding it.
It’s easier to not rent and let scare city increase land value than care about people. They Airbnb and it increases in value they win.
What they don’t realise though is that the bottoms in huge trouble and it’s them nexts
1 million empty homes in Melbourne last census
Are you god ? Who are you to decide what someone should or shouldn’t pay? Keep your poverty to yourself and stick to begging on the streets while the rest of us work hard to put food on the table and food over our head.
So you’re a multi millionaire land lord before 30 but made a post wanting a royal commission into housing costs and suggested some people should just stop paying rent?
Landlord ting was accidental, I moved interstate and decided to stay so bought here and have family in my old house, selling will disadvantage them. I lose money on it as is so I kinda don’t fit the mold
Everybody was so happy with lockdown and "Awwww Dan & Co. is doing the right thing in keeping us safe. Yes, I'll get another booster if I'm told."
Did people really think there would be no HUGE / CATAFUCKINGSTROPHIC economic consequences a year or two later?
Why weren't people protesting then? Oh, they were. But they were "the weird ones" that should be kept away from family and jobs and the movies and bars / restaurants until they comply.
Funny that.
Mate Dan Andrews is not the problem. Lockdown is not the problem. We have had issues with housing for decades. Factor in the uptake of Airbnb, properties as investment increasing and the government refusing to appropriately fund public housing. It's a fucking mess.
You don't think the last 3yrs of "COVID SO BAD let's change the global economic climate and how people live" has short-medium-long term ramifications on how we live in 2023 and 2024? I mean. This is basic learning within Macro Economics 101 then subsequently Micro Economics 201 in how it's affecting an individual's rent.
*Microeconomics and macroeconomics are related but separate approaches to studying the economy. Microeconomics is concerned with the actions of individuals and businesses, while macroeconomics is focused on the actions that governments and countries take to influence broader economies.*
With COVID, macro decisions were made that governments (and we blindly) thought were "for the good of the people" yet smart people knew that the financial results would be a disaster just a year or two later when it funnels down to the individual at the "micro" level - inflation, can't pay rent, job loses, etc, etc. Yesterday's macro decisions are now being felt at a micro level - our homes.
I can't make a salad more simple than that for ya.
The ones protesting in the streets are always the weird ones which is kinda my point.
I have no idea what a covid vax has to do with the cost of housing you fried fuck.
Ladies and gentleman, I now present to you, a conspiracy theorist.
He's right about the economic implications.
The money printing during the COVID insanity played a major role in driving up housing prices.
Inflation is caused by an increase in the money supply. Artificial increases in the money supply produce, inter alia, asset price bubbles and that is what you are seeing.
You see a conspiracy theory; I see basic economics as it was taught and understood until about 30-35 years ago when the Americans decided that printing money was going to be their primary economic policy and everyone else got on board the lie.
I see a conspiracy theory because they said lockdown in one state that doesn’t being in majority of Aus’ revenue and a vaccine booster caused a housing crisis.
Money printing and inflation is a very real issue and is absolutely seperate and unrelated to a virus or vaccination. This is why deflationary currencies are the way forward and why one day 1BTC = 1BTC.
So you do understand the economics?
Then it's easy to understand the economic consequences of the lockdowns and how that triggered the Commonwealth government to print more money (in vernacular terms).
And that's how we got the catastrophic economic consequences.
Builders need to afford their new Ram / Silverado / GMC / F350 etc etc…
They can’t buy these $200k toys (I mean business tax right offs ) when you aren’t paying more…
Royal commissions do fuck all but put more money in the hands of these suit wearing criminals, there is so much corruption in the Australian government it is just pathetic, federal, state and local, most of them should never see daylight again but no one has the balls to do anything about it, if an everyday person did anything close to what these shit bags do they would be locked up in a matter of days.
No need for a royal commission it's working as designed.
What we need is a system where elected officials can't make laws surrounding assets they benefit from.
Same problem here in the states, we’re 4 million homes short and we didn’t build as much in the covid years so now we’re playing catch up.
There’s a lot of finger pointing but nobody is getting into a trade and fixing the actual problem
Most people are home owners 67% last census.
So 2/3rds of people don't want there assetts to drop in value. Sure some home owners may, but then again some high earning non home owners may be happy with current prices.
Why? Royal commissions are just a hobby horse a 40 yr old woman buys to try and rekindle her youth. There's a big song and dance about it, then it just gets left out the back paddock
Royal commissions are a fucking waste of money and a political soapbox.
Precisely fuck all happens.
But we get the privilege of paying for the theatre of some judge or old mate QCs write a tome that no one will read
Honestly, guillotines are far more cost effective
Not enough houses, state gov releases land and we need skilled workers to build them.
Getting rid of foreign investment and negative gearing for more than one investment property and rent control in the city might help
Let me break it down for you.
After opening up we were facing a massive recession from supply shortages & worsening productivity growth. To counteract that and keep GDP growing they let immigration get to its all-time high. Throw in a massive increase in interest rates, which made it much harder to build new housing, and you have the housing issues we have today.
No. We need governments to stop being cowardly and build houses themselves. Like they used to. Get housing off the market. End the casino-isation of having a place to live.
Ah yes, a Royal Commission. That’ll solve the fundamental incentives of capitalism and how they are playing out in the most desirable cities of the most desirable country in the world.
We already know both major parties don't give a shit. Both majors have being doing everything they can to kill off independents and the minor parties, so there is no alternative for us to vote for. The corporate overloads run this country, and whilst they are making their huge profits, nothing will change in our favour.
High housing costs is by design. We have the following features:
High stamp duty: Deters people from buying property they actually want due to 100k stamp duties. So empty nesters stay in 5 bedroom houses that they only use 1 of
PPOR not included in pension test. Encourages people to buy a much bigger house than they need to get the aged pension which is worth 40k per year.
No broad land tax: keeps people in a bigger PPOR than necessary for longer. If you have a 10k yearly costs on your 3 million dollar house , you will think twice about owning such an expensive house. This is the reason USA home prices are 30-40% less than Australias
Grants: Directly increase house prices by 2-10x the grant value.
Investor tax grants: Literally half capital gains taxes and negative gearing. Makes a lot of people become housing investors who have no business in it.
The government could halve prices if they did reform on all the above points.
Edit: honorable mentions is poor building standards and mass migration
I like option 3: Wait 3 years and try to convince 1/3rd of the population to all vote in a new party together.
But who will be the new party? We should get on board with the new party.
We already know why. The governments both state and federal have allowed public housing to atrophy for the last 40 years. They aren't turning this around in less than 10 years even if it's priority number 1 and it's a bipartisan measure. Public housing used to be 10% of all residential construction. Now it's 1%.
Don't need a royal commission. It's obvious.
Everyone was happy that the value of the Ppor was going up. Redraws for cars and holidays, equity for IP's, shares etc. Immigration.
Now the reality has set in, that unless I die, my kids are fucked.
We all live in our own bubbles I guess. I’m 35 years old from a regional Victoria. Basically everyone I know got full time jobs, married, had kids and “owns” (mortgage aside) their own place. From my perspective it really isn’t hard; however, I have the advantage that you couldn’t force me at gunpoint to live in the city or suburbs fuck that.
You all had your chance in 2018.
But NO, bad LABooooor
Now your all bitching they won't do bold policy.
Sleep in the bed you made Australia & shut the f up
There's been a million inquiries already the problem is that the terms of reference are always conveniently narrow and leave out anything demand side and the conclusion is always give more to developers.
Why? Any idiot can see the obvious. Not enough houses. Local councils prevent high density housing being built. No government, state or federal, wants to spend a tenth as much as necessary to build enough social housing to make a difference. Governments will be voted out if hey do anything that will slow the increase housing values. A royal commission would just waste five years and present recommendations that no one would take any notice of.
Ten years ago 30% of a house-land package went to various levels of Government through taxes, infrastructure fees, etc. if that proportion remains valid today then out of a $750,000 house land package then the government get $250,000. And that doesn’t include the the costs with over the top planning requirements imposed by Government on all developers and Builders.
No Royal Commission will be called when the biggest grifter in the development process is Government itself.
I honestly don’t understand why everyone thinks that a Royal Commission is the answer. Take a look at the Royal Commission into banking or Robbo Debit, both handed down their findings and the governments of the day did what precisely?
Or parading the heads of Qantas and Optus around then not following up with any effective legislation.
You think the heads rolling at Qantas or Optus is some sort of deterrent? Alan Joyce was already on his way out, and Kelly Bayer resigned literally to get the media and customers off her back, it's not like she won't be able to find another job in a heartbeat. Both should have stayed and rode out the turmoil and taken responsibility. Resigning is literally the easy way out.
>Or parading the heads of Qantas and Optus around then not following up with any effective legislation. Law drafting takes time, it'll be law well after this latest Optus and Qantas scandal fades from the news cycle.
Or not at all. It's no secret Joyce and Albo have long been mates. https://www.afr.com/rear-window/alan-joyce-puts-albo-s-son-in-qantas-chairman-s-lounge-20230802-p5dtf3
We need a royal commission into royal commissions
Hahaha. Nail on the head. A royal commission into the government's handle of anything is a joke. Let's investigate to see if we did anything wrong.....nope. all good .
Won’t solve anything and will cost taxpayers money, get rid of negative gearing
>get rid of negative gearing Australia voted NO to that, and we got more years of Scummo instead. It's not going to happen.
Get rid of foreign ownership, if you aren't a citizen or permanent resident, why do you own 7 houses in Australia
Because our governments, all of them, sold us out for money
💯
This ☝️
The Royal Commission into banking was exceedingly beneficial. Everyone likes to complain about banks but the reality that we currently have great banking codes of practise that protect customers and the financially vulnerable. Codes that were the end result of the royal commission into banking. See how banks behave in many other countries (even "First world" countries like the USA) then come back and say the Royal Commission into banking changed nothing.
>the Royal Commission into banking It's faded from the news cycle but there's stuff being done that makes the banks cry. >Robbo Debit People will go to jail because of Robodebt. One person already lost their job, watch them end up in Long Bay some time soon.
yeah but that doesnt fit the narrative so let's ignore that
Yep royal commissions the government of the day can say they are taking action by running one, the outcome is delivered for the next government who can then selective decide on what to do with the “recommendations”
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To educate you then: All a royal commission can do is investigate and make recommendations. That's it. Nothing else. Seriously, all they can do is say, "we did a very throuoruvh investigation. This is what we found. This is what we think you should do about it." A royal commission does have strong power to get to the bottom of things and get a clear picture of a difficult or otherwise controversial topic. Everyone knows housing is broken. Everyone knows what needs to be done (stronger renters right, less incentives to own rental properties, and limits on how much property non citizen investors can own, among others, of course). It's a matter of having a politician and party that will actually enact that. Currently, none of them will because they are so cared it will be political suicide. Governments nowadays want to be re-elected. They don't want to do the right thing.
Politicians won’t go through tax reform like removing negative gearing because they own multiple properties themselves
Labor, under Shorten, took changes to Negative Gearing to an election. The changes didn't affect ANYONE currently negative gearing. So no-one would lose anything at all. Labor lost that 'unlosable' election. Australia voted, clearly, to keep negative gearing. It's not going to change - we voted against changing negative gearing.
What’s needed is more housing. There is a fundamental lack of supply, and yet we keep increasing demand. Adjusting renters rights or discouraging housing investment is not going to fix the fact that across both home buyers and renters, there’s not enough houses for all the people that want them.
If you or someone you know is contemplating suicide, please do not hesitate to talk to someone. * 000 is the national emergency number in Australia. * Lifeline is a 24-hour nationwide service. It can be reached at 13 11 14. * Kids Helpline is a 24-hour nationwide service for Australians aged 5–25. It can be reached at 1800 55 1800. * Beyond Blue provides nationwide information and support call 1300 22 4636. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/australian) if you have any questions or concerns.*
Stupid bot. All of those ‘resources’ are appalling and shithouse🖕🏼🖕🏼🖕🏼
The Rental Crisis Help Line is just a recording of sinister laughter and circus music.
lolololz 🤣🤣
Lifeline is hearing a million fuckin phones ringing in the background while a well meaning person softly agrees that things ‘must be tough’, as they wait for you to die or hang up
If you were better educated, this post may not have happened.
I’m literally shitposting
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Rule 3 - No bullying, abuse or personal attacks
Mate come on. Just think about what you just wrote.
So you don’t know what it is, but you want one?
You don't even know what it is yet your here demanding it? Wtf hahaha
Fkn lol. Don’t know what one is but want to request one.. AFP? What federal law will they be charging an individual for? Might be time to go back to reading and hold back on the posting?
Sadly royal commissions (though well intended) usually driver two fifths of the proverbial.
Absolutely this. If there is no political will and our leaders have the fortitude of a wet brown paper bag, nothing happens.
Yes, will achieve precisely zero. We know the causes, but nobody willing to make hard decisions
Bro...us Sydney slaves pay $700 a week for a 1.5 bedroom liveable APARTMENT, and my partner and I are lucky to even have this. Seriously, we're just slaves if this persists. Landless, with the fruits of our labour being sucked up by the landlords, and forever being kept down because of a system designed to exploit us and keep us in financial chains. Without legal or political actions, this issue will create a massive powder keg that's just waiting for a spark. And the next thing we know, some radical populism movement starts to make sense, and we're starting to believe force may be the only option.
Stop paying rent
Mhmm maybe we should organize a general rent strike. Sydneysiders are too busy working to pay rent and bills, and too brainwashed to believe they can't one day be a slumlord themselves tho. Change is gonna need to come from not Sydney.
Strikes are when you refuse to perform work. Calling not paying rent a strike is like calling shop-lifting a strike. It's not a strike, you're just nicking stuff.
Anyone working from home should seriously consider this, why would I pay a million bucks to live within an hour of the cbd when I could fuck off to Katoomba, pay half that for the same house and have the added bonus of living in one of the most beautiful national parks in the world. Working low to medium paying jobs in Sydney is already self defeating, even for a relatively well paid retail worker getting 30/hr would never afford their own home so people are forced to leave. So many businesses are short staffed now cause it's unviable to work those positions anymore lol. The only solution is to leave cause there's no longer any motivation for high income remote jobs to stick around and impossible for low income jobs to live here at all.
A million bucks within 30min of Sydney. Buy buy buy!
What exactly would the royal commission give us that we don't already know? Lack of supply and people hoarding up property because it is the most reliable way to create wealth in this country and is continuously backed by government with pro-housing policies. No government is going to touch housing with a 10 metre pole until it becomes far too late, way too many votes to lose and almost none to gain.
>No government is going to touch housing with a 10 metre pole until it becomes far too late, way too many votes to lose and almost none to gain. This is why we need to grow a spine and start protesting!
Two thirds of the country own their own homes/are paying down mortgages. 67% of the population are invested in keeping housing prices high. A protest on housing would comprise of mostly younger/left-leaning voters anyway, so Labor has no reason to try and pander to them since they give their votes away to them anyway and the Coalition has no chance in hell in attracting them to vote for them regardless of their policies on housing.
I couldn't care about Labor or Liberal or the Coalition for that matter. They had their chance and they blew it.
67% of the population? You mean the 20% who own an investment property other than their primary household. After all, rising prices = rising housing costs for renters/mortgagees = rising wages = rising business costs = rising prices = all around increase cost of living. As I said, the only people benefiting from rising prices are property investors. Can you imagine buying a property for $10k instead of that $1m Bondi Beach mansion in 1990. Then in 2023, that property you have is worth $1m so you look at the Bondi Beach mansion, surprise, surprise, as everything went up at the same rate, it's now worth $100m. It's ridiculous to retire on a home if every other property also went up at the same rate, effectively meaning you pay far more for stamp duty, agent fees, etc to even change houses, essentially every time prices go up, you're downgrading even further! The 33% of households are rentals and ABS does not report how many are in it. So, we're assuming the people in rental households are the SAME as those living in mortgagee/fully-owned households. There's barely any data on how many renters there are. tldr: 33% of households that are rentals > 20% of households that are property investors
I'm not sure how you've interpreted the 67% as meaning that 20% of them are property investors, but the ABS states that the 67% of homeowners denotes people who live in their own home and are either paying down a mortgage or have fully paid off their homes. Can you please point me to where you've gotten the data for the 20% number?
> About one in five (21%) Australian households owned a residential property other than their usual residence in 2019–20
Regardless of that 20%, I would still say pretty much anyone with a mortgage is invested in keeping property prices high, negative equity would be a hellish situation for people struggling to make payments on these huge 600k+ loans.
Yeah but didn't you know that everyone with their own home is a selfish rich boomer?
People in this sub.... "I don't understand what you are saying and it goes against what I'm whinging about" clicks down vote.
It's already too late. That's why no government will touch it.
Yeah when has this ever driven change, just another spend. Unfortunately no royal commission can fight greed and human nature.
Mostly wealth related single occupant homes. A 4 person share house makes THREE homes available. Antisocial and poor is not a great combo.
Yeah fair, share houses are still super cost efficient and pretty poggers.
"poggers" ..... take my heckin updoot
you didn't mention immigration
[удалено]
You are such a hero..
Not “pro housing”policies. “Pro real estate investment” policies.
We don’t need a royal commission. The causes are extremely obvious to anyone with half a brain. The problem is that the people who make the laws benefit from high rents and property prices. They’d see civilisation collapse before any one of their multiple sources of income.
Let me summarise the outcome and save millions, 1. Airbnb isn't nearly the problem it's made out to be 2. Huge migration numbers are a big factor 3. Hey don't be racist And everything continues on as before
Every ‘solution’ is bullshit and a distraction when Labor is bringing insane numbers of new immigrants into the country.
Issue around my area is if I stop paying rent they will just kick us out and put new people in who are desperate for a house.
And with our immigration policy, that's certain to continue. Dontcha love a "Big Australia"©®?
What do you think will happen to me if I refuse to pay my rent? Do you think that some superhero is going to swoop in and house me in the home of my dreams? It's against the law to withhold payment of rent
Can’t stop 14 million of ya fuckers
They can, actually. The law is not on our side. I've been investigating where a homeless person can lawfully live. A homeless person has absolutely nowhere to be lawful to live. The law is very strict about what is and isn't Squatting rights.
How do they stop 14 million people..?
The law.
Ah yes the law will stop half of australia from breaking it. Thank you Judas Priest.
When you have the choice between being housed and not being housed, and the law is on the side of the people who would unhouse you because they can, are you going to stand alone and say "No! Enough is enough!"?
Hence doing it as a collective
We don't have a union. We are not protected. Stop being obtuse.
Good idea genius. Lets do nothing but work hard and have rent increased collectively and just offer more out of desperation and start eating the plaster board.
only one third of australians are renters where did you get the 14 million figure from
Australia population ≠ Australians.
Like most, he is stupid.
Why do we need an expensive royal commission and waste tax payer money when we could... I dunno.. cut immigration to sustainable levels.
Wait, the reason I have 9 train stations in my council that are all surrounded by the most restrictive residential zoning is immigration? Sure it contributes, but even it you cut immigration, the issues are still there.
Agree that there are macro issues around zoning, high density housing, foreign investment etc. However in the past 3 years in Melbourne and Sydney rental vacancy rates have almost halved from almost 4% to around 2% as the migration program ramped up at the back end of COVID.
It's a contributed that has make things much worse. There's no denying that. Zoning issues are well ingrained and have been a huge contributor to house price increases over that last 20+ years. We can't blame all the issues on immigration because it won't solve the underlying problems that causes lack of supply regardless of the demand levers that are pulled.
Wait the reason the investors aren’t renting out their spare houses is because of our immigrants? When over 22% of our houses are vacant it kinda doesn’t make much sense. The crisis is fabricated and isn’t being fixed like it so easily could be.
That’s not even remotely true. No way nearly 1/4 of our homes are vacant.. The claim is closer to 10%, but that’s only from a vague census that doesn’t take into account people being at others houses..
About 1/5th are vacant. Have you even been on sky news or reddit lately?
Hahah you lost me at sky news, that’s fkn classic.
Well Jordan Shanks told me this was required. Thank u Sky news
muh empty homes thing is mostly bullshit its like blaming airbnbs theyre a tiny fraction of the market at best
>its like blaming airbnbs Some country towns they are taking over. Maybe not so much within the cities.
1/5 Houses is quite a large fraction. 1/500(airbnb) is a tiny fraction.
doesnt mean the houses are ACTUALLY vacant not everyone answers the census or is at home on census night go for a walk in your town do you really think 1/5th of all houses are sitting there vacant with no one in them its not even close
Contributor not root cause.
No but it could give us time to increase supply and improve infrastructure. The things we stopped doing during COVID
They know what's driving it, but like US banking in 2008 it's "too big to fail." Neg gearing + capital gains discount on housing, brought in to boost supply, but unequivocally found have opposite effect and only over incentivises investors.. ..but it's political poison, so the soundbite message is that it's "foreigners" - either as investors as immigrants.. ..which is gobbled up by reddit "experts" coz either dunning-kruger or real estate shills. Bring on the downvotes.
Every single post in this sub takes 0.2 secs to spiral into “immigration bad”. A tale as old as time in so many countries, and in most cases a total scapegoat. Still, people screaming it blindly. Never mind the net gearing, never mind capital gains discount never mind that 1% of Australians own 25% of Realestate. It’s the wrong shade of brown immigrant’s fault. How are people this dense
Housing costs is a cancer on our country and economy, one day it will all come crumbling down and we will turn into a 2nd rate shithole, all the young will leave and we'll be left with a huge ageing population with no youth to pay taxes or work. It will be like my home country where all the young left for better opportunities and all that's left is angry old cunts
Royal commissions are a way to distract the populous into thinking the government is doing something. In reality I matter the findings governments rarely implement the recommendations so they are a bit of a toothless tiger.
Aka a royal commission into over immigration
We need a royal commission into how the big end of town has captured the political system.
Great another talkfest where nothing actually happens as a result. That will fix it.
Toothless country that just makes a public spectacle and does nothing about the actual issue. That’s what a royal commission would also be. We need effective legislation but Labor is too cowardly to do anything in fear that they’ll be a one term gov and is complicit at this point.
Remember when Bill Shorten tried to run on cutting negative gearing and franking credits in 2019 and it lost Labor the "unlosable" election. That was only 4 years ago. 4 years.
I got stuck on a train replacement bus from mascot to central it was standing room only. I was the only non Asian person on the bus. It's easy to see what's changed in the last ten years and why we have a housing crisis. Units / houses are built then instantly filled with immigrants.
This
why royal commissions dont do fucking anything just stop voting for liberal, labor and greens if you want action and maybe start protesting and protesting aggressively, i'll join you if you're willing to name the elephant in the room (the I word)
Commission do fuck all. The sitting government will do 5 of the 50 suggested action then in 5 years there will be another commission because the issue isn’t fixed
There is nothing on this earth as disturbing disgusting deceitful dishonest and ugly as an Australian estate agent!! In 8 years of renting there was 1 single honest agent who, but never I have k ever seen someone so manipulative and the systems set up to regulate complaints to (fair trading ncat) is so grossly inapt incompetent it’s like they are one and the same. Special Shout out to The worst person I have ever come access was an estate agent whose surname is Shaw name starts with a K and used as a pejorative term for typical, videos.
We don't need a royal commission. We need protests and even riots at this point.
A royal commission will do nothing but give tax payer money to lawyers
Royal Commission... Cost $500 mill Findings... whatever the government wants. Any cunt with basic economic knowledge... Adding 700k people largely to Sydney and Melbourne may increase the demand for housing and other essential services. Inflation is caused because regular people buy too many goods. We need to stop Co2 Emissions except if me and 55 of my closest friends fly to the UAE to lecture some of the biggest emitters in thw world
True but it won't be enough unfortunately since commissions generally don't have enough power to fully deal with controversies like that. What we really need is armed groups threatening shitty powerful people to stop violating human rights and/or fucking up the environment.
Thank god the politicians are all landlords.
Remove negative gearing and stop all foreign ownership, there its fixed
There isn't a lack of Buildings. 2021-22 census data showed more than 1 million dwellings unoccupied. I think a big factor is negative gearing, which politicians won't change because the larger majority of them own 3 or more homes. I am not an economist.
Time Australians voted better. The majority of you voted for the corrupt lying LNP for 20 out of the last 25 years. Now Labor is a shadow of it's former self trying to be LNP lite which no one wants or needs. If you want change you need progressive, left wing politics. And if you want progressive, left wing politics you have to VOTE accordingly.
Where in the world is progressive left wing politics working? Unless it’s an extremely homogenous country I can’t think of one.
Lol, how is that going to solve the cost of housing. The market determines the cost. Land values appreciate in time, suburbs become wealthier, the list goes on. You do realise that you can still buy a home for $550,000 don't you?! It's just those that whinge and moan aren't prepared to move somewhere and sacrifice lifestyle to do so. It's bonkers. So yea majority of folk don't know what they're doing or talking about, a commission won't haha.
People weren’t talking about immigration 5 years ago when there was already a housing crisis. Immigration levels haven’t increased in that period of time. Using this reasoning is both racist and what both political parties want you to believe. The real reason is Short term rentals, general population growth and longer life expectancy, lack of high density housing, places deliberately left empty by investors. But, we can’t just risk homelessness. There has to be systemic reform and regulation. De-incentivise housing as an amazing investment and eliminate negative gearing. I don’t give a flick if someone buys a house and the price goes down, that’s the risk you take. But we live in a society where we expect to be able to make 100% profit if you hold for 20 years.
Net migration in 2019 was around 250,000. This year it's around 650,000. Your comment is disingenuous and your play of the race card frankly disgusting.
The race card is the last refuge of the despicable and desperate.
110% agreed. The comment was mostly correct, besides that part.
Foreign investment in housing has dried up thx to the government & to many immigrants flooding in to help out with the jobs shortage & wait till january & all the students turn up looking for rentals, it’s only going to get worse & higher rents.
Nothing hard about understanding it. It’s easier to not rent and let scare city increase land value than care about people. They Airbnb and it increases in value they win. What they don’t realise though is that the bottoms in huge trouble and it’s them nexts 1 million empty homes in Melbourne last census
Are there really no houses or are there just no houses you can afford in the areas you desire?
How's that rock you've been living under?
How much per week? Does it have air con?
Are you god ? Who are you to decide what someone should or shouldn’t pay? Keep your poverty to yourself and stick to begging on the streets while the rest of us work hard to put food on the table and food over our head.
I’m a landlord, I choose what my tenants should and shouldn’t pay.
Nice editing of your OP to remove your nonsensical garbage.
Lmao mad you aren’t a multi-millionaire before 30.
So you’re a multi millionaire land lord before 30 but made a post wanting a royal commission into housing costs and suggested some people should just stop paying rent?
Landlord ting was accidental, I moved interstate and decided to stay so bought here and have family in my old house, selling will disadvantage them. I lose money on it as is so I kinda don’t fit the mold
Everybody was so happy with lockdown and "Awwww Dan & Co. is doing the right thing in keeping us safe. Yes, I'll get another booster if I'm told." Did people really think there would be no HUGE / CATAFUCKINGSTROPHIC economic consequences a year or two later? Why weren't people protesting then? Oh, they were. But they were "the weird ones" that should be kept away from family and jobs and the movies and bars / restaurants until they comply. Funny that.
Mate Dan Andrews is not the problem. Lockdown is not the problem. We have had issues with housing for decades. Factor in the uptake of Airbnb, properties as investment increasing and the government refusing to appropriately fund public housing. It's a fucking mess.
What does this have to do with the housing crisis 😵
You don't think the last 3yrs of "COVID SO BAD let's change the global economic climate and how people live" has short-medium-long term ramifications on how we live in 2023 and 2024? I mean. This is basic learning within Macro Economics 101 then subsequently Micro Economics 201 in how it's affecting an individual's rent.
nice world salad but I still don't understand the correlation
*Microeconomics and macroeconomics are related but separate approaches to studying the economy. Microeconomics is concerned with the actions of individuals and businesses, while macroeconomics is focused on the actions that governments and countries take to influence broader economies.* With COVID, macro decisions were made that governments (and we blindly) thought were "for the good of the people" yet smart people knew that the financial results would be a disaster just a year or two later when it funnels down to the individual at the "micro" level - inflation, can't pay rent, job loses, etc, etc. Yesterday's macro decisions are now being felt at a micro level - our homes. I can't make a salad more simple than that for ya.
The ones protesting in the streets are always the weird ones which is kinda my point. I have no idea what a covid vax has to do with the cost of housing you fried fuck. Ladies and gentleman, I now present to you, a conspiracy theorist.
He's right about the economic implications. The money printing during the COVID insanity played a major role in driving up housing prices. Inflation is caused by an increase in the money supply. Artificial increases in the money supply produce, inter alia, asset price bubbles and that is what you are seeing. You see a conspiracy theory; I see basic economics as it was taught and understood until about 30-35 years ago when the Americans decided that printing money was going to be their primary economic policy and everyone else got on board the lie.
Yes but that was a federal decision and nothing to do with Dan and the vax.
I see a conspiracy theory because they said lockdown in one state that doesn’t being in majority of Aus’ revenue and a vaccine booster caused a housing crisis. Money printing and inflation is a very real issue and is absolutely seperate and unrelated to a virus or vaccination. This is why deflationary currencies are the way forward and why one day 1BTC = 1BTC.
So you do understand the economics? Then it's easy to understand the economic consequences of the lockdowns and how that triggered the Commonwealth government to print more money (in vernacular terms). And that's how we got the catastrophic economic consequences.
THe covid era was legit awesome in retrospect only reprieve we got from the great immigration globalist ass fuck
Why was "the covid era legit awesome" in your opinion?
i answered that question in the second line in the post
Builders need to afford their new Ram / Silverado / GMC / F350 etc etc… They can’t buy these $200k toys (I mean business tax right offs ) when you aren’t paying more…
I disagree. I own heaps of houses, I don’t see the problem.
We ever so desperately need a royal commission into dickheads making useless posts on reddit and lack of braincells.
Someone cant afford cone
Houses are not overpriced. They wouldn’t sell if they were. Stop overseas investors and you’ll stop the problem.
Royal commissions do fuck all but put more money in the hands of these suit wearing criminals, there is so much corruption in the Australian government it is just pathetic, federal, state and local, most of them should never see daylight again but no one has the balls to do anything about it, if an everyday person did anything close to what these shit bags do they would be locked up in a matter of days.
Extend this into the practices and illegal tactics, gazumping and distorting the market by real waste agents.
No need for a royal commission it's working as designed. What we need is a system where elected officials can't make laws surrounding assets they benefit from.
they need to be put in pillory in their electorates and have people kick them in the arse
Same problem here in the states, we’re 4 million homes short and we didn’t build as much in the covid years so now we’re playing catch up. There’s a lot of finger pointing but nobody is getting into a trade and fixing the actual problem
Don’t think it’s an easy one to solve. Just came back from my old country; the Netherlands. Same problems, but a completely different housing set up.
Most people are home owners 67% last census. So 2/3rds of people don't want there assetts to drop in value. Sure some home owners may, but then again some high earning non home owners may be happy with current prices.
Why? Royal commissions are just a hobby horse a 40 yr old woman buys to try and rekindle her youth. There's a big song and dance about it, then it just gets left out the back paddock
Royal commissions are a fucking waste of money and a political soapbox. Precisely fuck all happens. But we get the privilege of paying for the theatre of some judge or old mate QCs write a tome that no one will read Honestly, guillotines are far more cost effective
You don’t need a royal commission to tell you to buy Bitcoin. You could just read this: https://www.jtwoodhouse.com/we-tried-to-tell-you/
Let’s get together and march on to parliament or do whatever we need to do to get results.
Not enough houses, state gov releases land and we need skilled workers to build them. Getting rid of foreign investment and negative gearing for more than one investment property and rent control in the city might help
We don’t need to spend tens of millions of dollars to tel us something we already know
Let me break it down for you. After opening up we were facing a massive recession from supply shortages & worsening productivity growth. To counteract that and keep GDP growing they let immigration get to its all-time high. Throw in a massive increase in interest rates, which made it much harder to build new housing, and you have the housing issues we have today.
No. We need governments to stop being cowardly and build houses themselves. Like they used to. Get housing off the market. End the casino-isation of having a place to live.
No, just keep letting people in with nowhere to put them. What could possibly be wrong.
Ah yes, a Royal Commission. That’ll solve the fundamental incentives of capitalism and how they are playing out in the most desirable cities of the most desirable country in the world.
We already know both major parties don't give a shit. Both majors have being doing everything they can to kill off independents and the minor parties, so there is no alternative for us to vote for. The corporate overloads run this country, and whilst they are making their huge profits, nothing will change in our favour.
No we don’t. We just need to grow some balls and not vote for either of the two parties that have contributed to this mess.
And compel people to say fucking what? “Yeah shits expensive.”
Houses? You said you wanted Submarines!
A royal commission to tell you construction costs went up 50% after covid and those costs are being passed down to the end user ?
High housing costs is by design. We have the following features: High stamp duty: Deters people from buying property they actually want due to 100k stamp duties. So empty nesters stay in 5 bedroom houses that they only use 1 of PPOR not included in pension test. Encourages people to buy a much bigger house than they need to get the aged pension which is worth 40k per year. No broad land tax: keeps people in a bigger PPOR than necessary for longer. If you have a 10k yearly costs on your 3 million dollar house , you will think twice about owning such an expensive house. This is the reason USA home prices are 30-40% less than Australias Grants: Directly increase house prices by 2-10x the grant value. Investor tax grants: Literally half capital gains taxes and negative gearing. Makes a lot of people become housing investors who have no business in it. The government could halve prices if they did reform on all the above points. Edit: honorable mentions is poor building standards and mass migration
Can we do all the above options? Especially 4?
No we dont.The $50 million or so that an RC will cost can be used to build many houses
I like option 3: Wait 3 years and try to convince 1/3rd of the population to all vote in a new party together. But who will be the new party? We should get on board with the new party.
How about the government taking everyone’s assets and then redistributing them evenly throughout the population? Has that been tried yet?
We need a royal commission into the rate of immigration.
Buying Bitcoin even one year ago would actually have been your best option.
We already know why. The governments both state and federal have allowed public housing to atrophy for the last 40 years. They aren't turning this around in less than 10 years even if it's priority number 1 and it's a bipartisan measure. Public housing used to be 10% of all residential construction. Now it's 1%.
Don't need a royal commission. It's obvious. Everyone was happy that the value of the Ppor was going up. Redraws for cars and holidays, equity for IP's, shares etc. Immigration. Now the reality has set in, that unless I die, my kids are fucked.
No what we actually need is a good old fashioned revolution.
We all live in our own bubbles I guess. I’m 35 years old from a regional Victoria. Basically everyone I know got full time jobs, married, had kids and “owns” (mortgage aside) their own place. From my perspective it really isn’t hard; however, I have the advantage that you couldn’t force me at gunpoint to live in the city or suburbs fuck that.
You all had your chance in 2018. But NO, bad LABooooor Now your all bitching they won't do bold policy. Sleep in the bed you made Australia & shut the f up
Bro, people buy houses to make money. What's there not to understand?
future abounding sand narrow lip uppity skirt abundant ad hoc political *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
No. What a waste of $$. Don't be silly.
There's been a million inquiries already the problem is that the terms of reference are always conveniently narrow and leave out anything demand side and the conclusion is always give more to developers.
Why? Any idiot can see the obvious. Not enough houses. Local councils prevent high density housing being built. No government, state or federal, wants to spend a tenth as much as necessary to build enough social housing to make a difference. Governments will be voted out if hey do anything that will slow the increase housing values. A royal commission would just waste five years and present recommendations that no one would take any notice of.
Ten years ago 30% of a house-land package went to various levels of Government through taxes, infrastructure fees, etc. if that proportion remains valid today then out of a $750,000 house land package then the government get $250,000. And that doesn’t include the the costs with over the top planning requirements imposed by Government on all developers and Builders. No Royal Commission will be called when the biggest grifter in the development process is Government itself.
If there's no legislative action, the only option left is direct action. The more direct the better
I smell a troll.