Feb 6, 2022Liked by Cameron Murray

As an ex banker I think this is a great idea. Further consideration to counter existing market issues: Would there be some criteria around residency status and usage? Ie properties must be occupied. Not bought and held. Australian Residents only.

How do you control who occupies or not? Implement use of smart metres in properties to ascertain average usage of facilities. Water, power etc.

Is 7 years too long? Maybe reduce to 3 or 5 years. Or build in an incentive to stay. The penalty could be increased and a sliding scale attached. Consider a one bedroom apartment and within 7 years, 7 children!

Beware unintended consequences of a lock in contract.

Conversely could you build in an incentive to only sell to a specified candidate? I.e. the govt could take a cut of the sale or surrender it if sold to an under 34 FHB.

There could be a wait list, like Housing Dept, for people wanting to purchase. This would be after your initial lottery. Alternatively, you could have part lottery and part waiting list, by date order.

So many options, so much opportunity.

Good luck, I think it's the best thing we've seen in a long time that can help our young people and doesn't benefit the pockets of the developers. NO GRANTS!

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You know Cameron, you have quickly become one of my favorite Economists, alongside Bill Mitchell & Stephanie Kelton.

Also, what about (for electoral popularity reasons), the Govt "building homes free to the tax payer", by the tenant's rent covering the cost, or sold at cost price?

Or perhaps a combination of Govt Insurance for landlords and an Empty Housing Tax? The former would be because some Housing is apparently off the market because of a failure of Private Insurance to do their own job; & the latter is to get empty homes on the market.

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This is a great idea. But I would like to know, Cameron, what you think about using what I call "When we're Dead Laws" to get this into policy one day? That means politicians or Voters voting on policies that only come into effect in 25 years, when their own selfish interest is no longer conflicting with Public Interest? Couldn't this be how to get pro-Housing policies in, even though currently the majority may not want to solve the Housing Crisis (hard to know exactly what percentage of Australians do & don't want a Housing Crisis).

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2 to 3 bedroom apartments in high rise. A good option for Melbourne, Sydney and Brisbane.

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A proposal worth considering by any sitting govt in Australia. I am glad that you have looked further ashore and considered what has worked for housing in Singapore. Has the Liberal or Labor party entertained your research. Look at how London has implemented a system like the electronic road pricing in Singapore that has addressed traffic in the CBD. Yes, Singapore is just a dot in the map and its public servants from Lee Kuan Yew's era have developed brilliant ideas. To the Australian government, I say look into it and see how it can be adapted to address the escalating housing prices in Australia that have prevented the younger generation from entering the property market in Sydney and Melbourne, in particular. The problem is only when there is an election is the housing shortage given a serious look and used as a tool to win votes.

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A superb proposal, we just need people to get on board. Show your support and spread the word here: https://me.getup.org.au/petitions/affordable-housing-now-via-housemate

and here: https://epetitions.act.gov.au/CurrentEPetition.aspx?PetId=214&lIndex=-1

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