Would a rent freeze help?
The Greens are calling for a national rent freeze to allow incomes to catch up to rent increases.
They also want rent increases capped at 2 per cent every 24 months.
Australian rent increases have averaged around 10 per cent in the past year.
While I applaud their initiatives, in reality will incomes ever catch up? If you are working, when was the last time you had a pay increase? And for those on fixed incomes such as a pension, the idea that payments will ever meet the cost of living is laughable.
The problem of affordable housing in Australia is complex and probably requires decades-long policy and reform, but would a rent freeze help you?
With rising interest rates and such low vacancy rates can't see a simple solution.
Rental markets are the tightest on record
My son told me his small street was filled with cars last Saturday ... the reason ... a house for rent open day.
Would a rent freeze help ??? Certainly not for Mum and Dad investors who own an investment unit, in an attempt to support themselves in retirement. You must realise, that without the people who own and supply units for rent, there would be massively more people with nowhere to live. Most of the unit owners have taken out loans to supply this service to others and are paying off large mortgages. If you can't afford the unit you live in you have two options, get a second job of which there are plenty at the moment, or move to something more suitable for your finances. If you can't afford to live in a major city, move somewhere more financially suitable. Once again, another inane and radical suggestions by the Greens, who are generally off with the fairies in the trees. Jacka. P.S. FYI. I have never owned an investment property unfortunately and presently am finding it a little difficult to keep up to date with the day to day expenses pertaining to my unit, which I do know.