Politicians are not interested in more affordable housing because it would cost them votes, according to Barefoot Investor’s blunt assessment.
Finance guru Scott Pape, writing in News Corp newspapers on Wednesday, said the hard numbers of electoral calculus and fear of a backlash from homeowners dominated the way politicians treated housing.
‘The fact is that neither Labor nor the Coalition want to do anything that will cause house prices to fall… and become more affordable. Why not?
“Well, think about it from a politician’s point of view: one-third of voters own their own home outright, another third are paying for their home, and the last third rent,” Pape wrote.
‘In other words, the overwhelming majority of voters want to see the value of their homes increase.
“That means politicians need to play a game of legislative limbo and propose pole-dancing real estate policies that don’t really accomplish anything.”
As an example of futile politics, Pape was scathing in his criticism of the Albanian government’s policy. Help to Buy Scheme, which aims to help low-income people who have just a 2 per cent deposit to buy a home.
Pape called this a “silly idea” because “broke people shouldn’t buy houses.”
Barefoot investor Scott Pape says politicians aren’t interested in making housing more affordable because he would lose votes
However, Pape said the biggest losers from the “housing dumpster fire” were not voters but children who grew up without a stable roof over their heads, forced to constantly move schools and absorbing the stress of parents looking for a place to live.
“The long-term trauma of a childhood without a stable roof over your head, of ever-changing schools, and of absorbing the impact of mom or dad being constantly stressed about where they will live, is real and long-lasting,” she explained. .
He believed housing was something politicians could fix, but long ago he “decided that it was better to attract votes to give tax breaks to investors to provide private rentals, rather than build more public housing.”
Meanwhile, Prime Minister Anthony Albanese was forced to reject suggestions he is out of touch with people struggling to find housing after he bought a $4.3 million beachfront mansion.
The Prime Minister is the new owner of a five-bedroom house in Copacabana, just south of Avoca on the New South Wales Central Coast.
Albanese will share the cliffside home with his fiancée Jodie Haydon, whose family lives in the area.
Pape said governments were only interested in playing “legislative limbo” to make it look like they were addressing house prices for fear of backlash from homeowners.
Prime Minister Anthony Albanese has been forced to deny he is out of touch with the struggles of ordinary Australians after purchasing a $4.3 million waterfront mansion.
At a news conference in the southeast Queensland town of Logan, Mr Albanese was asked if he thought his expensive new purchase was a “good look” during the country’s price-driven cost of living crisis. real estate, high interest rates and rents.
‘Jodie and I are getting married. Jodie is a coastal. “She’s a proud Coastie – there are three generations of Haydons on the coast and when your relationship changes, your life changes and you make decisions,” he replied.
‘But what I’m focused on is making sure everyone can have a roof over their heads. I am focused on increasing investment in public housing and social housing.’
‘I also know what it’s like to fight. My mother lived in the only public housing (flat) in which she was born during her 65 years.
“I know what it’s like and that’s why I want to help all Australians get into a home, whether it’s public housing, private rentals or home ownership.”