Greens Propose 360K Affordable Homes, End to Investor Tax Breaks
March 5, 2024
The Greens propose constructing 360,000 affordable homes over a 5-year span, enhancing housing accessibility.
Funding for the initiative would come from eliminating $27 billion in property investor tax breaks.
A new federal housing department would be established to emulate successful international housing models.
A public property developer, under government investment, would manage the housing mix of 70% rental and 30% ownership.
Rent prices would be capped at 25% of the national average household income, ensuring affordability.
Homeownership options would allow sales only back to the government, maintaining cost control with inflation consideration.
This housing plan is poised to be a significant factor in the forthcoming election negotiations.
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