Right out of agenda 30, you will have nothing but you will be happy! This is a rotten thing to do. The rich will snap these properties up and the workers will be unable to afford these houses. But that’s the idea! Look at the prices in Sydney, what twenty somethings can afford this? Work yourself into the grave for a house or you lose your job through no fault of your own and bam you lose the house. I have known people this has happened to in the 80’s.
When I got married interest rates were 18.5% ( that was my mortgage payment) and house and land prices were going through the roof overnight. I had to buy out in a rural area with an hour drive each way to work and then with two babies every day. My husband was very ill then too so we sold our brand new, small house; to be near a hospital. Eventually leaving Sydney as it is hardly a suitable place to bring up children.
Now young people today are struggling even more than thirty years ago because the prices are over inflated and they can’t raise the deposits for a house. So guess who buys these retirees houses? Yup property developers, banks and very rich people, not the average working class young couples.
But hey it’s all about business not human beings. If the government actually cared they would have rained this in years ago. But politicians always have their noses in the trough or is that the sewer, like the rats they are.