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“Obvious” affordability solution ignored: REINSW

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Australian Broker | 16 Jan 2017, 08:00 AM Agree 0
The president-elect of the Real Estate Institute has slammed the government for refusing to tackle affordability in the proper way
  • Patrick McMenamin | 16 Jan 2017, 08:46 AM Agree 0
    I agree that ad valorem stamp duty should be replaced with a broad based annual land tax, however there is an even more obvious solution. I have relatives in the US and have lived in what is called a mobile home. These are not caravans but are simply a quite good quality "project home" factory built off site and relocatable. Most people locate in a "park" which is a fully serviced suburb where the sites are rented and the relocatable home owned. This is actually of course shared equity in a viable manner, not like some of the attempts to create such a loan product here. Mobile Home Parks would be a great investment for institutional superannuation funds and/or unlisted property trusts. The relocatable homes would probably sell in Australia at around $250,000.
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