Reshaping Cities, Including the Housing Problem

[stylofone]

I just looked at the specs for that Bondi Beach apartment. No balcony, it's like a prison cell! Also, units like that have been selling for insane prices for many years. What's the next level up from insane? I don't have a word for it. I lived in a normal sized apartment with no verandah or courtyard for six months. It had two bedrooms and it was on the ground floor but I still hated it.

Because of the traffic madness caused by the new motorway, I've been contemplating the Sydney nightmare recently. I have to go back there for a medical appointment in two weeks, only my second visit since leaving nearly three years ago.

[stevebrooks]

I just looked at the specs for that Bondi Beach apartment. No balcony, it's like a prison cell! Also, units like that have been selling for insane prices for many years. What's the next level up from insane? I don't have a word for it. I lived in a normal sized apartment with no verandah or courtyard for six months. It had two bedrooms and it was on the ground floor but I still hated it.

Because of the traffic madness caused by the new motorway, I've been contemplating the Sydney nightmare recently. I have to go back there for a medical appointment in two weeks, only my second visit since leaving nearly three years ago.

Yep, that's basically one of those japanese sleeping cubbies with a bathroom and kitchen, it should be cheap and basic housing for the unemployed, but because of where it is the unemployed get to sleep on the street while a fully employed hard working couple struggle to pay the rent on a shoebox!

[stevebrooks]

Wow, just wow!

Melbourne journalist Jacqueline Felgate shared a text message sent from Nelson Alexander real estate to interested parties informing them that one property - initially advertised for $600 a week - would now cost $650 a week due to “overwhelming response”.

They increased the rent not because it was below market rate, but because they had a lot of people looking at it? This is apparently not illegal, should it be? I mean if they still have a lot of interest at $650 a week will it be $700 a week next week?

“Whilst the current issue at hand is not a breach of legislation, it fell short of our commitment to fair and transparent practices and we have taken immediate steps to clarify the situation.

“For clarity, we do not solicit or encourage any form of rental bidding and we have taken the property off-line and are currently reviewing our processes to ensure this doesn’t ever happen again.”

It's more than likely the owner saw the amount of interest and demanded the rent be increased because, obviously he could make a killing gouging the suckers for more rent money than it's worth. Which if course is part of the problem with rental housing, with no competition is the money it's worth basically determined by what people are willing to pay? Should that be the way rental accommodation prices are determined? I mean it's literally just price gouging, if there was a water shortage and shops tripled the cost of bottled water not because it cost them more but because people desperately need it then there would be an outcry, demands of government regulation and fines and prosecution for price gouging shops, why not for price gouging rental properly owners also?

https://www.news.com.au/finance/money/c ... 0f47b27441

[stylofone]

I mean it's literally just price gouging, if there was a water shortage and shops tripled the cost of bottled water not because it cost them more but because people desperately need it then there would be an outcry, demands of government regulation and fines and prosecution for price gouging shops, why not for price gouging rental properly owners also?

"Real estate" is a weird term anyway. Real as opposed to what? Imaginary estate? They should just call it the Evil industry or something like that.