AlboGreens syndrome triggers housing meltdown

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Ah, yes, the AlboGreens. Those of the fake left are so focussed on cultural trivia that they’re happy to conduct a nuclear class war on all vulnerable Australians via reckless population growth.

As we know, the AlboGreens homelessness boom is in full swing:

The housing crisis and rising financial stress are pushing more than 1,600 people into homelessness each month as demand for sheltering services soars, a report has found.

The AlboGreens rent shock is in full swing:

CoreLogic has released its monthly chart pack, which shows that annual national rental growth eased slightly to 9.4%; although it remains at a turbo-charged 11.3% across the combined capital cities:

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Annual change in rents

The AlboGreens public un-construction is in full swing:

Public housing share of construction

The AlboGreens wait lists are exploding:

“New South Wales’s priority social housing waitlist has doubled in less than a decade and surged by 1,000 to 7,573 over the past year, as wait times continue to rise across the state”.

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“New data from the Department of Communities and Justice, to be released on Friday, will reveal the extent of a crisis that the housing minister, Rose Jackson, has conceded is “desperate” and “confronting””.

The AlboGreens crash in private sector building is well underway:

Dwelling approvals

As the RBA’s Phil Lowe reserved his parting words for the AlboGreens:

“This year the population has increased by 2.5%. The number of dwellings in the country has increased by 1.5%. So there’s a big gap there.”

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He says there are no short-term solutions. Capping rents, as has been suggested by the Greens, would make the problem worse.

“In most cases, rent controls reduce incentives to add to supply.”

As the AlboGreens squabble over non-solutions to their own crisis, they pretend to care by building 6k dwellings per annum versus the 250k needed to prevent it from getting worse:

The Albanese government will put its $10 billion Housing Affordability Future Fund to the Senate for a vote this week, with or without the support of the Greens, in a first step towards creating a trigger for an early, double dissolution election.

It would be hilarious how economically destructive the AlboGreens are to their voter base if it were not so catastrophic for a generation of economically vulnerable children.

About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.