Key excerpt:
According to the late professor Patrick Troy, here’s how things were viewed in the early 1970s:
“The cost and price of housing continued to be a source of social and political concern. Over the period 1969-1973 the number of years’ average earnings required to buy a house site increased substantially. In Sydney, it increased from 1.7 to 2.7 years, while in Melbourne it grew from 1.2 to 1.8 years.”
Compare that to what modern researchers have to say about Australia in 2023:
“Since 2001, the national ratio of median house price to median income has almost doubled to 8.5, and the time required for the accumulation of a deposit for a typical property has increased from six years median earnings in 1994 to 14 years currently.”
Sometimes I think the Tarpies out in Western QLD have the right idea. Buy cheap land, build a shack on it. Everyone stays away because you develop a reputation. Property prices stay low.
Property prices are low? That means taxes are low.
Tying property tax to hypothetical property value is BULLSHIT.
I can accept a tax on land, use it or lose it, yknow but that value should be established at the time of sale - only. And suspended once one becomes infirm and is just living out their days.
If I buy an undeveloped lot, suffer thru the lack of amenities and pioneer my way thru the ages into modernity (rain collection, solar, etc) likely taking all my free time building it out, why the fuck should I pay anyone for the “right” to keep it?
Seriously, if I increase the property ‘value’ I should benefit from that, not be extorted by my community, state or federal government. If the options pay this imaginary number on this imaginary value of your stuff or we’ll take it from you, under threat of violence, that the taxes unironically fund, that is textbook extortion and you’re placed in a position of duress. I’d argue that the side bringing the violence (in this case the gov) is whole handily responsible for whatever outcome arises.
I built it, its mine by natural right. You got the natural right to try and take it and I got a natural right to answer that in kind. Violence begins violence, how is this not understood universally by pre-k?