Cost of living issues caused by the federal government.
1. Lack of real estate development. Real estate is monopolized by the private sector who wants to make $100k plus profit per housing block. The government should be buying up rural property and creating housing blocks, not private industry who exploit the market and cause hyper inflation of housing. Homes could still be built by private industry but real estate developments managed by the government.
2. The cost of living and inflation has been caused by low interest rates. The government caused real estate inflation that has been funded by a high level of debt, This is restricting disposable income to crisis levels. 3. Low return on investment low interest rates Retirees have low return on investment which will require higher tax in a recession as the economy has less disposable income. This will eventually eat up retiree savings and force them onto public benefits.
4. Lack of wage growth. In the 90s when i was out of school i earned $15 hour as a casual office cleaner, today with inflation that would be $40 hour its more like $27 hour. Teachers receive $35 hour, kitchen hand $22 hour,
Solution 1. The government start developing outer city real estate ($30 billion) . 250,000 housing blocks nationally. 2. The government raise interest rates and let the real estate market crash. 3. Raise wages to a minimum hourly rate of $30
