Fixing the Australian housing market: The focus should be t…

Fixing the Australian housing market: The focus should be this: Aim to get back to the (average house price)/(average wage) multiple of 3 X. The stability of our society depends on it. people think a 50-75% crash in Australian property prices would be a bad thing. The truth is the disaster is happening NOW with the insane prices. The pain is happening NOW. The dislocation. The homelessness. Lives put on hold. The discrimination. Its all happening NOW. The solution IS to let house prices FALL. It is not the problem. The USA had a mini depression in 1920-21. And because the government stepped away from the market it was all over in 2 years, the market cleared and the economy took off again. it's the government intervention, like in the 30's that prolongs the pain. covid proved people are adaptable. stop immigration (make it net 0 – you would also lower Carbon emissions). ban foreign ownership of Australian housing. tax empty houses. abolish negative gearing. double capital gains tax back to 1999 levels, abolish builders boost, abolish family home guarantee (2% deposit!!!), abolish first home owners grant, relax zoning laws. its criminal what's being done to a whole raft of Australian society who are not being given the opportunity of gaining housing security. Another issue is that people aren't being taught economics or are not teaching themselves. Young people are blaming capitalism when we are not in a free market to begin with. After a mini depression where house prices collapsed by 50-75 % (to get back to the house price/average wage multiple of 3), the economy would blast off in a big way. Remember the housing market is MEANT TO BE A MARKET where BUYERS need to be satisfied as well. So with all the housing subsidies removed, the housing market will be a lot lower and the NATURAL CLEARING RATE will be met and overall the needs of the buyers and sellers will be in balance. Also going to net 0 immigration would bring population policy in line with reducing C02 emissions. The overriding aim should be to get back to the average house price/average wage multiple of 3 X.