Read on Twitter
THREAD: Someone has done a worse job than you.
We all fail to touch the skies on some things. That's human. Because it's Friday I can share an epic policy failure that imperils the roof-over-the-head of millions and could have been avoided. (But we blew it).
We all fail to touch the skies on some things. That's human. Because it's Friday I can share an epic policy failure that imperils the roof-over-the-head of millions and could have been avoided. (But we blew it).
In March, #COVID_19 crashed incomes and threatened to slam the rental market that houses 1-in-3 Australians. Income support, "pausing" repayments on mortgages and a ban on evictions propped up the system and bought all the players six months to work out a comprehensive solution..
But we blew it. Now, the support is being wound back or ended, almost at the same time. In weeks, we will find out what it means for tenants who can't pay, the landlords who can't pay mortgages or the housing market that has left millions in such a precarious position.
"I can't see a solution," says Tenants Victoria chief executive Jennifer Beveridge. "Can you?". Her org's research found rent reductions were rare, "hard won" and many tenants were forced to settle for a deferral (FUTURE DEBT) instead of a reduction. https://www.abc.net.au/news/2020-08-18/tenants-struggle-to-get-coronavirus-rent-reductions/12569398
"We've hoped the solution would emerge. It hasn't," Ms Beveridge said. "Maybe the problem is so big and complex we're just going to find a bigger hole at the end of it." (Because of Vic's 'second wave', it's extended rental protections to March - everywhere else is up in weeks)
Fiona Hallam is in that hole: unemployed and running out of $$$. "We don't know whether we were going to be homeless, we didn't know if we were going to have some way to eat because we're paying all this money in rent and we have no income," she said.
The PM implored landlords and tenants to negotiate but didn't force them to. It didn't answer the key problem, as
Mrs Hallam found: "They basically just said no... There was no dialogue, they wouldn't have a discussion with us why they wouldn't offer that [rent reduction]."
Mrs Hallam found: "They basically just said no... There was no dialogue, they wouldn't have a discussion with us why they wouldn't offer that [rent reduction]."
8-million Australians rent their homes, mainly from 2.2-million landlords who generally own 1 or 2 investment properties. Many landlords lost jobs or other income, so they're unable to afford to offer tenants lower rent and still meet their mortgages as well as costs like rates.
It's a reason why Antonia Mercorella, chief executive of the Real Estate Institute of Queensland (REIQ), welcomes the expiry of the six-month eviction ban.
"I think it is time... + I believe that most tenants will be ready to transition back to normal residential tenancies laws"
"I think it is time... + I believe that most tenants will be ready to transition back to normal residential tenancies laws"
"Many landlords out there feel like they are the forgotten ones," Ms Mercorella added. "There are many property owners out there who have also been impacted by COVID and they are very much feeling the consequences... some property owners are in extreme financial distress."
With twin supports — mortgage pausing and the eviction ban — being unwound at the same time, there will be pain. "I'd describe the impending situation as a road crash waiting to happen," Pr. Nicole Gurran @Sydney_Uni
"It's something that we can absolutely avoid, though."
"It's something that we can absolutely avoid, though."
So we had time to find a solution. Six months. And governments, banks, landlords and renters blew it. Now individuals will have to negotiate, when both are in dire straits. An #epicfail, with huge consequences to come.
I know, pretty depressing right? Here's the full article. https://www.abc.net.au/news/2020-09-04/covid-19-eviction-bans-end-8-million-renters-housing-crisis-loom/12626422?section=business
If you need a lift, the latest season of #Rosehaven is DELIGHTFUL (as is the whole thing). Totally biased because my wife worked on it, but it is the #iso viewing you need. https://iview.abc.net.au/show/rosehaven
And here's my favourite song at the moment. Pump it up and feel better about failure! Some loose ends don't get tied up.
