Unspoken alternatives to expensive housing

Secure, affordable housing is a worthy policy objective. Unfortunately, many affordable housing policies are ineffective because they allow monopolist landholders to capture the value of subsidies for themselves. If Australian governments want to enact policies to make housing cheaper for residents, they should focus on housing options that provide residents access to housing without having to pay the monopoly market price. Option 1: The ACT’s Land Rent Scheme (LRS) is a publicly-run housing system that ensures residents get a discount on the market price of land, while providing secure long-term tenure, just as with private ownership. Option 2: Community Land Trusts (CLTs) are a privately-run housing scheme that provide secure long-term housing at below market prices. The CLT is an incorporated entity, much like a ‘land body corporate’, that inserts a layer of control over property ownership for land and dwellings within the trust.