Dear Editor Your article Home ownership now 'unachievable'

Note the same can apply with New Zealand

Dear Editor

Your article Home ownership now 'unachievable'

at- http://www.theaustralian.com.au/national-affairs/state-politics/home-wnership-now-unachievable/story-e6frgczx-1226130919991 describes the problem.

I was a self-made millionaire property developer by age 25- so now I am 50 I have some experience.

Here is a simple solution:-

Government zone land which they sub-divide- plus create the infrastructure and community planning all ready for home buyers at affordable rates- 550 sq mts of land could retail for $50,000 max- govt bulk negotiate new homes at $110k each- all aimed at people who don't currently own or can afford a new home- caveat the title to stop speculation- easy as 1-2-3- .

Government could even bulk negotiate low interest mortgages or even provide them through government bonds- say 3%.

So a family get a new home ready to move into at say $160000 with a loan rate of say 3%-  

Auto loan amount: $  
Auto loan term:   years or    months 
Interest rate:   % per year 
Monthly auto loan payments:$
$887 a month is $204 per week. That would make Aussie families smile and give the economy a huge boost.

I would encourage you to do an article with serious attention focused on local and central government red tape and the controls on land supply.

Regards

Christopher Wingate

Perth

0415 507051