29 July 2024
“Earlier this year, I went on a study tour of European housing co-operative sectors, which provides first-class, affordable, secure housing. We saw how the “mum and dads” investing in things like property trusts, which then fund the co-ops, could get as good a return as directly buying real estate, without the hassle of dealing with agents, tenants and maintenance. When they want their money back from the fund, no home is sold and no tenant kicked out. We could and should shift investment from private market rental to mixed-income affordable rental co-ops. Housing Australia, housing co-op resourcing agencies and member-owned banks across Australia are in place to make this transition now, it just requires leadership from governments to make it happen, and voters to recognise it serves their interests as well.”
Donald Proctor
Sydney Morning Herald letters, 29 July 2024
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