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How housing illustrates the nature of the multiple crises we face

 

 

By Mike Treen

August 31, 2021 — Links International Journal of Socialist Renewal reposted from Converge — Probably only one number is needed to explain the current housing crisis. Total mortgage lending increased 50% in the year to June 2021 to reach $97,797 million compared to $65,129 million for the June 2020 year. Most of the new lending went to speculators rather than new home buyers. This is all a direct consequence of Government policies that give almost complete free rein to banks to create and allocate debt without almost any control. This has been compounded by the Reserve Bank printing money to buy bonds and drive down interest rates. It offers banks virtually free money to lend to whoever they want.

Hands over the city: Towards an urban nightmare

 

By Dave Holmes

[This is an edited version of a workshop talk given on October 2, 2011, at the World at a Crossroads: Climate Change, Social Change conference in Melbourne. For more material from the conference, click HERE. It first appeared at Dave Holmes' Arguing for Socialism and is posted at Links International Journal of Socialist Renewal with permission. See also Are livable cities just a dream? by Dave Holmes.]

I want to give an overview of the crisis of our cities as I see it. The city I focus on is Melbourne, where I live. But I doubt that the broad situation is much different in the other states.

Modern cities are "free-fire" zones for the corporations. And the situation is getting worse. We can't work out what to do without understanding this basic reality.

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