Advertisement
Melbourne Lord Mayor and vocal mass immigration supporter, Nick Reece, reckons he has the solution to Melbourne’s rental crisis: converting empty office buildings into apartments.
It is an idea that is as old as the hills and Reece wants to throw a pile of taxpayer subsidies at the solution to make said conversions “irresistible for developers”:
“This is a trillion dollar economic challenge for us, for the Australian property sector and the broader economy”, Reece said.
The full text of this article is available to MacroBusiness subscribers
Cancel at any time through our billing provider, Stripe
About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
Advertisement