Credit: Matt Golding
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Never had it so good
Why do Baby Boomers (as I am) bang on about having to pay 18 per cent interest rates in the 1970s, as if it were an unbelievable burden? Do they forget inflation was running at about the same level, and that those interest rates were accompanied by annual wage rises of the same magnitude?
The result was that increased wages resulted in an increased ability to service the mortgages, the size of the mortgage diminished as a proportion of wages, inflation caused the cost of homes to rise and so equity in the home increased. The increased wages allowed loans to be paid off earlier, and housing construction was in equilibrium with housing demand so as not to artificially raise prices.
The 1970s was a glorious time to be in the housing market, and nothing like the burden young aspiring house buyers have today. That’s how Baby Boomers were able to afford investment properties, notwithstanding negative gearing and the introduction of capital gains tax.
Graham Bridge, Morwell
Grasp nettle on housing
When will politicians realise that increasing housing demand, by whatever means, without increasing supply will only lead to increasing prices? What is needed is a rise in overall supply, not just by private enterprise, but by government intervention creating a modern-day equivalent of the former Housing Commission of Victoria.
Such a body would supply basic housing for those least able to afford it, including the vast number of immigrants and political refugees arriving on our shores. Policies such as shared equity only increase demand while build to rent will only benefit property developers.
As a retired estate agent with more than 50 years’ experience in the industry, I have watched federal and state governments offer a variety of incentives to first home buyers. In every instance the benefit to buyers has been brief, followed by substantial price rises putting home ownership further out of reach of our most important generation. Unless policymakers grasp the nettle and implement realistic plans to support genuine public housing then any efforts to improve the current shortage of affordable housing will be doomed to failure.
I wrote in a similar vein to The Age about 35 years ago; it seems that history is destined to repeat itself.
Adrian Jones, Mount Eliza
Easier rates already here
Age senior economics correspondent Shane Wright has put the case as to why the RBA might have to cut official interest rates heavily, which the Federal Reserve has just done (″US cuts rates, all eyes now on RBA″, 20/9).
They will not. For the simple reason that, compared to the Federal Reserve, the RBA have been relatively gentle in their rate settings in the past several years.
At the end of the pandemic the official interest rate in the US was 0.25 per cent. The Federal Reserve hiked it 525 basis points to 5.5 per cent. In Australia, the official interest rate was 0.1 per cent in early 2022. The RBA hiked the rate 425 basis points to 4.35 per cent.
So, if you are wishing for easier interest rates, you already have them.
Alun Breward, Malvern East
Residents on the outer
So, lord mayoral candidates are proposing that we inner-city residents, already well-serviced by public transport, are to be further privileged by extending the free tram zone (″Push to extend free tram rides″, 21/9).
If I lived in the outer suburbs or the regions, where public transport is either inadequate or non-existent, I’d be most unhappy about seeing my taxes subsidising such a plan.
Jan Lacey, North Melbourne
Mobility by scooter
There certainly is a solution to the short trip problem raised by your correspondent (Letters, 20/9). Many elderly people I have known, including my late mother-in-law, bought battery-operated mobility scooters, which are ideal for short local trips, using footpaths rather than roads. My mother-in-law called hers a Gofer, and she loved it so much that she wrote a piece about it which was published in a magazine.
There is a huge range of such scooters on the market. Most have some kind of basket for shopping, library books and such. Some have hoods for protection from rain and sun. One couple I know have set up a system for getting the husband’s mobility scooter in and out of the back of their car, so it can even be taken with them when they go on trips away from home.
This is an excellent option for elderly people who can no longer drive safely on the roads.
Julia Blunden, Ashburton
Private sorry no good
When you make public statements maligning an ethnic community, a private apology to one member, no matter how senior, doesn’t pass the pub test. Surely, a public apology to the whole community is required.
Gill Riley, Doncaster East
How to measure attack?
It was clearly a brilliantly executed plan to disrupt Hezbollah’s operations by Israel. Was it worth it? The numbers killed and injured are insignificant compared to the numbers of operatives at Hezbollah’s command.
Undoubtedly, the attack would have embarrassed the leadership, but at the same time it proved that the use of pagers and radios were effective enough in restricting external access to the group’s operations that the need for the attack was necessary.
Now all that Hezbollah has to do is check all remaining pagers and radios and source future ones from random suppliers and they are back in business.
Robert Burns, St Kilda
This is clever?
We appear to reached a point where a method of killing, and its users, are actually lauded for being so clever and the deaths caused are rationalised by saying that not all the victims were innocent.
Mark Morrison, Kew
This was terrorism
I was shocked to read columnist Rodger Shanahan (Comment, 20/9) describe an attack that killed children and injured innocent others as an ″astounding success″ and ″brilliant in its execution″. How could he label the ″sheer randomness of victims″ as merely a psychological strategy – as if it were all just a game of wits – when in other conflicts such an indifferent mode of targeting would be described as a hallmark of terrorism?
Rowan McNaught, Brunswick
Appeal to humanity
What a powerful appeal to our shared humanity by Louise Adler (Comment, 21/9). This she achieves, against the backdrop of her personal journey, by raising questions – some awkward, some fraught, and some suppressed in the Jewish world. Yet some so obvious but neglected in our public discourse on Israel. Our national decision-makers must read it, and reflect.
Ken Blackman, Inverloch
The heat is on
The UN has issued a stark warning about climate change and extreme heat following 12 consecutive months of record-breaking temperatures.
Joan McColl, Drouin
Doing best for kids
My wife and I were educated at private schools. We met while teaching in the state system. I stayed committed to that system for 36 years as I could not only see the inequity, I had lived it.
There were rough and tough years in pretty poor classrooms, teaching some very undernourished (in more ways than one) students.
I chose to champion the state system for all those who couldn’t afford the private system. After experiencing one son being lost in the mire that was his state primary school, we educated our sons in the private system. In the end, you do what you think is best for your children. It in no way diminished my commitment to state education, in fact it reinforced it.
We sacrificed a lot to give our sons the best we could afford.
Isn’t that what most people do?
Frank Flynn, Cape Paterson
Gambling percentages
Australian rugby league chief Peter V’landys (″AFL, NRL in final push to torpedo gambling ad ban″, 21/9) seems to believe less than 1per cent of Australians who will have a gambling problem is a reasonable price to pay to ensure we have adequately funded local sport. I beg to differ.
David Brophy, Beaumaris
Just ban it
The AFL, NRL and community sport will survive even if there is a ban on gambling advertising. For maximum community benefit, just ban it.
Jenny Macmillan,
Clifton Hill