The rents on them are indexed so a pittance really. Not the best of houses but a roof over your head and better than being homeless. Some of them are interspersed in normal houses so you would never know. There are some horror areas yes, with estates but there are some really pretty streets of them too in really really good suburbs.
Its a bit sad and a pet peeve of mine... they are supposed to be "emergency housing" for when things are tough for people... but alot of people just never move out of them even when they get on their feet.
Some poor old dear made headlines here a few months ago. The commission wanted to move her and her husband out of her three bedroom house and into a two bedroom unit (flat) since their kids had well and truly grown up and moved out and these two dears were financially fine. She went to the press and made a furore about "I have lived here for 30 years and they want to uproot me. George is settled and I need the spare bedroom for the grandkids when they come and I wouldnt stay sane without my sewing room."
NO... You need to move out and let some poor homeless family of children have your damned sewing room so they can have a roof over their head that isnt a car roof.
They let her keep it. Poor love.
Its not that we have been affected with the GFC as much as other countries either. Far from it. It was the property boom that did this. The prices went up in some cases by 300% and so did the rents. The government rammed the interest rates down to save people NOT losing their houses and gave massive first home buyer free money incentives to keep the market booming, so thats not the problem. Its just that new home buyers now cant afford homes now that the first home buyers incentive is over, so they rent which drives the rents up more.
Maybe I am still in a bit of shock. I am not freaking out... though I suspect thats deep down boiling away. I mean... WHAT ELSE CAN HAPPEN HUH?



