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Saul Eslake to contribute to vision for sustainable funding future at CHFV Conference 2011
High profile economist Saul Eslake will feature in the lead session of the CHFV's inaugural conference, helping set the framework for a discussion on the approach required for the sector is to establish sustainable funding streams into the future.
In particular the conference will focus around how the sector can best engage the superannuation and funds management community in realising community housing's potential as a reliable and appealing asset class that can deliver attractive returns while being considered a low risk investment.
Mr. Eslake has run a very public campaign this year in questioning the value of demand-side fiscal initiatives such as the First Home-Owners Grant. While proving an attractive political carrot for voters over decades, the long term failure of this policy to make homes more affordable to people on low incomes has influential economic commentators, including Mr. Eslake, calling for a greater emphasis on supply-side housing initiatives.
"At a structural level, we can turn revenue currently foregone by the Government into funds that can be used to directly address the supply of affordable housing simply through better targeted interventions," says Mr. Eslake, Program Director at the Grattan Institute. "For example, the public sector revenue earned through the abolition of negative gearing - for all types of investment - could be used to build nearly 20,000 affordable homes each year."
While the community housing sector can make a significant contribution to increasing the supply of affordable rental properties throughout Victoria, the conference will be significant in connecting leaders in community housing with the superannuation and private investment community to create a constructive two-way dialogue: For community housing to understand the criteria that needs to be met in order to be considered an attractive asset class, and for the investment sector to understand the capability of community housing organisations and the investment potential is represents.