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Australia’s Housing “Partnerships”: Who Really Benefits? Australia is facing a housing crisis. Rents are up, home ownership is sliding, and Albanese’s government promised 1.2 million homes by 2029 under the $32 billion Homes for Australia plan. But here’s where it gets strange: suddenly, India and the UAE are at the table to build one million homes here, in a deal valued at half a trillion US dollars. ⸻ How Did This Come About? • India’s Commerce Minister Piyush Goyal recently revealed that India is in advanced talks with Australia about constructing these homes — and the UAE would finance the project. • On paper, it sounds like “international cooperation.” In reality, it raises more questions than answers: • Why outsource construction when Australia already has builders? • Why should Indian developers or overseas financiers profit from our housing crisis? ⸻ Why Is It Coming About? • Australia’s domestic building sector is under pressure. Costs are soaring, approvals are slowing, and local companies are stretched. • Instead of directly boosting Australian capacity, the government is entertaining foreign-led projects. • Is this really about “help” — or about shifting ownership of our housing pipeline offshore? ⸻ What Are We Paying India? • The proposal is tagged at $500 billion USD. • That’s ~$70 billion per year if spread over seven years. • But here’s the kicker: no clear breakdown has been given of how much flows to Indian firms, how much to UAE banks, or how much stays in Australia. • So far, it looks more like an export of Australian dollars overseas, with little clarity on what Australia gets back. ⸻ Migration Angle • Australia’s housing crisis isn’t just about supply — it’s about demand. • Net overseas migration is running at ~500,000 people a year (2022–23 peak), heavily from India and other South Asian nations. • So, while India is “helping build” homes, India is also sending many of the new residents who’ll need them. • It’s a circular system: more arrivals = more demand = more justification for foreign builders. ⸻ Metricon: Who Owns Our Builders? • Metricon, Australia’s largest home builder, was founded in 1976 by Mario Biasin and George Kline. • Biasin (Italian-Australian) died in 2022, Kline passed in 2018. • In late 2024, Japan’s Sumitomo Forestry Group bought a 51% majority stake in Metricon. • That means the “local” company building so many Australian homes is now effectively foreign-owned. ⸻ The Bigger Picture • India wants to build our homes. • The UAE wants to finance them. • Japan now owns Australia’s biggest homebuilder. • And ordinary Australians are left wondering: who actually owns the roof over our heads anymore? ⸻ 🔥 Summary Question for Australians: We’re told these deals are about fixing a housing shortage. But if billions are leaving the country, if migration continues at record levels, and if foreign corporations own the building industry — then how much of this is really about housing Australians, and how much is about turning our housing market into a foreign investment machine?
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