After last year’s devastating floods, it was made clear that some areas of Australia are unsuitable for housing, which was never more obvious than in the northern rivers region of NSW.
The government proposed a buyback scheme to buy property, so people could leave the area with the capital they had invested in their housing.
It seems like a good idea, but the scheme is already facing some hurdles, not the it seems to be drastically underfunded. A pool of $700 million was set aside to buy an estimated 2000 homes however 8000 people applied.
Typically, the government is dragging its heels, with only 25 home valuations done.
Is that good enough? People are living in wrecked houses and potentially damaging their health through mould infestations.
Does the government need to do more?
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