Jonathan O'Brien

I think building setback rules may be the single most perverse idea we’ve adopted in this country — high compliance costs and no benefit whatsoever. You go to any normal old neighborhood and the buildings are flush with the sidewalk and it’s fine.

Britain is a hot country now. But we don't build for the heat. Overheating regulations prioritise passive cooling and treat air conditioning as a last resort. It's not enough any more. Active cooling should be normal in new homes.

An example of this: Despite securing permission to mint the most valuable currency in the planet - 1,200 Manhattan apartments - the *publicly owned* mixed use WTC 5 project has recently been put on hold by the Port Authority as it doesn’t pencil out. This might seem hard to believe: there was only a 30% affordable unit requirement, and the median new build apartment goes for $1.6m in financial district - couldn’t those rich people buying at eye watering prices subsidise the 30% (who would still pay pretty high rents of ~$2k/month)? Turns out the answer is no: construction costs have risen at breakneck speed with the Port Authority citing 50% increases and US-wide construction cost indexes going up 35% from 2021. This price inflation is especially crazy in NYC, but it’s a worldwide phenomenon and governments need to get used to new housing not being a magic money machine.

We have to start treating housing as something we want to be affordable, not just an investment vehicle so reforms that use tax settings to incentivise new housing supply are welcome. But I have concerns about how CGT changes could impact startups and small businesses. I've written to the Treasurer anout this & raised concerns with the Assistant Treasurer. We have a chance to ensure better tax treatment for people investing in Australian startups and help keep those startups in 🇦🇺 as they grow.

If city lose tomorrow, this is going to be the best week of my entire life