In Australia, the rental housing market is under immense pressure due to rising rents and long waiting times for social housing. As a solution, the federal government has proposed the Housing Australia Future Fund (HAFF), which has been criticized as flawed and imprudent. The plan involves the government raising $10bn in debt, with the Future Fund investing the funds, and the net returns being used to invest in social and affordable housing each year. However, the numbers are modest and inadequate to address the current crisis, with at least a quarter of a million new homes needed to accommodate the population growth. Furthermore, the plan is too small to have any significant impact, and the government is also opening the floodgates for even more migrants to come into the country, exacerbating the housing crisis.
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