We have seen quite a lot of hand wringing over housing affordability this week. And there will be more next week if the Reserve Bank, against good sense, puts up interest rates.
Everyone is in on it. Social-welfare do-gooders want cheap housing for the poor; the housing industry wants more construction and more immigration to fuel it; the real estate industry wants more transactions. All have a point.
A two-day conference in Canberra looked at affordability (dreadful word) in the same week that the Demographia International Housing Affordability Survey came out. It was fairly damning of Australia.
It seems bizarre that Australia with low population and high land mass should do so badly.
Continue reading “Forum for Saturday 29 July 2006 housing”