Australia’s biggest bank is suggesting people should team up together to buy property to relieve the affordability problem, and they offer a particular structure to do this. However, the risks of this approach are considerable – even worse than using the Bank of Mum and Dad, and their justification is tenuous give the small survey they are basing their releases on. A classic example of buyer should beware.
Housing affordability is a structural issue created by 30 years of bad policy. The approach of encouraging more people to borrow, despite the risks is concerning, and it does nothing to tackle the real underlying issues.
Personally I think it is irresponsible!
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