You can tell an election is close as both major parties have launched their campaigns formally, with Dutton in Western Sydney and Albo in Perth. Recognising that costs of living and housing specifically are haunting younger voters, who now comprise the bulk of voters for the first time, housing was at the heart of both campaigns. Both parties launched proposals aimed at tackling the housing market, which of course has become more unaffordable for many, as a result of a generation of bad policy.
But I give them both a major fail as both sides presented a fig leaf that their policies will increase the supply of homes.
Yet again, politicians are dealing with the symptoms of high house prices, not the root causes.
And also remember one third of households are renting, and three quarters are in rental stress, how does any of this help them? Cut migration, cut red tape and step back from further financialisaton of the property market, by reducing tax breaks. Its not that hard, but politically, seeing home prices fall is not a winner either, which is what we really need to escape the housing affordability death trap.
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