Rate cuts are in the wind and, while they’ll certainly improve housing affordability …
This kind of neoliberal rhetoric is what needs to end. Rate cuts DO NOT increase housing affordability; they do the opposite. They make it easiest for the wealthiest to borrow even more cash, and buy another property, which increases demand, drives ip the price, and ultimately reduces affordability.
It’s the same deal with the “first home buyer” schemes. I have yet to see one that isn’t neoliberal economics, spun to sound like it’s a benefit to the working class, while it just drove up prices at the bottom end of the market, again reducing housing affordability.
The only thing that will stop the cycle is hard limits on the volume of property any individual can own (like 2, MAX), completely banning any company from owning residential property, and a dozen other significant changes that transform the entire concept of housing from being an “investment”, to being for a basic human right, and necessity for both physical and mental health.
Deceptichum@quokk.au 6 months ago
And it will never change, LibLab will ensure that.
If you want a future, vote Greens or any of the leftist parties.
Longmactoppedup@aussie.zone 6 months ago
I reckon it would change when renters start to outnumber owners.
Which is part of the reason for first home buyers grants, stamp duty discounts etc, to funnel more people in to owning. The other being it is a great way to hand tax dollars to established real estate owners.