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A senior economist says the 2024 budget will do little, if anything, to address housing issues in Australia.
Prospective homebuyers grapple with record home prices and higher mortgage rates.
The minister says the ‘volume is disconcerting.’
‘Government has a role in building houses to help remedy the housing shortage, but it’s housing affordability that is a potential disruptor for our business.’
Housing economists debate if affordability will improve in 2024.
‘The crisis is not merely one of numbers but of societal values, as the housing market becomes a fortress for the rich,’ said a report by Suburbtrends.
An economist said the supply of immigration has long exceeded the demand for it.
A newfound Greens policy aimed at suppressing rental prices.
The method has been criticised as “hideously cruel” and ineffective.
Administration officials claim the strategy will address housing shortages and revitalize downtown areas.
It’s the highest annual income needed to afford a home on record.
