"What he's trying to say is the government wipes its hands of the housing affordability issue."
I am not surprised by this at all, I don't have an expectation of property falling, It will likely continue to rise based on trend, but some fundamentals are concerning.
Either way we will pay, if affordability worsens, the divide between rich and poor widens, crime increases, and negative social consequences amplify. The fabric of Australian society will change and we will socially mirror countries that have a huge divide between rich and poor, with more distinct social classes based primarily on wealth. If affordability improves it will be as a result of wealth distribution/destruction.
I am on the sidelines and watch with a keen academic interest.
I will not bet against the property market, nor will I add my cash to an asset class that has less upside than others.
There are plenty are other undervalued assets to purchase in the meantime. I will let other people take the big bets on property.
