Australia has some of the Highest House Prices in the World,
And When Wages, Opportunity, and Cost of Living are taken into account would be close to, if not the worst.
If the Gov is serious about Housing Affordability,
It would IMMEDIATELY:
Ban Foreign "Investment", (also known as blatant price manipulation, as all intelligent countries have)
End Negative Gearing.
End so called "Skilled Migration",(a fancy name for slave labour)
The RBA also needs to be looked at for it's role in this,
And their needs to be an investigation into why Interest Rates were kept too low for too long.
It was irresponsible of the RBA to do this,
And it will cause severe financial hardship to many.
Many of which will lose their Homes.
The fact that the RBA did not understand that they needed to lift Interest rates Earlier,
Means they do not have a clue what they are doing,
And those responsible should be replaced IMMEDIATELY !!!!
Why does Australia allow such Falsely Inflated House Valuations?
Why have they propped up House Prices for so long?
At any cost?
Were the Banks deliberately giving Loans for falsely Inflated Valuations:
Just to trap people into getting Loans while the Interest rates were at emergency levels?
Whilst also being well aware that they are not worth anywhere near that price?
Did they give Sub-Prime Mortgages like what happened in the US?
It seems that they did,
As many people will not be able to afford the Loan at Normal Interest Rates.
It also means that our Bank Valuations are False,
As the Homes they own until the last payment is made,
Are worth less than half of what they claim.
Australia is Country that makes nothing,
Uses House Prices to artificially prop up Bank Valuations.
And Acts like House prices are our entire economy.
It's good at forcing people to prop up Big Companies, such as Banks,
Whether by artificially Inflating House Prices via poor Financial Policy,
Or forcing them to prop them up with Tax Payers Wages Via Superannuation.
So the Banks were Greedy,
The RBA too stupid to do it's Job,
The Gov was more Interested in lining rich property investors Pockets that worrying about all other Australians -
To Buy their Vote,
International Investors Manipulate the Market,
(and are still allowed to do so even in a Housing Affordability Crisis,
While we are not allowed to do so in their, and most countries in the World !!!!)
So called skilled Migrants are Imported to Prop up the Market creating false demand,
And Tax breaks such as Negative Gearing make the problem even worse.
