Is it too much to as that our leaders or those in a position to do something or not do something (FHBS) as the case may be, look at the reality that is staring them in the face;
New hone approvals down BUT renovations investment up, at least here in WA!
I wonder why? Well IMO it's cleary because the clever one's are remaining where they are, not selling due to;
1. falling RE prices, 2. high costs associated with selling/buying (stamp duty & RE commissions)
Perhaps people are wising up that as the PPR (principle place of residence is in its simplest a form of shelter) and indeed a long term investment despite the Australian average of moving PPR's every 5 years! Perhaps people understand that it's more cost effective to renovate one's existing home and avoid the associated costs as outlined above.
What's the bet we see the housing sector once again propped up to create an even bigger fall...
