I may have to quote what Paul Keating said:" The recession that we had to have!" to bring the prices down, more unemployemnt, higher interest rate, house prices slump. Home owners will have negative equity. Then more empty house will be available because we are living on the street. Just look at the USA, housing market falls, the whole economy is in trouble. The govenment have so much cash, should offer all renters tax deduction for rent, for home owners, interest deduction as well. Not only let the investors reap the benefit of deductbility of interest. Also, build more shoe boxes for young ppl so they can afford it. They dont need a big land with pool. A bedsitter will do.
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