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pintohoo

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02/04/24

10:21

Post #: 73143260
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Originally posted by Infose ↑

"If the Socialist Labor government both state and federal is serious about solving homelessness and the housing shortage crisis , they need ..."

20 years ago.

August 4, 2003 — Housing prices in Australia will remain high, Prime Minister John Howard said today.

He said rising house prices across the country were a result of a period of low interest rates which had led to people borrowing more money. Mr Howard said that had resulted in housing prices going up and that was not about to change."One of the reasons why housing has gone up in value is that we have had a sustained period of very low interest rates," he told ABC radio." What has happened is that because we have low interest rates, people have borrowed a lot more, they can afford to borrow more."They therefore borrow more to buy more expensive houses and as a consequence the whole price structure of housing around the country has gone up. "That's not going to change and I think we have to keep that in mind."Mr Howard also said he could give no guarantee housing prices could be slashed for first home buyers. Mr Howard has asked the Productivity Commission to investigate housing affordability at a time when many first home-buyers are being priced out of the market. He said increasing prices were good news for everyone who had entered the housing market. "But there is a problem if you're trying to get in and I can't promise that we're going to be able to slash the cost, I can't do that," he said. "It may well be that we can make valuable changes at the margin that will help and that's the purpose of this inquiry. "The Prime Minister said there was nothing wrong with more valuable houses other than in the case of first homebuyers. "For people who are already in the housing market, the increase in the value of their homes has been welcome," he said." I don't get people stopping me in the street and saying, 'John you're outrageous, under your government the value of my house has increased'. "In fact, most people feel more secure and feel better off because the value of their homes has gone up."

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and with such low interest rates, Howard could have built masses of social housing and set up a nation

he did nothing
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