The Federal FHBG and now the state housing grant for new homes are adding to the glut.
Again as I have been saying all along, the whole shortage myth is a dangerous one because it doesn't exist and all the while we are getting more and more houses being built.
Problem is so many people have been drawn into the building indusry. The HIA suddenly realizes that despite a huge glut of properties coming to the market and being built (even though demand for new loans have dropped off significantly), a lot of their constituents are now running out of work.
To further their interests (which is actually in conflict with the estate agents selling established homes), they spruike the shortage myth to keep the builders, roofers, brick layers in jobs.
