If I was a young person who now make up the majority of the population I wouldn’t be standing for this…
According to the The Daily Telegraph, Dr Lowe told the hearing not enough homes were being built to keep up with population growth, which was tipped to rise 2 per cent as a result of international migration and the return of foreign students.
“Are there 2 per cent more houses? No,” he said.
“We need more people on average to live in each dwelling.”
Dr Lowe said one way to ease the rental crisis was for people to stay living with their mum and dad longer or to share a home.
“As rents go up, people decide not to move out of home, or you don’t have that home office, you get a flatmate,” Dr Lowe added.
“We do need people to economise on housing …. Kids don’t move out of home because the rent is too expensive, or you decide to get a flatmate or a housemate because that’s the price mechanism at work.”
Dr Lowe said the RBA tipped rental rates would rise about 10 per cent
