Housing affordability not an issue

The Government’s 20-month inquiry into housing affordability gave its findings on Friday. But anyone hoping for the answers to ever-increasing house prices will be disappointed.

The report by a parliamentary committee, chaired by Liberal MP David Coleman, found that there was no structural issue (no pun intended) with housing affordability. The finding stated, “The committee notes that rates of home ownership and investment in housing have remained broadly steady for many decades and that the current price cycle in the housing market across the nation overall is not inconsistent with historical trends.”

Many, including Grattan Institute chief executive John Daley, have ridiculed the findings and lack of recommendations. “They cannot be serious. “It’s laughable. There’s clearly a housing affordability problem for younger households,” he said.

Read more at TheAge.com.au

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