Sunday, July 15, 2007

A housing illusion we buy every time

A reasponable attempt at an analysis of the boom. I particularly like the reference to the stupidity of the sheeple in the following opening quote:

It happens after every housing boom - people go from congratulating themselves on the huge rise in the value of their home to wondering how on earth their children will afford homes of their own. So I've no doubt Kevin Rudd is on a winner with his efforts to focus attention on the deterioration in affordability for first home buyers.

A housing illusion we buy every time

The question is what are the politicians going to do to make homes affordable again? Bring down the price of land? Develop huge tracts of Crown and State land themselves affordably and put price cap covenants on them going forward?

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