Monday, August 13, 2007

Housing affordability hits new record low

Those hard-working pollies who 'manage the economy' (or so they keep telling us) are at it again, fixing up the housing affordability problem. Anyone would think they just swanned around for a living delivering speeches, attending openings and taking credit for other people's work, and playing political games with developers, big business, and anyone else with loads of cash. The key words are 'tangible policy action':

"The Australian economy is performing well yet an increasing number of Australians are now being left behind as the degree of housing stress being felt by both mortgage holders and renters continues to intensify," Dr Silberberg said.

"The longer we go without tangible policy action, the worse the situation will become, and that's without higher mortgage rates."

Housing affordability hits new record low

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