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Housing affordability crisis not down to unsustainable rising prices, says Morrison

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Housing affordability crisis not down to unsustainable rising prices, says Morrison

 

“We do have high levels of household debt, and that is principally around housing itself. But the values, although they are in many cases widely unaffordable and are high, they are also real values, and those asset prices actually underpin things like our banking system where 60% of the loan book of the banks are those housing assets. 

“I make that point not to say housing is affordable, I think we have a housing affordability problem, but it would be wrong to say that is because of speculative drives in asset prices which are unsustainable, and which will fall off a cliff and undermine our economy.”

Morrison’s comments came after the Treasury secretary, John Fraser, warned that young Australians were increasingly having to rely on the “bank of mum and dad” to get into the property market.

Fraser said on Wednesday the problem had become so prevalent it was affecting parents’ superannuation decisions, saying they’re now saving later in life to help their children afford their own property.

 

Eleventy Joe reincarnate

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And many still think we don't have corrupt politicians in Australia.

Guess it must depend upon your definition of "corrupt".

Who's the beneficiary of these statements?

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And many still think we don't have corrupt politicians in Australia.

Guess it must depend upon your definition of "corrupt".

Who's the beneficiary of these statements?

 

I sleep better at night knowing ScoMo is treasurer. His latest (lack of) effort is to tell the states to do something about affordability. Man's a genius.

 

I suspect someones told him that Hockeys "let them eat cake" moments, (AKA Get a better job) might not be the best idea if you actually want to remain treasurer as opposed to getting your parliamentary pension and an ambassadors salary at the same time. Thank god the age of entitlement has ended eh?

 

Instead Scomo's going for the appearance of action and blame shifting when it all fails.

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I sleep better at night knowing ScoMo is treasurer. His latest (lack of) effort is to tell the states to do something about affordability. Man's a genius.

 

I suspect someones told him that Hockeys "let them eat cake" moments, (AKA Get a better job) might not be the best idea if you actually want to remain treasurer as opposed to getting your parliamentary pension and an ambassadors salary at the same time. Thank god the age of entitlement has ended eh?

 

Instead Scomo's going for the appearance of action and blame shifting when it all fails.

 

Labor was hardly any better when in power. Only at the last election (whilst in opposition) they promoted good ideas. But when in power, both sides seem to get stage fright!

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Labor was hardly any better when in power. Only at the last election (whilst in opposition) they promoted good ideas. But when in power, both sides seem to get stage fright!

 

Sure. However, I was equally disparaging when Labor were in charge. Swan squibbed in virtually the same way. If you're going to get all partisan then I'll remind you that it was Howard that implemented the CGT discount which provides by far more incentive than NG to PI's.

 

The point is that the LNP have been in power for four years and they have just this week axed their housing affordability inquiry. I'm not partisan when I see bad policy from either side. Are you really keen to defend the current mob?

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Sure. However, I was equally disparaging when Labor were in charge. Swan squibbed in virtually the same way. If you're going to get all partisan then I'll remind you that it was Howard that implemented the CGT discount which provides by far more incentive than NG to PI's.

 

The point is that the LNP have been in power for four years and they have just this week axed their housing affordability inquiry. I'm not partisan when I see bad policy from either side. Are you really keen to defend the current mob?

 

I'm hardly taking a partisan view on housing policy. As I said above 'But when in power, both sides seem to get stage fright!'. This is one of the reasons why I'm a strong advocate of publicly funded elections. It is next to impossible for parties to think of the public interest when formulating policies if they're being funded by vested interests like the property industry in this case. Also, with many politicians from both sides of the spectrum personally owning IPs, they're hardly going to look after the interests of those unable to purchase their own home by implementing any policy that will reduce prices.

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I'm hardly taking a partisan view on housing policy. As I said above 'But when in power, both sides seem to get stage fright!'. This is one of the reasons why I'm a strong advocate of publicly funded elections. It is next to impossible for parties to think of the public interest when formulating policies if they're being funded by vested interests like the property industry in this case. Also, with many politicians from both sides of the spectrum personally owning IPs, they're hardly going to look after the interests of those unable to purchase their own home by implementing any policy that will reduce prices.

Well in that case it seems I owe you an apology. We are in furious agreement that morrison is a mindless sh*tgibbon and as bad as swan or Shrek ever was. :)

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On 10/27/2016 at 8:52 PM, cobran20 said:

 

I'm hardly taking a partisan view on housing policy. As I said above 'But when in power, both sides seem to get stage fright!'. This is one of the reasons why I'm a strong advocate of publicly funded elections. It is next to impossible for parties to think of the public interest when formulating policies if they're being funded by vested interests like the property industry in this case. Also, with many politicians from both sides of the spectrum personally owning IPs, they're hardly going to look after the interests of those unable to purchase their own home by implementing any policy that will reduce prices.

Surprise!

Housing affordability: Australia's politicians among nation's most aggressive investors

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