28 November

The housing industry, and politicians getting big budget revenue from housing prices, have spent the past nearly 3 decades selling us a lie that has ruined the lives of entire generations. The lie - that high housing prices are due to a lack of supply of houses. It was always so obviously just a PR line from the housing industry, which obviously makes money by - building more houses. As the article says, it’s always how much people can borrow that determines house prices, not supply and demand. So now rising interest rates will drive house prices down. And wipe out potentially millions of Australians, saddled with ludicrous mortgages for vastly overpriced homes.