Business
‘They will never let a housing crash happen’ – The Australian Financial Review
Australia’s political leaders won’t let property prices slump – and that will keep prices unhealthily high – says consultancy SQM Research.
“The path they’ve put us on … will mean home ownership rates are going to keep falling over the next 10, 15, 20 years. That’s bad news for liberal democracy. We don’t have a crash but instead have a massive gap between those who have a house and those that don’t.”
Ownership, a postwar aspiration of middle-class Australia and a key means of wealth accumulation in this country, is already falling. Outright ownership and ownership with a mortgage slipped to 65.5 per cent in the 2016 census from 67…
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