More wealth in fewer hands — the great housing rort (www.abc.net.au)

submitted 1 month ago by Gorgritch_umie_killa@aussie.zone to c/australia@aussie.zone

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[-] SamuraiBeandog@lemmy.world 3 points 1 month ago* (last edited 1 month ago)

Did you read the whole article? It is essentially saying what you are saying.

And if we've learned anything from the past four decades, cheaper loans have only helped drive prices higher.

... which will make it marginally cheaper to borrow and hence temporarily improve affordability. Unfortunately, that could be enough to lure in more buyers, which will push prices higher

Given we're not building anywhere near enough dwellings to house our rapidly expanding population, real estate is likely to continue rising. Add to that the tax incentives that favour investors, and any interest rate cuts are likely to only deliver a temporary respite to those looking for a first home.

But that rising wealth is likely to be concentrated in ever-fewer hands in the future.

this post was submitted on 15 Oct 2024

37 points (100.0% liked)

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