There
is no questioning that housing affordability is a serious issues in Australia,
when comparing home prices to disposable income we rank at + 9%. However, there
are a number of solutions that can assist in addressing this issue.
The
protectionists argue that restricting migration would lead to less demand for
housing and prices trending downwards. This sounds fine until you take into
account the economic benefit that migration provides. Take Japan for an
example, an economy that has virtually blocked migration, where the population
has declined by more than one million people resulting in more than 350,000
houses that are no longer needed.
No comments:
Post a Comment