Super for housing to exacerbate affordability crisis: EslakeBY ANDREW MCKEAN | THURSDAY, 19 SEP 2024 12:51PMSuperannuation being used for house deposits would push up home prices, undermining Australians' home ownership prospects, slash retirement savings, and come at a significant cost to the Budget, according to a Corinna Economic Advisory report by Saul Eslake. Related News |
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Everything that successive governments have introduced to "assist" obtaining ownership of homes has been demand side driven. Nothing has ever been done to improve the supply side, in particular developers need to build roads and install utility reticulation which raises the price of producing ready to build lots in new suburbs. Stop supporting buyers and start supporting suppliers is the the answer, but this does not win elections. Politicised policy is always short term, benefit before next election, no sensible long term planning.
Spot on PATRICK MCMENAMIN