In a dawn raid on May 4, about 20 police descended on protesters, who had set up tents on the lawn in front of Hobart’s Parliament House to protest the state government’s lack of response to Hobart’s housing crisis, and ordered them to move on.
housing affordability crisis
Chairperson of the Australian Prudential Regulatory Authority (APRA) Wayne Byres recently said that he would not use the “B-word” to describe the housing market, preferring instead to use “heightened risk” rather than housing bubble.
The federal treasurer’s “solution” to the housing affordability crisis is to get state governments to relax restrictions on housing developers to increase supply.
Scott Morrison told the industry’s peak body, the Urban Development Institute, on October 24 that “housing in Australia, especially in Sydney, Melbourne and Brisbane, is expensive and increasingly unaffordable, but that does not mean it is overvalued.”
How can you have more affordable housing and keep prices up at the same time?
The answer is you can’t do both.