Commentary
Over the past decade in Australia, we have had a series of governments delivering disappointing policies. Unfortunately, I expect this disappointment will continue with the new Labor government. One case in point: their housing policy was announced during the most recent election campaign.
The Labor Party’s shared equity scheme is yet another poor federal government housing policy that fails to tackle the fundamental cause of Australia’s affordability problem.
Housing affordability has been at the forefront of Australian public policy for years. Studies show that the deposit is the single biggest hurdle for prospective homebuyers. According to the Grattan Institute, in the early 1990s, it took six years to save a 20 percent deposit on an average home—today, it takes 10 years….