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Housing Affordability Crisis - 7.30 Report

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Uploaded by on Jun 3, 2010

7.30 Report - Home values have risen an average 11.9 per cent in capital cities over the past year making it harder and harder for families to fulfil the Australian dream of a quarter acre block. Greg Hoy looks at the social and economic ramifications. Jo Brown of NRAS Scheme is interviewed

Reporter: Greg Hoy

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  • Real estate in Australia is nothing but one great big PONZI con full stop!

  • good luck for next generations living in australia. I know my kids will never be able to afford to own a home. neither yours. then the only sensible thing to do for next generations is to move to another country where housing is affordable. those left here will be old people who have already own their homes.

  • I disagree with the Property Analyst in this video, Tim Lawless, claiming that it is a "massive influx" in the supply of houses that will pop the bubble. Rather it will be the decline in credit expansion/pool of real funds, that will cause less spending, thus the bubble to burst. Always has and always will be the cause of asset bubble declines. Further rate rises will get the ball rolling further...

  • yeah , $340 K for 1 bedroom flat is madness . 5 -6 years of income for a tin box ?! loonies !!! I tell you , if the prices won't come down soon all the migrants that come here will only come here for work , save , and then go back to their countries with all the aussie $ and spent it on a new houses over there . I'm a migrant too , I have lived here over 22 years and starting to think that this is the only way I'll ever be able to get a house and own it .

  • $340K for a f**king converted shipping container? This is Madness!

    If anybody thinks that the Government is serious about making houses more affordable.. then you have rocks in your head.

    The Government has done everything in its power to keep bubble house prices inflated and refused to let the market correct itself.

    Despite, their meddling, the time will come when the housing market will eventually pop.... it is inevitable.

  • It's like trying to plug a dyke with your finger. Maybe if we cut immigration while we played catch up with housing we might have a chance, but government is addicted to immigration as it means growth, and we all know growth is good.........for some! Australians need to take more interest in government policies, natural population growth is different to immigration, as baby lives at home with Mum and Dad, as oppose to a new immigrant who needs a new home.

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