The record prices are bad news for buyers, especially first-timers, as the cheapest segment of the market had the highest growth…
Chief executive Enzo Raimondo said housing affordability would remain an issue for buyers this year.
”Increased house prices in the past quarter and over the past two years are due to an imbalance between housing supply and the needs of our growing population,” Mr Raimondo said. “This is a systemic problem with the local market and steps need to be taken to increase supply.”
That’s the only explanation included in the article, and of course it’s from the self-interested lobby that profits from house prices being high. (Also, revealingly, the article hadn’t even by this point revealed of which organisation precisely Raimondo is Chief Executive. Maybe they just assume readers are as familiar with his work as they are. It’s as if, for real estate reporters at The Age, he’s kind of their chief executive…)
This follows a similarly one-sided and shallow report on the subject by Marika Dobbin on Wednesday.
Remember, this is in the context of a state where the new Premier used to work for the family real estate firm and is already bringing in policies to help such companies (at first home buyers’ expense). It’s in the context of a generation giving up on ever owning their own home, a problem which will undermine our entire society – and in the context of a political system dominated by two parties either too gutless or unsympathetic to do anything about it.
Look, Age. This is a serious issue. Could you stop running interference for the organisations that have been profiting from the problem?
(Marika didn’t return calls from Crikey.)
UPDATE: Interesting to compare this with when Marika once pissed off the REIV, and what Fairfax did to her story then.