News Ltd.

Apr 5, 2012

News suddenly realises that some people out there think of high property prices as a bad thing

We may have damned them last week

Pure Poison IconWe may have damned them last week in a post and the podcast for blithely gloating about high property prices, not realising just how serious a problem housing affordability is for young people – but to be fair to, right now they’re leading with this whip-lash opposite approach (via AAP):

There are of course a few reader comments along the lines of “hey, there’s plenty of affordable housing by which I mean housing that’s $400,000, yes, seriously, I’m saying $400,000 is affordable” and “it’s because youngsters are wasting money on the drinking and the computer games”, obviously from people who are perfectly happy with prices being high (ie, those who already own houses and are profiting quite nicely from the absurd inflation) – but at least News itself appears to have realised that other viewpoints exist.

It’s a start.


7 thoughts on “News suddenly realises that some people out there think of high property prices as a bad thing

  1. littlemaths

    To whom is this news, exactly?

  2. Matthew of Canberra

    There are a couple of ways that NEWS might be interested …

    (1) if house prices really are unaffordable, that means people are going to stop buying them, and that’s bad,

    (2) they can blame gillard.

  3. Deziner

    You’re right, the government doesn’t think there’s a right to own a home, they think there’s a right to own multiple homes. Thus the generous tax benefits of investment property ownership.

    The problem is getting that first house, and what that means for those who want more.

  4. Howard,B.

    Aunt Marilyn

    There is absolutely no right to own a home in Australia.

    Of course not. However, given it will be the one and only asset most people will have when they retire, the idea is to keep it achievable.

  5. shepherdmarilyn

    There is absolutely no right to own a home in Australia.

    I have never owned one and have no desire to do so.

  6. c d

    Unfortunately, everytime they write a property story they immediately rush to the usual suspects like the REIV, RP Data, Chris Joye, or other rogue property spruikers.

    The story is always framed around what these people or groups consider affordability. Take someone like Joye for instance, who has shoehorned himself (and given his ample frame, that’s not an easy thing to do) into the ears of government and opposition. He uses things like imputed rent and superannuation to keep pushing the idea that house prices are no more than 4.5 times income.

    I guess if they also included any insurance policies I have on myself, we could bring that figure down to 3.5 times income.

    Then there’s RP Data, even when their black box system shows prices falling, they’re somehow ‘sunny jimming’ the figures in the press release and the bozo regurgitating the content for the article barely looks at the weird variances in the figures they put out.

    And remember, affordability is something that can never come about through lower house prices; in their twisted world – where the young are to be debt slaves – it can only come about through higher first home buyer grants, stamp duty exemptions, lower interest rates, longer loan terms and higher LVR on the house – nothing that ever addresses the core problem or reveals that housing might go anywhere but up.

  7. Russ44

    Surely this is the story that keeps on giving – if prices stop galloping upwards you can write that this is a disaster for homeowners and the government should do domething, while if they keep rising you can write that it’s a disaster for non-homeowners and the government should do something. It’s almost as good as those incessant Newspolls.

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