$34 BILLION Wiped Out From the Australian Economy... #shorts #australia #housingcrisis

By Scott Kuru

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Falling property prices might sound like good news for first home buyers. But cheaper homes don’t automatically mean more AFFORDABLE homes. If prices fall while interest rates remain high and borrowing capacity shrinks, buyers can still find themselves further away from ownership. At the same time, weaker prices can make new developments harder to stack up financially, potentially creating another problem for future housing supply. That’s why I think trying to solve affordability by simply pushing prices down misses the bigger issue. Australia doesn’t become more affordable just because existing homeowners lose wealth. We need MORE homes. More housing supply. More viable developments. More competition for renters and buyers. Otherwise, we risk damaging household wealth today without fixing the shortage that helped create the affordability crisis in the first place. Do you think the government should be focused on bringing property prices down, or doing everything possible to bu

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