60% Of Your Income JUST TO PAY THE MORTGAGE? #shorts #australia #economy

By Scott Kuru

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Australia already has a housing shortage. So when new modelling says recent Budget measures could mean 10,700 fewer homes starting construction over the next four years, I think Australians deserve to understand exactly why. The same independent modelling, commissioned by four major housing and property industry groups, estimates rents could end up around $10 a week higher than they otherwise would have been. Treasury’s modelling puts the rental impact at around $2 a week and the government maintains its overall Budget package will increase housing supply. Meanwhile, we’re already seeing pressure in the rental market. Recent analysis found only 61 new rentals were added for every 100 rented properties sold in the first seven weeks after Budget night. That’s what worries me. Australia doesn’t need fewer homes. We don’t need fewer rentals. And we definitely don’t need policies that make it harder for builders, developers and investors to put new housing on the ground. The governme

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