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Good news: Rising house prices « Previous | |Next »
July 7, 2007

Rising house prices cause us to feel good --unless we have to take out a mortgage:

Houseprices.jpg

I'm not sure that the increase in the minimal wage announced by the Fair Pay Commission really makes that much of a difference. Of course, many neo-liberal economics would argue that the commonwealth government should do all it can to erode the minimum wage. Australia's minimum wages are too high by international standards--the second highest after France in the OECD countries.

And we all know that France is a basket case, don't we. Washington has said so. So it must be right.

| Posted by Gary Sauer-Thompson at 7:35 PM | | Comments (3)
Comments

Comments

Well we're classic babyboomers caught in the middle - we want our own house to rise in value, we have an investment place courtesy of the benevolent CGT remission and we want to help our children into their own houses because it doesn't look like they'll make it on their own...

The 10 bucks will buy a lotto ticket thus keeping the great australian dream alive.

Phil,
It is increasingly hard on first home buyers trying to get into the market in Sydney or Melbourne. Some argue that stringent land zoning regulations monitor and restrain growth on the fringe is the cause of high housing prices. So politicians need to ease up on land releases on the outer urban fringe.

The right-leaning think tank — the Institute of Public Affairs has geared up for a campaign for greater deregulation of land use. It and the Housing Industry Association are sponsoring the Great Australian Dream campaign to secure greater land release.

Prime Minister John Howard is now on the bandwagon and, as this enables him to point the finger at the states, hew can pass the buck.

Increased land release would help people struggling to get into new houses on the fringe. Even if the states did release lots of land it won't have much effect where prices are highest---inner-city houses.