HOUSING POLICY VACCUUM WE CANNOT AFFORD
Posted by jeffreygabriel on November 7, 2007
Above – “View from my apartment balcony in Leichhardt, Sydney“ Creative Commons Attribution-Noncommercial-No Derivative Works 2.0 Generic
Another RBA meeting, another interest rate rise. Many mortgage holders will have to fork out more and renters may also feel the pinch if their landlords are faced with increased mortgage payments. Oddly, both major sides of politics are happy with this bad news because it gives them a chance to stamp their election credibility.
The Coalition – who promised to keep interest rates at record lows – is warning that they’re the ones to trust at these difficult times. They say the ALP cannot be trusted because of their poor record in the 1980s and 1990s. This ignores two things. First, interest rates were high when John Howard was Treasurer. Secondly, despite higher interest rates at the time, housing was cheaper as a proportion of household income when the ALP was last in government than it is today.
The ALP points out that the Coalition failed to keep its promise and a new approach is needed. Of course, the ALP forget to tell you a few things. The ALP have promised little in the way of a different approach, mimicking the Coalition at every opportunity.
Has either party stopped to think of the average punter? Housing is becoming increasingly unaffordable, it is interfering with people’s quality of life and neither party is promising a comprehensive solution. In fact, many of the promises offered by the major parties will put incredible pressure on inflation and interest rates. Australian Democrats Leader Lyn Allison pointed this out today.
The Democrats have long called for a more comprehensive housing solution. Australian Democrats Housing Spokesperson Andrew Bartlett renewed the call for a housing plan that addresses all the issues. The Democrats Housing Policy can be seen here.
The people of Grayndler are struggling as much as everyone else in Australia. Some real solutions are needed, more than the sound grabs offered by the major parties. For a real alternative, Vote Democrat!
