I guarantee you, that everyone will say the solution is to subsidize mortgages, driving up the price of housing, further. No suggested program will ever lower the price of housing.
The people in the houses, now, only have them because the government kept rates artificially low, for decades. Biggest welfare program the world has ever seen. They live in houses that they didn't really pay for and receive pensions that they didn't really finance, and now they get to sell those houses at grossly-inflated prices to the next generation, that also slaves away to finance their pensions.
Buy Bitcoin.
That is the essence of fiat debt slavery.
The opposition’s plan is to let #AUStriches raid their superannuation funds to buy houses.
The current Labor Gov have as far as I can tell got zero plans at all to deal with the problem at a Federal level where they just pretend it doesn’t exist, whilst the State Govs have been handing out larger and larger first home buyer grants.
Both are pumping immigration to keep up insane demand. Both are happy with Chinese and Indian buyers laundering money through RE.
Neither will let the Ponzi collapse because that would mean a generation out of power.
Our whole politics is basically kicking that can and hoping it doesn’t blow up on your watch because the Boomer’s will lose their minds if it did.
Oddbean new post about login | logout