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Housing affordability a "national tragedy"

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Your Investment Property | 07 Mar 2016, 07:54 AM Agree 0
New report claims housing affordability has hit its worst level in three years
  • Patrick McMenamin | 07 Mar 2016, 02:28 PM Agree 0
    I get so tired of all this affordability nonsense. Like it or not the residential property market is a free market. If properties in general are genuinely unaffordable, the auction clearance rate will tumble and/or those needing or wanting to sell will adjust expectations and prices accordingly, i.e. to find a buyer. If everyone trying to sell is finding a buyer at current price levels, the market is clearing and therefore in the broad sense housing is not unaffordable. That some find prices above their capacity is a distribution of income social issue and this is an entirely different subject.
  • Tom | 09 Apr 2016, 08:50 PM Agree 0
    Maybe its not a national tragedy, but it certainly is a Sydney tragedy with the median house price over 1 million now. The free market supply and demand argument has been altered as Sydney population growth has been rapid, particularly overseas buyers who are very cashed up and will buy properties at any cost and whatever it takes to secure a property.
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