If Australian politics had an out-of-touch-o-meter, a lot of politicians and media pundits think it would’ve gone ding this week. Treasurer Joe Hockey’s dim platitudes on housing affordability, dished out as he publicised the government’s crackdown on foreign investment, added fuel to a debate about government policies incentivising property investment that has been raging for years.
Is Australia in a housing bubble?
Joe Hockey and Tony Abbott are pretty pleased that property prices are so high right now. But are we in for a crash? Freelance journalist Andrei Ghoukassian runs the numbers.