The outspoken Greens MP knocked back Reserve Bank Governor Philip Lowe’s solution to fixing the nation’s housing crisis, demanding more public and affordable homes be built.
Appearing at Senate Estimates during the week, Mr Lowe was pressed on a number of areas including the impact population growth will have on housing supply.
He conceded that there is no immediate fix for the situation, but suggested people battling the rental crisis should find a roommate, or stay in the family home to help reduce rental prices.“Higher prices do lead people to economise on housing, don't they? Kids don’t move out of home because the rent’s too expensive, or you decide to get a flatmate or a housemate because that’s the price mechanism at work.
“The number of adults hasn’t dropped that much. But what we are seeing is a shift in the nuclear family. Laborâs budget found $12 bil for property investors and locks in $30 bil a year for the Stage 3 tax cuts. It is beyond comprehension that Labor would refuse to invest $3.5 bil on public housing and a rent freeze in the middle of one of the worst housing crises Australia has seen.“Really, the way to solve this issue is a large-scale investment in public and affordable housing, the way the country used to in the 20th century, and a freeze on rent increases,” he added.
Driving that figure were increases in the prices of housing, fuel, food, and transport. Last month it lifted the cash rate by 25 basis points to 3.85 per cent, after pausing in April.
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