“Once you are in the Sydney housing market you are pretty well set then for the rest of your life,”
It’s the claim of New South Wales Housing Minister, Anthony Roberts.
The Sydney property market is one of the most expensive in the world, and with Australia also having the highest level of household debt to GDP, many argue it is the world’s largest debt-fueled housing bubble. It makes you wonder then, if you were to get into the Sydney market, would you actually be set for the rest of your life?
Robert’s comments were made at the opening of a new apartment development in Olympic Park on Thursday. He helped the developer preach the word of perpetual house price growth, irrespective of serviceability or debt levels.
“We are not dealing with a bubble in the Sydney market,” he said. “There is no bubble here.”
“What I want to do is to get people into the market place and then they can be beneficiaries of the increase in the value of their property.”
Housing affordability is expected to be the number one election issue and has been hotly debated while Susan Ley has been using tax-payer funded travel to purchase her investment properties.
Robert’s comments is just one of many that show how out of touch, if not comical, Australian politicians are.
Here are some of the “practical” solutions being offered by our political elite:
Get wealthy Parents
When Prime Minister Malcolm Turnbull was challenged by the housing affordability debate on ABC radio in Melbourne, his only suggestion was to get your wealthy parents to shell out for a house. Turnbull told ABC host Jon Faine, “You can provide a bit of inter-generational equity in the Faine family,” and a “wealthy man” like Jon Faine should “shell out” and buy his kids a home.
I’ve since written to Malcolm and Lucy asking for adoption.
Move to Tamworth
When Deputy Prime Minister Barnaby Joyce was interviewed by ABC radio, he told young Australian Dream hopefuls to move to Tamworth.
“We believe that houses will always be incredibly expensive if you can see the Opera House and the Sydney Harbour Bridge, just accept that,” Mr Joyce remarked to ABC listeners.
“What people have got to realise is that houses are much cheaper in Tamworth, houses are much cheaper in Armidale, houses are much cheaper in Toowoomba.”
Get a highly paid job
Federal MP Michael Sukkar, Assistance Minister to the Treasurer, says getting a “highly paid job” is the “first step” to owning a home.
“We’re also enabling young people to get highly paid jobs which is the first step to buying a house, it’s not the only answer but it’s the first step,” Mr Sukkar told Sky News.
If the Liberal Party really wants to win the next election, they need to brush up on their macroeconomics. They are coming across just a bit incompetent.
Are these people really running our country?