The Grattan Institute research centre has accused state and federal governments of ignoring the real cause of Australia’s housing affordability crisis by opting for ‘quick fix’ solutions.
A new report has warned that Australia’s migration intake might need to be cut in order to address the chronic housing affordability crisis in major cities like Sydney and Melbourne.
The Grattan Institute research centre report said despite politicians proclaiming they are dealing with the nation’s housing crisis; they have actually had little impact.
The institute has warned housing affordability is getting worse with young, low-income families the worst hit in trying to buy home.
And those lucky enough to get a mortgage are finding it harder to pay it off given loans are larger and wages growth is low.
The Melbourne-based centre’s latest report has labelled governments “neglectful” and said their policies had created a “housing mess.”
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