News Muncher - category housing affordability

1 month, 2 weeks ago

Easing lending rules would make it easier for first home buyers, but would it create financial instability?

ABC

As the Reserve Bank meets to consider whether to follow in America's footsteps and cut interest rates, housing affordability is again centre stage of the political debate. They point a worsening picture of mortgage stress picture now that the Reserve Bank has raised the official cash rate to 4.35 per cent and variable interest rates are hovering around 6 per …

Housing Financial Bank Mortgage Home Loans Interest Rates Risk

2 months ago

Corporate Landlord Scrutiny: Kamala Harris Aims to Take on Billionaires and Drive Down Housing Costs

CNN

Vice President Kamala Harris has pledged to take on corporate landlords and address the issue of housing affordability. Her campaign promises to provide down payment assistance for first-time homebuyers and to drive new housing construction. However, the extent to which corporate investors have a significant impact on the housing market is unclear, as they are a relatively small share of …

Government Law Economy Housing affordability Atlanta

2 months, 1 week ago

The prime minister's new beach house has just made his job — and his colleagues' — much harder

ABC

I'm sure we can all agree on certain baseline entitlements for our political leaders. Which is that the prime minister's decision to buy, jointly with his partner Jodie Haydon, a $4.3 million clifftop beach house, with ocean views so expansive that they would challenge the visual field of an owl, right in the middle of a national housing crisis, right …

Housing Prime Estate Real Buy Dutton Queensland

2 months, 1 week ago

When the RBA cuts interest rates, housing affordability relief may only be temporary for first home buyers

ABC

Housing is about to become more affordable. Why the RBA will be forced to cut before year's end Photo shows Shoppers walk through Pitt Street Mall With growth at the slowest pace in Australia since the recession of the early 1990s, we are now faced with an ongoing economic crisis in China — our biggest trading partner — and the …

Real Estate Housing Wealth Interest Rates Interest Affordability Likely

2 months, 3 weeks ago

Where Harris, Trump stand on housing: election voter guide

LA Times

Trump, a real estate developer, has fewer specifics than his opponent in addressing housing affordability. The Republican nominee said his administration would remove 11 million immigrants living in the country illegally by having the National Guard, local police forces in cooperative states and the military go door-to-door in a process that he said recently would be a “bloody story.” The …

Housing Trump Harris Biden Housing Affordability

3 months, 1 week ago

Independent voters could decide the election — and they lean very differently in each state

The Independent

Sign up for the daily Inside Washington email for exclusive US coverage and analysis sent to your inbox Get our free Inside Washington email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. The figures are from a set of new …

Florida Independent States Trump Pennsylvania Swing State Harris

5 months ago

As property prices grow, a new study forecasts Greater Sydney's market remaining unaffordable into next decade

ABC

It's no secret that property prices in Sydney are eye-wateringly high. But according to a new study, property prices across Greater Sydney will be unaffordable for anyone on a single median income until at least the next decade. According to the results, quarterly repayments — including houses, apartments and townhouses — in 2031 for those on a median full-time income …

Housing Market Affordability Study Sydney Greater Nsw

6 months, 1 week ago

International Housing Affordability Report: Sydney, Melbourne and Adelaide declared among the least affordable cities to buy a home

Daily Mail

A leading economist fears more Aussies will delay or have fewer children and be cut off from employment options after Australia was declared one of most unaffordable housing markets in the English-speaking world. The grim prediction comes after the annual Demographia International Housing Report ranked Sydney as the second least affordable city to buy a home in the world. The …

Housing Australia Canada States Hong Kong Report Melbourne

8 months, 3 weeks ago

House prices continue to rise as number of landlords increase

ABC

While buying a home to live in remains out of reach for many Australians, investors are flooding back into the housing market. "Despite very high interest rates and a cost of living crisis, we've been seeing housing values rising ever since, albeit at a slower rate of growth," Mr Lawless said. The unfortunate reality was that it was "damn near …

Housing Tax Prices Interest Rates Property Market Young People Investors

9 months, 2 weeks ago

Biden says he can fix America’s housing affordability crisis. Will it work?

CNN

Washington CNN — Americans are in the throes of the worst housing affordability crisis in decades. The proposals, Biden argues, would address the two primary factors behind the home affordability crisis: Decades of under-building means there aren’t enough homes on the market, and mortgage rates have surged to multi-decade highs – more than double what they were before Biden took …

Homes Tax Congress Prices Mortgage Biden Demand

1 year, 3 months ago

Housing affordability at lowest level in 30 years, data shows

ABC

In short: A report by real estate analysts PropTrack says servicing a mortgage is "close to as hard as it has ever been", where a household earning an average income "would need to spend a third of their income on mortgage repayments to buy a median-priced home" A report by real estate analysts PropTrack says servicing a mortgage is "close …

Household Housing Prices Income Mortgage Affordability Cent

1 year, 6 months ago

New York City ranked as worst place to start a career for fresh graduates, study shows

Firstpost

The study compared factors such as the availability of entry-level jobs, housing affordability, and commuter friendliness across various cities. Surprisingly, New York City emerged as one of the least suitable places to begin a career New York City is often regarded as an appealing destination for professionals due to its towering skyscrapers, vibrant atmosphere, and a multitude of attractions such …

New York City City York Housing Affordability Graduates Study

1 year, 7 months ago

Can Labor solve the housing affordability crisis while lucrative property tax breaks exist?

ABC

Norma Wannell never imagined she would be homeless. RBA says first home buyer and building grants pushed up house prices Photo shows An aerial shot of the inner-city Perth suburb of Mount Hawthorn Government subsidies such as first home buyer grants and HomeBuilder have boosted demand for homes and helped push up house prices, with "pervasive" impacts on housing outcomes …

Social Housing Tax Supply Property Social Housing Budget

1 year, 11 months ago

The influence of Airbnb on Australia's rental crisis, as experts call for focus on 'real issues' at play

ABC

The irony of the situation is not lost on Emily Wright. Airbnb country manager for Australia and New Zealand Susan Wheeldon said housing affordability was a "challenging and complicated issue". Professor Gurran said as Australia continued to face a rental crisis, regulation of the sector was "critical". "We know that anything we do to take away supply out of a …

Housing Australia Supply Airbnb Crisis Covid Coast

2 years, 6 months ago

New South Wales government announces $780 million shared-equity scheme to address housing affordability

ABC

Frontline workers, single parents and older single people will be eligible for a shared-equity scheme to assist in buying a home under a NSW government plan. Key points: NSW's plan would assist in the purchase of 3,000 homes per year Premier Dominic Perrottet says the scheme would be part of a "suite" of housing affordability policies Helping older people get …

Housing Plan Federal Premier Scheme Nsw Housing Affordability

2 years, 7 months ago

Government minister admits first home buyer policy would push up house prices, PM says other policies would balance it out

ABC

Minister for Superannuation Jane Hume has conceded the Coalition's recently announced first home buyer policy would increase house prices "temporarily". Key points: Some economists say it would only push up house prices and would not address affordability Superannuation Minister Jane Hume says a number of other factors influence house prices Scott Morrison says other government policies will minimise any potential …

Policy Housing Balance Coalition Prices Affordability House

2 years, 7 months ago

To make housing affordable, property prices need to fall, hurting many Australians with big debts

ABC

"Let's make housing affordable". But anyone who talks about making housing more affordable also needs to address the worrying flip side – falling house prices for Australians who are already in the property market and have a mortgage. Like other subsidies, grants or tax breaks that added to demand, cheaper debt only tended to push up home prices and make …

Labor Housing Tax Supply Property Mortgage Interest Rates

2 years, 8 months ago

‘Ridiculous prices’: Australians’ home ownership dreams turn sour

Al Jazeera

Some Australians see buying a home as increasingly out of reach after a near tripling of prices in the last 20 years. “If doesn’t put housing affordability on the agenda for the government, I don’t know what will,” Nicola Powell, chief of research and economics at property marketplace Domain Group, said in a recent press release. “We have got ourselves …

Housing Property City House Cent Canberra Jackson

2 years, 8 months ago

Housing affordability for young people is beyond a crisis — so what do we do now?

ABC

We've hit a crisis moment for younger Australians on housing affordability. Record property prices forced many into choosing between committing to saving for a home, trying their hand in the stock market or just giving up on home ownership altogether. It will take a couple, on an average income, over a decade to save enough money to buy a "typical" …

Housing Young Property Market Young People Cent Australian Shows

2 years, 9 months ago

Inquiry says first home buyers should be able to use super savings as loan security

ABC

First home buyers should be allowed to use their super savings as security for a home loan and states should ditch stamp duty in favour of a land tax, according to a parliamentary inquiry into housing affordability in Australia. Key points: Currently, first home buyers can withdraw money from their super to buy a house, but only extra cash they …

Labor Housing Tax Supply Home Buyers State Report

2 years, 10 months ago

Could Australia learn from Singapore to make housing more affordable?

ABC

Singapore is an island city-state with about 300,000 more residents than greater Sydney, but far less than 10 per cent of its land area. "What Singapore has that Australia does not is a public housing developer, the Housing Development Board, which puts new dwellings on public and reclaimed land, provides mortgages, and allows buyers to use their compulsory retirement savings …

Singapore Housing Australia Land Prices Affordability Cost

3 years, 2 months ago

As home prices soar beyond reach, the government inquiry into supply and affordability may not explain why

ABC

Never has an inquiry into the skyrocketing price of homes been more urgent. In its submission to the inquiry the Reserve Bank includes a graph showing the supply of housing outpacing population growth for the best part of the decade leading up to the latest price explosion. In evidence to the inquiry last month, Treasury assistant secretary John Swieringa drew …

Housing Supply Inquiry Income Price Affordability Cost