A day after the government and the Greens did a deal on the housing Australia future fund (Haff) designed to improve housing affordability, the Bureau of Statistics released the latest housing price data showing that affordability has again taken a dive.
Before we go any further, just consider this about the Australian housing market. In the past three-and-a-half-years we have endured a global pandemic that shut down most sectors of the economy for long periods at a time and since then we have had inflation growth which has seen the Reserve Bank raise the cash rate by 400 basis points – a larger and faster rise than we’ve had for more than 30 years.
