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1. The Prime Minister has welcomed rising house prices.
On the same day that the head of Treasury expressed concerns about a developing housing bubble in Sydney, the PM has made his feelings as a home owner clear telling question time that he hopes house prices will rise.
“As someone who, along with the bank, owns a house in Sydney I do hope our housing prices are increasing,” Tony Abbott said in question time yesterday.
“I want housing to be affordable but nevertheless, I also want house prices to be modestly increasing.”
“The important thing is to ensure that our economy is as strong as possible so that people have as much resources at their disposal as possible, have jobs, so they can go out there and buy the things they need, including the housing that they need.”
His comments came in response to a question posed by Bill Shorten in light of Treasury Secretary John Fraser’s fears over the amount of money being poured into the housing market with interest rates so low.
Mr Fraser said he was concerned about the housing bubble in Sydney and the higher-priced end of the Melbourne market,
“It does worry me that the historically low level of interest rates are encouraging people to perhaps over invest in housing,” Mr Fraser had said.
2. Cardinal George Pell to appear at Royal Commission.
The Royal Commission into Institutional Responses to Sexual Abuse has formally asked Cardinal George Pell to appear at the second stage of the Ballarat hearings.
Top Comments
#1 - ::facepalm::
You would prefer the value of your house to fall would you?
I would prefer to be able to afford to buy a house, thank you.
Depends if you are buying a home or an investment. If it is a home it really makes no difference.
But then, if housing prices dropped, the rental market would dry up and the few remaining investors would raise prices causing the poor struggling families to pay even more rent each week.
It's not as simple as saying "facepalm".
I've always been anti death penalty. Item 11could change my mind
It sure is a hard one, I am all for human rights - but can we really call someone that has done all these things "human"....