Minister’s viral house price moment exposes our ugly bind
Clare O’Neil has angered younger voters by suggesting she doesn’t want house prices to fall. Their angst is understandable, but there aren’t easy solutions.
When federal housing minister Clare O’Neil was asked on youth radio station Triple J on Tuesday whether she wanted to see house prices come down to give young people a chance to get into the market, she showed she knows where the votes are.
With about 56 per cent of Australians’ wealth locked up in the $11.4 trillion property market, there’s not a lot of political capital to be gained by suggesting the government would like to see the most important assets in most households depreciate.
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James Thomson is senior Chanticleer columnist based in Melbourne. He was the Companies editor and editor of BRW Magazine. Connect with James on Twitter. Email James at j.thomson@afr.com
