Treasurer Scott Morrison's highly anticipated affordable housing push has hit a roadblock after the government unexpectedly announced limits on managed investment trusts that industry figures say will cruel the supply of new dwellings.
The property and construction industry are reeling from a surprise announcement by the Treasurer that as of 4:30 pm Thursday, so-called MITs would no longer be able to buy residential property other than affordable housing.
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Jacob Greber was The Australian Financial Review’s senior political correspondent. Connect with Jacob on Twitter. Email Jacob at jgreber@afr.com