Peter Martin, Crawford School of Public Policy, Australian National University
None of the 49 leading economists polled in the latest Economic Society of Australia survey said they believed the market was delivering good outcomes.
We found people who own their home outright were 1.5 times as likely to be highly satisfied with life as renters. But it can be a different story if you have a mortgage – especially if you’re 50-plus.
Since foreign owners only represent a tiny segment of the housing market, it’s unlikely that Canada’s new ban on foreign homebuyers will make homes more affordable for Canadians.
Routine maintenance is necessary for every homeowner. But for Black women, that burden is complicated by decades of redlining and the impacts of climate change.
Labor’s scheme will get people into homeownership who would have otherwise missed out. The Coalition’s will get people already likely to buy into houses sooner.
The 2017 tax cuts put a $10,000 cap on the deduction for state and local taxes. The richest households would see the biggest gains from eliminating or raising the cap.