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Home truths: Housing policies are for show, but one side at least gets the problem

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If you think this sounds twisted, it is. The best thing about the two sides’ various promises to help young people afford to buy their first home is the way it has provoked the nation’s economists to rise in condemnation of those schemes’ wrongheadedness. They look like they’ll help, but most of them are more likely to end up making homes less affordable rather than more.

And the parties know it. They know it because their economic advisers wouldn’t fail to make sure they knew. All economists know it, but this is the first time so many have come out and said it, joining independent economist Saul Eslake, who’s been saying it at every opportunity for decades.

You can say housing affordability comes up at every election, but not like it has this time. This time, both sides are giving it top billing. They know they can’t hope to win the election without having promises that seem to be helping would-be home owners. It’s just a pity they aren’t more sincere about it.

So what’s changed? The voting population. For years, the pollies have known that the number of home owners far exceeded the number of people hoping to become home owners. So the number of voters who love seeing the price of homes continually rise, far exceeds the number who hate it.

But now, for the first........

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