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This interview with Mike Jeffreys at Radio 2GB discusses the resurging boom in Australian house prices and why Labor's 5% deposit scheme will make the housing affordability situation much worse.
Foreign capital, and also sheer numbers of people, are driving up prices. Making it easier to get a massive mortgage is not going to make housing any cheaper. It only allows people to compete with migrants. And if interests rates rise, that can happen for any number of reasons, those with massive mortgages will lose their homes.
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