Ask a Labor MP whether falling house prices are a good thing, and you will quickly discover there is no approved answer. Too enthusiastic and you terrify home owners. Too negative, and it is harder to argue the government’s housing policies are improving affordability.It was backbencher Josh Burns’ turn on Wednesday morning. Asked whether he was concerned about borrowers slipping into negative equity – when their home is worth less than the mortgage secured against it – Burns pointed to Reserve Bank of Australia figures showing a higher share of borrowers were in negative equity in 2018 and 2019 under the Coalition government.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
Labor MPs are lost in housing’s hall of mirrors
Prices are falling, but the government is reluctant to claim the credit. So its MPs have resorted to rhetoric about renewed optimism for first home buyers.
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