Labor is in damage control over falling house prices. Why not take credit instead?
The Australian Labor government is facing political backlash over falling house prices, which some attribute to recent policy changes regarding negative gearing and capital gains tax. The article suggests that the government should frame these market adjustments as a successful effort to improve intergenerational equity rather than attempting to distance themselves from the data.
Why it matters
Housing affordability is a critical economic and political issue; how governments communicate market corrections can influence public perception of their economic management.
Housing data released by analytics firm Cotality showed prices fell in 95% of Australian suburbs in August./iStockphoto Housing data released by analytics firm Cotality showed prices fell in 95% of Australian suburbs in August./iStockphoto Housing Labor is in damage control over falling house prices. Why not take credit instead? Tom McIlroy In the long term Chalmers, O’Neil and Albanese will want to own any improvement in intergenerational equity, so maybe it’s better to start now
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Getting caught telling the truth can be dangerous in politics.
This week, as Labor struggled to explain a growing downturn in Australia’s property market and copped anger at falling house prices, assistant minister Matt Thistlethwaite was more frank than most of his colleagues about the contributing factors.
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