Interest rate hikes pointless in face of disastrous lack of housing
The fact dwelling values keep rising despite a dozen or so interest rate hikes underlines the supply crisis facing the Australian property market.
New projects are taking way too long to be approved and built, and current economic conditions are making developers wary. (Image source: Shutterstock.com)
There are nuances to what constitutes non-discretionary. Food is the example often cited. But while I may love smoked salmon, I can sustain myself nutritionally without it. I have that choice. If I deem it’s too expensive, I can walk away.
Shelter - a roof over our head - is also typically considered non-discretionary. The key difference is that given the current lack of supply for owner-occupiers and renters, the choice to walk away is unavaila…
