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The AFR’s Robert Harley has penned a piece today, entitled Joe Hockey is right at least on Sydney housing affordability, that sides with the Treasurer and argues that Sydney housing is not that unaffordable:
…on the key measure of affordability, Sydney prices are still more affordable than they were at the peak of the booms of 1989 or 2004, or even in the high-interest-rate horrors before the GFC.
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.