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Labors ‘Help to Buy’ housing scheme

Michael McLaren

Michael is joined by Professor Steve Keen, economist / author of ‘Can we avoid another financial crisis?’ & senate candidate for TNL (the New Liberals), to discuss Labor’s ‘Help to Buy scheme’ unveiled at its Federal Election campaign launch in Perth.

Opposition Leader Anthony Albanese used the launch to announce the party’s plans to get more first home buyers into the market.

Mr Keen says however, ‘Forty years of government policy intended to make it easier for young Australians to become homeowners has instead made home ownership an impossible dream–or worse, a nightmare–for young Australians.’

‘While the policies of both Labor and Liberal governments had the objective of increasing home ownership, the methods they used–cash grants to first home buyers, taxation incentives to landlords, and now, underwriting first home buyer mortgages–drove prices up, and made housing even more unaffordable to prospective owners.’

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