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‘Mad stuff’: Finance guru slams Labor move

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Australian businessman Mark Bouris has said he’s “never seen anything like this” as people try to get home loans amid a crisis he believes Labor is stoking.

The number of loans provided for the purchase or construction of new homes has fallen to its lowest levels since the Global Financial crisis , according to the latest data.

So simple maths shows that we need to build over 800,000 news homes by 2028 to keep up with our current immigration intake. That’s $2.5 billion for 30,000 homes, which equates to about $85,000 per home. But last time I checked, it costs over of $470,000 to build a new house in Australia.The Albanese government is planning on bringing in around 1.

 

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