In a grim assessment, Shadow Housing Minister Jason Care said the housing industry was “about to go off a cliff” with predictions the market could drop by as much as 20 per cent. “The government needs a plan to make sure that we keep these tradies and these small businesses working over the next few months, instead of all these tradies on the dole,” he said.
Mr Clare said government support for social housing could shore up the industry. “One obvious way to do this is to build more social housing, to repair social housing, it’s the sort of thing that has been done in the past — you can do it quickly and it works," he said. When asked who would foot the bill, Mr Clare said the government should team up with its state counterparts, superannuation funds, and private investors.
Social housing is run by the States and Territories go ask them. Fools
Government spending money in housing will crowd out private investment.