ABC Online has a humourous piece in which Minister for Housing, John Hargraeves, asks some truly stupid questions on the subject of housing affordability.
“I would challenge the private rental market to think about the profits that they’re taking out of the private rental market,” he said.
“I’d be challenging developers to say whether or not they really need to make so much profit out of development
They key word here is market. Which means supply and demand. Want to lower prices? Increase supply. Want to raise prices? Reduce supply.
Well-intentioned but dimwitted legislation being a tried and tested way to reduce supply.