The Canberra Times brings news that Simon Corbell has had a brilliant idea to “tackle” the crisis of housing affordability.
He’s going to reduce supply!
Land for public housing could be handed over free in future block releases to tackle the ACT’s growing affordability crisis, says Planning Minister Simon Corbell.
Absolutely brilliant Simon. We take it you’re actually trying to increase prices here as surely you aren’t this silly?
It gets better, they’ve realised that the (also market distorting) “affordable housing” is being snapped up and sold on at full freight so now there’s going to be another layer of price control on those blocks of land.
It all keeps public servants employed, Simon in the media, and property owners smiling all the way to the bank. But if he wants to improve affordability he’s going to have to increase the supply into the open market.