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Home loans made clear

Stanhope rejects any influence on interest rates

By Jazz 7 August 2007 28

After reading the last submission i found it hillarious to come accross this article in posted on ABC Online yesterday where Hopeless Stan rejected claims that the ACT had some influence on housing interest rates.

Nothing at all to do with spiralling housing costs. Or the mass land sales in order to get his budget in surplus.

I also found it amusing that he’s having a go at Howard and Co. for not keeping election promises from 4 years ago that interest rates would never go up. hello… pot calling kettle…

Stanhope is not alone though, as seems all the state Labor leaders are jumping on the same bandwagon

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Stanhope rejects any influence on interest rates
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sepi 7:28 pm 10 Aug 07

Canberra households are growing up.
The kids are moving out and need homes in Gungahlin, and the parents are still living in the family home in Woden somewhere.
So the population doesn’t have to increase, the changing demographics are still putting pressure on housing availability.

thetruth 4:43 pm 10 Aug 07

Take a look at the Chief Ministers website – you will see in the FACT box him crowing about housing affordability and in the recent media releases blaming the federal government about the worst housing affordability in decades.

The fact is that interest rates are still lower than in th past so what has changed – the major thing in land supply it has been tightening for decades as states maximised profits through land corps. TIME FOR A BIT ON HONESTY IN THE DEBATE

He didn’t say he would keep interest rates low – he said interest rates would be lower under liberal than labour govt. The govt itself doesn’t set rates – the RBA does, in response to various economic indicators. Blaming the PM is the philistine’s way out.

boomacat 7:09 pm 08 Aug 07

Well, after today’s rate rise, Johnny is telling us he never even said that he would keep interest rates low.

What a pile of steaming turds.

The man is a liar.

noodle 11:47 pm 07 Aug 07

The current “debate” about interest rate rises and the effect of housing affordability is a furphy. Interest rates are still low compared to 20 years ago. The problem is the ACT government has come too late to fixing land supply, and they still do nothing at all about the taxes. Stanhope has no credibility on this issue at all. I feel sorry for people who not only can’t buy a house, but can’t find one to rent here either!

pierce 9:49 pm 07 Aug 07

Getting back to interest rates, wasn’t Howard banging on about the “fact” that state/territory government borrowing reduced the available supply of money for banks to loan which increased demand and raised interest rates.

Conveniently forgetting that with the internationalisation of borrowing over the last 20 years, the supply/demand question is irrelevant, even perhaps moronic.

Little wonder Costello said Johnny was clueless on economics.

bonfire 5:43 pm 07 Aug 07

wait for a recession and all teh single folks in three bedroom houses will rent out one or two rooms.

bang – housing surplus – price decrease

Jazz 4:02 pm 07 Aug 07

could also have something to do with a change in the average size of a household. for convenience sake a population of 300,000 with 3 people per household needs 100,000 houses.

make that 2 per household and you suddenly need a whole heap more properties to live in

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