02/10/2023
๐ฐHousing Market News update๐ฐ
โ ๏ธReserve Bank's ex-Governor Philip Lowe warns against rent controls prolonging the housing crisis.โ ๏ธ
Government debates limiting rent hikes, but Lowe asserts it's not the answer.
Greens seek a 2-year rent freeze, yet Lowe insists building more homes is the fix. Lowe advocates flexible housing supply via zoning deregulation, involving state and local governments.๐ก๐๏ธ
He calls for ditching "restrictive zoning laws," blaming them for exorbitant land costs. Lowe envisions improved quality of life through lasting solutions.
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