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International surveys show Australia has the most "unaffordable" housing in the world. Now a reported property bubble – coupled with rising interest rates – are applying further pressure. With too few houses being built to meet demand, it's widely agreed that the housing crisis must be addressed, but how? Australia's Future Taxation System Review, chaired by retired Treasury chief Ken Henry, recommended eliminating stamp duty on house sales. However, Henry review panel member, John Piggott, an economics professor at the Australian School of Business, says keeping the dream of home ownership alive is much more than a tax issue.
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International surveys show Australia has the most "unaffordable" housing in the world. Now a reported property bubble – coupled with rising interest rates – are applying further pressure. With too few houses being built to meet demand, it's widely agreed that the housing crisis must be addressed, but how? Australia's Future Taxation System Review, chaired by retired Treasury chief Ken Henry, recommended eliminating stamp duty on house sales. However, Henry review panel member, John Piggott, an economics professor at the Australian School of Business, says keeping the dream of home ownership alive is much more than a tax issue.
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