| Comment | Yeah... and I don't think an economic downturn is going to increase affordability particularly - realistically it might present a perfect opportunity for investors to scoop up even more properties on the cheap while banks would be reluctant to lend to FTB who might be facing increasing job insecurity.
A potential solution is to make it illegal or financially unsustainable for a legal person to own more than a set number of properties (e.g. 3). This would force a lot of investors to flood the market with their excess properties, and will actually make it relatively easy for FTB to get on the ladder. I can see this turning into a massive eviction crisis short term though... Not that I imagine any government passing such legislation that is. |
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