Quote:
Originally Posted by CliffFletcher
Loads of 26-35 year olds already here (including immigrants and the children of immigrants) would love to buy a house if they could afford it.
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Sure, but developers aren't going to willingly cut their margins just to make houses more affordable, nor are they going to build speculatively on the hope that a market will materialize. Either the government would have to get into building social housing (unlikely given that both major parties are neoliberal), or we'll have to wait for a correction in the housing market.
And the latter is probably going to happen at some point. Look at the chart below comparing median mortgage payments to median income over the last 40 or so years. It certainly wasn't a housing construction boom that significantly increased affordability in the early '80s, early '90s, and late '00s. Those were the low points of housing starts in fact.