House prices are crashing down in Australia, with forecasts for Sydney that they’ll have fallen by 20% from their peak by the end of this year, with the possibility that they will fall much further beyond that. So how did it get this bad and will this “correction” mean houses will become affordable again, or is more government involvement needed? Pieter Verhoeven, a Debunking Economics listener, asked, “rent control, a good idea?” Phil Dobbie puts the question to Steve Keen. Plus, Carl Gianarakis asked "How much harder is it for young Australian first home buyers today than it was for buyers who bought prior to the introduction of negative gearing?" Listen in for an update on the Aussie housing crisis and what we can learn from it.
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