Do Howard and Costello regret creating Household Debt Mountain?

This morning the Sydney Morning Herald published an article by Peter Martin discussing the responsibility of the Howard government for the current absurd state of affairs with regard to the price of land/housing in most parts of Australia but particularly in the capital cities.

How did we manage to turn what should be a national competitive advantage – oodles of low cost land into a massive millstone around our neck with only a trickle of ‘wealth effects’ to keep the economy ticking over?

The comment below was made at Macrobusiness 


Categories: Macrobusiness

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