Opinion
High house prices are killing off our new entrepreneurs
Business start-ups are declining among younger generations and rocketing property prices may be to blame. That’s bad for the economy.
John KehoeEconomics editorHousing supply and affordability is one of the biggest policy failures by governments over the past few decades in Australia.
Research by Commonwealth Bank of Australia shows mortgage repayments as a share of median household income with two full-time earners are close to record levels experienced in the late 1980s when interest rates hit 17 per cent. This reflects a combination of high house prices, high mortgage debt and the recent rises in interest rates.
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