Fact is, Australian capital city detached house prices are off just 3.4 per cent over the year to September, according to RP Data-Rismark. Housing is still as expensive as it ever was.
Actually, in real (inflation-adjusted) terms, it's around 6% cheaper, and therefore more affordable for all. In Canberra this week: the place is booming, with construction all over the place, but it's off all over the rest of the country. Metaphor for this government really: productive parts of the economy in trouble (outside mining); public sector going gangbusters.
Her grammar's terrible, and not just for a journalist. "THE fact is", unless you're from Fountain Lakes. "prices of detached houses in Australian capital cities". And I think she knew they were cheaper, which would have been clear had she said "down" instead of "off". She just doesn't think 3.6 % down is much, which needs to be considered in the context of the "property always rises" meme we're endlessly fed by Fairfax's main sponsors.
Another bad hair day at Fairfax.
ReplyDeleteMany journalists/subs seem to have a thing when it comes to numbers. Maybe they don't like the whole precision thing?
ReplyDeleteShe may have been trying to say: housing is still un-affordable to most young adults.
ReplyDeleteAnd that is an ongoing story.
Actually, in real (inflation-adjusted) terms, it's around 6% cheaper, and therefore more affordable for all. In Canberra this week: the place is booming, with construction all over the place, but it's off all over the rest of the country. Metaphor for this government really: productive parts of the economy in trouble (outside mining); public sector going gangbusters.
ReplyDeleteHer grammar's terrible, and not just for a journalist. "THE fact is", unless you're from Fountain Lakes. "prices of detached houses in Australian capital cities". And I think she knew they were cheaper, which would have been clear had she said "down" instead of "off". She just doesn't think 3.6 % down is much, which needs to be considered in the context of the "property always rises" meme we're endlessly fed by Fairfax's main sponsors.
ReplyDelete