This report reads like a Property Council press release rather than analysis. Falling prices in parts of Melbourne are framed as a crisis, when for decades the real crisis has been housing becoming completely unaffordable for ordinary people. Victoria is one of the few states actually trying to increase supply, tax speculation and take pressure off renters and first home buyers. Of course the property lobby hates that. Affordable housing is not a nightmare for the public, it is only a nightmare for investors and developers who rely on endless price inflation. A correction after years of excess is not failure, it is overdue.
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