Affordable Housing Availability Decreased By Those Who Can't Afford Housing

<p>An Australian housing industry body has made the claim that people who can't afford to buy their own homes are contributing to the lack of affordable housing.</p>
November 1, 2006, 9am PST | Nate Berg
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"Instead of pouring money into home repayments, Urban Development Institute of Australia (UDIA) Queensland president Brent Hailey said, people who could not afford to buy their own property were spending more in other areas, putting pressure on interest rates."

"Mr Hailey said this was a 'destructive cycle' that would lead to job losses in construction and other industries, as people who moved to Queensland could not find affordable housing to buy or rent."

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Published on Tuesday, October 31, 2006 in The Australian
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