Year 12 high school students recently took their economics exam and shared their thoughts on Sydney's housing affordability problems and interest rates. The students believe that the Reserve Bank of Australia (RBA) will keep interest rates steady due to public backlash and the cost of living pressures. They express concerns about the impact of high housing prices on young people and the difficulty of entering the property market. The students also discuss the potential consequences of rising interest rates on mortgage repayments and the overall economy. AMP Capital chief economist agrees with the students' assessment of housing affordability but expects the RBA governor to make decisions based on economic factors rather than public backlash. The article highlights the importance of including relevant and current economic issues in the high school curriculum, as they directly impact young people's lives and future prospects.
At a panel event on the Gold Coast, the ANZ CoreLogic Housing Affordability Report was launched. The panel included Richard Yetsenga, ANZ Chief Economist, Eliza Owen, CoreLogic Head of Residential Research Australia, and Jess Caire, Property Council of Australia Executive Director. Yetsenga discussed the global economic outlook and the challenges of labor and input costs for businesses. Caire highlighted the need for investment in social housing and the challenges of community opposition to development. Owen discussed the rental crisis and the impact on housing affordability. The panel emphasized the importance of boosting housing supply, removing barriers to development, and addressing the skills shortage in the construction sector. They also called for a holistic approach to housing policy and greater focus on productivity. [140a429f] [e41214d8] [9985a6ca]