The primary purpose of Scott Morrison’s plan to give first home buyers access to their superannuation is not to help young Australian afford a home, but to keep the big banks ringing up profits from mortgages.
The major political parties’ economic policies from the 1980s onwards smashed Australian manufacturing, which shrank from 20 per cent of GDP in 1980 to barely 5 per cent now.
Mortgage stress now grips 42 per cent of Australian households, according to a UNSW City Futures Research Centre survey. This is a sharp increase from 30 per cent in February 2020.
