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Further interest rate rises
The Reserve Bank has announced further interest rate rises. I heard on the news that up to 25% of people will lose their homes this year.
Rudd still seems intent on going ahead with tax cuts, which doesn't seem logical to me.
At the same time there is a shortage in housing pushing up prices and rent. The government is considering bringing in 15,000 migrant workers to help build more housing.
Sounds like a catch-22 situation as they will also need to be housed. Increases in interest rates makes it difficult for people to decide to build their own home.
I can imagine there is a problem with labour shortages in the country but I wonder about in the cities. There doesn't seem to be any long-term planning taking place.
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