Housing Slump or Economic Reset | Australia News

Treasurer Jim Chalmers insists house prices will keep rising for the next two years despite a sharp drop in investor home loans—down 28%—and overall mortgage applications falling 15%, driven by higher interest rates and new tax changes. While banks and the Reserve Bank report record declines in investor lending, some economists see this as a silver lining, freeing up capital for businesses. The RBA also warns that weak productivity is holding back growth without triggering inflation, and may need to stay low for longer. Meanwhile, the opposition vows to undo the property tax changes, while critics say the government could’ve done more in the budget to boost productivity. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/0c8be016e8279f1f