Dawn chorus: Not a single new home announced

Interest deductability surprise undermined by short-termism on capital for new supply and reliance on councils and private developers to deliver; $5.8b is to buy land & pay for housing infrastructure

TLDR: The Government’s housing package was impressive on the surface and in the short term, but lacked any strategic focus or accountability around affordability. It also left an effective Government-wide guarantee for a too-big-to-fail housing market firmly in place. Bankers are already talking about the Reserve Bank having to offset the impact by lowe…