The Wire

Federal Labor leader Kevin Rudd announced plans for a Housing Affordability Fund to invest up to $500 million to save new homebuyers up to $20,000 on a home purchase. Rudd says the fund will assist a potential 50,000 new home buyers. The new plan also promises money for infrastructure in low socio-economic areas. Something that is welcomed by Julian Disney, Director of the Social Justice Project at the University of New South Wales. Yet according to Disney, it is those who can’t even dream of affording their own home – low to middle income earners -who still seem to be missing out. He discussed the impacts of the lack of housing affordability on those in the rental market.