John Howard (Bennelong, Liberal Party, Prime Minister) Share this | Hansard source

In the case of the Manager of Opposition Business, who makes a point of order, I would have thought a question about repossession action does relate to housing affordability. This is what he had to say about houses being less affordable. This could be a very good answer for the member for Werriwa:

Mr Macfarlane—They are. That is caused more than 100 per cent by the fact that house prices have gone up, not because of interest rates going up. Interest rates are lower than they were 10 years ago and are obviously lower than they were 15 years ago.

Dr EMERSON—

that is the member for Rankin—

But affordability is no different?

Mr Macfarlane—The story is all about house prices. The story is not about interest rates.

End of story.

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