Home ownership - dark side of the boom

Labor does not pretend that these are simple issues, but we reject the false notion that governments have to make a choice between protecting the interests of mortgage holders and ensuring that first home buyers can get into the housing market.

By investing in skills and infrastructure we can keep downward pressure on inflation and interest rates. By planning for the future, we can soften the boom-bust cycle that does no one any favours.

And by using our resources in innovative ways, we can help those who need it most. At a recent housing ministers' meeting the Labor states proposed shared equity and rent/buy schemes to bolster home ownership for low and middle income Australians. The Howard Government refused to even discuss the matter for another six months.

Strong national leadership is essential if we are to ensure that young Australians who work hard can one day buy a home of their own. The Howard Government has failed to provide this leadership.