I was amused to hear Dan Tehan both cheering for falling house prices and bewailing the fact they are falling.
We have a housing affordability problem and this has come about because housing prices have raced ahead of wage increases.
Thus either wages have to increase bigtime , which is impossible because of the inflationary consequences, or housing prices have to fall. Read THIS article
Thus far housing prices have started to fall ( because of rising interest rates) and this has contributed marginally to reducing affordability. The main target is to reduce housing prices without inducing a recession.
This is why most people would like to see housing prices continue to fall!
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