Newspaper article The Queensland Times (Ipswich, Australia)

Oversupply in the Housing Market Not Such a Bad Thing

Newspaper article The Queensland Times (Ipswich, Australia)

Oversupply in the Housing Market Not Such a Bad Thing

Article excerpt

IN AN otherwise well-balanced article, there just a tinge of "deplorable negativity" in a front-page newspaper article I read recently, warning about a so-called "oversupply" of new housing in Ipswich.

There are more houses for sale than so-called "investors" might want the article says, so the prices will drop and renters and first-home buyers will stand a better chance of an affordable home.

What's not to like?

Local businesses find their customers have more money to spend and therefore everyone benefits.

Why, even international businesses might sensibly decide that inexpensive housing for their employees makes Ipswich a good destination for them.

So is an undersupply of housing, where people pay more because of scarcity, better than Ipswich's present oversupply?

Should we keep the present council, which is clearly responsible for this "oversupply" of housing and now threatened with the sack?

Will an appointed "administrator" listen to this complaint that an oversupply of housing is somehow "bad" and slow down on approvals for new housing in Ipswich?

Less expensive housing in Ipswich seems to be the result of the free market in operation and if housing developers aren't making money they they will just stop putting in development applications.

Do we really need to read poorly-disguised pleas for intervention in this free market on behalf of real estate interests, plainly only interested in higher profits?

Conservative politicians, supporters of the "free market", when it suits them, seem to want this council sacked.

JAMES HILL

Redbank Plains

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