Australia Day Brochure Drops in Prime Minister’s Electorate Response to House Price Bubble
Brisbane, Qld, 25 January 2010 – This Australia Day, Australians concerned about the house price bubble are
delivering 20,000 brochures in the inner south Brisbane electorate of the Prime Minister Kevin Rudd.
highlight the size of the Australian house price bubble and to detail the causes and consequences of the bubble to all
Australians.
On the front page is a graph from the Reserve Bank of Australia showing that Australian house prices relative to
household disposable income has been higher than in all other major English-speaking countries for nearly three
decades.
Below the RBA graph the reader is challenged to consider “Is this really what you want for our country and our kids?”
Dr Brett Edgerton, a former research scientist and founder of the website homes4aussies, said “there is no better time
for Australians to consider whether we really want to give up on our ideal of a fair go for all – a proud egalitarian past
–
for the entrenchment of a two-tiered society.”
“The media has been littered over the last several years of stories of everyday Australians being squeezed by
skyrocketing house prices and rents. At the same time, we have our politicians enacting policies which have continued
the bubble and increased the pressure on those vulnerable Australians.”
The brochure includes several other graphs to support and underline the extent of the problem. It draws heavily on
research and analysis by the RBA and Dr Steve Keen, as well as the recent book “The Great Crash of 2008” by Prof.
Ross Garnaut in which he unequivocally states that Australia has a massive housing bubble on its hands.
Donations received through Bubblepedia have funded printing of 50,000 brochures as well as the Australia Day
deliveries in the Prime Minister’s electorate of Griffith.
The house price bubble and consequent housing affordability crisis is a key electoral issue in this election year,
especially in the electorate of Griffith where 42% of households rent. This is well above the national average of 27%
and is one of the highest levels of any electorate in the country.
The remaining brochures are being dropped into mailboxes throughout Australia by volunteers. Moreover, electronic
copies of the brochure are available on the websites for viewing, printing and further dissemination.
Dr Daniel Cox, a Sydney anaesthetist and founder of Bubblepedia, said “We intend to snowball this effort right up to
the federal election, targeting marginal electorates for additional letterbox drops.”
“Throughout human history all speculative bubbles have popped and it is highly unlikely that our house price bubble
will be different. The Government throwing good money after bad on continuing it – thus continuing the pain of the
housing affordability crisis for many, and setting us up for future tax increases and reductions in Government services
–
is certainly a lose-lose situation for Aussies” said Dr Edgerton.
For additional information “Community Responds to House Price Bubble with Australia Day Brochure Drops in
0408 839 296
ABOUT – Bubblepedia and homes4aussies are websites which presents the facts and debunks the myths surrounding
housing in Australia. Bubblepedia has an active blog as a platform for sharing information and ideas relevant to the
housing bubble.
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