7am Labor vs the Coalition: Which housing plan is worse?
7 snips
Apr 22, 2025 
Mike Seccombe, the national correspondent for The Saturday Paper, dives into the challenging world of housing affordability in Australia. He critiques the housing policies of both the Coalition and Labor, revealing how their plans may only worsen the crisis. The discussion compares political promises with the harsh reality faced by young aspiring homeowners. Seccombe also highlights a controversial proposal allowing access to superannuation for home purchases and warns about the implications of tax deductions on mortgage interest, raising concerns about rising inequality.
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Harry Dutton's Home Buying Anecdote
- Peter Dutton's son Harry spoke about his struggles to save for a home to humanize Dutton.
- Despite this, Harry's wealthy father eventually admitted he would help with deposits, revealing market reliance on parental support.
Super For Housing Risks Inflation
- The Coalition's super home buyer scheme lets first home buyers withdraw up to 40% of superannuation to fund deposits.
- This policy inflates demand and house prices while threatening retirement savings, according to economist Saul Eslake.
Mortgage Interest Deductibility Concerns
- Coalition's mortgage interest deductibility on first $650,000 lowers effective interest rates by a third.
- This policy will increase borrowing and house prices, disproportionately benefiting higher earners and worsening affordability.