Kevin Rudd today used figures in a Housing Industry Association report to take a swipe at the Prime Minister over housing prices.
The report (see a truncated version here) shows that housing affordability is at an all-time low, and that first-time buyers on the average household wage are forking out 31.7 per cent of their income to pay for a home.
“My challenge to Mr Howard and Mr Costello today is: based on the numbers contained in this report, will they now finally concede that working families are confronting a housing affordability crisis,” Rudd said.
He also took heed of warnings contained in a new IMF report, which downgraded its forecast for world economic growth and says risks to the growth outlook are clearly to the downside.
In light of the report, Rudd said he was mindful of Howard’s election spending.
"I will not be matching Mr Howard dollar for dollar for every promise he makes this election," said Rudd.