Why Gonski is wrong about house prices

David Gonski's comments that only a fool thinks house prices always go up add little to the broader discussion. The real issue is whether buying property enhances wealth.

David Gonski made a ridiculous comment last week when he stated, "The fact is, anyone who believes [house] prices always go up is, I think, a fool". It’s vacuous, because no one actually believes that as literal fact. I've not heard nor read anyone ever suggest house prices always rise -- not even the most aggressive spruiker -- and comments like that make no contribution to the broader policy discussion.

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