Fed: PM says states not interest rates to blame for house costs

AAP General News (Australia)
08-21-2006
Fed: PM says states not interest rates to blame for house costs

JOHN HOWARD says state governments .. not rising interest rates .. are to blame for
the increase in housing costs.

The prime minister says outgoing Reserve Bank governor IAN MCFARLANE has made the point
that the cost of land is the main problem .. and that's gone up seven-fold in two decades.

He's told ABC Radio the high cost of housing .. is down to the failure of state governments
to release enough land to meet demand.

AAP RTV mb/maur/jmt

KEYWORD: RATES HOWARD (CANBERRA)

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