Albanese Sees Silver Lining in Falling House Prices

The Reserve Bank of Australia's monetary policy board announced yesterday that house prices in some capital cities are falling. Prime Minister Anthony Albanese responded to this news by expressing calm, citing a recent article in the Herald Sun.

In question time, Albanese referenced personal finance commentator Scott Pape's piece, saying 'Somewhere along the way we started treating houses like a share price.'

This quote was taken from Pape's article, which argued that falling house prices are 'the correction we've needed for 20 years'. The prime minister's endorsement of this view suggests he sees the decline in house prices as a welcome change.