The Australian Financial Review --- Page: 62 : 16 July 2007 Original article by Michael Baume
ABIX Summary
The Australian Labor Party has misled the public about the extent of "mortgage stress". In mid-July 2007, Labor leader Kevin Rudd revealed data showing that there is a housing affordability crisis and mortgage stress. The media assisted his tactic of raising discontent and distracting voters from the country's prosperity. Rudd's data ignored the view of the Reserve Bank, which believes that there is little evidence that households are struggling to service mortgages, and other economic data on the growth of household assets.
