Yes, Aidan. I meant household debt.

'Yes the young have been largely priced out of the housing market!'

Where there's a will, there's a way....and I don't mean wishful thinking
Bleating is the excuse.

Alan B.,
What you regard as economic illiteracy on my part is actually a comprehension failure on your part. I don't mean a land sales tax; I mean a land value tax. Because people know they'll be paying the land tax, they wouldn't be willing to pay so much for houses, so house prices would fall.

And your "unavoidable" tax system would be very costly for business. They would find ways to avoid it, though, involving offshoring a lot of their activity.

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ttbn,
Considering most household debt is to cover the cost of the house, do you wish to revise your previous post?

Add to the household debt, the hidden debt of rent paid by lessees.

Not many (I would estimate), borrow money to pay rent, since rent is invariably paid from disposable income. However, that shifts the burden it is, onto borrowings to pay for other essentials through credit cards and personal loans.

Rent is a hidden debt to some degree, which should correctly be assigned to housing finance.
If this were done, we may achieve a more accurate “ realistic cost” of Australian housing overall.