We all know about JobKeeper, which helped Australians keep their jobs in a global crisis. So how about HomeKeeper?

Sat, 6 Jan 2024 19:35:20 +1100

Andrew Pam <xanni [at] glasswings.com.au>

Andrew Pam

"Bipartisan support for temporary extra government spending to preserve
businesses and jobs through JobKeeper was one of the few positive outcomes from
the COVID-19 pandemic.

Recognition that the long-term damage caused by short-term economic crises far
exceeds the cost of temporary government spending to avoid it underpinned that

It’s worth considering now whether the same logic could be applied to create a
“HomeKeeper” program, especially given Reserve Bank Governor Michele Bullock’s
recent message that interest rates could stay higher for longer than expected.

JobKeeper kept businesses open and preserved jobs during the short pandemic
economic chasm.

Equally, HomeKeeper could help financially stressed mortgagors avoid losing
their homes during the current interest rate crunch, and stop them joining
already too-long rental queues – or worse, becoming homeless.

Government could apply vital lessons from JobKeeper’s design flaws too, making
HomeKeeper a winner not just for vulnerable mortgagors but for the government’s
balance sheet too."

       *** Xanni ***
mailto:xanni@xanadu.net               Andrew Pam
http://xanadu.com.au/                 Chief Scientist, Xanadu
https://glasswings.com.au/            Partner, Glass Wings
https://sericyb.com.au/               Manager, Serious Cybernetics

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