First, he suggested that if housing were unaffordable then nobody would be buying it. Well that makes perfect sense. If certain people, however wealthy they may be, or whatever other sacrifices they make, or however much debt they plunge themselves into, can buy something, then it is ipso-facto, affordable, right? Simples!
Then he outdid himself by advising young first home buyers that “the starting point for first home buyers is to get a job that pays good money.”
See? Now why didn’t YOU think of that? Just go and get a good job that pays good money. I had always wondered why so many people work awful jobs for low pay. It turns out it was because nobody told them to get something better. Nobody knows how he expects everyone to do this without further inflating the market and how it squares with one of Australia’s biggest industrialist’s suggestion that Australians are paid far too much.
Of course, such questions are the natural product of thinking things through, something the treasurer obviously didn’t do.
My advice to Joe Hockey:
If you’re going to deliver economic advice based on Pink Floyd lyrics, leave the album going and listen to the next song.
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