A hard copy of your written assignment is to be submitted into your lecturer’s locker on level 4 by...

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A hard copy of your written assignment is to be submitted into your lecturer’s locker on level 4 by the due date and time. You will need to include an Assignment Cover Sheet, available from the portal, under “Forms”. Assignments received after the due date or without a completed and signed Assignment Cover Sheet will be penalised accordingly. N.B. Late extensions will generally not be granted unless there are exceptional circumstances and can only be granted by the Unit Coordinator. Graphs should be clearly presented with relevant axis labels and a title given to each graph. Diagrams may be hand-drawn, though you are strongly encouraged to draw them electronically using the feature Insert ? Shapes ? Line in MSWord. You can also search YouTube for “Drawing demand and supply diagrams in Word” for assistance. Your assignment should include footnote identification (name and student ID) on the bottom left hand side, and page numbers, on the bottom right hand side of the page. Use size 12 font for your assignment and use bold font for the question numbers/parts. Include at least three(3) authored and scholarly references for your assignment. Up to four (4) marks will be deducted for insufficient referencing, incorrect in-text citation and for not following the list of instructions below. Submission Checklist ? Have you printed and stapled a signed cover-sheet with your lecturer’s name to the front of your assignment? Have you adhered to the specified word-limit? Your name and ID are footnoted on the bottom LHS of each page, with page numbers on the RHS Your font size is 12 point Your assignment is printed single-sided? Have you referenced at least 3 authored, reliable sources in your assignment? 2 The aim of this assignment is to examine the issue of ho
	
Document Preview: Deakin College/Deakin University XXXXXXXXXXMAE101 Economic Principles XXXXXXXXXXTrimester 1.2017 
Individual Written Assignment: Assignment 1 – Housing Affordability 
Assignment Weighting 10% (Total Marks 20 scaled to a mark out of 10) 
Word Limit – XXXXXXXXXXwords (excluding graphs, tables, footnotes and reference list) 
Due date: (Week 9) Monday, 8 May 2017 at 5pm to your lecturer’s locker on Level 4. 
A hard copy of your written assignment is to be submitted into your lecturer’s locker on level 4 by the due 
date and time.  You will need to include an Assignment Cover Sheet, available from the portal, under 
“Forms”. Assignments received after the due date or without a completed and signed Assignment Cover 
Sheet will be penalised accordingly.  
N.B. Late extensions will generally not be granted unless there are exceptional circumstances and can only 
be granted by the Unit Coordinator. 
Graphs should be clearly presented with relevant axis labels and a title given to each graph.  
Diagrams may be hand-drawn, though you are strongly encouraged to draw them electronically using the 
feature Insert ? Shapes ? Line in MSWord. You can also search YouTube for “Drawing demand and supply 
diagrams in Word” for assistance. 
Your assignment should include footnote identification (name and student ID) on the bottom left hand side, 
and page numbers, on the bottom right hand side of the page. 
Use size 12 font for your assignment and use bold font for the question numbers/parts.  
Include at least three(3) authored and scholarly references for your assignment. 
Up to four (4) marks will be deducted for insufficient referencing, incorrect in-text citation and for not 
following the list of instructions below. 
Submission Checklist                                                                                    ? 
Have you printed and stapled a signed cover-sheet with your lecturer’s name to the front of your  
assignment? 
Have you adhered to the specified word-limit?  
Your...

Robert · Accepted Answer

Question 1 – Article Analysis  
i. Read the following articles and write a summary of each article that highlights the main economic 
issue(s) being discussed.
“RBA governor Philip Lowe only sees one way to solve Australia's housing affordability problem” at 
https://www.businessinsider.com.au/lowe-housing-affordability-2017-4
Summary of the article:  
The article RBA governor Philip Lowe only sees one way to solve Australia's housing 
affordability problem written by DAVID SCUTT published in The Business Insider on April5, 
2017  gains a deep insight about the potential solution of the affordability problem in Australian 
Housing market. Reserve Bank of Australia (RBA) governor Philip Lowe, in his current speech, 
made it very clear that the issue of imbalance between the demand and supply must be addressed 
properly while improving the affordability problem in Australia. Since supply fails to keep pace 
the demand, a huge demand –supply imbalance persists in the market eventually causing the 
housing price to surge. Strong population growth is the key driver behind the massive demand 
for housing – a consistent rise in demand with no response from supply side is the key 
underlying factor behind the price gain in cities like Sydney and Melbourne. Lower cost of 
borrowing and continued capital gains encourages more people to buy residential property.  
Driven by the speculation of further price gain, a growing number of investors find it attractive 
to invest on housing property, further exerting an upward pressure on property. Lowe strongly 
opposed the view that interest rate cut by RBA has been fueled the rise in housing price anyway. 
Though it is important to address the supply-side, he advocates the supply side factors will take 
substantial time and can only solve the affordability problem in the medium term. He provides 
clear indication that controlling the demand side factors is the only potential solution now. 
Limiting tax concessions or putting restrictions in immigration level involves some amount of 
political risk but changes to foreign ownership laws can be considered as an immediate solution 
to improve the housing market affordability problem in Australia. (SCUTT, 2017)
Sydney squeeze: Is rent control the answer to the housing affordability crisis?” at 
http://www.abc.net.au/news/2017-03-21/sydney-squeeze-affordable-housing-rent-control-
options/8370364 
Summary of the article: 
The article Sydney squeeze:

A hard copy of your written assignment is to be submitted into your lecturer’s locker on level 4 by the due date and time. You will need to include an Assignment Cover Sheet, available from the...

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