The Federal Budget needs to go beyond loans and directly invest in key infrastructure- social and affordable housing

Increasing the government guarantee for the National Housing Finance and Investment
Corporation (NHFIC) by $2 billion is a welcome step from the Federal Government, but only
direct investment in social and affordable rental housing would create homes for the growing
number of families in rental stress and facing rising food and fuel price, the Community Housing
Industry Association (CHIA) has said.

“We welcome the Federal Government’s commitment to extend NHFIC’s lending capacity to
help the community housing industry build more housing. However, lower cost loans on their own
aren’t sufficient to generate the scale of social and affordable rental housing we need. This
budget has recognised the benefits of investing in infrastructure so it is disappointing that social
and affordable rental housing wasn’t included in their plans. As with roads and rail, social and
affordable housing creates value – it delivers significant economic growth, reduces expenditure in
other public service budgets as well as improving the wellbeing of Australian families in desperate
need,” says Ms Hayhurst.“

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