Ross Cadell (NSW, National Party, Shadow Minister for Water) | Hansard source

The question today specifically around housing was quite an interesting one. While we hear lots of diversions and lots of thoughts about everything else going on in the country, let's talk about housing. The ANZ has predicted a 10.6 per cent drop, peak to trough, in housing values. To put that into some perspective, if you take the value of housing across Australia to be worth over $12 trillion, what this government is overseeing is the loss of almost $1.3 trillion in the wealth of Australians.

Everyone says: 'What's $1 trillion? I don't know what a trillion dollars is. What does it buy? What does it do?' Let me put it this way: every single Australian, from the newborn to those taking their last breath—everyone—will be $48,000 poorer because of these policies. And they say this is a good thing. The single best—