Australian PM, Anthony Albanese, found himself in hot waters with his new purchase while the housing crisis in the country became worse.
Recently, it was revealed that Albanese purchased a waterfront home located in Copacabana worth USD$2.9 million (AU$4.3 million).
Per AP News, this earned the Australian PM critics, who argued that he's disconnected from Australians struggling with rising house prices, interest rates, and housing availability.
However, Albanese dismissed the criticisms and instead emphasized his focus on supporting Australians through rental assistance, homeownership initiatives, and public housing.
Australian PM Buys Million-Dollar House Despite Housing Crisis
Copacabana is no stranger to million-dollar waterfront homes, typically owned by people from Sydney who either maintain city residences or have chosen a quieter lifestyle.
Opposition lawmakers believe Albanese could've implemented better policies to assist Australians wanting to buy homes, like him.
Meanwhile, cabinet minister Chris Bowen has supported Albanese, suggesting his critics separate their views on his policies from his personal choices.
Impact of Albanese's Million-Dollar House
According to BBC, Albanese's Labor Party aims for a second three-year term in the May elections. But his "disconnect" from the housing crisis could change the tide.
Political experts believe buying a beach pad is risky as elections get nearer and voters are dead set on raising housing affordability concerns. The report showed that the Australian PM earns USD$400,000 (AU$600,000) annually, which led to more backlash on how he could afford the house. But Albanese clarified that he only bought the house because his fiancee lives on the Central Coast, while he's in the official prime minister's residences in Canberra and Syndey.
Currently, properties in Australia are one of the most expensive in the world and have increased by 32.5% over the last four years.
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