The recap of this weeks mortgage, home loan and housing news in Australia.

The top stories for the week ending 04/05/08:

Rent a block: ACT Govt to make land ownership optional for homebuyers
The Canberra Times
I a new approach to housing affordability low income earners moving into the Canberra housing market will have the option of renting the land on which they build their homes under a new scheme to be outlined in the upcoming ACT Budget reports Tom Skotnicki. View Story »

Way to ease the housing bubble
The Age
We need to act now to keep the great Australian dream out of nightmare territory writes Mark Serry. Article takes a look at the current state of the housing market and considers the possibilities of the bubble busting, how we got there and what government policy shouldn’t be doing to help housing affordability and why we need to aim for a slow deflation instead of a pop. View Story »

More to lose their homes
Herald Sun
The weakening housing market has been driven home, with new Victorian data showing a rise in home repossessions and a slide in building approvals. Craig Binnie and Ben Packham present details that Victorian Supreme Court repossession writs show lenders moved to repossess 258 homes last month, compared with 221 in March, 246 in February and 253 in January. View Article »

Building mismatch leaves housing in a hole
Herald Sun
What are we chastising the RBA for, and what should we be asking the State Governments about? Terry McCrann writes that the amount of money lent to buy or build has been skyrocketing although the number of new houses being built is falling. View Article »

Gloomy outlook for property growth as rates rise
ABC
ANZ chief economist Saul Eslake has told ABC 1’s Inside Business program he expects the official rate to be “on hold until probably this time next year, or a bit later, after which we can look forward to falls in interest rates”. View Story »

Be careful what you wish for
Herald Sun
Josh Gordon has an entertaining and thought provoking presentation on what might be the transcripts of a discussion between Treasurer Wayne Swan and Reserve Bank Governor Glenn Stevens on interest rates, inflation and managing public perception…. View Story »