build them and they will come...

New building approvals hit fresh high

http://www.news.com.au/money/property/new-building-approvals-hit-fresh-high/story-e6frfmd0-1225862524761?from=public_rss

Build them and they will come. Yet housing finance figures have slumped since the start of the year. They are no longer coming.

With housing supply rising and demand falling this makes a complete mockery of the supposed housing shortage argument.