ASIC has revealed that 10 Australian building firms are still collapsing at a rate of 10 per day. Simply put, with circa > 2,500 building firms having already gone belly up over the last 3 years and the current attrition rate of 10 per day, it could take up to a decade for Australia to catch up on the severe housing deficit. So, save a black swan event the above dynamic may perpetuate the high cost of real estate into the foreseeable future based on the economic principle 101 of demand V supply. Indeed, even now with IR's still high relative to the cost of property, the RE market remains buoyant. And so far, the issue of affordability seems to be a moot point.
