This country has a severe supply-side problem and there is no one thing that will solve this in the short or medium term. The only other way is to reduce demand. Interest rates are having limited success, and the plebs will kick out the government if this is seen to be the solution. The quickest and most painless way therefore is to slash migration right now. This will reduce demand on housing as well as aggregate demand in the economy, also getting inflation down. But the major parties are all for a "Big Australia" to power economic growth, being too politically gutless to embrace productivity enhancements as the necessary alternative. I'm so glad I'm not looking for a roof over my head right now or into the foreseeable future.
