This slow train has been coming for 40 years. Have we had a 40 year supply problem? It is now the greatest issue this country has faced in a generation. It is almost uniquely an Australian problem and was created by small minded, greedy, short term political thinking. It now takes decades to save a deposit whilst paying jacked-up rents to slum lords.
Who in their right mind acknowledges it is a problem.... then introduces a First Home Owners Grant, which naturally then doubles the size of the problem. 1 single piece of legislation caused house prices to double over 2-3 years...... you simply cannot combat such idiocy with supply.
