Home building turns generational disaster

David Llewellyn-Smith

Thursday, 1 February 2024

Albo’s housing disaster gets worse by the day. Building approvals just crashed again.

The December 2023 seasonally adjusted estimate:

Total dwellings approved fell 9.5%, to 13,085.

Private sector houses fell 0.5%, to 8,416, while private sector dwellings excluding houses fell 25.3%, to 4,354.

Albo’s housing goals are so far underwater it’s not funny. Immigration must be cut hard, or this will become a generational disaster.

If it is not one already.

About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.