Why is the housing crisis always about supply and not demand?

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The Financial Review property summit was held last week, which contained the usual bluster on the need to lift Australia’s housing supply to meet demand.

The summit heaped praise on housing minister Clare O’Neil for the urgency she has brought to the portfolio.

“I think Clare O’Neil is one of the most activist ministers in a generation, and certainly, we’ve never had this level of federal interest in getting the housing supply equation right”, Mike Zorbas, chief executive of the Property Council of Australia, said.

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.