Advertisement
The ‘Yes in My Backyard’ (YIMBY) movement argues that the solution to Australia’s crisis lies in upzoning our cities to permit high-rise apartments in more locations.
They believe that blanket approval of high-density apartments will magically increase supply, ignoring how the development system actually works.
The Herald-Sun highlighted the problem, with a major gap developing between planning approvals and actual construction in Melbourne, leaving buildings vacant, lots empty, and half‑started sites abandoned across multiple suburbs.
The full text of this article is available to MacroBusiness subscribers
Cancel at any time through our billing provider, Stripe
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.
Advertisement