Cameron Murray

39

Australia’s addiction to private debt

By Philip Soos and Paul D. Egan A perennial and divisive issue in politics and economics today is the matter of public debt. It is commonly asserted that rising public debt threatens the economy and needs to be reined in. Governments are often portrayed as ‘irrational’ actors when they incur a fiscal deficit, causing unnecessary inflation

236

Housing shortage chimera rises

By Philip Soos and Paul D. Egan Over recent weeks, commentators have repeatedly claimed Australia’s high housing prices are due to a supply shortage. Former Treasurer Peter Costello blamed surging housing prices on a shortage, as did Alan Kohler. Treasurer Joe Hockey has a similar perspective, claiming: It is just an infinite mantra for international

92

The great housing shortage myth

The claim of an Australian land and housing shortage is a myth of epic proportions, perpetuated by vested interests across the media landscape. An Internet search for the phrase ‘Australian land shortage’ produces a deluge of pronouncements confirming this view. Those with an intimate knowledge of property-related data, or with experience in the development industry,