Leith van Onselen quotes Saul Eslake:
Research by Judy Yates of the University of NSW shows that home ownership rates among younger age groups declined dramatically between the 1991 and 2011 Censuses – from 56% to 47% among 25-34 year olds; from 75% to 64% among 35-44 year olds; from 81% to 73% among 45-54 year olds; and 84% to 79% among those over 55…
Eslake also nails one of my pet hates: federal/state intervention in the housing market to boost demand, driving up prices and fueling the housing bubble:
Eslake puts the recent failure of housing supply to keep up with demand down to two main factors, namely:
- The decline in the provision of social housing; and
- Restrictive state and local government planning schemes and upfront charging for development and infrastructure.
Eslake is particularly scathing of policies that boost demand, such as FHB Grants and negative gearing.
Read more at Saul Eslake: 50 years of housing policy failure | | MacroBusiness.