Australia’s housing woes are causing policymakers, investors and households to make decisions they might not ordinarily make. But to fix it, we need to escape a vicious cycle.
But having arrived here as a student himself from Bangladesh at the age of 18, he couldn’t resist speaking up in favour of transformative benefits of one of Australia’s most important exports.
“It’s a derivative of the fact that the housing’s perceived to be, or is, very tight in those locations. We’ve underbuilt housing, and the idea is that these students have dislocated Australians that would otherwise have had access to housing, or access to housing at a lower price.It’s a small but telling example of how Australia’s housing woes are seeping through the economy, and causing policymakers, investors and households to make decisions that they might not ordinarily make.
Why does the country need so much infrastructure? In part, because of bigger populations, which now sprawl across larger areas of our city. For example, Federal Housing Minister Clare O’Neil, who told the Summit that 90,000 workers were needed “to get the houses built that we need”, is working on improving visa processing times and providing a pathway to permanent residency for skilled tradies.
“All governments should work together to reprioritise capital spending based on merit while freeing up capacity in the construction sector and containing cost pressures,” it said in a report this week.
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