The Joe Walker Podcast
Peter Tulip — What Will It Actually Take to Solve the Housing Crisis? [Aus. Policy Series - LIVE]
Mar 25, 2025
In this discussion, Peter Tulip, Chief Economist at the Centre for Independent Studies and a former researcher at both the Reserve Bank of Australia and the US Federal Reserve, tackles the Australian housing crisis head-on. He sheds light on the complexities of NIMBY sentiments and the restrictions imposed by heritage laws. Tulip argues for a cultural shift necessary to balance housing supply with demand and critiques zoning regulations that hinder development. He proposes innovative ideas, including 'street votes,' to facilitate community engagement in housing negotiations.
01:45:01
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Quick takeaways
- The housing crisis in Australia, exacerbated by zoning regulations and local opposition, has significantly outpaced income growth and affordability.
- A long-term cultural shift is essential to overcome the fear of new developments, enabling a more abundant housing supply and addressing NIMBY attitudes.
Deep dives
The Historical Context of Housing Affordability
Historically, essential goods were scarce and expensive, with most personal spending directed towards necessities like food. This changed after the industrial revolution when innovation led to increased abundance in many sectors, although housing has defied this trend. In Australia, the cost of housing, particularly in cities like Sydney and Melbourne, has significantly outpaced income growth, tripling in the last quarter-century. This has resulted in a housing crisis characterized by unaffordable prices, affecting people's ability to live close to work, reach financial stability, and maintain familial connections.
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