Uncomfortable Conversations with Josh Szeps PREMIUM: "Has Home Ownership Become Hereditary?" with Peter Tulip
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Sep 4, 2025 In this engaging discussion, Peter Tulip, former economist at the US Federal Reserve and now chief economist at the Centre for Independent Studies, tackles Australia’s housing crisis. He delves into the intricacies of supply and demand, dissecting why home ownership seems increasingly out of reach for young people. Tulip also highlights the impact of heritage regulations on development and compares infrastructure challenges across continents. With a blend of personal anecdotes and economic insights, he explores potential solutions to make housing more accessible.
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Small Annual Gap, Huge Long‑Run Gains
- House prices in Australia have risen about 2.5% faster than inflation over many decades.
- Compounded, that small annual gap produces very large long-run price increases.
Scale Matters For High‑Rise Supply
- Large-scale taller building can substantially improve affordability if done at scale.
- Current tall-building supply is far too small to dent prices meaningfully.
Raise The Bar For Heritage Listing
- Rebalance heritage criteria to weigh benefits versus costs before preservation.
- Raise the threshold for listing so ordinary suburban buildings near transport aren't locked in forever.