FEAR & GREED | Business News Ask Fear & Greed: Why don't govts just build more homes?
Jun 10, 2025
Delve into the complexities of the housing crisis and the reasons behind government hesitance to build more homes. The discussion reveals the historical and current factors influencing social housing in Australia. Skilled labor shortages and zoning restrictions emerge as significant hurdles. Additionally, the hosts emphasize the balance needed between government initiatives and market-driven solutions to meet housing targets by 2029.
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Decline of Australian Social Housing
- Social housing in Australia has declined from about 6% of households to under 4% over the last 20 years.
- There are currently 165,000 applicants waiting for social housing, illustrating a large shortfall in supply.
Home Ownership Culture Impact
- Australia's cultural emphasis on home ownership since WWII contributed to reducing public housing supply.
- Private sector housing provision was expected but is currently not meeting demand adequately.
Housing Target Challenges
- The government has lofty housing targets but actual building approvals lag behind needed levels.
- Multiple hurdles like tradies shortage, bank lending, local zoning, and land availability hamper achieving housing supply goals.