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The Party Room
How do we fix the housing crisis?
Jan 8, 2025
Brendan Coates, Housing and Economic Security Program Director at Grattan Institute, sheds light on Australia's housing crisis, where homes cost eight times the median income. He discusses the urgent need for housing reform amid rising rents, advocating for changes in tenancy laws and the role of institutional investment. Coates emphasizes the emotional toll on citizens and the impact of political failures, urging comprehensive strategies to enhance affordability and accessibility. Voter frustrations and the shifting landscape are also key topics as elections draw near.
31:00
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Quick takeaways
- The Australian housing crisis has made homeownership increasingly unattainable for younger generations, requiring around 12 years to save for a deposit.
- Political consensus exists on the need for housing reform, but debates continue over the best approaches to address both ownership and renters' rights issues.
Deep dives
The Acute Housing Crisis
Australia is currently facing an unprecedented housing crisis, with affordability at its lowest in decades. The discussion highlights the stark reality that the dream of homeownership is increasingly unattainable for younger generations, as it now takes about 12 years for the average person to save for a median house deposit. Rising rents, which have surged over 20% in the past two years, exacerbate the situation, making it difficult for many to secure basic housing. This crisis is felt across all demographics, impacting not just young people but also their parents and grandparents, who are concerned about their children's future.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode