Is Increased Housing Supply the Real Solution to this Housing Crisis?

The Elephant In The Room Property Podcast | Inside Australian Real Estate

Could increasing housing supply alone effectively address our current affordability challenges, or is the housing crisis more accurately characterised as just a recurring issue with a new label?

In this episode, we sit down with Dr. Cameron Murray, Chief Economist at Fresh Economic Thinking who specialises in property and urban development. We dive into the question of whether the term "crisis" accurately captures the challenges of the housing market, or if it's a situation we've already faced before under different names.

Dr. Murray's new book, "The Great Housing Hijack," takes a critical look at the misconceptions driving up prices for both renters and buyers. We discuss whether simply building more houses is the key to solving the problem, or if there are deeper issues at play that need to be addressed.

We've included a lot of relevant topics in this conversation including zoning changes and alternative solutions to the housing crisis, so tune in to get a clearer picture of the complex issues surrounding these property market issues.

Episode Highlights:

00:00 - Introduction

01:14 - Who is Dr. Cameron Murray?

02:03 - What motivated Cameron to write the book “The Great Housing Hijack”?

06:06 - How do market equilibria affect the perception of a housing crisis?

14:32 - Why zoning changes won’t immediately create a development boom

17:14 - Who can assist with funding for housing development?

23:24 - Why Cameron disagrees with those who cite Auckland as proof that rezoning works

28:23 - Analysing the interplay between human behaviour and housing market trends

34:36 - Cameron shares his thoughts around NIMBY-ism

38:52 - Assessing factors that could stall long-term housing trends

46:24 - Why is the assumption that supply alone can solve the housing crisis flawed?

51:13 - Should public housing be considered as a potential solution for affordability issues?

55:57 - The importance of government action in ensuring access to affordable housing for all

59:29 - Potential strategies for government intervention to address housing affordability issues

1:01:13 - Cameron Murray’s property dumbo

About Our Guest:

Dr. Cameron Murray - Chief Economist at Fresh Economic Thinking who is a leading voice in Australia's housing conversations. He recently authored the book "The Great Housing Hijack." With experience as both a renter, homeowner, and landlord, as well as in property development, Dr. Murray brings a practical understanding to his analysis of housing issues.

Connect with Cameron Murray:

• Website https://www.fresheconomicthinking.com/
• LinkedIn https://www.linkedin.com/in/cameron-murray-39b63017/
• Facebook https://www.facebook.com/fresheconomicthinking/

Resources mentioned in this episode:

• The Great Housing Hijack: The Hoaxes and Myths Keeping Prices High for Renters and Buyers in Australia https://www.amazon.com.au/Great-Housing-Hijack-keeping-Australia/dp/176147085X

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