The housing industry needs more physics/arithmetic, not economics. Same number of people, same number of dwellings -- how can any housing shortage be alleviated? Only by magic. The problem lies in the huge range of desirability of the land component of housing, primarily where it is. More desirable = more expensive. As the population rises, the number of desirable properties stays constant. So they get more expensive and the richest get the most desirable, the poorest the least. How can it be otherwise? As night follows day. "Solutions" to the housing problem are exercises in magical thinking.

The author wrote, in response to the housing policies of the Coalition and the socialists (now the Federal Government): "The problem with these sorts of schemes is that they increase demand – putting upward pressure on house prices – while doing nothing to address supply".

This should be the starting point in any program (that will deal with both Demand and Supply issues) whose aim is to make housing more affordable. And it's an easy place to start which will have near term positive consequences: restrict foreigners from buying any residential property, say costing less than (here someone should pick a figure that will not imperil Australians trying to get into the housing market). Only above that figure should foreigners be allowed to buy.

I wasn't aware that foreigners should be buying property in Australia at all- from memory there were enforcement issues that the Labor Party didn't stop last time they were in power disappointing that the Coalition probably didn't stop them either- and hence our young can't buy property. There seems to be something "dangerously magical" about our economy. And the Greens would see our entry level properties filled with refugees.

Foreign residents cannot/couldn't buy residential property in Australia.
My son's Father in Law wanted to buy a flat in Melbourne for when they
come to Australia from Britain for 3 to 4 months a year.
He could not do it so he got his daughter to buy it.
As far as I know that is still the rule.
My son later bought a four bedroom house so they sold the flat.

Foreign residents cannot/couldn't buy residential property in Australia.
Bazz,
My view also. If an Australian can purchase land in another country then someone from that country yes but no if not !
Even 99 year leases are nothing short of criminal. Btw. are the morons/criminals who leased out Darwin Port still free ?

I think there's a loophole- foreign students buy property in Australia using parents money- but the government doesn't check to see if they are entitled- certain people benefit from the market increase- some from development- so they keep it quiet- those in the know keep it quiet- Australia suffers- an example of a purity spiral I suppose. In a sense it's a way of funneling funds out of Asia- China and India. If you're been to an auction recently the outbidding is interesting- though much can also be attributed to immigration.

We probably need to start controlling the entry of NZ citizens into Australia- there is an international stream of people coming through NZ.