Australia's housing market is in turmoil, but can it be fixed? In this episode, we sit down with respected financial journalist Alan Kohler to delve into the roots of this ongoing crisis and explore potential solutions.
Alan shares his insights on why first-time home buyers today face far greater challenges than those in previous generations and how the housing sector has become a critical pillar of Australia's economy, unlike in many other nations.
We also dive into Alan's provocative assertion that housing wealth is both “meaningless and destructive.” What does he mean by this? How can something that seems so vital to our financial security be harmful in the long run? Alan unpacks a fresh perspective on the true cost of our housing obsession.
His unique take on the interplay between housing and the economy provides valuable insights for anyone concerned about the future of homeownership and economic stability in Australia. This episode is essential listening for those looking to understand the broader implications of our housing policies and what changes are needed to secure a more equitable future. So tune in now!
Episode Highlights:
00:00 - Introduction
01:05 - Who is Alan Kohler
01:35 - Has alan shifted his stance on the housing affordability issue?
04:32 - The societal impact of high house prices on the market
14:11 - How are zoning changes impacting the marginal buyer in real estate?
18:18 - Will setting development targets & rezoning lands be enough to address housing needs
24:17 - Is the current housing allocation system inefficient?
26:47 - Is it easier for politicians to pass policies for investors rather than homeowners?
30:56 - Do recent tenancy reforms fail to balance support for tenants and landlord flexibility?
35:40 - Is investing in property part of the Australian national psyche?
38:51 - How Alan's research impacted his perspective on future growth or risks
43:18 - Why encourage build-to-rent over build-to-sell?
47:24 - Is there a relationship between the lack of a recession and house price growth?
53:37 - Housing wealth is both “meaningless and destructive”
55:32 - Alan Kohler’s property dumbo
About Our Guest:
Alan Kohler is one of Australia's most experienced commentators and journalists, a television personality, and a former newspaper editor. He is the former editor of The Australian Financial Review and The Age, and was business and economics editor of The 7.30 Report. In addition to being CEO of Eureka Report and Business Spectator, Alan is the finance presenter on ABC News and host of Inside Business on ABC TV.
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