How Australia’s property obsession is damaging the entire economy


Monitoring the ups and downs of property costs on this nation is a nationwide sport. Our TV bulletins are more and more crammed with photographs of renters struggling to search out even a dodgy one-room bedsit to name house.

As soon as a month, the nation holds its breath to see if the Reserve Financial institution goes to whack everybody with one other rate of interest improve.

However what if the housing market was much more of an issue? What if the complete financial system was being eaten by a property monster?

Effectively, there’s rising proof that the whole lot – from the power of a enterprise to get employees, to the variety of children we’re having – is being distorted by a property monster that’s getting bigger and hungrier.

Senior economics correspondent Shane Wright explains the ‘housing concept of the whole lot’ on this video, illustrated by John Shakespeare.

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