As we delve into the deepening housing affordability crisis in Australia, and the conversation starts to shift from the struggles of first-time home buyers to the escalating rental crisis, it's time to examine whether the proposed solutions from our government are truly effective or mere band-aids to a larger problem. In this episode, we delve deep into the housing crisis and explore the obstacles preventing meaningful change. Is it a lack of political will that prevents decisive action? Or are there other roadblocks, such as complex regulatory frameworks or community resistance, that impede progress? Joining us as we attempt to gain insights into the current state of the Australian housing market is Peter Tulip — Chief Economist at the Centre for Independent Studies, whose extensive experience, including his research at the Reserve Bank of Australia and the Federal Reserve Board of Governors, makes him an invaluable resource in understanding the complexities of housing and monetary policy. If you're passionate about understanding the intricate dynamics of the Australian housing market and eager to explore potential avenues for change, this episode is a must-listen. Gain valuable insights from our expert guest as we unlock the mysteries of why housing solutions remain elusive in the Australian housing landscape and discover potential pathways towards affordable housing solutions. Episode Highlights: 00:00 - Welcome 01:47 - Peter’s thoughts on the NIMBY and YIMBY movement 05:12 - What are the solutions to the supply problem? 07:34 - What factors influence builders' willingness to provide housing? 08:55 - Challenges faced by builders and developers in the current market 12:57 - The impact of land tax on the property prices in Australia 21:00 - Factors that contribute to the limited growth of the build-to-rent sector in Australia 27:29 - Is there a lack of accountability among certain councils regarding housing shortages? 28:36 - Successful examples of councils changing their stance on housing development 32:01 - What are the challenges and opportunities of industrial land redevelopment? 38:49 - Are land values and density considerations affecting housing targets in Sydney? 47:37 - What are the shortcomings of the current monetary policy process in the RBA? 51:57 - How has the property market shown resilience despite interest rate hikes? 56:30 - The cause behind the significant shortfall of dwellings in Sydney 58:02 - Peter Tulip’s property dumbo About Our Guest: Peter Tulip has been Chief Economist at the Centre for Independent Studies since 2020. From 2011 to 2020 he was Senior Research Manager at the Reserve Bank of Australia. Before that he worked at the US Federal Reserve Board, the OECD and the Commonwealth Treasury. His research has been published in numerous international academic journals. His recent work focuses on Australian housing policy.  He has a PhD from the University of Pennsylvania. Connect with Peter Tulip: Visit their website: www.cis.org.au/experts/research-scholars/peter-tulip Follow Peter on Twitter: https://twitter.com/peter_tulip Send an email to [email protected] Resources: Visit our website https://www.theelephantintheroom.com.au If you have any questions or would like to be featured on our show, contact us at: The Elephant in the Room Property Podcast -

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