Coalition MP Jason Falinski, who will chair the parliamentary inquiry into Housing Affordability and Supply, penned an article in The AFR lamenting the destruction of housing affordability across Australia and the need to boost housing supply:
The Tax and Revenue Committee’s inquiry is our last and best chance to understand why in 1985, growth in house prices radically accelerated away from underlying inflation. Everything the vested interests told us to try has only made the problem worse: we turned housing commission into social housing, we introduced affordable housing quotas, we discounted capital gains tax, we incentivised first home buyers. We even eliminated immigration for a couple of years.
The problem only got worse.
