The Great Housing Hijack The hoaxes and myths keeping prices high for renters and buyers in Australia

Everyone claims to want affordable housing, but no one wants cheap housing. While Australians on regular incomes dream of lower rents and prices, the housing policy debate has been hijacked, sailing further away from workable solutions. Leading economics commentator Cameron Murray reveals how property insiders shape the housing market and its policy settings. He explains what property developers really mean when they call for more supply in order to provide affordable housing. He shows why landlords and the real estate industry resist rent controls and why the tax and first home buyer policies of the main political parties achieve little for first home buyers. The hoaxes created by the Housing Cheer Squad hide the brutal truth: for every winner in the property market, there is a loser. For anyone who wants to truly understand the housing market in Australia, The Great Housing Hijack is essential reading. Drawing on the best housing policies around the world, Murray shows how Australia could create a genuinely affordable housing program without compromising the interests of existing property owners.

Dr Cameron Murray is Australia's leading expert commentator on housing. He is an economist and co-author of Rigged, and runs his own think-tank, Fresh Economic Thinking. He has been a tenant, a home owner, and a landlord, and he has worked in property development.

List of figures Property problems 1. Dwelling dreams 2. Property principles Five housing market equilibria 3. Asset price equilibrium: Where do prices come from? 4. Rental equilibrium: Why incomes determine rents? 5. Spatial equilibrium: Why location matters 6. Density equilibrium: How tall should we go? 7. Absorption rate equilibrium: What determines the rate of new housing development Housing Hijackers 8. Politics and politicians 9. Academics and policy wonks 10. Muddled media 11. YIMBY Yammer Distractions and distortions 12. Mismeasuring manors 13. Skipping the cycle 14. Proper planning 15. Immigration inspection 16. Vacant villages 17. Rental rules Hoax housing policies 18. Supply superstitions 19. Zoning zealots 20. Financial fixes 21. Favoured first home buyers Course corrections 22. Managing monopolies 23. Perfecting property 24. HouseMate 25. Future foresight Glossary Acknowledgements Notes