This is specifically about Australia, but essentially all 3 parts of this piece (and related linked essays) sum up how to solve the housing crisis worldwide.

…substack.com/…/how-to-solve-housing-unaffordabil…

Boils down to:

1: change zoning laws to allow more multifamily construction

2: remove incentives for homeownership and generally disincentivize single family homes

3: build for density in ways that reinforce and support density

If you want more info, basically every mainstream economist in the world agrees this is the solution, and that this is a manufactured problem. It’s a result of regulatory capture by homeowners, essentially. There are many, many papers about it.

Here’s an easily-digestible article

businessinsider.com/economist-how-to-fix-america-…

And a well-cited study in an economic journal:

…umich.edu/…/the-economics-of-the-housing-shortag…

All these sources agree, because this is the solution. Realistically, the only bad solutions are subsidizing more demand via things like rent control - these will only make our problems worse.