Post by @scottkuru

Everyone keeps saying migration is the whole housing crisis story. It’s not. Even if migration went to zero tomorrow, Australia would still need hundreds of thousands of new homes. Why? Because housing demand is not just driven by population growth, it’s driven by household formation. That is the hidden pressure point most people are missing. Australia built housing for bigger households, but demand is shifting toward singles, downsizers, older Australians and smaller family units. The stock is mismatched, and the gap is growing. So next time someone says migration is the entire problem, remember this: even with no extra people, shrinking household sizes alone would still leave us needing a massive amount of housing.