Australian housing crisis to worsen massivley in next 5 years

The Aussie housing shortage has suffered immensely recently. The longstanding annual number of between 18,000 to 22,000 has blown out since the covid debacle. And currently stands at around 38,000. That number is the shortfall between people who need housing, and housing availability. Despite having no migration for 2 years the numbers still managed to almost double. This large increase is due in total to the knock on effects of the ridiculous restrictions and lock downs that caused shortages in material supplies, as well as families and companies succumbing to financial failure. And now 12 consecutive interest rate rises and a determined effort to cover up the true inflation figures by government, have essentially created a problem that is definitely not fixable in the near future (3-5 years) This figure of 38,000 is set to explode again, with the government deciding to double our migration intake over the next 12 months. This will mean and increase from 197,000 in 2020 (Australia having been essentially closed to immigrants for 2 full years) to 400,000 in 2023 financial year. On average there are 2 people for every visa issued, adults need a visa but kids do not; If we assume the previous ratios continue, then 100,000 will be singles on working holidays, only needing short term accommodation. That still leaves 600,000 people who need homes, or around 190,000 new requirements for homes. Even with a magic wand, it will be impossible to make that happen in the timeframe without some very fast removal of the majority of the red tape issues that we as developers have the pleasure of wading through daily. If we look at filling every empty rural property, that would only reduce the required residences number to 164,000. If we take into consideration the quarantine camps that were built across Australia using around $800 million of taxpayers’ money, that would remove another 9,000 people from the list. This will still leave 161,000 homes which need to be constructed by June 2024. The use of these facilities would not be appropriate for the genuine hard working migrants because of the remoteness which would lead to difficulties in finding work, and the fact that these facilities are very small and designed only for temporary use. Although the Aussie spirit is traditionally strong; the “She’ll be right mate” attitude has now gone and the masses are becoming uneasy. I expect to see a very quick increase in the numbers of temporary and make do habitats over the next 3 years, from vans and caravans to sheds, garages. and containers, If we all muck in and make some room in our oversized houses, we can help a person or small family out, while at the same time making a little cash for ourselves. Our other alternative is to overthrow our greedy and corrupt representatives, remove them forever and just follow natural law, which would save us an awful lot of tax at the very least.