New Zealand's housing market is ill designed to create the surpluses that would force down values. Only the state can change that.
In its latest stimulus measure, the Morrison government will extend its first home loan deposit scheme to an extra 10,000 home buyers.
Grants to home buyers could cost the federal government billions without creating any extra jobs in construction. Investing in social housing is a better approach.
Whether you owned a home or not used to be straightforward. The boundaries are becoming permeable.
The real problem with the government's first home owner deposit scheme is that it won't prioritise those who need the funds the most.
You can't help first home buyers without making other buyers worse off.
Topping up deposits by as much as 15 percentage points will help, but housing isn't risk-free.
New modelling shows negative gearing and capital gains taxes can be reformed in a way that doesn't impact poorer investors.
The budget acknowledges the crisis of affordability for first home buyers, but fails to do enough about demand pressures on prices to put home ownership back within their reach.
Economists struggle to agree on when and where housing bubbles occur, but bubbles all have similar characterisitics.
Think it's hard for first-home buyers? Ask people with an intellectual disability about it.
Declining interest rates has made housing more affordable over the past thirty years, but it has also increased the risk for homebuyers.
The latest thought bubbles about using super savings for housing might be less harmful than in the past, but they would be just as ineffective.
Generation Rent may force a complete rethinking of home ownership as a basis of our housing systems. Rather than representing security, these housing markets make us vulnerable.
People who engage in rent-to-buy schemes might not be protected under law and are often left in unaffordable situations.
Without long-term solutions to the imbalance between incomes and house prices, Gen Ys face a lifetime of renting without the financial and emotional security of home ownership.
Allowing first home buyers to tap their super would worsen housing affordability, leave many people with less to retire on, and cost taxpayers in the long run.
The issues keeping those on low incomes out of the housing market are only getting worse over time.
Real estate is favourably taxed in Australia, and it will continue to bite the housing market unless there is serious reform.
Australia's retirement income system is unsustainable, and there seems little political appetite to tackle the big issues.