Housing Crisis: Beyond the Immigration Smokescreen
The housing debate took an interesting turn this week when a property investor with 26 properties tried to blame immigration for Australia’s housing affordability crisis. The irony wasn’t lost on anyone, but it highlighted a deeper conversation we need to have about property distribution in our country.
Living in the inner suburbs, I’ve watched perfectly good houses sit empty for months or even years, while desperate renters compete for increasingly scarce rentals. Within a kilometer of my home, I can count at least ten vacant properties - some waiting for redevelopment, others seemingly forgotten by their investors. It’s a pattern repeated across Melbourne, where approximately 50,000 properties are tied up in short-term rentals like Airbnb.
The frustrating thing is that we’re not dealing with a simple supply shortage. We’re facing a distribution crisis. Property has become a wealth-hoarding tool rather than serving its fundamental purpose as shelter. Investors are sitting on multiple properties while young families struggle to find stable housing. The math is stark - Melbourne has around 100,000 empty properties, yet Victoria has only about 30,000 homeless people.
Our current system rewards property speculation while punishing those trying to enter the market. The housing minister owns millions in property shares while promising to keep prices rising - a stark illustration of where political priorities truly lie. Rather than addressing the core issues, we’re seeing fingers pointed at immigration while wealthy investors continue accumulating properties.
The solutions aren’t actually that complex. We need stronger vacancy taxes, limits on property ownership, and serious reform of short-term rental regulations. Cities worldwide are starting to ban or heavily restrict Airbnb-style rentals, recognizing how they hollow out communities and drive up housing costs. We should follow suit.
Looking ahead, we need to fundamentally rethink our approach to housing. It shouldn’t be treated primarily as an investment vehicle. Whether through expanded public housing, stricter ownership limits, or reformed tax policies that discourage property hoarding, we need to shift back to viewing housing as a basic right rather than a wealth-building tool.
The good news is that more people are waking up to these realities. The narrative is shifting from blaming external factors to examining the structural issues that have created this crisis. Real change will require political courage and a willingness to challenge vested interests, but the growing public awareness gives me hope that we might finally see meaningful reform.
Making housing affordable isn’t just about building more - it’s about ensuring existing housing stock serves its intended purpose of providing homes for people who need them. Until we address the distribution problem, no amount of new construction alone will solve this crisis.