This is the first time I've read a plan for how to reverse the housing bubble. Many people recognise the problem, but here we get to see actual solutions being floated.
The context of this article is the UK, but it's the exact same problem in Australia too. What is lacking of course is political will. In the absence of a strong government and strong leadership, we continue to see the interests of political donors put ahead of everyone else.
https://pluralistic.net/2025/10/13/castles-not-assets/#steve-keen
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The sentiment is spot on:
"As Keen points out, it's not merely that the banks that currently issue mortgages don't "turn a shovel of dirt or contribute a pound of material" – they simply will not issue a mortgage to a median buyer. The median buyer can't get a mortgage, so the system is rigged to make them pay someone else's mortgage through their monthly rents, every month until they die."
"The loser is the investment sector, the City boys who buy and sell mortgage debt. And you know, fuck those guys."
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