{
  "id": 5390030,
  "title": "Australia's housing problems will take 'generation' to fix, NAB economist",
  "url": "https://urgent.news/2026/09/03/australias-housing-problems-will-take-generation-to-fix-nab-economist",
  "topic": "business",
  "section": "Business",
  "published": "2026-09-03T18:46:04.000Z",
  "source": {
    "name": "ABC News AU",
    "slug": "abc-news-au",
    "url": "https://www.abc.net.au/news/2026-09-04/housing-problems-will-take-a-generation-to-fix-nab-economist/107111144"
  },
  "original_language": "en",
  "account": "NAB economist Sally Auld predicts that Australia's housing affordability issues will endure for at least a generation, despite forecasted price declines. Westpac chief economist Luci Ellis attributes rapid house price growth to low inflation and financial deregulation over the past three decades. Auld emphasizes that only a substantial increase in housing supply over time can meaningfully improve affordability. Ellis highlights that lower inflation and financial deregulation allowed Australians to service larger mortgages relative to their incomes. Ellis also notes the role of strong migration in increasing housing demand. The inquiry discussed challenges in housing approvals, infrastructure provision, skilled labor shortages, and construction productivity. NAB's Auld acknowledged progress in the supply side but stressed that the housing market remains structurally under-supplied. The Albanese government's tax changes are one of many variables affecting the housing sector.",
  "summary": "Property price declines of 7 per cent will not solve Australia's housing affordability issues, NAB chief economist says.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}