Craig

Thank you.

it's the real estate podcast brought to you by ray white the largest real estate and property group in australasia and welcome to another episode of the real estate podcast we're talking with peter tulip who is the chief economist at the center for independent studies

Now, just a little bit of a background from Peter.

His previous work included the research department of the Reserve Bank for Australia and his stint at the Federal Reserve Board of Governors.

And his recent research focuses on housing and monetary policy.

Hey, Peter, welcome to the Real Estate Podcast.

Nice to have you on, and I guess housing and monetary policy keeps you pretty busy these days, particularly given the incredibly challenging times ahead in the current market that we're all living in.

Well, let's have a look at home ownership because that's a little bit of a problem.

It's always been a fundamental goal in the Australian psyche.

It's been a mindset that has been passed down.

It can be argued from generation to generation to own your own home.

However, it is on the decline.

So tell us a little bit about some of your key findings around this.

And, you know, the worst part about this is that there's no silver bullet.

It's not like in 2022 this is going to change or in 2023.

What are some of your thoughts around that whole aspect?

And rental stress is also on the rise, and I don't think that comes as any great shock to people that are listening to the podcast, but there are also some other aspects surrounding that.

So tell us a little bit about what other factors are at play.

So they're very large effects.

And sometimes research numbers and figures around land restrictions being a problem, which is what you're talking about, increasing property prices, they are at times shot down by people who will argue that high prices have nothing to do with land restrictions because the land restrictions have barely been changed for decades.