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During COVID, Australia’s borders were largely closed. Migration dropped. At the same time, people were leaving Sydney and Melbourne in huge numbers. So what happened to house prices and rents? They skyrocketed. Across the board, even in Sydney and Melbourne. That’s why I think we need to have a more honest conversation about what’s driving Australia’s housing crisis. Because when you look at the incentives in our housing system, it’s hard to ignore the role of investor demand, tax concessions,

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