Housing crisis could take a generation to fix

7News Just In · Sep 4, 2026 · 2m

The Albanese Government has acknowledged that Australia's housing crisis could take a generation to resolve, as the nation falls significantly behind its target of building 1.2 million homes over five years. Thirty-year-old Matthew NG, who lives with his parents while trying to enter the property market, represents thousands of young Australians facing an increasingly difficult path to home ownership. Economists attribute the supply crisis to high interest rates, tax changes, strong demand, and government delays, with builders now choosing to renovate existing homes rather than construct new…