The true cost of NIMBYism

A home is the biggest purchase most Australians will make in their lifetime and yet most of us know very little about the forces that determine what types of homes are available to live in and what we must pay for them.
Most of us think we have a pretty good idea of what our homes should be worth, but home prices, like prices for all private goods and services, are ultimately decided by the forces of supply and demand.

Put simply, the only possible explanation for the steep rise in house prices over the past few decades, both in outright terms and compared to incomes, is that demand has outstripped supply. The real question is why?  Full Read