As political promises about housing affordability dominate pre-election headlines, we witness a familiar dance: politicians offering quick fixes while fundamental causes of our housing crisis remain unaddressed.

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The reality, as economist Peter Tulip from the Centre of Independent Studies consistently highlights, is stark: Australia's housing crisis is primarily a supply problem. While negative gearing and tax concessions make convenient targets, they account for at most 4 per cent of housing prices. The true culprits are restrictive planning regulations, NIMBYism, and bureaucratic delays choking our housing market.

KPMG's Keeping Us Up at Night report found 48 per cent of business leaders identify housing affordability as their top social concern. Yet political discourse circulates around demand-side tinkering - 5 per cent deposit schemes or mortgage interest tax breaks - that may help individuals jump the queue but ultimately fuel price inflation.

Housing All Australians has long advocated for housing to be reclassified as fundamental economic infrastructure - as essential as roads, schools, and hospitals. Without decent shelter, we face significant economic and social costs.

We must stop pretending there's a quick fix. Building our way out of this crisis will take decades. The Leptos review of NHFIC (now Housing Australia) in 2021, undertaken during the Morrison government, estimated the investment required to address just social and affordable housing shortfalls at $290 billion over 20 years - that's 44,500 homes annually. The Housing Australia Future Fund aims to build only 11,000 homes per year for five years. Where will the other 33,500 homes come from?

Government alone cannot bridge this gap. We must leverage private capital through innovative partnerships that respect both market economics and social needs. This is where compassionate capitalism enters the equation. Unlike American values that increasingly pit business interests against........

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