Economist’s brutal message to ‘NIMBYs’ amid housing crisisHe says the long-term solution should be ‘yes in my backyard’.3 min read

7NEWS08-01

One of Australia’s leading economists says the solution to the housing crisis lies in telling NIMBYs (residents who say “Not In My Back Yard”) to “suck it up”. Speaking to 7NEWS podcast The Issue, ...

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Speaking to 7NEWS podcast The Issue, ...</p>\n\n<a href=\"https://7news.com.au/news/the-issue-podcast-nimbys-need-to-suck-it-up-economists-brutal-take-on-the-housing-crisis--c-22661559\">Source Link</a>\n\n</div>\n","source":"7news_stock","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Economist’s brutal message to ‘NIMBYs’ amid housing crisisHe says the long-term solution should be ‘yes in my backyard’.3 min read</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nEconomist’s brutal message to ‘NIMBYs’ amid housing crisisHe says the long-term solution should be ‘yes in my backyard’.3 min read\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-08-01 00:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://7news.com.au/news/the-issue-podcast-nimbys-need-to-suck-it-up-economists-brutal-take-on-the-housing-crisis--c-22661559><strong>7NEWS</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>One of Australia’s leading economists says the solution to the housing crisis lies in telling NIMBYs (residents who say “Not In My Back Yard”) to “suck it up”. Speaking to 7NEWS podcast The Issue, ...</p>\n\n<a href=\"https://7news.com.au/news/the-issue-podcast-nimbys-need-to-suck-it-up-economists-brutal-take-on-the-housing-crisis--c-22661559\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"VAP.AU","symbol_name":"VANGUARD AU PROP SEC IDX ETF","start_time":0,"source_url":"https://7news.com.au/news/the-issue-podcast-nimbys-need-to-suck-it-up-economists-brutal-take-on-the-housing-crisis--c-22661559","article_id":"2656318617","we_media_id":null,"thumbnails":[],"rights":{"source":"7news_stock","url":"https://7news.com.au/news/the-issue-podcast-nimbys-need-to-suck-it-up-economists-brutal-take-on-the-housing-crisis--c-22661559","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2656318617","pubTimestamp":1785513600,"columns":[],"sourceInfo":{"source_id":"7news_stock","name":"7NEWS"},"weMediaInfo":null,"summary":"One of Australia’s leading economists says the solution to the housing crisis lies in telling NIMBYs  to “suck it up”. Speaking to 7NEWS podcast The Issue, Chris Richardson says the fact that interest rates and house prices have both gone up in the last four years, is evidence that supply is the key problem. Since May 2022 there have been 16 interest rate hikes by the Reserve Bank of Australia  and three cuts.Know the news with the 7NEWS app: Download today ArrowThe official cash rate has gone from 0.35 per cent to 4.35 per cent, and RBA Governor Michele Bullock this week didn’t rule out further interest rate hikes if the inflation problem persists.","collect":0,"end_time":0,"defaultTopTitle":"7news.com.au","property":[],"viewcount":null,"language":"en","relate_stocks":{"VAP.AU":"VANGUARD AU PROP SEC IDX ETF","XKO.AU":"标普/澳交所 300指数","BEAR.AU":"BETASHARES AUS EQ BEAR HF","DACE.AU":"DIMENSIONAL AUST CORE EQ","VAS.AU":"VANGUARD AUST SHARES IDX ETF","RBA":"里奇兄弟拍卖","OZF.AU":"SPDR S&P/ASX 200 FINANCIALS","IMLC.AU":"INV MUTUAL CONC AUS SHAR ETF","EIGA.AU":"EINVEST INCOME GENERATOR FD","LU0757428866.USD":"THREADNEEDLE (LUX) GLOBAL SMALLER COMPANIES \"AE\" (USD) ACC","LU1303367103.USD":"摩根大通多经理另类基金 A (acc)","OZR.AU":"SPDR S&P/ASX 200 RESOURCES F","IIGF.AU":"Intelligent Investor Australian Equity Growth Fund (Managed Fund)","LU1815336091.USD":"THREADNEEDLE (LUX) GLOBAL SMALLER COMPANIES \"AUP\" (USD) INC","LU2098885051.SGD":"JPMorgan Funds - Multi-Manager Alternatives A (acc) SGD","BK4137":"综合支持服务","IISV.AU":"INTELL INV SELVAL SHR FD MF","SLF.AU":"SPDR S&P/ASX 200 LISTED PROP","E200.AU":"SPDR S&P/ASX 200 ESG FUND","GEAR.AU":"BETASHARES GEARED AUS EQTY F","GIVE.AU":"PERPETUAL ESG AU SHR EQMF","STW.AU":"SPDR® S&P/ASX 200 ETF","QFN.AU":"BetaShares Australian Fincls Sect ETF","BBOZ.AU":"BETASHARES AUSTRALIAN STRONG BEAR (HEDGE FUND)","XAO.AU":"标普/澳交所 普通股指数","IOZ.AU":"iShares Core S&P/ASX 200","QRE.AU":"BetaShares Australian Res Sect ETF","XJO.AU":"标普/澳交所 200指数","ZYAU.AU":"Etfs S&p/asx 300 High Yield Plus Etf"},"translate_title":"经济学家在住房危机中向 “邻避者”发出严厉信息，称长期解决方案应该是 “在我的后院答应”。阅读时间：3 分钟","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"QFN.AU":0.6,"GIVE.AU":0.6,"STW.AU":0.6,"E200.AU":0.6,"IISV.AU":0.6,"RBA":1,"VAP.AU":0.6,"OZF.AU":0.6,"GEAR.AU":0.6,"DACE.AU":0.6,"BBOZ.AU":0.6,"XKO.AU":0.83,"IIGF.AU":0.6,"IOZ.AU":0.6,"ZYAU.AU":0.6,"XAO.AU":0.83,"VAS.AU":0.6,"QRE.AU":0.6,"SLF.AU":0.6,"IMLC.AU":0.6,"OZR.AU":0.6,"EIGA.AU":0.6,"XJO.AU":0.83,"BEAR.AU":0.6},"content_text":"One of Australia’s leading economists says the solution to the housing crisis lies in telling NIMBYs (residents who say “Not In My Back Yard”) to “suck it up”. Speaking to 7NEWS podcast The Issue, Chris Richardson says the fact that interest rates and house prices have both gone up in the last four years, is evidence that supply is the key problem. Since May 2022 there have been 16 interest rate hikes by the Reserve Bank of Australia (RBA) and three cuts. \nKnow the news with the 7NEWS app: Download today ArrowThe official cash rate has gone from 0.35 per cent to 4.35 per cent, and RBA Governor Michele Bullock this week didn’t rule out further interest rate hikes if the inflation problem persists. \nIn March 2022 the total value of dwellings in Australia was $10.9 trillion, and in March 2026 the figure now sits at $12.7 trillion. \nThe nation’s mean property price over the same time has gone from $930,000 to $1.1 million. \nChris Richardson speaks with The Issue. Credit: 7NEWSThe former Treasury insider, International Monetary Fund consultant and Deloitte economist says the Albanese Government needs to “bully” state governments and councils into approving more developments. Arguing residents who oppose new local housing, infrastructure, or commercial projects in their neighborhoods are the cause for the nation’s property woes. \n“Our housing policy for decades has been the word no,” Richardson told The Issue. Be the first to know: Add 7NEWS as your preferred news source on Google“The eventual political fight to improve affordability in Australia is going to be street by street, suburb by suburb, council by council, getting older and richer Australians to agree to building and change happening around them.\n“The longer term solution does lie in ‘yes in my backyard’.\n‘It’s time to suck it up.” Government responseThe Albanese Government says it is working with the states to increase housing supply. \nSome of the policy initiatives include the $1.5 billion Housing Support Program, $3 billion New Home Bonus, $2 billion Social Housing Accelerator and $2 billion Local Infrastructure Fund. \n“We work really closely with the states and through the states with local government to make sure that those approvals are happening,” Acting Prime Minister Richard Marles said on Saturday.\n“We’ve been really clear that one of the critical challenges in terms of dealing with housing supply and ultimately dealing with housing prices is to make sure that more homes are being built.” Bring in the tradies Housing sector lobby group Master Builders Australia is pushing for the Albanese Government to make tradies a priority in the skilled migration program.The Master Builders have released new analysis that says an average migrant construction tradie who has a 30-year career builds an additional 21.7 detached homes and adds $1.88 million to the economy. Master Builders Australia CEO Denita Wawn says workforce shortages remain enormous. \n“Current estimates indicate we will need an additional 116,000 residential construction workers and 300,000 infrastructure workers over the coming years,” Wawn said to 7NEWS. Workforce shortages remain enormous. Credit: Natalie Richards/Zstock - stock.adobe.com“We need to pull all the levers, including encouraging more Australians to complete apprenticeships and pursue careers in the trades, while also improving the migration system so it brings in trade-qualified workers who are ready to contribute from day one.”Iran War adds to problemConstruction costs have surged again in 2026 due to Donald Trump’s war in Iran. \nThe Australian Bureau of Statistics latest Producer Price Index published on Friday is grim reading for builders. \nCement products were up by 4.9 per cent, electrical equipment jumped by 12.1 per cent and steel costs declined by 1.2 per cent.\nMaster Builders Australia Chief Economist Shane Garrett said the figures demonstrate the impact that the Middle East conflict is having on the building and construction sector and reinforces the need for the Federal Government to address the underlying costs of building. \n”The conflict in the Middle East has put additional costs pressures on our home building industry at a time when supply side pressures were already acute,” Garrett said.\n“Building materials costs surged by 2.1 per cent during the March 2026 quarter alone.” You can catch more of The Issue on Listnr or watch full episodes on our YouTube channel.Crowd falls silent as Sydney defender suffers horrific injury3 min readTeen fined more than $600 for bizarre straw-licking stunt2 min read","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.47.1","shortVersion":"4.47.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2656318617","isCrawlerRequest":true}