There’s a common refrain when it comes to housing in Australia today: ‘it’s never been harder to enter the housing market’. Housing affordability has been labelled by politicians, the media, and aspiring homeowners as a historic crisis.

What if that’s just not the case? What if we’ve seen the same story countless times before? What the markets are doing what they have always done, and what they should be doing? Perhaps, as Cameron Murray suggests, the market isn’t the answer? Cameron is an economist and Australia’s leading expert on housing.