I can't comment on the worldwide situation, but it's pretty clearly the main AU + NZ driver and it's one that's very easy to address; removing the tax perks wou

I can't comment on the worldwide situation, but it's pretty clearly the main AU + NZ driver and it's one that's very easy to address; removing the tax perks would be fairer even if it had no effect on prices at all anyway, so it's a win win scenario. The only difficulty (and it's a biggie) is that actually doing something meaningful on housing affordability requires knocking down prices and that's political suicide, so nobody is willing to do it.