The housing crisis is once again monopolizing headlines in Australia. The Reserve Bank of Australia’s ninth interest rate rise in a row has threatened to plunge millions of people deeper into mortgage stress. The Labor government’s deeply flawed centerpiece housing legislation has stalled in Parliament. Then, rather awkwardly, Prime Minister Anthony Albanese’s working-class credentials have been dented by the revelation that he is a landlord presiding over a multimillion-dollar property portfolio. And all that has just been in February.

Over the last two years, multiple intersecting crises have worsened the situation. The COVID-19 pandemic saw house prices leap 25 percent and median rent rise 22.2 percent, while household debts surged to record highs. A relentless series of climate change–related fires and floods destroyed tens of thousands of homes, displacing many and adding to pressure on the system. Homelessness has exploded by as much as 35 percent in some regions. More than 100,000 people now seek the help of housing services annually due to family violence.

There is no clear end in sight to this mess. And this is, at least in part, because both houses of Parliament are dominated by landlords who personally benefit from existing policies and whose parties receive substantial donations from property developers. Years of calculated misdirection by these politicians and their big-business backers mean that many Australians still mistakenly blame China for the dire state of housing in the nation or believe that pro-rich policies help everyday Australians.