(AGENPARL) – mar 24 maggio 2022 Having issues? [View the online version](https://events.rba.gov.au/link/id/zzzz628d6e486b221402Pzzzz61358c86a728c671/page.html)
[Reserve Bank of Australia](https://events.rba.gov.au/link/id/zzzz628d6e486d927098Pzzzz61358c86a728c671/page.html)
Speech – Luci Ellis, Assistant Governor (Economic Group)
25 May 2022
Assistant Governor (Economic Group) Luci Ellis is delivering a speech – Housing in the Endemic Phase – today at the Urban Development Institute of Australia 2022 National Congress in Sydney.
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In thinking about the landscape for housing now, there are a few observations and lessons to draw from recent experience:
– What people do want in a home, not an idealised concept of what they ought to want, should be considered when thinking about the impact of the importance of home and a sense of place on overall outcomes.
– Policy matters, especially in the short term, and can have pervasive effects on housing outcomes.
– Everything has a limit, at least in the short term … When capacity limits are reached, prices can shift very quickly, at least until people find ways to expand those limits.
– There are many margins of adjustment … It is tempting to focus on a single outcome, such as prices of established homes in particular areas. A better question to ask – if a more difficult one to answer – is how the whole system adjusts.
[Read the speech](https://events.rba.gov.au/link/id/zzzz628d6e4870ce4678Pzzzz61358c86a728c671/page.html)
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Communications Division
Reserve Bank of Australia