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Housing policy in Australia and much of the rest of the world has become dominated by regulatory measures that constrict the supply of land for housing around major urban areas. The outcome has been a massive increase in prices. Australia, in spite of having a very efficient house building industry and more land than any other nation, has become one of the most highly priced markets for housing.
Comparable jurisdictions, like in Texas and much of the US south, have far more liberal policies with regard to permitting new housing developments and therefore have prices at less than one half of those in Australia.
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