The Great Divide

The Great Divide by Alan Kohler explores Australia's housing crisis through the lens of one of the country's most trusted financial journalists.

'One of the best long reads on housing and possible solutions that you can come across' - Rafael Epstein

This is an updated and expanded edition of the bestselling Quarterly Essay. It delves into one of the great mysteries of Australian life: how a land of sweeping plains, with one of the lowest population densities on the planet, faces a shortage of land for houses. Consequently, Sydney becomes the second most expensive place to buy a house globally, just after Hong Kong.

The rapid increase in house prices has significantly impacted Australian society. It has heightened inequality and profoundly changed the generational relationship between those who own a house and those who do not. This has resulted in a rental crisis, a scarcity of public housing, and a mortgage crunch.

The troubles began seriously at the start of the twenty-first century with a substantial, permanent rise in housing prices. In this insightful, clarifying, and forward-looking book, Alan Kohler narrates the story of how this situation developed and suggests potential solutions for recovery.

This new edition includes additional material on homelessness, the extent to which house prices in each city should decrease to become affordable, and insights drawn from international experiences.

'A timely contribution from a master communicator' - Cameron Murray, Crikey