Stephen Koukoulas, economic adviser to PM Julia Gillard, is one of Australia’s most effective shit-stirrers. He regularly gets earnest young people riled up by dismissing millennials’ complaints about economic hard times, urging them to stop whining and work harder, and reminding them that the music of Bob Dylan is superior to anything that non-Baby Boomers have been able to produce. Most strikingly, last year he suggested that young people could put together a deposit on a house by not buying takeaway coffee and saving the money instead, advice which caused anyone with recent experience of the actual housing market to guffaw with merry laughter.
Recently he claimed that the housing affordability crisis is exaggerated, and that buying a house now is no more difficult than it was thirty years ago. He is wrong wrong wrong, so I did what any rational adult would do: I stayed up all night to write a detailed rebuttal.