How the housing obsession is short-changing business

After two decades of neglect, the decline of business credit in favour of property is showing its effects.

With an ageing population lowering trend growth, Australia’s obsession with housing – which crowds out more productive forms of investment – will continue to reduce our international competitiveness, starve innovation and cause living standards to stagnate.

Business credit, as a share of total credit outstanding, fell to its lowest level on record in April. In fact over the past 25 years, the share of credit allocated towards Australian businesses has effectively halved.


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