Anthony Albanese’s government is once again trying to dance around the housing crisis.

The Housing Industry Association is clear: Labor’s changes to negative gearing and capital gains tax would cut housing supply and push rents higher.

And rents are already brutal. Property data from Cotality says national rents rose 2.1 per cent in the March quarter and 5.7 per cent over the year. Australians are now spending a record 33.1 per cent of gross median household income just to keep a roof over their heads.

So where is Labor looking? At tax settings.

Where won’t it look? At immigration. 

The ABS says net overseas migration was 306,000 in 2024-25. The biggest arrival group was temporary students at 157,000. That is hundreds of thousands of extra people needing homes in a market that is already buckling.

Labor promised 1.2 million new homes by June 2029. 

We’re not even close to hitting the target.

And yet more and more people are streaming in.

Albanese is hoping he can float a tax gimmick and not talk about immigration and nobody will notice.

Australians do notice.

Renters notice when every lease renewal feels like a mugging. Young families notice when inspections are packed. Workers notice when housing eats more and more of their pay.

Enough games.

If the government is serious about housing, it should stop taxing around the edges and start fixing the core problem. Bring immigration under control to deal with demand. Train and employ Australians to build. Speed up approvals. Build homes for the people already here.

Start putting Australians first.