Australia’s record house prices are not a mystery of “market forces” they are the predictable outcome of policy. Since 2015, Australia’s broad money supply has expanded by roughly 80%, massively diluting the purchasing power of wages and savings. When a government runs loose fiscal policy, funds deficits with debt, and allows banks to create ever more credit, that new money must land somewhere. It overwhelmingly flows into scarce assets like housing. At the same time, high immigration settings inject relentless demand into a market where housing supply is structurally constrained, turning shelter into a bidding war. The result is not prosperity, but a brutal cost-of-living squeeze: higher mortgages, higher rents, higher land prices and a generation forced to compete against debased currency and policy-driven demand. This is not a housing failure; it is a currency and fiscal discipline failure and Aussie households are paying the price.