Non-fictionThe Australian housing market is a wealth-generating machine, not a home-generating machine. So much is wrong with the current situation. No doubt you see it too; everybody seems to on some level. That’s why we keep hearing about the ‘Australian housing crisis’. I can see it, and I proudly consider myself an old-school capitalist, with a preference for free enterprise, fair competition, private property rights and the chance to make an occasional profit. We now find ourselves with a de facto caste system in Australia: the home owners relative to the home renters. Both groups need homes, but there is a marked wealth division between those collecting passive income on houses they own and those living solely on direct income who are forever chasing a rising market.