Well, it's like, why is Australian housing is so expensive? Essentially, it's showing off how well the Australian economy has been doing over the last 15 years. We have had 15 years more or less of an uninterrupted economic growth during which average earning has been raised by close to 90 per cent. While over the course of that period, the standard variable mortgage rate has roughly halved. That meant that the amount which a typical home buying household could afford to borrow under rules which aren't strictly applied as they used to be had more than doubled. Over the same period, rising immigration in falling average household size has meant that the number of households looking for accommodation has risen by about one and a half million. That's around 200 thousand more than the number of dwellings has increased by. So, you have had a substantial increase in the purchasing power of households. No net increase in the supply of housing enhances all that addition purchasing power has gone into pushing up the price of housing.