Australia's housing crisis addressed in federal budget with $8.1 billion

Australia faces a housing crisis due to historic underinvestment, resulting in a supply shortage. The government's 2024-25 budget addresses the issue with $1.9 billion for Commonwealth Rent Assistance and $6.2 billion in new commitments. Measures include funding for housing infrastructure, TAFE places, social housing, and regulations for student accommodation. The goal is to build 1.2 million new homes in five years.