--- title: "CBA Chief’s Stark Admission: Housing Has Created a Nation of Insiders and Outsiders" url: https://australianproperty.network/opinion/perspective/apn-editorial-viewpoints/cba-chiefs-stark-admission-housing-has-created-a-nation-of-insiders-and-outsiders/ date: 2025-08-13 modified: 2025-08-13 author: "Perspective" description: "CBA Chief’s Housing Crisis Diagnosis. In a recent interview on ABC's The Business, Commonwealth Bank CEO Matt Comyn stated that while soaring property wealth is \"great news for existing property owners,\" it's become incredibly \"hard for younger Australians... to save for a deposit to get access to housing.\" Crucially, he dismantled the idea that more lending is the solution, delivering a line that should be a cornerstone of the national debate: \"You can't build supply of houses by adding borrowing capacity... what we need is the ability to build many more houses.\"" categories: - "APN Editorial Viewpoints" tags: - "Commonwealth Bank (CBA)" - "Economic Policy" - "Housing affordability" - "housing crisis" - "housing supply" - "Intergenerational Inequality" - "Matt Comyn" - "RBA" - "Tax Reform" image: https://australianproperty.network/wp-content/uploads/2025/08/Commbank-CEO-1024x558.webp word_count: 792 --- # CBA Chief’s Stark Admission: Housing Has Created a Nation of Insiders and Outsiders ***Editor's Note:*** *This article analyses recent public statements by Commonwealth Bank CEO Matt Comyn. His commentary strongly aligns with the data-driven findings of our comprehensive research report*: *[Australia's Housing Crisis: A Consolidated Report on Deficits, Backlogs, and Demand Drivers](https://australianproperty.network/apn-research-report-australias-housing-crisis-a-consolidated-report-on-deficits-backlogs-and-demand-drivers/)* ### Introduction In a recent interview with **Australian Broadcasting Corporation (ABC)** Business Editor Michael Janda on the national broadcaster's flagship program,** *The Business***, Commonwealth Bank CEO Matt Comyn stepped beyond the usual discussion of net interest margins and share prices to deliver a blunt and powerful diagnosis of Australia's housing crisis. He acknowledged that the housing market has become a primary engine of intergenerational inequality and stated unequivocally that increasing borrowing capacity is not the solution. His comments represent a watershed moment, signalling that the nation's largest mortgage lender is now publicly grappling with the deep, structural flaws in the housing market, flaws that APN has been dissecting in detail. ### The Great Divide: "Great News for Existing Property Owners" The most striking part of the interview was Comyn's frank assessment of how property wealth has cleaved the nation in two. "Wealth in Australia since 2008 has basically doubled," he stated. "Probably 80% of that wealth is tied up in property, which is great news for existing property owners." This simple statement is a powerful acknowledgment of the core issue: housing is no longer just about shelter; it's about a massive and widening wealth divide. Comyn continued, "But when we look at future generations and even younger Australians now, I think it's hard to save for a deposit to get access to housing." This is the two-tiered market reality in plain language. For the majority who own property, the system works to inflate their primary asset. For those on the outside, particularly the young, the barrier to entry is becoming insurmountable. This is underscored by his admission that the majority of CBA's new mortgage customers are households earning over $200,000 a year, demonstrating that access to homeownership is increasingly becoming the preserve of the wealthy. ### The RBA Can't Build Houses: A Supply-Side Diagnosis Crucially, Comyn dismantled the idea that monetary policy or lending practices alone can solve the problem. He delivered a line that should be a cornerstone of the national debate: **"You can't build supply of houses by adding borrowing capacity."** This is a direct refutation of the demand-side stimulus that has dominated housing policy for decades. He explicitly stated that while lower interest rates might help affordability at the margins, "**really what we need is the ability to build many more houses to keep pace with a growing population.**" This clear, supply-focused diagnosis from the head of Australia's largest lender is significant. It aligns perfectly with the findings of our research, which identified the "supply-side paralysis", the blockages in labour, materials, planning, and finance, as the central impediment to housing affordability. ### A Cautious Nod to Tax Reform When questioned about potential solutions, Comyn carefully but clearly signalled an openness to structural tax reform, a topic often considered politically untouchable. While deferring specific proposals to the government's economic round table, he made two key points: - **On Consumption Tax:** "If you look at any OECD benchmarking, our tax on consumption is lower." - **On Superannuation:** He stated it's not "unreasonable for very large super balances to not be getting the same concessionary treatment that they receive." While not a direct call for changes to negative gearing or CGT, these comments show a willingness to engage in a serious conversation about rebalancing the tax system away from income and towards wealth and consumption, a debate that is inextricably linked to the housing crisis. ### APN Insight: The Debate is Shifting Matt Comyn's interview is more than just another market commentary. It is a sign that the reality of the housing crisis, as a structural failure of supply and a driver of deep social inequality, is now being acknowledged at the very top of Australia's financial institutions. His public diagnosis gives significant weight to the arguments we have detailed in our "Anatomy of a Crisis" series. The conversation is no longer about whether there is a problem, but about the courage to implement the profound structural reforms needed to fix it. When the country's biggest lender says the answer is to build more homes, not to lend more money, policymakers must listen. ### Disclaimer The information contained in this article is for general informational purposes only and does not constitute financial, investment, or legal advice. The Australian Property Network (APN) is not a licensed financial advisor. The content is based on data from third-party sources and is provided without any warranty as to its accuracy, currency, or completeness. Property values can go down as well as up. Before making any property or investment decisions, you should conduct your own research and consider seeking independent professional advice tailored to your specific circumstances.