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Housing Shortage

edited February 2007 in architecture
I'm sure that this has come up in other threads but this is more of a base-level enquiry.

Why is there a housing shortage? Maybe I'm deeply misinformed but why is there a push for more development under the guise of tending to growing population needs and trends? Yes, there is a growth of single person households, but most of the developments I've seen in fringe areas are for large 1/4 acre block developments, not single unit housing.

Furthermore I've been hearing more and more about development companies selling to overeas buyers prior to releasing thier properties to the local market. Is there a housing shortage or a property investor shortage? If housing people who actually live in Melbourne is so important that we're pushing further and further out of the city bounds, why are these better-located properties still being peddled to investors overseas who have no intention of living in these properties but wish to keep them as part of a portfolio of rental properties?

I'm just puzzled as to the contradiction between developing for investors and developing for owner occupants.
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