Supply and demand is the fundamental equation that underpins the pricing of any product, particularly the ones human beings rely on for survival like food and of course, shelter.

Watching Abbott and Hockey’s insightful commentary on the state of Sydney’s much maligned ‘housing market’ (really? there’s only one market across the entire city and its inner suburbs?), reminds one of the classic Abbott and Costello, “Who’s on first base?” routine.

Much ado has been made around Abbott and co’s apparent failure to address the so-called ‘housing affordability crisis’ in their recently released budget.

Residential real estate is certainly one of the more interesting commodities of trade in our modern age.