Deputy economics editor Michael Read on what’s going on in the housing market, whether it’s the correction we had to have and why the government doesn't want to call it that.

This podcast is sponsored by Westpac

Further reading:
RBA warns house prices have further to fall
Despite the softness in the housing market, RBA governor Michele Bullock said another interest rate rise remains squarely on the table.
Labor MPs are lost in housing’s hall of mirrors
Prices are falling, but the government is reluctant to claim the credit. So its MPs have resorted to rhetoric about renewed optimism for first home buyers.
Property price slide exposes political peril for Albanese government
As the sharpest housing market correction in almost four years gathers pace, the Albanese government is discovering that voters do not necessarily welcome falling values.