Taxpayer spending on housing support is a big ticket that's only going to get even bigger in the years ahead.
The Government is now spending a billion dollars on housing every three months.
The figure includes rent subsidies, grants and emergency housing.
Bagrie Economics founder Cameron Bagrie told Mike Hosking at the current rate, the figure is likely to jump to around five billion a year by 2025.
He says this will no doubt hurt future generations - but the issue is certainly not new, and highlights the severity of the housing crisis.
Bagrie says the cost has jumped from about $2 billion in 2016.