Australia's recent federal budget has been likened to a seven-course degustation, offering a variety of initiatives aimed at tackling the long-standing issue of housing affordability. The treasurer emphasized housing policies as central to the budget strategy, acknowledging the intergenerational inequality exacerbated by declining housing affordability. Key measures include a $2 billion infrastructure initiative, which is expected to enable the construction of 65,000 new homes over the next decade, contingent upon state and local governments implementing necessary reforms. Additionally, significant changes to capital gains tax (CGT) and negative gearing for investment housing are slated to begin on July 1, 2027. While these changes are viewed positively by economists, they come with the risk of alienating voters due to a prior commitment not to alter these taxes. The government aims to allow an extra 75,000 Australians to achieve home ownership, potentially lowering median national home prices by $19,000. However, the projected decrease in new housing investment could undermine these benefits, highlighting the complex and slow-moving nature of the solutions to Australia's housing crisis. Overall, while the budget presents a meaningful approach to long-standing issues, immediate effects on affordability may be limited.