Housing Affordability bu Paul Lam

Why are houses so unaffordable? When I bought my first house, the ratio of the cost of the property to my income was 1.8 times. I was working for 5 years after graduating from uni and on an average salary. These days that ratio is 5.5 - 6 times. Last year, Melbourne property prices rose average of 10%? So why hasn't anything been done about the spiralling house price? How are the young going to afford to buy their own property? Seem like this is not a fashionable topic. It did not even rate highly in the last Federal elections.