NAB boss warns on housing affordability as house prices rise

National Australia Bank boss Ross McEwan says the Australian dream of home ownership probably feels further away for many, warning that a shortage of homes is one of the biggest problems facing the nation. At NAB’s annual general meeting in Sydney on Friday, McEwan noted that despite the economy slowing this year under sharply higher interest rates, house prices continued to climb, sharply reducing housing affordability. For many seeking the great Australian dream of home ownership, he said, “it likely now feels further away.” “We haven’t built the number of homes required for our growing population. It is one of the biggest…