Mr Greiner was speaking on Monday at a meeting of business and community leaders, who had gathered to find solutions to the problems of burgeoning demand and a near absence of new supply, exacerbated by increasingly unaffordable private housing.

Social housing is a vital safety net for society’s most vulnerable, yet the state’s waiting list has blown out to almost 60,000 households. The flailing system runs at a loss of about $300 million a year. The government has controversially been selling properties, such as historic homes at Millers Point, to raise funds – an approach described by the NSW Auditor-General as “not financially sustainable”.

Source: Sydney Morning Herald