Is there really a housing shortage?

In my emails today I have received a message from the Commonwealth Bank of Australia. In this email message, they have announced a profit of $4,907,000,000. In just six months. I look at figures like this and want to ask, "How much is enough?" but I know there is no answer to that so I don't bother.

But as the CBA boasts of all their achievements over the six months is this:

Did you see the reason for my title? In case you haven't picked it up yet, let me highlight it for you -

140,000 new home loans, including 15,000 for first home buyers

140,000 new homes, but only around 10% are for first home buyers. 140,000 new homes being built, financed by CBA, and 125,000 of these being for people who are not first home buyers. 

Now, I expect that a number of these are for people who have sold a home and are now moving on to a second home to live in. Good on them. But how many of these loans are for investors? How many of these loans are actually helping the rich to get richer while the first home buyers continue to be squeezed out of markets in our major cities?

Is there really a housing shortage? Or is there just one group of people who own numbers of houses, and another group of people who would like to own just one.