Authored by James Fernyhough via TheNewDaily.com,
Young Australians are increasingly likely to live most of their lives in high-density rented accommodation – and that’s not necessarily such a bad thing.
That was one of the more controversial findings of a major study into the housing market released in recent days.
The Committee for Economic Development of Australia (CEDA) concluded that capital city home ownership would continue to be unaffordable for at least the next four decades.
It was grim news for many young Australians, particularly those who have bought into the Aussie dream of owning their own house and backyard in a spacious suburb.
But the study argued that a lower level of home ownership, and/or a greater level of high-density living, need not be a bad thing.
In fact, examples from overseas – and even some in Australia – suggest it could be a positive. But this would require a massive shift in policy and, more importantly, attitude.
This post was published at Zero Hedge on Sep 6, 2017.
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