This editorial from The Sydney Morning Herald looks at how the rise in housing prices in Australia has both short- and long-term negative effects.
"Australia has proved incapable of responding to the crisis in housing affordability. We are trapped like rabbits in a spotlight. The broad dimensions of the problem are well known. House prices boomed 150 per cent in the eight years to 2004, and after the current pause are predicted to rise again in the coming year."
"Many older people in Sydney have been pleased to see the value of their houses increase in the past decade. But with this has come the realisation that their children might never own their own homes, or, if they do, will have to work far harder than any previous generation to do so."
"Many of those who managed to buy a house are struggling to maintain family life as both parents go to work to repay the mortgage. For some, the battle is just too hard."
FULL STORY: How the housing crisis hurts everyone
Depopulation Patterns Get Weird
A recent ranking of “declining” cities heavily features some of the most expensive cities in the country — including New York City and a half-dozen in the San Francisco Bay Area.
California Exodus: Population Drops Below 39 Million
Never mind the 40 million that demographers predicted the Golden State would reach by 2018. The state's population dipped below 39 million to 38.965 million last July, according to Census data released in March, the lowest since 2015.
Chicago to Turn High-Rise Offices into Housing
Four commercial buildings in the Chicago Loop have been approved for redevelopment into housing in a bid to revitalize the city’s downtown post-pandemic.
New Park Opens in the Santa Clarita Valley
The City of Santa Clarita just celebrated the grand opening of its 38th park, the 10.5-acre Skyline Ranch Park.
U.S. Supreme Court: California's Impact Fees May Violate Takings Clause
A California property owner took El Dorado County to state court after paying a traffic impact fee he felt was exorbitant. He lost in trial court, appellate court, and the California Supreme Court denied review. Then the U.S. Supreme Court acted.
How Urban Form Impacts Housing Affordability
The way we design cities affects housing costs differently than you might think.
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