Archive for August 2020
Reserve Bank Warns House Prices Could Fall 40% as COVID-19 Smashes the Economy and Causes a Surge in Unemployment
The Reserve Bank of Australia is warning a 40 per cent fall in house prices is ‘plausible’ as coronavirus pushes up unemployment to 1990s levels. Even before the COVID-19 crisis, Australia already had the world’s highest household debt levels after Switzerland. A surge in unemployment to double-digit levels unseen since 1994, as a result of from coronavirus…
Read More‘Meanwhile use’: How Governments and Landlords Can Manage Properties Left Vacant by the COVID-19 crisis
The COVID-19 pandemic has temporarily shut down cities across the globe, resulting in abandoned buildings and deserted streets. How might we better use our own vacant buildings during the crisis and beyond? We can learn from the benefits and challenges of the UK’s “meanwhile” building use sector.a
Read MoreWhen houses earn more than jobs: how we lost control of Australian house prices and how to get it back
Real home prices across Australia have climbed 150% since 2000, while real wages have climbed by less than a third. Sydney and Melbourne rank among the most expensive cities in the world. Australia-wide, home ownership levels have fallen from 70% to 65% in the last 20 years and home equity levels have fallen from 80% to 75%. Younger workers…
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