Ilan Wiesel, The University of Melbourne; Liss Ralston, Swinburne University of Technology et Wendy Stone, Swinburne University of Technology
You’d think falling housing prices might help people on low incomes, but history shows downturns often increase inequality. And many buyers who took out big loans during the housing boom are at risk.
Ilan Wiesel, The University of Melbourne; Liss Ralston, Swinburne University of Technology et Wendy Stone, Swinburne University of Technology
The Productivity Commission neglected the impact of housing costs. After allowing for these costs, the top 10% of households’ average disposable income grew at 2.7 times the rate of the bottom 10%.
Melbourne has seen tens of thousands of new apartments constructed over recent years, and apartment brands are flourishing. We can see striking typographic similarities with another economic frenzy: the 1870s cattle boom.