Sydney home ownership rate hits 70-year low
Why This Matters
This decline in home ownership rates in Sydney highlights the growing unaffordability of housing in Australia's largest city, exacerbating concerns about intergenerational wealth inequality and social mobility. The trend underscores the need for policymakers to address the root causes of housing unaffordability, including rising property prices and stagnant wages. A sustained decline in home ownership rates could have far-reaching consequences for the social and economic fabric of Sydney.
Sydney is no longer affordable for most, as new data reveals the number of people who own the home they live in is the lowest it has been in decades.
Curation & Context
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