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141

No one can escape this housing crisis — it's coming for homeowners too (www.abc.net.au)

submitted 11 months ago by [email protected] to c/[email protected]

20 comments fedilink hide all child comments

Not sure I agree with the title that no one can ”escape” it. I think the wealth hoarding class does very nicely out of everyone else's misery. Perhaps if things don't turn around their grand children might go from owning the whole country to facing a guillotine.

More likely once there is a large enough percentage of people who will have no hope of owning, then they will start to have an effect at the polling booth.

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[–] [email protected] 3 points 11 months ago* (last edited 11 months ago) (1 children)

Wait, how much does one of these cost? Those would be very expensive in the USA, given their size, and the fact that they look to be brand new.

[–] [email protected] 3 points 11 months ago (1 children)

Are you from the US? Think of Melbourne and Sydney like any huge populous city there. Closer to the centre costs more, even if it’s smaller. Location not size is the main driver of cost. A 2 bedroom apartment in Fitzroy (inner city) can cost more than a 4 bedroom house in Mernda (new development at city outskirts).

[–] [email protected] 2 points 11 months ago (1 children)

Yes, I'm in Seattle. A house like these would be over half a million dollars, an hour away from the edge of the city. There are little towns dotting the outskirts of King County, and they're all still prohibitively expensive.

[–] [email protected] 3 points 11 months ago

Oh they still are well and truly over that here. but a one bedroom unit closeish (Newtown in Sydney as an example) to the city would be about a half million usd