In the last three decades, real wages have risen by about half, but home values have tripled. Today, Melbourne home values are worth about eight times the average salary. •
This week, three of Australia’s leading housing academics, Hal Pawson, Vivienne Milligan and Judith Yates, released a book, Housing Policy in Australia: a case for system reform, which pulls together decades of research into what they see as a systematic failure of Australian policy when it comes to that most basic of human rights: shelter.
Far from being a symptom of our success, rising home values are a sign of supersized policy failure at the national level, they say, adding that what we need is a national housing strategy. What should that look like? Visit the link in our bio to find out.
Illustration: Dionne Gain. Report: Jessica Irvine
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