ABC News Daily Housing Hostages: Australia in 2050
Mar 3, 2025
Michael Janda, the ABC business editor, sheds light on Australia’s ongoing housing crisis and its dire implications for the future. He discusses how skyrocketing home prices trap Australians in debt, delay retirement, and reshape family planning. The emotional toll on young couples struggling to find affordable homes is highlighted, alongside the growing inequality in homeownership. Janda argues that these housing woes not only disrupt individual lives but also threaten the nation’s economic stability and intergenerational equity.
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Michelle's Housing Struggle
- Michelle, a young woman in Sydney, struggles to find affordable housing in the inner west.
- She and her partner are considering having children but worry about space and affordability.
Declining Homeownership
- Homeownership rates are declining, especially among millennials.
- If trends continue, Australia may revert to a renter-majority society, with homeownership limited to those inheriting property or receiving family assistance.
Housing and Birth Rates
- Housing affordability significantly contributes to declining birth rates.
- Australia's birth rate is declining, partly due to high housing costs, and may necessitate increased reliance on migration to maintain population levels.