Senator Rhiannon speaks about the housing crisis in Sydney
The latest Fairfax Ipsos poll, released a few days ago, shows that 80 per cent of Sydneysiders believe that housing in Sydney is unaffordable—80 per cent!—and just three per cent believe that local housing in Sydney is ‘very affordable’.
There is a long list of economists, unions and independent social support groups in favour of reform—the OECD, the IMF, the Australia Institute, the Grattan Institute, the Australian Housing and Urban Research Institute, ACOSS, the Australian Workers Union, the Tenants’ Union of NSW, Homelessness Australia, and the Salvation Army. Saul Eslake, a chief economist at Bank of America Merrill Lynch, has described the case for ending negative gearing for new investors as ‘very compelling’.
Sydney house prices are racing ahead of wage growth. People working full-time on the minimum wage are priced out of the rental market in 99.9 percent of Sydney suburbs.
We need to cater to—and care for—the full spectrum of people required to run a city; not just its upper echelons.
Watch Senator Rhiannon’s adjourment speech about Sydney’s housing crisis here.
Full link to her speech: http://bit.ly/1IPZAC4
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