CLANCY OVERELL | Editor | CONTACT
In great news for Aussies staring down the barrel of being eternally priced out of the property market, there is a way that we can see prices cool, without the entire market crashing.
While Australians work long hours to earn the money it costs to simply live underneath a roof, the dream of owning a home outright is now almost a fantasy – let alone just having a name on the title.
However, while the blessed baby boomer property investors who benefited directly from this Howardized pyramid scheme pray that nothing changes and their risk-free assetts continue to hysterically acrue value in the manipulated housing market – there is a very real fear that irresponsible lending and increasing interest rates may result in the bubble bursting as millions falls off a mortgage cliff.
This very real risk is one that nobody wants to deal with, or even think of, especially those who have flogged themselves to get into the market.
It’s for this reason that the property bubble must be deflated – and gently.
And what better way to do that than to increase house supplies?! But not the type of housing that will simple created more irresponsible mortgages – more, the type of housing that people who aren’t rich can live in. Near services, jobs and public transport.
While this radical proposal is likely to result in a chorus of ‘welfare bludger’ rhetoric from Australia’s property-obsessed media, it’s now at the stage where this is the only option.
With the harbour city of Sydney now the epicentre of the Australian housing crisis which has spread from NSW to other cities and coastal hubs like a plague – it is important to begin this exercise in mass housing fast and targeted at the heart of the problem.
As it stands, Manly Corso is Sydney’s most accessible urban enclave. Serviced by non-stop buses and ferries that transport passengers directly to the terminus of Circular Quay and other busy business districts.
It would make perfect sense that this entire precinct be razed and replaced by brutalist public housing towers, capable of assuring that no young people are left behind and are afforded a decent living standard near well regarded educational institutions – like the Prime Minster was when he was a young houso boy.
With the harbour on one side, and the pacific ocean on the other, they could call it Manly Estate. A bit of economic diversity in the Northern Beaches would also do wonders for the Manly Sea Eagles grassroots recruitment drives, and it was also give the snot-nosed local kids a bit of perspective and help them not grow up to be fuckwits.
Where else do you think would be a good place for people to live? Let us know in the comments.
