Aus suburbs that joined the million-dollar club in 2025<\/a><\/p>\n\u201cYou need to have politicians who are willing to prepare in the long term to fix serious problems,\u201d he said.<\/p>\n
\u201cNobody is dealing with this growing inequality.<\/p>\n
\u201cThey\u2019re not even starting to deal with how we design the tax [system].<\/p>\n
\u201cIf you want housing to be affordable, you need to deal with inequality, and you need to have a tax system that taxes the very wealthy more than ordinary working people.\u201d<\/p>\n
He says conversations with the political class have largely ended the same way, with many washing their hands of the issue because it\u2019s simply too large a problem to fix.<\/p>\n
\u201cThe frustration I get is, whenever I talk to politicians, they always say, \u2018Listen, that\u2019s too difficult, we\u2019re not ready for it, we don\u2019t have the tax policy in place, we\u2019re worried about the next budget\u2019,\u201d he said.<\/p>\n
He pointed to other cities with even larger wealth gaps and warned our leaders to heed the warning signs.<\/p>\n
\u201cGo look at Mumbai, go look at Shanghai, and look at what house prices are relative to wages in those countries,\u201d he continued.<\/p>\n
\u201dThe world will show you very clearly incredibly unequal countries have incredibly unaffordable housing which ordinary people cannot afford.\u201d<\/p>\n
Just how bad is it?<\/p>\n
Australia\u2019s soaring house prices and unaffordable rents have become so dire that it\u2019s threatening to make the country\u2019s biggest export its own young people.<\/p>\n
More than half of Australians aged between 18 and 35 would consider moving overseas for cheaper housing, new Home in Place research shows.<\/p>\n
A further 16 per cent say they \u201cdefinitely would.\u201d That\u2019s because in Sydney, households need to be pulling in over $300,000 per year to comfortably pay off the average mortgage. Of course, that\u2019s after they\u2019ve plonked their life savings on a deposit for the opportunity to be beholden to the RBA for decades.<\/p>\n
Analysts are describing the situation as a \u201cnational disgrace\u201d as paramedics, aged care workers and nurses find themselves priced out of both ownership and rental markets close to their work.<\/p>\n
The latest Anglicare Australia 2025 rental affordability snapshot showed decades of housing mismanagement, with property owners getting tax incentives and essential workers being unable to secure an affordable property.<\/p>\n
The report analysed 51,238 rentals nationwide, finding that despite a 13 per cent lift in available properties, affordability remains dire for 16 types of essential workers.<\/p>\n
The modelling assumes a single person working full-time on award rates is spending 30 per cent of their income on rent across all property types, including share houses.<\/p>\n
According to the report, just 2.3 per cent of ambulance workers can comfortably afford their rent.<\/p>\n
Anglicare Australia executive director Kasy Chambers pointed to Australia\u2019s history of encouraging housing as an investment through tax breaks, which had created a monster, but also warned that overall rental supply was falling behind rising demands from recent population surges.<\/p>\n
\u201cThese results are shocking, but they are also an opportunity for governments to change course and ensure that everyone has a safe, affordable home,\u201d she said.<\/p>\n
\u201cThe solution is clear. We need tax reform to stop pushing up the cost of housing.<\/p>\n
\u201cWe need to build at least 25,000 new public and community homes each year \u2013 rentals that essential workers can actually afford.<\/p>\n
\u201cAnd we need stronger protections for renters so people are not left at the mercy of an unfair system.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"British economist and social media sensation Gary Stevenson is in Australia this month to carry out a mission…\n","protected":false},"author":2,"featured_media":492597,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[2655,248740,248733,248737,64,63,689,248756,99,120020,164,132726,248734,248744,88330,248732,39045,248746,248741,248753,97311,242646,248755,248749,673,677,248736,248757,88284,248752,248748,248739,248743,10926,248750,248745,159995,47714,248747,1314,248742,59828,88331,670,6551,176314,21047,35747,248735,75740,248754,248738,248751,28539],"class_list":{"0":"post-492596","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-abc","9":"tag-aged-care-workers","10":"tag-alex-blair","11":"tag-ambulance-workers","12":"tag-au","13":"tag-australia","14":"tag-australia-and-new-zealand","15":"tag-british-economist","16":"tag-business","17":"tag-dark-place","18":"tag-economy","19":"tag-essential-workers","20":"tag-fiery-british-economist","21":"tag-furious-rant","22":"tag-gary-stevenson","23":"tag-getting-tax-incentives","24":"tag-housing-affordability","25":"tag-inequality-crisis","26":"tag-kasy-chambers","27":"tag-leith-van-onselen","28":"tag-life-savings","29":"tag-living-conditions","30":"tag-lucky-country","31":"tag-lucky-country-risks","32":"tag-new-south-wales","33":"tag-oceania","34":"tag-ordinary-people","35":"tag-owners-getting-tax","36":"tag-political-class","37":"tag-population-surges","38":"tag-property-owners-getting","39":"tag-property-types","40":"tag-rags-to-riches-man","41":"tag-rental-affordability","42":"tag-rental-affordability-snapshot","43":"tag-research-shows","44":"tag-rich-people","45":"tag-sky-news","46":"tag-soaring-house-prices","47":"tag-social-media","48":"tag-social-media-juggernaut","49":"tag-social-media-sensation","50":"tag-speaking-tour","51":"tag-sydney","52":"tag-tax-bracket","53":"tag-tax-breaks","54":"tag-tax-policy","55":"tag-tax-reform","56":"tag-tax-systems","57":"tag-taxation-reform","58":"tag-unaffordable-rents","59":"tag-uncomfortable-home-truths","60":"tag-warning-signs","61":"tag-young-people"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/492596","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=492596"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/492596\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/492597"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=492596"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=492596"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=492596"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}