The biggest housing bubble in Sydney’s history is being built.
It’s just one of the factors that could tip the city’s fortunes.
Read moreA week before the national election, the property market was in a free fall.
A housing downturn has left tens of thousands of Sydneysiders homeless.
There’s no shortage of experts to tell us how to protect the city from a property crash.
But we don’t always know what we don.
We’ve been told to put a roof over our heads, invest in a small business or stay home.
But what we do know is that we’re being lied to, misled and deceived.
So how do we get the facts right about Sydney’s housing crisis?
We spoke to experts, including the CEO of the Institute of New South Wales, Dr Brian O’Connor, who says we have to make a choice between being a good neighbour and living in an insecure bubble.
Dr O’Connor says a bubble can come and go.
He says we are witnessing the beginning of a new era in Sydney where we can build our cities for future generations, and not just for ourselves.
Dr Brian O, CEO of The Institute of Sydney, tells ABC Radio Melbourne that we should start looking to build in the right areas.
But there are some key points to make.
First of all, we have a very small population of people that are experiencing homelessness.
Second, housing is a finite resource, so the more housing we build, the less housing we have.
Third, a lot of people are simply trying to survive in a city with limited resources.
If we don`t want to see a repeat of the housing bubble we saw in the 1990s, then we have got to start looking for new and better ways to build.
This is not just about the money we spend, but also the way we build our city, Dr O’Connors says.
This week, we’ll explore some of the options available to the city.
Topics:housing-industry,business-economics-and-finance,government-and/or-politics,housing,wealth-and_provisions,sydney-2000,nsw,melbourne-3000,sydney-airport,australiaFirst posted October 01, 2019 08:30:26Contact Anna-Marie RyanMore stories from New South Welsh