CLANCY OVERELL | Editor | CONTACT
What a relief, after five years of hysterical market manipulation and forced gentrification, Sydney’s out of control property market looks to be once again accessible for young families.
This comes as the city’s southern regions see a forced evacuation of thousands of low socio-economic residents from well-serviced public housing blocks to make way for luxury apartments. 20,000 of them to be exact.
The property market, which for the last 18 months has been essentially out of reach for anyone who isn’t bringing foreign money in from overseas, or doesn’t have a family untraditionally large inheritance, appears to be completely fixed.
“The bottom line is” said Premier Gladys Berejiklian.
“The first step to resolving this crisis is to build 20,000 extra luxury apartments in already congested light-industrial areas with no parking and pretty poor access to public transport”
“That way there are more homes for potential home buyers”
When asked if the fact that these yet-to-built apartments are already listed at well over 1 million dollars on average, and have already been sold to mostly investor buyers, might not actually help anything, Berejiklian said that young people also need to start by getting a good job.
“One that pays good money”
“If you’ve got a good job and it pays good money and you have security in relation to that job, then you can go to the bank and you can borrow money and that’s readily affordable.”