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Demographia International Housing AffordabilityareasQuillette
•74% Informative
The gap between housing prices and incomes is greatest in large—usually left-leaningmetropolitan areas, including Sydney .
OECD : House prices in high-income countries have been rising “ three times faster than household median income over the last two decades ” In 2019 , all of the 92 housing markets examined in Demographia International Housing Affordabilityareas with urban containment policies were severely unaffordable.
The rate of homeownership among young adults at ages 2534 was 45.4 percent for Generation X, but dropped to 37 percent for Millennials .
Higher interest rates, the result of a tsunami of public debt, are now squeezing supply.
The decline of housing affordability drives rising inequality, notes a recent study by the Bank for International Settlements .
Western societies stand on the brink of reversion towards a reversion of economically stagnant society reminiscent of the Dark Ages .
Instead of trying to make homeownership more difficult, policymakers need to find ways to accommodate the overwhelming aspiration, notably among Millennials and immigrants.
The favoured argument against dispersion today lies with environmental concerns.
But MIT professor Alan Berger believes changes in technology could make suburban and exurban communities more environmentally sustainable.
VR Score
86
Informative language
90
Neutral language
30
Article tone
formal
Language
English
Language complexity
68
Offensive language
not offensive
Hate speech
not hateful
Attention-grabbing headline
not detected
Known propaganda techniques
not detected
Time-value
medium-lived
External references
56
Source diversity
43