Not everywhere in the world is new york numbnuts.SuperJail Warden wrote:
For the third time, I don't care about the real estate market. How much more money a slumlord makes isn't my issue. In the poorest communities, the people who own property are often a small subset of the larger community. How many people own property around a public housing unit compared to the amount of people who live in the unit?
70% of sydneysiders own their own homes. So yeah, I'd say 70% of people are laughing their way to the bank. If you're relying on public housing that's kinda your own problem. Beggars can't be choosers. Recently the gov sold off the a public housing apartment in the middle of sydney since people were paying 50 dollars a week in rent when the value of those apartments are at least 700+ a week in rent.
Property values going up is good for cities since it allows them to make more money from property taxes, fund better local schools, parks etc. If you're living in a city that's become too expensive to live well tough titties, make lifestyle changes, move to a different city etc.