How housing made rich Australians 50% richer, leaving renters and the young behind – and how to fix it

Compared to the rest of the world, income inequality is not particularly high in Australia, nor is it getting much worse – until you include housing.

Rising housing costs have dramatically widened the gap between what Australians on high and low incomes can afford. Rising home prices paired with plummeting rates of homeownership are driving up wealth inequalities.

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If we want to address inequality, we will have to fix housing.

Housing is draining the incomes of the poor

People on low incomes, who are increasingly renters, are spending more of their incomes on housing.

The inflation-adjusted incomes for the…

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