Tuesday, 19 March 2013

High price balconies

Showing a creative attitude and that evidently Sydney can still turn out good weather, one young accommodation seeker has taken to living on a balcony for the not paltry sum of $215 a week in inner Sydney while looking for a place to live.  Not only a tale of urban bohemia, Josh Chamberlin's story of moving to the pricey Sydney market illustrates the general degree of housing and mortgage stress in the  Sydney and Australian market - another side impact of central bank policy in allowing strong external financial flows to inflate asset bubbles including overpriced real estate markets.

One state government made noises this week about programs for increasing housing supply but these will doubtless get held up by delays and red tape.

Again more effects of hot money flows into Australia...

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