With residential property prices ten times the average salary in Melbourne and Sydney, U.S. forecaster Harry Dent expects the Australian market to mirror the collapse witnessed in the California.
When house prices reached ten times income levels in California they signalled the peak that turned into the crash, and Harry Dent predicts the same future awaits the Australian market. In conversation with personal finance editor John Collett and business columnist David Potts, Dent, an economist and demographer, suggests that prices could halve.
The 2013 median house price in Sydney reached a record high of $763,169. Dr Andrew Wilson, senior economist with Australian Property Monitors, rejected Dent's conclusions stating that prices in Sydney would continue to increase by 15% over the next year. Wilson added that this growth was unsustainable would probably slow but that it was "a long way short of a catastrophic fall in house prices" as the "preconditions [we]re not there".
Economists Christopher Joye and Steve Keen agreed. Joye stating that interest rates were unlikely to stay at such low levels indefinitely and that this would slow the market down, while Keen predicts that the market will continue to grow for at least another two years.
FULL STORY: Property prices will plummet, says specialist
A Bold High-Speed Rail Plan from Australia
Not only would a new $150.6 billion proposal build a high-speed rail project to connect Sydney and Melbourne, it would also build eight new cities along the way.
Checking in on the Bicycle Backlash
Alan Davies writes from Down Under about a recent controversy in the Australian media about the “menace” of cycling in the urban core—where some are tired of the bicycle lobby's advancements of its cause.
Picturing Ten Urban Qualities Important for Every City
Writing in The Atlantic Cities, Chuck Wolfe provides ten illustrated examples of enjoyable environments that reflect an evolving recognition for the qualitative aspects of the urban experience.
Alabama: Trump Terminates Settlements for Black Communities Harmed By Raw Sewage
Trump deemed the landmark civil rights agreement “illegal DEI and environmental justice policy.”
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
The 120 Year Old Tiny Home Villages That Sheltered San Francisco’s Earthquake Refugees
More than a century ago, San Francisco mobilized to house thousands of residents displaced by the 1906 earthquake. Could their strategy offer a model for the present?
Opinion: California’s SB 79 Would Improve Housing Affordability and Transit Access
A proposed bill would legalize transit-oriented development statewide.
Record Temperatures Prompt Push for Environmental Justice Bills
Nevada legislators are proposing laws that would mandate heat mitigation measures to protect residents from the impacts of extreme heat.
Downtown Pittsburgh Set to Gain 1,300 New Housing Units
Pittsburgh’s office buildings, many of which date back to the early 20th century, are prime candidates for conversion to housing.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Clanton & Associates, Inc.
Jessamine County Fiscal Court
Institute for Housing and Urban Development Studies (IHS)
City of Grandview
Harvard GSD Executive Education
Toledo-Lucas County Plan Commissions
Salt Lake City
NYU Wagner Graduate School of Public Service