[article] Australian housing wealth is meaningless, destructive and fundamentally changing our society | The Guardian

cross-posted from: https://lemmy.world/post/8967868

This op-ed details how housing has gotten faaaar more expensive over the past several decades but without corresponding wage growth, leaving it increasingly unaffordable. The author (correctly) argues that this is due to the rising land values, which does not represent true wealth creation and is rather simply a vehicle for wealth redistribution from the younger and working class to the older and landed.