I have already aknowledged the fact there will be those that can afford the over inflated prices
and this will make it harder for those already struggling
You seem to be not concerned about the fact of this 2 class society
The damaging social implactions of this will be massive if it is let get out of control, and unlike the US here in Australia both classes of society go of to the polls once every few years. No government will survive if a large portion of the population can not afford housing.
During the 60 into the early 70 when WA was going through a boom in population (mainly due the the mining industry starting) governments built whole suburds of cheap housing, Balga, Nollamara, Lockridge, Langford.
Just to name a few
Yes this created some social problems of its own in have what turned out to be large areas of low income households, but similar can and will have to be done if the housing situation gets any more unaffordable.
One on hand you are argueing that the population growth is going to be what pushes house prices up.
But you are then argueing the government can not build cheap houses because of lack of infrastructure.
So these people who are coming to Perth who are going to push the price up do not need the same infrastructure.
Regardless what happens if the population increases infrastructure is going to be strained.
No arguement a lot of money has been made out of property over the last 4-5 years, these gains are not sustainable if for no other reason than housing must and needs to remain affordable.
We have had 15-20years growth in 4-5 years, we need 10 or so stagnate years for things to catch up as has always happen in the past
And I know thing have change, they are different this time around - when have I heard that before?
That is right the Tech boom when people were buying TLS for what they thought was a cheap $9.00
