on balance - it seems to me that a nation is better off if it's population is more spread out than concentrated in a handful of cities
of course - there's efficiencies in having sardines in a can - but, there's also greater risks
if you want to see a catastrophe - then, look no further when a city has an event that makes it dysfunctional
try a city at war or a city that has an earthquake or similar
this housing stupidity isn't in Oz alone - when I was in Croatia a while back - I was astounded at the cost of real estate in comparison to the annual incomes of people - yet - rents are cheap
why? - because the population is poor ---------- but, real estate prices are high
getting slightly away from your country to city focus - to me - there's something going on - and, it smells very dangerous
I sense that people are pouring money into real estate - and, I sense because they have nothing else that they are feeling secure enough to put money into - AND - they smell danger - a growing anxiety and fear of something bad coming down the track
as to the country/city type divide - it's in transition I think - which has been helped by Covid - the work from home thingy hasn't hit home anywhere near fully yet
those who were forced to work from home via Covid - will take (IMO) a few years to settle into the idea that this can and is a permanent change - it works better for many, it's a change that will be permanent - when they get comfortable with that -
many will look where they are - hearing the roar of the traffic, seeing the pollution, knowing the risk of being in crowds
one day - they'll go for a weekend in the country - and, they'll get the dawning ----------- we can move here now - we can sell out and come here and buy easily - it's cleaner, quieter and all we do is shift the computer and work doesn't change one bit
we can have the veggie patch out the back and a cow in the kitchen
the world is in transition - and, so is Oz ---------- it's just slow to see
but, also ------- for a place like Oz in a real estate bubble --------- hmmmmm - it won't take much of a catalyst to get a massive city sellout
