The housing system in Australia and many other parts of the world is caught in a market that makes long-term shelter unaffordable for many people. National economies are locked into excessive housing debt, which makes them extremely fragile. If the cost of property falls and becomes more affordable, the economy becomes weaker, threatening people’s quality of life. Many are calling for greater provision of social and community accommodation, but the effectiveness of this system for providing affordable homes is questionable in the current financialised environment. The provision of housing is caught between contradictions of housing as an asset to be leveraged and housing as a social necessity.
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