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Climate Change Threatens Australia's Housing Market
Description
University of Sydney researchers warn of a grim future for Australias housing market due to global heating. Without significant emissions cuts, rents and home prices could soar, and homelessness could quadruple by 2036. The study models two scenarios: a high-emissions path that ignores Paris goals and a low-emissions path that pushes sustainability. The latter aligns with Australias pledged cuts. The study highlights the disproportionate impact on vulnerable groups, widening inequality gaps. Experts call for housing policies targeting low-income renters, boosting social housing, and climate-resilient homes. The federal budgets social housing moves are a step in the right direction, but urgent climate action is needed to avoid this dire outcome.
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