Posts tagged ‘Working Poor’

The recipe for urban decay has flopped

Written August 26th, 2015 by

Inner City SlumsNew Geography published an article: Australia’s Recipe For Urban Decay written by Clinton Stiles-Schmidt. This article is critical of Australia’s urban planning policy to establish high-density urban living in our cities. The article speculates this strategy will result in neighbourhoods that have slum-like conditions, social tension, and perpetual poverty for their residents.

The article projects property investors having a speculative investment strategy, willing to neglect their investments by not performing ongoing maintenance. This results in deterioration of their properties and the surrounding neighbourhood. This will be most prevalent in areas with high-density housing, as investors are predominatly the buyers, paying higher prices to buy units/apartments.  This forces owner occupiers and first home buyers out of that market and further erodes housing quality because investors will not perform the necessary upkeep of their properties. We disagree.

There are several things wrong with the article’s assertions.  We feel Clinton has assumed some of the characteristics that occur in the US property market also apply to the Australian market and this is not the case. Read the rest of this entry »