Sydney, Australia

Sydney, Australia

Friday, June 5, 2015

Student Post - Justin Nollau

I was somewhat surprised by Sydney’s real estate prices. I knew they were expensive, but not that high. Much like any large city, real estate prices tend to rise the closer you get to downtown. $3.5 million for a one-bedroom apartment in the historic district caught me off guard. I was surprised to learn that rent was calculated on a weekly scale. This seems like an excessive system. I see the benefit of a potential shorter time to learn of a renter’s intent to default, but there is also the burden of trying to collect rent every week. I would be interested to learn more about how often wages are paid to employees. When it comes to government subsidized housing, the system seems odd as it seems to create a dependency on receiving government money. Having to report income seems fair, but demanding payment of almost all one’s income appears to create a cycle of poverty. How are individuals going to break out of the system under current constraints?

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