The rising cost of housing and a growing wealth imbalance is an emerging social issue that could threaten “social cohesion”.
Purchasing a home in a capital city on a skill-level 4 or 5 income is essentially impossible. Even if you put two of those incomes together maybe you can afford a humble abode at the very, very end of the urban fringe, but you need to get at least up to skill level three (electrician, butchers, mechanics etc) in order to have home ownership as a real, valuable option in your life.
“So what does this mean if we have a U-shaped workforce instead of a bell curve workforce? Well, social cohesion is at risk.”
Countries that have an “extreme U shape” in workforce skill levels (i.e. a high proportion of wealthy people and a high proportion of low-income people) generally see pent-up anger and frustrations bubble into civil unrest.
Go to the Walk The World Universe at https://walktheworld.com.au/
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