The article first appeared in the Economist on May 2, 2025.
A COST-OF-LIVING crisis hangs over Australia’s election on May 3rd. A shortage of affordable housing is a big part of the problem. Many Australians—and migrants drawn by sunshine and a high quality of life—are finding it harder to afford a place of their own. Over the past 25 years house prices have doubled relative to incomes. The rental market is swamped with demand and starved of supply. To show the strain, we turned to our “Carrie Bradshaw index”—a simple measure of how much someone must earn to live alone, as the “Sex and the City” protagonist famously does…
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