David Fickling published a ripping article in Bloomberg over the weekend warning that the increasing share of dwelling construction coming in the form of high-rise apartments risks exacerbating Australia’s housing crash:
Back in the 1980s, single-family detached homes comprised about three-quarters of building approvals, and even through the 1990s and 2000s the proportion was still around two-thirds. Since then, it’s plummeted to less than half, with high-rises taking up an increasing share of Australia’s traditionally single-story skylines… the shift toward high-rise apartments risks a further leg down in a real-estate crash that’s starting to threaten the economy…
