The Demise of the Australian Dream in 2020

A housing crisis in Australia is shattering the country's long-held belief in the "Great Australian Dream" of home ownership. The high cost of housing, coupled with government policies that prioritize housing as an investment rather than a right, have made owning a home virtually unattainable for most Australians. Many are forced to live in shared rooms or rely on rental properties, which are becoming increasingly scarce and expensive. The situation has been exacerbated by rising interest rates and natural disasters that have destroyed homes. Social and subsidized housing options are few and far between, and wait lists are years long. The government has introduced some measures to address the issue, such as housing schemes and investment funds, but critics argue that more comprehensive reforms are needed. The housing crisis has not only financial implications but also emotional and mental health impacts on individuals. The situation has eroded the belief in Australia as an egalitarian meritocracy, where education and hard work would lead to success. Overall, the Australian Dream of home ownership has been shattered, leaving many feeling trapped and disillusioned.