Sydney Morning Herald
Sydney's housing crisis has reached an alarming new threshold with a key measure revealing it now takes more than two
average full-time wages to affordably service a loan for a typical city home.
The Housing Industry Association's housing affordability index, which measures the capacity of households to service
mortgages, shows Sydneysiders must fork out $4,729 per month, or nearly $57,000 a year, to service a standard mortgage
on an averaged-priced home in the city.
That is more than 30 per cent of the earnings of a Sydney household with two average full-time wages – the portion of
income widely accepted to be a manageable housing repayment. … read more via hyperlink above …
DEFINITION OF AN AFFORDABLE HOUSING MARKET … www.PerformanceUrbanPlanning.org
For metropolitan areas to rate as 'affordable' and ensure that housing bubbles are not triggered, housing prices should
not exceed three times gross annual household earnings. To allow this to occur, new starter housing of an acceptable
quality to the purchasers, with associated commercial and industrial development, must be allowed to be provided on the
urban fringes at 2.5 times the gross annual median household income of that urban market (refer Demographia Survey
Schedules for guidance).
The critically important Development Ratios for this new fringe starter housing, should be 17 - 23% serviced lot /
section cost - the balance the actual housing construction.
Ideally through a normal building cycle, the Median Multiple should move from a Floor Multiple of 2.3, through a Swing
Multiple of 2.5 to a Ceiling Multiple of 2.7 - to ensure maximum stability and optimal medium and long term performance
of the residential construction sector.
What new fringe housing should cost …
Google search affordable North American examples …
For example …
‘New Homes Houston’ … whatever …
Check out this Arizona example …
Pulte Homes … Phoenix … Arizona
… Distribute & discuss … thank you …
Hugh Pavletich
Co-author Annual Demographia International Housing Affordability Survey
http://www.performanceurbanplanning.org/ & http://info.scoop.co.nz/Hugh_Pavletich & http://info.scoop.co.nz/Performance_Urban_Planning & http://info.scoop.co.nz/Demographia
Christchurch
NEW ZEALAND
... COPY YESTERDAY’S GENERAL EMAIL ….
From: Hugh Pavletich [mailto:hugh.pavletich@xtra.co.nz]
Sent: Sunday, 3 September 2017 6:19 a.m.
Subject: HURRICANE HARVEY: A VIEW FROM A RUGGED COMMUNITARIAN ... LEO LINBECK ... NEW GEOGRAPHY
Importance: High
Posted at … http://www.kiwiblog.co.nz/2017/09/general_debate_2_september_2017.html/comment-page-1#comment-2010425 … and … https://www.macrobusiness.com.au/2017/09/macro-afternoon-267/#comment-2947410
… ESSENTIAL READING …
• by Leo Linbeck III
Narratives are not necessarily built on facts; they’re built on stories, pictures, graphics, and videos. Ideally, we
want our narratives to be aligned with the facts; but that doesn’t always happen.
Here is a synthesis of some of the predictable narratives being spun in the immediate aftermath of Hurricane Harvey from
such places as The Washington Post, Slate, The Guardian, Newsweek and NPR: … read more via hyperlink above …
• Leo Linbeck III is a husband, father of 5, CEO of Aquinas Companies, Executive Chairman of Linbeck Group, a
Houston-based institutional construction firm, Founder and Chairman of Fannin Innovation Studio, a biomedical startup
studio, and Lecturer at Stanford Graduate School of Business. He was also the Founding Chairman, and is currently the
Vice Chairman, of the Center for Opportunity Urbanism, a Houston-based think tank.
ENDS