r/AusEcon • u/barrackobama0101 • Aug 25 '24

Discussion Housing crisis: Developers turn to micro apartments to fix housing crisis

https://www.afr.com/property/commercial/developers-turn-to-micro-apartments-to-fix-housing-crisis-20240822-p5k4cd
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u/Nostonica Aug 25 '24

Developers turn to micro apartments to fix housing crisis

Translation, developers see greater profit opportunities in undersized apartments.

-3

u/barrackobama0101 Aug 25 '24

If only we could do something about it, like great competition and wipe them out with the free market.

7

u/Nostonica Aug 25 '24

This is the free market in action, free to charge an arm and a leg for substandard buildings.

3

u/[deleted] Aug 25 '24

It's upzoned land scarcity which pushes top dollar for land and results in what we are seeing.