Sydney home ownership rate hits 70-year low

The latest data shows Sydney's home ownership rate has plummeted to its lowest in 70 years, highlighting a stark affordability crisis. This means fewer people are able to buy homes, which is a red flag for the city's economic health. The decline reflects broader issues like rising property prices, stagnant wages, and increased living costs, suggesting a significant shift in who can afford to live in one of Australia's most expensive cities. This trend isn't just a statistic; it points to potential long-term impacts on social mobility and economic stability.