Sydney Surpasses Hong Kong as World's Most Unaffordable Housing Market

Sydney has become the least affordable housing market globally, surpassing Hong Kong with a median dwelling price now 14.7 times the median wage in New South Wales, marking a genuine emergency in housing affordability. Meanwhile, Australians face an identity crisis marked by conflicting views on colonial history, Indigenous recognition, and geopolitical positioning, alongside struggles to define a coherent national brand. Young Australians, like Larissa, express frustration over the cost-of-living crisis and lack of job opportunities even in regional areas, challenging traditional expectations of career and homeownership. Socially, Australians are increasingly disconnected from their neighbors, with 72% feeling less inclined to know those nearby, and younger generations forming communities more through online interests than geographical proximity. These issues collectively paint a picture of a nation grappling with economic strain, social fragmentation, and questions about its future direction and cohesion.