Rentierization: Landlords & Speculators With Their Foot On The Gas Burning Your Dollars

the side of an older drab brick apartment building
apartment buildings 021 photo by hearingpocket is licensed under CC BY 2.0
Renters! First and last month cash will get you a tired but super pricey apartment. Take comfort! You are helping a poor, out-of-luck housing speculator run laughing to the bank.

What exactly is ‘rentierization’ (aside from being this year’s Grand Loser in the catchy word creation contest)?

An newly-published study by the University of Sydney and the University College London Institute for Innovation and Public Purpose has coined the term to replace ‘financialization’ (which is not even a respectable runner-up in the same contest.)

Their sad attempt at word-branding is, however, a persuasive examination of affordable housing crises in more than one country today. It sums up a situation in which the value of a house has become more valuable as an investment than as a form of personal human shelter, especially in Sydney, which has some of the most expensive housing in the world.

How is this ‘rentierization’ causing a crisis in Australia? And what can be done about it? Read more in THE CONVERSATION: When houses earn more than jobs: how we lost control of Australian house prices and how to get it back