Property Bubble, Housing Crisis, the New Silicon Valley

Experts suggest Australia isn’t far off from a property price collapse, but the mortgage industry says the problem is the property sector’s inability to tide housing demand, while reports by the Australian Council of Social Services show evidence of low income households forced to survive at $35  per day, while rent costs keep going up and there’s a shortage of affordable housing.  Plans are afoot to perhaps turn the region of Wollongong as the next Silicon Valley with a technology hub.

Aired: 4 June 2012