Supporting Economic Recovery in NSW: Investment in Social and Affordable Housing is Critical to Supporting Jobs Today and Families into the Future is a new report by Equity Economics in collaboration with NCOSS, Shelter NSW, Community Housing Industry Association NSW, Tenants' Union of NSW and Homelessness NSW.
Hundreds of thousands have lost their jobs and are facing financial hardship for the first time. The economy must now recover at a time of record levels of household debt and without the support of drivers of growth, including international migration. The NSW government will need to invest to sustain a recovery for the people of NSW, our communities and the economy.
The most immediate challenges emerging from the crisis are rapidly rising unemployment, widespread failure of small and medium enterprises (SMEs), falling incomes and wealth and, perhaps most concerningly, rising inequality and disadvantage. The optimal fiscal policy response will simultaneously address each of these challenges. Few policy levers present such a solution, the exception being a greater investment in social and affordable housing.
In this report, we analyse the economic and social benefits of:
- Building additional social and affordable housing stock across NSW, to recharge the economy;
- Repairing old social housing stock, further boosting employment;
- Rapidly acquiring available properties in the private market to find a permanent solution for rough sleepers and others in temporary/crisis accommodation.
Read the report here: