Canberra, May 17: A new study from the University of Sydney highlights the significant impact of climate change on human society. According to the research, the number of homeless individuals in Australia could increase fourfold within the next decade due to high emissions. The study reveals a deep connection between climate change and the rising cost of housing.
In a statement released by the university on Friday, it was noted that well-intentioned housing policies could exacerbate issues of affordability and homelessness due to the effects of climate change.
Researchers found that pressures arising from climate change—such as increased insurance costs, disruptions in the supply chain for construction materials, and shifts in investment behavior—will further intensify the housing crisis across the country.
The study indicates that in a high-emission scenario, purchasing a home could become twice as expensive, while rental prices could rise by up to 45 percent.
According to a report by Xinhua News Agency, even in a low-emission scenario, the number of homeless individuals could double compared to 2020 levels, with a potential 23 percent decline in the ability to pay rent.
The researchers utilized nearly two decades of national housing, income, and demographic data to develop their model. They created a framework to understand how climate shocks and policy interact to shape affordability, homelessness, and rental pressures.
The study found that if policies focus solely on insurance premiums or mortgage rates, they could increase inequality, as the economic burden would shift to renters.
Peyman Habibi-Moshfegh stated, “Climate change simulations should be conducted on new housing policies before implementation to ensure they do not exacerbate inequality.” He further emphasized the importance of considering future climate shocks when developing new housing policies and plans.
This study has been published in the journal “Cities.”
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