I honestly dont think melb lockdowns are a long term concern. Its 1. wfh ie how much are people going to be able to wfh fulltime in decent jobs that obviates need to live in an expensive city with avg weather and avg beaches. 2. How much migration and will they flock to melb in same numbers as pre covid. Answer from me is 1. Some impact, but not as much as people think and 2. Busines as usual i reckon from next year. I think melb will be fine. But wont bgrow as much as brissy.
I don't necessarily believe Melbourne will experience civil unrest but the world will. There are already signs of this. Agree on the migrant point. Melbourne's reliance on migration is exposing it at the moment. I just can't see Melbourne mid term sit at 40% below Sydney's prices. There will be a reversion at some point but not for some time as the country adjusts to the new reality.
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