There has been much written about the end of the middle class, the creation of a U-shaped curve society, replacing the one bell shaped curve. This means lots of people at the poor left side of the curve, and some, much less at the right side of the social curve. This topic was given a recent excellent discussion at a mainstream site, Property Update.com.au who pull no punches about the grim situation:
"The decline of the middle class impacts upward mobility, community cohesion, and societal balance, making it harder for people to move between social strata.
Rising inequality in housing, education, and employment has contributed to this erosion, making homeownership, skilled trades, and affordable education less accessible.
Policies like TAFE fees have discouraged trade education, leading to a shortage of skilled middle-class workers. Ironically, wages for trades like plumbing and electrical work now rival university graduate salaries.
Developers prioritize high-margin luxury housing, leaving a shortage of affordable options. This exacerbates the divide, making homeownership elusive for many middle-class Australians."
Saving the Australian middle class will involve addressing a wide range of policy issues:
"Reinvest in TAFE: Making technical education free and accessible again is crucial for rebuilding the middle class. This would encourage more Australians to pursue trades and address critical labour shortages.
Reform housing policy: Governments must incentivise affordable housing development, either through public initiatives or partnerships with private developers.
Enhance skilled migration: Align migration policies with workforce needs, focusing on middle-class roles in trades and technical fields.
Strengthen social cohesion: Support community initiatives that bring people together across socioeconomic divides, such as local festivals, sports, and volunteering.
Invest in regional areas: Encourage economic diversification outside capital cities, promoting value-added industries like manufacturing in agriculture to create middle-class jobs."
Apart from the standard immigration clause, this is a good program. If the middle class is not saved, if the U-shaped curve deepens, it is likely that a breakdown in social cohesion will cause society to buckle, as U-shaped curves always have the potential for critical instabilities.
https://propertyupdate.com.au/the-truth-about-australias-middle-class-a-society-in-crisis/