The ALP’s backflips on property taxes are a betrayal of Australians squeezed out of the housing market,especially the young.
Labor went to both the 2016 and 2019 elections promising to halve the 50 per cent capital gains tax deduction and limit negative gearing to new properties only.
Sydney’s property market is going through the roof ... again. So what are the factors driving prices ever northwards and why are we content to allow the boom to continue?
I worry about the future of this country when even the most basic of needs – housing – is out of reach.
The reality is that private rental housing guzzles government subsidies that in total dwarf what we put into public housing.
Sydney and Melbourne’s inner-city rental markets are starting to recover after months of falling rents and surging vacancies due to closed international borders and restrictions hitting CBDs.
The Ardern government will effectively kill New Zealand’s version of negative gearing as it tries to slow 25 per cent spike in house price growth.
It’s better to keep a tenant in a property now,rather than waiting months without rent and hoping to get someone in at a higher price.
Surely Labor should be acting to make renting more secure and to make it easier for you or your children to buy your own home.
Detached house prices are now so high in Sydney that even fairly modest percentage increases translate into large sums of money.
The problem with not paying principal on a mortgage is that you are relying on price growth to build equity in your property. And you do eventually want to pay it off.