Keeping in mind hundred of years of history. Five our biggest enemies are living within us. Lust, anger, greed, attachment, ego. Whenever we takes these elements in excess , karma takes its effect.
Housing is necesty. But unfortunately young people are priced out by wealthy investors.
Negative gearing not doing much good either coz wealthy are investing in established housing. They are not increasing the new stock supply.
Giving unfair tax advantage to investors. Last year IMO....14-16 billion dollors -vly geared.
In some instance, hard working young australians , who are renting paying more tax than wealthy investors who got multiple properties.
Investors are keep investing in housing & avoiding tax. Some investors have hundreds of properties & keep buying more & more.....
Now housing investment become primary business. Actually its a necesty. Other business activities are reducing, leads to higher unemployment....
Most ordinary australian drag themself into huge loan to fulfil their dream of buying their own home after competing with wealthy investors.
So its a 30 years of commitment. In future job instability may occur & interest rates will increase....... Then what will happen........ A spectecular property crash......,!
