Another aspect that so far mothing has been said about it is the income tax exemption from net inputted rent derived from home ownership.
What follows is ECN101 stuff coming from ABS and RBA.
"Net imputed rent is an estimate of the value of housing services that households receive from home ownership or by households paying subsidised rent or occupying their dwelling rent free..."
"Housing services are a component of both household income and consumption in the national accounts. Housing services consist of two main components: 1) the rent paid by tenants to landlords (or ‘market rent’); and 2) the rent paid by home owners to themselves (or ‘imputed rent’). For the home owner, the value of housing services is measured as the income the home owner could have received if the house had been rented to a tenant. In essence, it is assumed that a home owner is paying rent to themselves as they represent both the tenant and landlord of that property. The rents imputed on owner-occupied housing are the largest component of personal consumption expenditure,.. "
