Hi MS,I wouldn't say mum & dad investors make up the majority, so what would that mater if they left, most investment properties are owned by the elite in the medical industry. I live on the Mornington Peninsula where a lot of people have a holiday house not rentals and the ratio of houses that are for sale to rentals is staggering, which is an indication as to the state governments housing taxes taking effect & resulting in all these houses to be put on the market. There is big completion in between sellers down here & the smart ones are dropping their prices and getting out.
MS taxes are both good and bad, hence the bad, giving a tax deduction to a wealthy person on a residential house has distorted the market and has wedged the less well off into a life of poverty, I call that disgraceful.
Taxing cigarettes to the hilt is a good thing, the 3 billion that is lost is only a short turn issue, but the long term benefits far out weight the loss of any money, better health, putting extra money into super, paying for university, maybe that money could go towards a deposit for a home.
The people who are committing these criminal act will only be short live as with most of these thing they will become unfashionable and only the wankers will continue to smoke, sure this will go on for a few years but it will bleed out.
I do feel there is a change in sediment towards using housing as an investment.
If only the federal government would put a ban on members of parliament from owning an investment property, they wouldn't have this conflict of interest, but it is what it is.
Anyone who votes for either the federal LNP or the ALP that rents or has adult kid at home have got rocks in their head, so I will be voting for the Greens @ the next federal election because they want a rent freeze
