Yes, young Australians will feel the budget changes more acutely. But the risk is that they don’t go far enough | Intifar Chowdhury

It’s a strange world. It isn’t that there aren’t enough houses - well not just that. It’s that too many houses are owned by people who do not live in them.

Mr. and Mrs. Boomer and their property portfolio of seven homes are suppressing supply for six other people/families.

Then you have Mr. Foreign who has a place or two in Australia as a safe way to secure wealth in a place out of reach of his own government who might one day decide to simply take over all his assets.

50 years of successive Australian governments have been encouraging investment in real estate. I’m sure there were great reasons for it initially like keeping wealth within the nation. But now we’ve gone too far.

If we could get all those property investors to sell their properties, we’d go a long way toward meeting housing demand with existing supply.

I love how people renting out properties suddenly are pretending they weren’t raising rents already. Yet now they’re threatening to lol