The great Australian betrayal (we used to call it the dream)

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Today, Australian home values are worth about seven times the average salary. In Melbourne, it’s eight times.

The authors point to the obviously harmful impact of the capital gains concessions on investment property, which has inflated demand for housing while encouraging property to be viewed as a speculative vehicle for wealth accumulation rather than a fundamental need.

We are now at a crunch point, the authors argue, where in addition to the obvious inequality of Australia’s housing system, the manifest failure to ensure a path to home ownership will put increasing stress on the national budget as households that do not own their home require higher support payments in retirement to cover housing costs.“There is no responsible ‘business as usual’ option,” Hal Pawson told a Committee for Sydney event this week to launch the book.

Reform of tax breaks on housing, most pressingly on investment housing, must be on the table, the authors argue. As must a switch in the tax base of state governments from stamp duty to a land tax.

 

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The horse has bolted, affordable housing is just a fantasy, government’s fault, tax incentives, allowing foreign buyers/speculators, turning housing an investment commodity

When you bring in Superanuation paid by employer, annual leave of 8 weeks, sick pay, maternity leave ect ect nowdays, it would be more like 5 times the annual salary........same as 40 years ago. Stop whinging.

Instead of sensationalising the problem how about doing some good investigative journalism and identifying what's led to this and what needs to be done to rectify it.

Isn’t Melbourne... like ... still part of Australia?

A thoroughly confusing and confused article.....

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