Haha.... "Negative gearing causing house prices in Sydney and Melbourne to skyrocket, report says".
Welllllll..... The report doesn't actually say that. It recognises that it's a contributory factor in house prices being high but states many other reasons for the ridiculously high prices. Eg
Low interest rates
Banks making it easy to borrow - often beyond means
Housing supply issues
Migration and population growth
State governments planning rules allowing too many apartments and not enough family friendly housing.
Got to love how the media twist things and take them out of context and expect readers to just take their articles as gospel.
I'm not taking it as gospel I'm just sharing an article for people to read.
Kind of off topic, but recently noticed that auction clearance rates in Sydney have dropped and median house prices also dropped in the last couple of months. Sign of things to come maybe?
Just found this now:
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