(05-25-2023, 04:55 AM)Mav date Wrote:And it’s great to see that they’re already being given a chop out: Landlord tax breaks to exceed $100b, Australian Financial Review.It's just horrendous isn't it.
At the moment so many are having adult kids move back in, we aren't talking teenagers, but late 20 or even 30 somethings with fulltime employment who either can't afford a mortgage or can't find a house to rent that they can afford! Qualified Tradies, Nurses, Salespeople, even the self-employed are being screwed over by soaring mortgage and rental prices.
Something is about to break, if I was dependant on cash flow from heavily financed property portfolios I'd be liquidating some assets and getting into the black as soon as possible.
COVID made things horribly worse, many inner city well-to-dos headed into suburbia and surrounding regions buying "cheap" investment properties for temporary accommodation. They renovated droving up the property prices, and now demand high rentals beyond the remit of the locals they originally displaced.
"Ruck, ruck, ruck, ruck ....... Ruck, ruck, ruck, ruck"