Australia’s housing market isn’t a ladder, it’s a Ponzi scheme. And the government’s latest “first home buyer” plan? Just another injection straight into the property lobby’s veins.
Michael breaks down how the new scheme will once again drive prices higher, feeding developers, investors, and politicians with five investment properties while renters queue for apartments in Bondi.
We look at the real fixes: end negative gearing perks, scrap CGT discounts, tax Airbnb rorts, and slap a Singapore-style stamp duty on foreign buyers. Everyone knows how to fix it, no one’s got the guts to do it.
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Michael West established Michael West Media in 2016 to focus on journalism of high public interest, particularly the rising power of corporations over democracy. West was formerly a journalist and editor with Fairfax newspapers, a columnist for News Corp and even, once, a stockbroker.
