House prices have doubled or tripled in recent times so most people in Sydney are excluded from the market. Concerns, dismay, debate, lip service have resulted.
Increased revenue from state stamp duty; double percentage profits to real estate agents; hefty long term bank loans to profit the banks;
the home reduced to an investment commodity; negative gearing tax breaks for investors;
high demand for rental properties and profiteering;
liberal free market non-intervention policy of do nothing.
These must be a few of the points that prolong the situation.
1 comment:
Much the same here, depending on the city.
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