this post was submitted on 16 Oct 2024
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New data reveals thousands of Australians who own 10 rentals or more (www.abc.net.au)
submitted 3 months ago by [email protected] to c/[email protected]
29 comments fedilink hide all child comments
 

And as the article says - this data is only from individual tax returns. It doesn't cover companies.

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[–] [email protected] 5 points 3 months ago (1 children)

This is always where it gets complicated. One house is pretty limiting. Lots of people have holiday homes - should that become illegal? People buy homes to support family (particularly elderly or disabled family) members in an environment that allows them some space and independence.

Should a married couple be allowed to have two homes? Should I be allowed to buy homes in my kids' names to get around such a limitation?

I don't have the answers to any of this. Housing is a super complicated and politically charged topic. There are a million millionaires out there with the bulk of their net worth tied up in the value of their homes. The scary truth is they don't really want to solve this problem, because if houses stop costing most of a million (or more) dollars to buy, they stop being millionaires.

[–] [email protected] 9 points 3 months ago (1 children)

I would rather have it be a case of everyone gets a house before anyone gets a second, regardless of an individuals economic ability.

[–] [email protected] 2 points 3 months ago* (last edited 3 months ago)

Taxing tends to even that out. Increasing the % for every property over ppr.

Of the multifacets there are two bigguns: the cash cow of investment properties and tax breaks, and developer landbanking and artificial restriction of supply on new builds.

Tax the shit out of both of these.