Why Australia’s Housing Crisis Is a Warning for the World [video]
The middle classes in Australia have a lot of expendable income and not much to do with it. So &quot;safe&quot; investment properties have become very popular. This has resulted in a lot of peoples investments being tied up in real estate. This makes any serious reform politically impossible for the foreseeable future. and people who don&#x27;t have investment investment properties don&#x27;t want the value of their home to decrease.<p>The current Labor government lost a previous election in part due to proposed changes regarding the taxation of investment properties. It dumped[0] those policies and won the last election.<p>Property has become a cringy weird national obsession to the point where high-school children [1] and are thinking about it.<p>[0] <a href="https:&#x2F;&#x2F;www.afr.com&#x2F;politics&#x2F;federal&#x2F;labor-axes-neg-gearing-cgt-curbs-waves-though-income-tax-cuts-20210726-p58cv5" rel="nofollow noreferrer">https:&#x2F;&#x2F;www.afr.com&#x2F;politics&#x2F;federal&#x2F;labor-axes-neg-gearing-...</a>
[1] <a href="https:&#x2F;&#x2F;www.youtube.com&#x2F;watch?v=kMdA_fRzySk">https:&#x2F;&#x2F;www.youtube.com&#x2F;watch?v=kMdA_fRzySk</a>