Media sensationalism won't hide the facts: Tax concessions built this housing crisis.
Media headlines about falling house prices miss the point entirely.
A minor market correction is not a disaster; it is a necessary adjustment for an inflated $12 trillion market.
Blaming immigrants for housing unaffordability ignores recent history: when borders were shut during the pandemic, immigration fell off a cliff, but dwelling prices soared to record highs anyway.
The real catalyst is policy.
Data shows over 1.3 million Australians utilise negative gearing, alongside generous CGT discounts that treat existing housing as tax shelters rather than shelter for people.
Now, with values easing roughly 5% off their peak, many over-leveraged multi-property owners are panicking over prospective tax reforms and rate pressures.
Threatening to leave properties vacant or unload them to avoid paying taxes highlights a fundamental flaw in how investment is approached.
Tax incentives should encourage genuine productive growth and new construction, not subsidise investors to outbid first-home buyers for existing homes.