Gen x here. Agree. We get leveled. Again. Whilst the boomers just coast through it, mortgage free, reaping bucket tonnes from their multiple properties and huge super, and sipping their laté in delight.
Comment on Higher interest rates smashed landlord profits, but negative gearing means few sold up
null_dot@lemmy.dbzer0.com 1 day ago
Obviously negative gearing and capital gains tax concessions have to go. I think gone completely, all at once is probably not the right move but I’ll let the modelling people figure that out.
That said, using interest rates as a way to throttle economic activity is fucking bullshit.
With the eye watering interest rates we’ve had over the last several years it’s been Gen X and under doing the heavy lifting while as usual boomers enjoy the benefits.
I don’t really have a solution but fuck me there has to be a better way.
makingStuffForFun@lemmy.ml 1 day ago
buxtente@lemmy.world 16 hours ago
We’ve legislated ourselves into a corner - we can’t get rid of CGT concessions and negative gearing without crashing the housing market and therefore our economy…
The only way out is slowly introduced reform that aims to flatten house prices, but it has to be done almost clandestinely so as to not scare investors.
null_dot@lemmy.dbzer0.com 9 hours ago
I agree that changes need to be measured and carefully considered.
There’s so many ways to do that though, grandfathering or capping.