I wish I had a dollar for every landlord ringing Tom Elliott up on radio 3AW to complain about the effects the Victorian land tax is having on them. Many of them are going to have to sell and invest interstate.
While renters probably aren’t having the greatest time, they don’t get the same radio airtime. They’re busy, working hard – to pay the rent.
Young homeowners aren’t doing too well, either, trying to keep up with the rising cost-of-living that’s largely mortgage-driven. They’re virtually radio-absent, too.
Yep! So, why is it landlords who get the better political hearing?
Isn’t it largely landlords denying homeownership to many aspiring young people? Whereas economists are saying that negative gearing and the 50% capital gains discount are of minimal benefit to landlords, they’re clearly providing more clout for investors at residential auctions. Just attend any auction!
If we peruse governmental policies (of whatever political party), it’s not renters nor young new homeowners feeling the pinch who are getting a hearing: it’s noisy landlords complaining they might have to sell a property or two.
Am I being too cynical, then, in seeing Australian politicians as largely representative of the landlord class? After all, there’s only a handful of politicians without at least one investment property.
Maybe we’ll have to wait for the upcoming property crash from all the speculative real estate investment to see who merits the greatest assistance? I don’t think landlords should be top of the list.
In the period from 2027 to 2030 we’ll certainly be needing the whole VIMMLBUTT package! We can only hope we’ll all get it!