The big myths about the housing crisis
7am
00:00
The Rise of the Affordable Housing Crisis in Australia
The Howard Government's halving of the capital gains tax in 1999 lit a fire under the property market. It also combined with the liberalisation of mortgage finance rules, which made it easy to get alone. The general rise in income and wealth inequality also led to those wealthy Australians simply taking up more space. Instead of renting out houses on the long term market, whereby they go to lower income earners, they are rented on the short term market at a premium. We'll be back after this.
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