Some readers will be familiar with a famous refrain from the Tea Party “Keep your Government hands of my Medicare payments”. Anyway, I liked this property newsletter which complained that negative gearing really wasn’t what it used to be:
It’s been all bad news for property investors in Australia for the last 5 years. All of the benefits of “Negative Gearing” have evaporated between government intervention through lower taxes, Banks lowering LVR’s and raising lending criteria and a flattening out in house price rises. No wonder buyers are now saying “why bother”.
Why indeed. What is the country coming to? Soon you’ll have to earn your living.