TENANTS’ UNION OF NSW CHIEF EXECUTIVE LEO PATTERSON ROSS SAID:
“People are living in converted garages, in dodgy apartment buildings with illegal conversions, and all because we haven’t set up our housing system to house Australians, we’ve set it up as an investment [opportunity].”
ESSENTIAL WORKERS LIKE …
-Aged-care nurses, supermarket managers and factory workers
–Checkout operators, commercial cleaners, delivery drivers and childcare workers
-Social workers, registered nurses, truck drivers and teachers
THIS appalling predicament has its roots dating back to the late 1990s when the Howard Government set this in train …
… the Howard Government enticed Middle Class Chinese to invest in our Education and Real Estate to gain ‘Flexible Citizenship’ … this then led to the growth of Temporary Visas, and through investment these Visa Holders were able to gain a ‘Permanent Resident’ Visa!
The increased competition further reduced the supply and pumped up house prices locking out Australians from the prospect of home ownership … our Real Estate is awash with ‘Black Money’!
AND the Howard Government introduced Negative Gearing and Capital Gains Tax discounts which allowed wealthy investors to grow their housing portfolios of established housing at the expense of home buyers seeking an abode to live in!
In this constrained housing market obviously these Tax Benefits should only be available for ‘NEW HOUSING’ construction!
READ MORE! AND PLEASE SHARE!
Essential workers face rental stress right across Sydney