Yesterday, the major newspaper reported on the First Home Buyer price strike on the front pages. Judging from the numerous vitriol and insults in the ensuing comments of the article, it is very clear that this social media campaign has touched the raw nerves of many. It goes to show that far too many people in Australia are too emotionally invested in property.
Related to this cause is the issue of negative gearing. Economist Saul Eslake put it the best in yesterday’s Sydney Morning Herald article- Imagine a tax system that penalised work. If you feel very much against negative gearing, you may want to join this Facebook cause: End negative gearing tax subsidy, affordable housing for next generation.
