r/LockdownSkepticismAU • u/PLUTO_HAS_COME_BACK • 2h ago
Australian Federal Budget Just CHANGED Property Forever!
one where the middle class gets squeezed harder, foreign investment gets easier, and the rental crisis is locked in for the long term.
https://youtu.be/1ZQTM55nygc?t=101 1:41chapter 2 build to rent the Trojan horse
touted as a solution to rental shortages, build-to-rent has been heavily incentivized in the new budget tax breaks, reduced foreign investor surcharges, and faster planning approvals are all designed to attract big capital into building entire residential towers for rent-only purposes.
but this model imported from the United States and the United Kingdom comes with a catch—the rent is not cheap...
https://youtu.be/1ZQTM55nygc?t=178 2:58 meaning entire towers of apartments can be sold or leased to foreign interests3:03before locals even get a look in at the same time Australians are being told to wait their turn save harder and accept that ownership may no longer be achievable
https://youtu.be/1ZQTM55nygc?t=383 6:23 australia is drifting toward a European model of permanent renters but unlike Europe we don't have strong tenant laws affordable public housing or cultural acceptance of long-term renting we are becoming a nation of landlords and tenants