[Podcast] The Shocking Truth About Property Taxes: Why Your Home is Unaffordable!

In today’s show, I chat with Ross Elliot, a prominent voice in the property market and urban development.

Ross recently penned a thought-provoking article titled "The Housing Fix We Actually Can Do," where he delves into the impact of taxes on property affordability and offers practical solutions to this pressing issue.

We'll discuss the current tax policies and their effects on housing affordability and explore feasible changes that could significantly improve the situation.

Unpacking Australia's housing affordability crisis with Ross Elliott

In this episode, Ross Elliott and I chat about various aspects, from the impact of tax policies to the role of domestic and international investors and potential future strategies for making housing more accessible.

• Ross Elliott and his perspectives on Australia's housing affordability crisis
• Current tax policies and their disproportionate impact on new housing versus established properties
• Why policy-induced problems persist despite numerous inquiries and task forces
• Unrealistic proposals like significantly reducing median house prices or increasing incomes and their economic implications
• The roles of local and international investors in the housing market and their impact on housing affordability
• Breakdown of tax policies such as negative gearing and capital gains tax, and how they compare to homeowner benefits
• The complexities and controversies surrounding foreign investment in Australian property
• The long-term implications of current housing policies, including declining urban birth rates and intergenerational equity issues
• Future strategies for affordable housing, including potential policy changes and innovative financing methods

Ross Elliott provides a comprehensive analysis of the multifaceted housing affordability crisis in Australia, emphasising the need for practical solutions and strategic planning.

This episode is a must-listen for anyone interested in understanding the complexities of the housing market and exploring viable strategies for future affordability.

Links and Resources:

Michael Yardney

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Ross Elliott – subscribe to his blog here.

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Some of our favorite quotes from the show:

“I have kids and grandkids and a lot of people understand that the next generation has to get into the housing market. You said the government doesn't want to be overseeing a housing collapse either. So there's, I guess,there are  too many vested interests.” - Michael Yardney

“Interestingly, one thing that's often forgotten is the big tax benefit homeowners get, Ross. In other words, if you bought that $2.5 million home you mentioned a while ago and then your kids have left home and you want to right size and you sell it, there's no capital gains tax.” - Michael Yardney

“Whilst the time we've got left is limited, there is enough of it to give us a meaningful life if we use it wisely and we're conscious of how much of it we've got left.” - Michael Yardney

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