Honestly, Australians are the most media gaslit people on earth.
Yes, even worse than the US.
This is because, unlike the US, our mainstream press is a desperate vested interest attached to a dying housing bubble economic model that it will never let go.
To wit, we get propaganda like this:
Australians are open to some of the leading options to overhaul negative gearing and scale back billions of dollars in tax benefits on investment properties, but only a small minority want to scrap the concessions entirely.
An exclusive survey reveals that 46 per cent of voters favour reforms to limit the value or number of claims people can make for their investment properties, highlighting the way the contentious ideas could shape the federal election.
…There is a narrow majority of 52 per cent, however, for the Coalition’s key housing policy, letting first-home buyers draw on their superannuation for a $50,000 deposit on a property.
Are these the only housing fixes? No.
Are they the best housing fixes? No.
Will any of them fix housing? No.
What is missing, of course, is a question about reducing housing demand by slashing immigration.
Here is what that chart would look like:
Three quarters of Australians know that this would be an instant solution to the rental crisis as the stock of migrants began to fall.
This would crash interest rates so housing prices would rise for a while on easier credit.
But not so much with the market aware that offshore demand was gone, and those higher prices would trigger a supply response.
Soon enough, prices would stall out and fall in real if not nominal terms for a long time.
That’s why the real solution is never discussed.
It would work!
