I sent another letter to the editor

Let's be honest, one of the reasons rents are skyrocketing is because of greed.
Yes, those who have a mortgage on an investment property need to cover rising interest payments. Never forget, they already own a home and have decided to use the housing market as a profit making strategy.
Another reason for higher prices is Real Estate agents advising landlords to raise their rental prices to make a larger profit year after year. Not forgetting that the higher the rental, the more the real estate agent creams off the top.
Without controls in place, rentals will never go down, forcing an ever larger percentage of the population to become homeless.

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whowasthatmaskedman · 70-79, M

Although it may not sound like it at first I agree completely with you. My son and Daughter inlaw are a professional couple and own (in partnership with their bank) a total of 9 properties including the apartment they live in. What makes them different from many others is their their investment properties are all cash flow positive, whicj meand that negative gearing of the mortgage debt doesnt apply to them. And their tenants over time will pay for those houses.
Thats not the case for many people, who rely on the tax deduction to make their investment pay.. And thats a terrible government policy, put in place to encourage Australians to get rich and provide for their own retirment. but its got out of hand in the hands of the real estate industry and really needs to be stopped.. The recent interest rises hurt a lot of people. Driving them close to losing homes.. And with investors, the easy way out was to slap the burden onto the tenants. By definition the most vulnerable group..😷

Gusman · 61-69, M

@whowasthatmaskedman Nothing will change because the real estate industry is a very powerful one.
Worth over $80 billion annually and employing over 140,000 people

whowasthatmaskedman · 70-79, M

@Gusman Plus the connctions to the financial service industry and bank profits. and the government stamp duty of land purchases. I agree. So much of politics is about preserving the Status Quo..Those who are making money donate it to poliical entities who will allow them to keep making it..😷