Chapter 20 of "The Great Housing Hijack"

My Favorite Quotes

“Plenty of places around the world have tried all sort of different tax settings, and none really makes a difference to housing rents.”

“Even housing that is rented at a discounted price is a decent investment… That’s a 7.8 per cent annual return while at the same time providing cheap homes to tens of thousands of people.”

“After the 2008 financial crisis, the then Rudd-led Labor federal government gave $6 billion… to build new homes…This was done for the macroeconomic benefits of higher construction activity, as everyone knew that up-zoning and other hoax policies weren’t going to do the job of fast homebuilding.”

“Because of the importance of property markets to the macroeconomy, stabilising the property asset cycle is desirable for economic and financial stability reasons, even if it will not directly make housing cheaper.”

“It was a policy that gave subsidies to property owners to build dwellings and rent them out to eligible tenants at 20 per cent below market rents for ten years… meaning that of the $11,000 [annual subsidy], only $4,000 was a rental discount to the tenant, and over $7,000 was given to property owners.”

“Because taxes on property have enormous effects on asset pricing and wealth, they generate enormous and ongoing political battles.”

Find your favorite quotes. Book available at https://www.amazon.com/Great-Housing-Hijack-keeping-Australia/dp/176147085X.