‘Build to Rent’ Hearing Shows Labor’s in Disarray on Housing
Today’s Senate Economics Committee hearings demonstrate Labor is out of ideas on housing.
One of their warped ideas to advantage foreign investors to own Australian housing was considered in detail. Labor’s ‘Build-to-Rent’ scheme is both a perversion of the Australian Dream and technically unworkable.
Some assert this is a bizarre policy option. Independent economist Cameron Murray told the committee of the tax status quo:
“It’s not clear why local investors shouldn’t be advantaged over foreign investors in Australian housing.”
It is a good point. The Coalition doesn’t want foreign fund managers and super funds to take out Mums and Dads as owners of Australian housing. Others claim the proposed law won’t work.
The Property Council said “in their current state, the Bills will undermine the government’s stated intention…”
‘Build-to-Rent’ would change the character of Australian housing from individuals to institutions. This is another sad chapter in Labor’s destruction of the Australian Dream.
Labor has failed on housing. The Committee will table its Report on 04 September 2024.