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EulerLagrangodamus - tevm/acc
@eulerlagrange.eth
American here. From what I understand there is a law in Australians that prohibits foreigners from buying homes. They have to build new ones instead. Correct me if I’m wrong. How do you guys feel about it? Genuinely curious, I don’t have a dog in the fight.
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kripcat.eth
@kripcat.eth
It’s pretty insignificant in the broader context of the housing crisis. House prices here are largely driven by domestic not foreign investment in property, incentivised by tax policy which favours housing as an asset class. (Exceptions and reductions to capital gains tax & negative gearing).
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kripcat.eth
@kripcat.eth
Highly recommend the latest Quarterly Essay by Alan Kohler if you want to learn more about housing in Australia. https://www.quarterlyessay.com.au/
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