IN­VESTORS HIJACK HOME MAR­KET

The Sunday Telegraph (Sydney) - - OPINION | OURS & YOURS -

We came from the UK and strug­gled to bor­row five times of our in­come there (“The cou­ple who asked strangers to share a mort­gage”, 25/2).

Here we can bor­row to eight and up to 10 times if we claim it’s for “in­vest­ment pur­pose”. We are rent­ing a $1500 per week house, for which the owner paid over $3 mil­lion at the end of 2017.

I’m only guess­ing they have to heav­ily neg­a­tive gear, as the fig­ures sim­ply don’t add up.

The whole sys­tem in Aus­tralia is hugely in favour of in­vestors and the house price is based on spec­u­la­tion.

NING ON­LINE COM­MENT

Newspapers in English

Newspapers from Australia

© PressReader. All rights reserved.