13 May

The changes to capital gains tax and negative gearing were long, long overdue. But it won’t fix housing. Supply is not the problem. Housing and land were transformed back into status objects, as they’ve been for most of human history. The ‘landed gentry’, we all know what that means. Only one time in all of human history has housing been owned by and affordable to ordinary people. After the two world wars, when the existing landed aristocracies were smashed.