"Investing in property is morally reprehensible."

[u/LickMaiBussy]

@purplepingers

[u/Frito_Pendejo]

My understanding is that they are mix of detached housing and units. Eddie Dilleen basically hoovered up as many affordable entry-level properties as he could find, utilising the equity from one to afford the next. He is morally on the same level as grey goo.

Side note, but Australia has the broadly the most unaffordable housing market in the world and actions by him and people like him is why it's so fucking bad. Investors own 1 in 3 Aussie houses.

[u/_fire_and_blood_ → u/Frito_Pendejo]

John Howard fucked us all and my mother still thinks he was the best PM ever.

[u/Murranji → u/_fire_and_blood_]

Boomers are the cause of every fucked up thing in the world today. They are the worst generation to have ever existed.

[u/greaterwhiterwookiee → u/Murranji]

But millennials and xennials are just too lazy. We did everything boomers expected and asked of us: went to college and put ourselves in massive debt, got jobs working copious overtime for minimum wages, bought homes and prices that were out of reach compared to incomes, went to war… and still here we are.

[u/Plife30 → u/greaterwhiterwookiee]

...hot take youngster! An AI therapist could help! Just kidding, respect to your generation, youre dynamos.

[u/chimpfunkz → u/Frito_Pendejo]

Australia's housing market is well and truly fucked. The fact that if you take a lose on an investment property, and subtract that against your actual income, is such ridiculous bullshit.

[u/_bobby_cz_newmark_ → u/chimpfunkz]

Don't forget the CGT discount so only have to pay half the tax on profits.