00:00Two 25 year olds, both hardworking but facing two potentially very different financial futures.
00:09One is a homeowner.
00:11I was fortunate enough to have a family who was willing to let me stay at home essentially until I saved up a deposit.
00:17The other a renter.
00:19I'm still unsure whether or not I'll be able to save enough to get a home.
00:23New research from UTS and Melbourne University found that while the average disposable income of outright homeowners is 34% higher than renters,
00:34when housing is counted, that income gap widens to 86%.
00:40Including that, Australia rises to become the 10th most unequal country in the OECD.
00:47There's two ways you get effective income from your own home.
00:52The first is you effectively pay yourself rent.
00:57The second component is the capital gain that you get on housing, particularly in Australia
01:02where we've had quite substantial capital gains on property certainly over the last 30 years.
01:09The economists argue exempting the family home from the capital gains tax costs the budget $50 billion a year,
01:17discourages more productive forms of investment, pushes up home values and locks young people out of the property market.
01:25To make the system fairer they're calling for a tax on land, wealth or the family home.
01:31There are obviously areas that no sensible government would go near and that's one of them.
01:36The boss of the nation's biggest bank says he'll raise housing affordability at the government's economic round table.
01:43When we look at future generations and even younger Australians now I think it's hard to save for a deposit.
01:49The Australian dream getting further out of reach.
01:52The Australian dream getting further out of reach.
01:54Harvest Rio好icher
01:57?
01:58The Australian dream getting further out of reach.
Comments