[somecallitblues]

Best comment here. Sydney AU has the same problem. The government is addicted to stamp duty and doesn’t want to do anything about the negative gearing and other handouts for the rich baby boomers. The situation is completely fucked up.

[eru]

Stamp duty is exactly backwards. They shouldn't tax transactions (that usually improve economic efficiency almost by definition), but they should tax holding land.

Negative gearing is a special kind of Australian crazy. Must be the drop bear bites.

[zerogvt]

Feels quite similar to Ireland as well. Another rental market that has gone insane over the past 4-5 years.