In a stark warning, renowned real estate expert Tom Panos has expressed strong concerns about the proposed changes to negative gearing laws, cautioning that such reforms could wreak havoc on the livelihoods of many everyday Australians. According to Panos, the changes could disproportionately affect those earning under $100,000, including essential workers such as teachers and nurses.
The expert stressed that the proposed reforms could have far-reaching consequences, especially given the massive number of investment properties in Australia. As it stands, 8.5 million properties – a staggering third of the country’s population – are either rented out or used as investment properties. This means that policy shifts could swiftly ripple through the entire market, causing widespread disruptions.
Furthermore, Panos brought to light the alarmingly prevalent issue of underquoting, where real estate agents intentionally quote lower prices to attract more buyers. This tactic only serves to exacerbate an already oversupplied market, leading to a distorted reality where some buyers are unknowingly overpaying for properties.
With a disproportionate 12 out of 16 properties already sold, Panos is urging the government to exercise extreme caution when implementing further property market reforms. His stark warning serves as a reminder of the importance of careful consideration and thorough analysis before making sweeping changes to the property market.
𝐒𝐮𝐛𝐬𝐜𝐫𝐢𝐛𝐞, 𝐥𝐢𝐤𝐞, 𝐬𝐡𝐚𝐫𝐞, 𝐚𝐧𝐝 𝐜𝐨𝐦𝐦𝐞𝐧𝐭 𝐭𝐨 𝐬𝐭𝐚𝐲 𝐭𝐮𝐧𝐞𝐝 𝐭𝐨 𝐲𝐨𝐮𝐫 𝐟𝐚𝐯𝐨𝐫𝐢𝐭𝐞 𝐧𝐞𝐰𝐬 𝐜𝐡𝐚𝐧𝐧𝐞𝐥!
📌YouTube- https://www.youtube.com/@serendibnews
📌Facebook – https://web.facebook.com/serendibnews.com.au/
📌Instagram – https://www.instagram.com/serendibnewsau
📌TikTok – https://www.tiktok.com/@serendibnews
📌Twitter- https://x.com/SerendibNewsAu
📌LinkedIn- https://www.linkedin.com/in/serendib-news-au/
📌WhatsApp Group – https://tinyurl.com/2as67j52
📌WhatsApp Channel – https://tinyurl.com/bdf8f2jr
