(My disturbing thoughts on the soon-coming Australian Version of THE BIG SHORT.)
If any Australian wise enough to understand the
movie “THE BIG SHORT” and then read Michael Lewis’s book “THE BIG SHORT” would
immediately realise the Australian version of “THE BIG SHORT” has been well
overdue here in Sydney.
Last 35 years since late 1990s, when the
Capital-Gain-Tax (CGT) was halved by John Howard’s Liberal Government, Sydney
houses have been in an incredible floating bubble massively super-inflated by landlords’
favourite the Negative Gearings, for the median house price has risen into the upper-stratosphere.
From well below A$ 100,000 in 1990 to well over A$ 1,000,000 now in 2025.
I still remember the day when I bought my first house in Sydney in 1990, I paid A$ 98,000 for that brick-veneer-three-bedders while I was earning A$ 48,000 a year as a production manager in an engineering company and my wife was on A$ 27,000 a year as a tutor in Sydney University.
