Like many Australians, I was a ‘rent-vestor’. No one should have to do what I did just to secure housing | Neha Madhok
While I owned an apartment, I couldn’t afford to live in it – forced to become a speculative investor just to have a shot at shelter
Until recently, I was a landlord. And I support Labor’s proposed changes to negative gearing and capital gains tax.
A decade ago, I booked consultations with every type of Australian bank. Even though I had $70,000 (my entire life’s savings) and a permanent full-time job, like many others at the time, I couldn’t secure a loan. The lender was clear: with this deposit, I would be lucky to afford anything in Sydney. The lender suggested I ask my parents, as though everyone can just ask their parents for an easy $30,000 top up to their deposit.
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