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http://www.smh.com.au/articles/2003/...674381152.html
The figures underscore how deeply the NSW economy has been shaped by the property surge, with a growing number of families dependent on the construction industry and household debt soaring to unprecedented levels because of rising home prices.
The Reserve Bank yesterday blamed housing investors for driving up prices and locking people out of the property market, in its submission to the Government's inquiry into first home ownership.
The taxation treatment of housing investments - including negative gearing - was out of step with other countries, the bank said. It urged the inquiry, by the Productivity Commission, to scrutinise the favourable tax treatment of property investors.
http://www.smh.com.au/articles/2003/...674381152.html
The figures underscore how deeply the NSW economy has been shaped by the property surge, with a growing number of families dependent on the construction industry and household debt soaring to unprecedented levels because of rising home prices.
The Reserve Bank yesterday blamed housing investors for driving up prices and locking people out of the property market, in its submission to the Government's inquiry into first home ownership.
The taxation treatment of housing investments - including negative gearing - was out of step with other countries, the bank said. It urged the inquiry, by the Productivity Commission, to scrutinise the favourable tax treatment of property investors.
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