Higher interest rates smashed landlord profits, but negative gearing means few sold up

There’s two groups of people in Australia,

Those who see a broken system and strive to change it,

And those who see a broken system and strive to exploit it.

Had a genuine conversation with a young medical student who was explaining to me that you can’t make money practicing and that your goal should be instead to own the practice. He didn’t seem to think that there was something broken with a system where it is better to own doctors than to be a doctor. Through our conversation I realised that he saw the problems with the system and was trying to figure out how to “come out on top” of it. These people get on top and then naturally want the system to stay broken because they put in the effort to become an exploiter. They genuinely don’t understand why people might want to change the system, rather than exploit the system. They think we’re too stupid to exploit it.

Higher interest rates smashed landlord profits, but negative gearing means few sold up