Expats add to forced property sales

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It’s not just interest-only. More forced sales are coming, via the AFR:

As part of a housing affordability package in last year’s budget, the government announced it would deny CGT main residence exemption for foreigners.

Reaction was muted at first but expats slowly realised they, too, would be caught by the measure.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.