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Experts Warn Rising Housing Wealth Fuels Inequality Crisis

2/24/2026

Summary

Story summary

Bob Breunig, a tax expert at the Australian National University, warned during parliamentary hearings that rising housing wealth creates a neo-feudal society where prosperity depends on parental property ownership.
He said inequality exists within generations and criticized the tax system for transferring funds to wealthy older individuals.
Former Reserve Bank governor Bernie Fraser called for abolishing the capital gains tax discount, saying it could significantly affect house prices.

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Story summary

Bob Breunig, a tax expert at the Australian National University, warned during parliamentary hearings that rising housing wealth creates a neo-feudal society where prosperity depends on parental property ownership.
He said inequality exists within generations and criticized the tax system for transferring funds to wealthy older individuals.
Former Reserve Bank governor Bernie Fraser called for abolishing the capital gains tax discount, saying it could significantly affect house prices.