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When Building Dreams Costs More | Melbourne News
Description
Property prices are crashing nationwide, leaving buyers like Alex Hogan in a bind—his dream home project is now financially unviable as construction costs climb and values plummet. Amid rising interest rates and new government tax reforms on investors, critics say families are being squeezed while some, like Alex, choose to sacrifice personal gain to avoid a two-tier housing society. Economists predict a rebound by 2028, but for others, like Remy Coll—who’s now an accidental landlord—life’s gotten unexpectedly complicated, stuck with dual mortgages and extra work, even as he believes the reforms were necessary for the long term.
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