There’s something deeply unsettling about watching people pack up and leave Australia because they can’t afford a home here. Not because they don’t like the country, not because of job opportunities elsewhere, but simply because the basic human need for shelter has become financially unattainable. I’ve been following a discussion online recently about people considering leaving Australia after moving here with such hope and optimism, and it’s struck a chord with me in ways I didn’t expect.

I’ve been thinking a lot lately about what numbers mean to us. Not in a mathematical sense, but in that psychological way where certain figures become cultural markers. You know, like how $1 million used to be the definition of wealth, or how $100,000 was once the salary that meant you’d “made it.”

That second one particularly interests me because I’ve been watching it lose its lustre in real-time. Someone online recently pointed out that the median full-time salary in Australia is now sitting just over $104,500. Let that sink in for a moment. The median – meaning half of all full-time workers earn more than this. A hundred grand isn’t aspirational anymore; it’s literally average.

The property investment debate has reared its head again, and frankly, it’s about time. The Parliamentary Budget Office recently dropped some numbers that have got everyone talking: 80% of capital gains tax discount benefits flow to the top 10% of earners, while 60% of negative gearing benefits go to the top 20%. When you put it like that, it’s pretty stark, isn’t it?

What’s fascinating is watching the responses unfold online. There’s this persistent narrative that any changes to negative gearing would devastate mum-and-dad investors, but the reality seems far more nuanced. One user made an excellent point about how properties naturally become more positively geared over time, meaning established investors with multiple properties would largely be unaffected by changes. It’s really the high-income earners buying expensive coastal properties with terrible rental yields who’d feel the pinch – and honestly, that doesn’t sound like such a tragedy.