For many around the country, especially Baby Boomers, property investing is a national pastime. But if you look closely, landlord numbers are declining.
Once upon a time, property was just a place to live. Now for many, bricks-and-mortar investing is closer to a national pastime – an asset class viewed as something between a retirement plan and a ticket to instant wealth.
Real estate investment has increased steadily over the past few decades, quadrupling from just 5 per cent of taxpayers in 1980 to 21 per cent by 2014, according to an analysis of figures from the Australian Taxation Office.
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Michael Read is the Financial Review's economics correspondent, reporting from the federal press gallery at Parliament House. He was previously an economist at the Reserve Bank of Australia and at UBS. Connect with Michael on Twitter. Email Michael at michael.read@afr.com
