Rental costs forecast to soar

Economists predict a significant 30% surge in rental costs driven by changes in tax concessions, signaling a tough time ahead for many renters. This forecast underscores the growing affordability crisis in Australia's housing market, potentially straining budgets and increasing economic pressure on households. With rising rents expected to outpace wage growth, this shift could lead to increased homelessness and housing insecurity, making it crucial for policymakers to consider supportive measures.