Enosh has a $600,000 deadline. The clock is ticking
A young Australian mortgage adviser is aggressively saving to purchase a family home while navigating the complexities of negative gearing. He expresses concern over upcoming federal tax changes that will restrict negative gearing benefits to new residential builds, impacting his investment strategy.
Why it matters
The story highlights the intersection of intergenerational wealth gaps, housing affordability, and the impact of government tax policy on individual investment strategies.
Enosh Tampoe, 23, and his family migrated from Sri Lanka 16 years ago and have been living in the same rental property since then. The Sydney mortgage and finance adviser says that as an immigrant family "starting from scratch", he felt financially behind his friends at times growing up. "There were situations where I did feel like [I was] potentially behind — just because at the end of the day, there is that intergenerational wealth ...You'll notice obviously, they have their own houses; they have nice cars ..." he told Insight. "Having that support from parents — whether it's in the form of getting money or continuing to live at home rent-free and all that stuff — definitely helps."
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