"To me it's definitely a no-lose game, it's the best way to create wealth in Australia,"
This article gives us an insight into the Australian real estate market. It seems to be the mindset for the average Australian. Everyone wants in, as it's pretty much been "up only" for ~20 years.
She puts the lack of a widespread landlord sell-off down to two things: negative gearing rules allowing investors whose rentals were losing money to reduce their personal tax bills, and the promise of a large payday when rentals were sold, sweetened by the 50 per cent capital gains discount.
"Negative gearing" allows one to offset their income tax with mortgage payments. An easy way to lever up on debt and buy more properties. Also a failsafe way to widen the gap between rich and poor.
The framing here of the 50% capital gains "discount" paints it in positive light, like the government is doing to a favor or something. Usually landlords don't want to realize this tax and only sell if they absolutely have to.
Australia Institute chief economist Greg Jericho says falling rental profitability in the ATO data shows negative gearing is becoming "a much more common situation" and investors are "winning both ways".
This is why I think that most Australians will be late adopters of Bitcoin. Until there's a crash in the real estate market, people will continue piling leveraged capital into it. And TBH I don't know what brings it down.