Tax.

There's an otherwise-unremarkable story in today's Australian about the remote possibility that the capital gains tax exemption for owner-occupied housing might be scrapped. But the really great great part about it was left out of the online version. It's a picture of the young couple who are quoted towards the end of the story. They're on the terrace of their North Sydney apartment and behind them you can see the bridge and the harbor and whatnot. And then there's the caption:

Thomas and Katherine Ko, who are selling their apartment at Milsons Point, Sydney, for upwards of $3 million, oppose the idea of a capital gains tax on high-end family homes.

Well they would, wouldn't they? I don't blame the Kos for this, by the way. I'm opposed to anything that disadvantages me too. But who's the genius at The Australian who found this couple? It is the same person who finds a struggling family out in the Hills and puts them on the front page (always a front-lawn shot) when there's an interest rate cut?

Speaking of which, I expect that when interest rates start to rise again they'll have a picture of a semi-employed ex-banker on the front page, someone who's living on investment income and who welcomes a rate rise. That'd be me. They can find me at the Gazebo on a Thursday afternoon when the time comes.