The value of Peter Dutton’s eight investment properties has fallen sharply by 4.8% in 2018.
“My profits from negative gearing have plummeted from 562% to 557%” Dutton told reporters.
“We said we were trying to reduce prices for first-home buyers but we didn’t actually want this to eventuate.”
Many first-home buyers now have more of an opportunity to enter the property market at the unintended cost of baby-boomers’ profit margins.
“We didn’t think our virtue-signalling to help first-home buyers would actually have an impact.”
Peter Dutton may not be able to afford his 11th investment property in 2019.
“Don’t get me wrong though, I will buy my 9th and 10th.”