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Good News: Treasury pushing remodel of Negative Gearing for only new homes!; Corrupt and vested real estate interest run for cover!
Topic Started: 14 Aug 2014, 09:26 PM (33,852 Views)
Timo
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Property vested zombies call to rhetoric and lies ridden arms!

Government pushing thru with remodel of Australia's biggest policy failure: negative gearing for new homes only


"REIA chief executive Amanda Lynch said the federal Treasury is again pushing for the removal of negative gearing and the rumour is that modelling will be done on retaining it for new housing only." - panic stations! Shock horror, Australia waking up to the rort of billions wasted on NG class welfare.

http://www.rpmonline.com.au/news/12726-abolishing-negative-gearing-a-serious-threat
Edited by Timo, 14 Aug 2014, 09:31 PM.
After a bubble has burst, no one denies that it existed. But before it does, the popular refrain is that though bubbles existed elsewhere in the world, “there’s no bubble here”. So housing bubbles are admitted to have existed in Japan, the USA, Spain and Ireland – because they’ve already burst.
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DragonGM
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It needs to go.
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Jimbo
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Timo
14 Aug 2014, 09:26 PM
"REIA chief executive Amanda Lynch said the federal Treasury is again pushing for the removal of negative gearing and the rumour is that modelling will be done on retaining it for new housing only." - panic stations! Shock horror, Australia waking up to the rort of billions wasted on NG class welfare.

I predict a massive drop in demand for laxatives and a huge shortage of toilet paper.
Matthew, 30 Jan 2016, 09:21 AM Your simplistic view is so flawed it is not worth debating. The current oversupply will be swallowed in 12 months. By the time dumb shits like you realise this prices will already be :?: rising.
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Timo
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Jimbo
14 Aug 2014, 09:39 PM
I predict a massive drop in demand for laxatives and a huge shortage of toilet paper.
Haha most people associated with real estate are shit talkers, they should have plenty of toilet paper and mints!
After a bubble has burst, no one denies that it existed. But before it does, the popular refrain is that though bubbles existed elsewhere in the world, “there’s no bubble here”. So housing bubbles are admitted to have existed in Japan, the USA, Spain and Ireland – because they’ve already burst.
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GloomBoomDoom
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OMG rents are going to triple! :lol

Lol they always bring out the line that NG keeps rents low when we all know landlords charge whatever rent they think they can get away with. It's kind of the like the chicken and the egg.
MSE
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herbie
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I personally think neg gearing is a VERY sensible and reasonable deduction.

That said, as I bear, if it goes, I'll not grieve - Though believe that as a philosophically anti-taxationist type I should.

And also believe (as an anti-guv interventionist type), that whatever they do will pretty much be a fuck-up regardless ... :)
A Professional Demographer to an amateur demographer: "negative natural increase will never outweigh the positive net migration"
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Jimbo
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GloomBoomDoom
14 Aug 2014, 09:51 PM
Lol they always bring out the line that NG keeps rents low when we all know landlords charge whatever rent they think they can get away with. It's kind of the like the chicken and the egg.
And they always forget to state that a lot of people rent because the houses they would have bought to live in, have been bid up by investors with the aid of NG.

Matthew, 30 Jan 2016, 09:21 AM Your simplistic view is so flawed it is not worth debating. The current oversupply will be swallowed in 12 months. By the time dumb shits like you realise this prices will already be :?: rising.
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peter fraser
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I can't see it making any difference.
Any expressed market opinion is my own and is not to be taken as financial advice
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Jimbo
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peter fraser
14 Aug 2014, 10:04 PM
I can't see it making any difference.
Apart from the fact that it is probably the biggest single driver of investment buying (amongst everyone I know anyway).
Matthew, 30 Jan 2016, 09:21 AM Your simplistic view is so flawed it is not worth debating. The current oversupply will be swallowed in 12 months. By the time dumb shits like you realise this prices will already be :?: rising.
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Elastic
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Many LOLs at the REIA chief worrying about the poor renters.
Grandfather it and it will make no difference to rents. Why would a current landlord put up the rent when there has been no change to their circumstances?
It will mean less demand from investors going forward and probably small price falls or less upward price pressure. It will reduce the number of investors entering the market but it is difficult to see why that will increase rents.
Do rents get reduced as we see more investors entering the market like we have in Sydney and Melbourne?
Only a rat can win a rat race.

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