"If, as is widely expected, Hockey is replaced by Social Services Minister Scott Morrison, there will be a huge shift in the dialogue around affordability. In July, Morrison said a lack of housing stock and affordability were at the centre of most social problems in Australia. “For those seeking to buy their own home, the price has more than doubled the increase in wages over the past 25 years,” he said. “More than 30 per cent of family income is now required to meet median loan repayments, breaching a commonly accepted housing affordability threshold.” Turnbull also acknowledged the problem, pointing to reform needed on the supply side. " http://www.domain.com.au/news/malcolm-turnbull-marks-one-step-closer-to-housing-affordability-20150915-gjmpne/
"If, as is widely expected, Hockey is replaced by Social Services Minister Scott Morrison, there will be a huge shift in the dialogue around affordability. In July, Morrison said a lack of housing stock and affordability were at the centre of most social problems in Australia. “For those seeking to buy their own home, the price has more than doubled the increase in wages over the past 25 years,” he said. “More than 30 per cent of family income is now required to meet median loan repayments, breaching a commonly accepted housing affordability threshold.” Turnbull also acknowledged the problem, pointing to reform needed on the supply side. " http://www.domain.com.au/news/malcolm-turnbull-marks-one-step-closer-to-housing-affordability-20150915-gjmpne/
Well you can't build more homes within 20kms of most CBDs because their is no land, but hey they can build up right? If your happy to live in a dog box that's you're problem. I'll stick with 30kms out on 1000sqm
"If, as is widely expected, Hockey is replaced by Social Services Minister Scott Morrison, there will be a huge shift in the dialogue around affordability. In July, Morrison said a lack of housing stock and affordability were at the centre of most social problems in Australia. “For those seeking to buy their own home, the price has more than doubled the increase in wages over the past 25 years,” he said. “More than 30 per cent of family income is now required to meet median loan repayments, breaching a commonly accepted housing affordability threshold.” Turnbull also acknowledged the problem, pointing to reform needed on the supply side. " http://www.domain.com.au/news/malcolm-turnbull-marks-one-step-closer-to-housing-affordability-20150915-gjmpne/
If you believe Morrison or Turnbull will do anything to impact the sole economic driver in this country you are deluded. I say that in the nicest possible way because I know you are it that silly.
They are both running the ship and are therefore heavily indebted to the people who pay the bills and keep the ship fuelled. Anyone that Abott made promises to will still want their pound of flesh. Can you imagine burning the big 4, HIA, REIA, 1.4mil + investors and the 100,000's of people employed directly or indirectly by property related trades just to help a minority that are disadvantaged?? Given housing is the only economic driver would they do anything to interfere that would see the economy collapse?
There will be a lot of words of sympathy and the ideal of a fair go but they will do nothing to hinder price rises. If prices fall the greatest political trick would be to try and swoop in and be the saviour that dragged the country up from the ruins, the alternative is to do something and be the political joke that destroyed the economy.
If you believe Morrison or Turnbull will do anything to impact the sole economic driver in this country you are deluded. I say that in the nicest possible way because I know you are it that silly.
They are both running the ship and are therefore heavily indebted to the people who pay the bills and keep the ship fuelled. Anyone that Abott made promises to will still want their pound of flesh. Can you imagine burning the big 4, HIA, REIA, 1.4mil + investors and the 100,000's of people employed directly or indirectly by property related trades just to help a minority that are disadvantaged?? Given housing is the only economic driver would they do anything to interfere that would see the economy collapse?
There will be a lot of words of sympathy and the ideal of a fair go but they will do nothing to hinder price rises. If prices fall the greatest political trick would be to try and swoop in and be the saviour that dragged the country up from the ruins, the alternative is to do something and be the political joke that destroyed the economy.
They will do nothing!!!
I pretty much just basically concur with you on that Chris.
Though would go a tad stronger on the thought they'll be proactive in propping things up as opposed to doing nothing/letting them 'correct' maybe? Well not in their financial 'heartlands' of Sydney and Melbourne at least.
And yes, I'm acquainted with the suggestion this could lead to some misallocation of capital.
But guess they just see that as another problem for another day should it eventually be proved to have happened?
Bottom line: If they are getting growth and unemployment's not skyrocketing with inflation being contained and deflation definitely not happening, anything else is at worst just a necessary evil. If not actually out and out 'good'.
If you believe Morrison or Turnbull will do anything to impact the sole economic driver in this country you are deluded.
Yep he is deluded and yep Turnbull has one hell of a large property portfolio, so he's not going to trash his own finances, although I do expect them to do something to help. We will have to wait and see.
Any expressed market opinion is my own and is not to be taken as financial advice
I'm hoping that they will stimulate, starting with Adelaide's submarine project to replace some of those auto jobs. I would expect Turnbull to have a much better understanding of how to achieve that than Tony.
Joe will be sacrificed, but to be fair if he had a PM who told him to stimulate we would be in a different position now. I don't think we will see a bigger FHOG although a little tampering might occur.
I'm hoping that they will stimulate, starting with Adelaide's submarine project to replace some of those auto jobs. I would expect Turnbull to have a much better understanding of how to achieve that than Tony.
Joe will be sacrificed, but to be fair if he had a PM who told him to stimulate we would be in a different position now. I don't think we will see a bigger FHOG although a little tampering might occur.
I suspect you'll be disappointed, about the submarines at least.
Remember, Turnbull has come to power within the Libs by claiming to be a better salesman for the Libs' *current* policies. He's had to shackle his own instincts on carbon-pricing and marriage equality in order to get the gig.
So he's hardly going to be able to turn around and become the Aussie version of Paul Krugman.
There will be more latitude if he wins the next election, but any practical effect of that is at least 2 years away.
I'm hoping that they will stimulate, starting with Adelaide's submarine project to replace some of those auto jobs. I would expect Turnbull to have a much better understanding of how to achieve that than Tony.
Joe will be sacrificed, but to be fair if he had a PM who told him to stimulate we would be in a different position now. I don't think we will see a bigger FHOG although a little tampering might occur.
I was more asking about housing than the broad economy.
'High' house prices are a problem(?) - MT and SM have said a supply response is needed. The fed govt is in a very limited position to stimulate supply. The states are in a much better position to stimulate supply - but 'can' they; and why would they?
For the states to stimulate supply they would need to cut taxes (as well as councils) on housing? So shy would they do that if it erodes their revenue base?
although I do expect them to do something to help. We will have to wait and see.
Help what Peter? His own personal finances by the sound of it, and that by any measure is a conflict of interest and corruption. Having the ability either directly or indirectly , to manipulate a beneficial outcome for your own personal wealth with power instilled to you by the public.
They should all be forced to sell all IP's whether NG'd not
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