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Major push by Turnbull government to increase supply and help first home buyers
Topic Started: 24 Oct 2016, 07:12 AM (1,933 Views)
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Scott Morrison puts states on notice over house prices

Treasurer Scott Morrison has put the states on notice over booming house prices, flagging a major push by the Turnbull government to increase supply and help first home buyers own their own home.

And Mr Morrison will promise the next meeting of state and federal treasurers, to be held in December, will focus on how state governments can do away with planning rules that stop, or delay, new houses being built.

He will also leave the door open to incentives for state governments to reform their laws and release more land, in a broadening of one of the key recommendations of the Harper review of competition policy.

In a lunch-time address to the Urban Development Institute of Australia in Sydney on Monday, Mr Morrison will also dismiss suggestions that cheap credit is causing an investor-driven housing bubble in Australia as "simplistic".

The speech underscores the Coalition's focus on increasing supply rather than, as the government argues Labor's policy will do, reducing the number of buyers in the market by crimping demand through changes to the country's tax regime.

Read more: http://www.smh.com.au/federal-politics/political-news/scott-morrison-puts-states-on-notice-over-house-prices-20161023-gs8ngm.html
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kodiak
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Housing affordability doesn't even touch the sides with these tube steaks, to their eventual detriment. I'd like to see Morrison's eyeballs ripped out.
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Khaderbhai
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help first home buyers
New first home buyer grants to be announced?
Banks can't repossess your home simply because the market value falls. Australia's Consumer Credit Code says consumers aren't liable for things ordinarily outside their control and can't be held to obligations that could only be met by selling their home. Click for details.

"The truth is that there are no good men, or bad men. It is the deeds that have goodness or badness in them. There are good deeds, and bad deeds. Men are just men."
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Ex BP Golly
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An exercise in cognitive dissonance lol.

Ta Scott!


Khaderbhai
24 Oct 2016, 09:02 AM
New first home buyer grants to be announced?
He says "incentives to States".
Edited by Ex BP Golly, 24 Oct 2016, 09:33 AM.
WHAT WOULD EDDIE DO? MAAAATE!
Share a cot with Milton?
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Terry
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Listen up lil' 'uns. Time to get confused.

---------------------------------

-- In a lunch-time address to the Urban Development Institute of Australia in Sydney on Monday, Mr Morrison will also dismiss suggestions that cheap credit is causing an investor-driven housing bubble in Australia as "simplistic".

-- "Housing in Australia, especially in Sydney, Melbourne and Brisbane, is expensive and increasingly unaffordable, but that does not mean it is over valued"

-- "Therefore, increasing housing affordability – for renters and buyers alike – must be a key priority for all levels of government, including the Commonwealth."

"The government will therefore also be discussing with the states the potential to remove residential land use planning regulations that unnecessarily impede housing supply and are not in the broader public interest. This will be the strong focus of my discussions at the next Council on Federal Financial Relations that I will convene in early December,"

-- In this context, there are risks to an approach that deals with house prices in those buoyant markets because those measures could have "the reverse effect on markets in other areas".

http://www.watoday.com.au/federal-politics/political-news/scott-morrison-puts-states-on-notice-over-house-prices-20161023-gs8ngm.html
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Jon Snow
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Scott Morrison knows how to make houses affordable without making them any cheaper. Prepare for a nice big subsidy for the rich.
Speak when you are angry and you will make the best speech you will ever regret.
Ambrose Bierce
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Khaderbhai
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Jon Snow
24 Oct 2016, 08:24 PM
Scott Morrison knows how to make houses affordable without making them any cheaper. Prepare for a nice big subsidy for the rich.
A $15K FHB grant would do nicely.
Banks can't repossess your home simply because the market value falls. Australia's Consumer Credit Code says consumers aren't liable for things ordinarily outside their control and can't be held to obligations that could only be met by selling their home. Click for details.

"The truth is that there are no good men, or bad men. It is the deeds that have goodness or badness in them. There are good deeds, and bad deeds. Men are just men."
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Jon Snow
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Khaderbhai
24 Oct 2016, 08:36 PM
A $15K FHB grant would do nicely.
Yes that would subsidise the rich nicely and increase prices by $75K within 3 months of it's introduction. If we can get Sydney back to 20% per annum growth rates that would solve the housing affordability problem.

Maybe we can even match Hong Kong's gross rental return of 1.6% if we apply the genius of ScoMo to the Australian property market.

I guess it is time to have socialism for the rich. They had such a hard time in the 20th century.
Speak when you are angry and you will make the best speech you will ever regret.
Ambrose Bierce
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zaph
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Khaderbhai
24 Oct 2016, 08:36 PM
A $15K FHB grant would do nicely.
It's a bonus, not a grant.

Perhaps a benefit than the dole.
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Veritas
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Khaderbhai
24 Oct 2016, 09:02 AM
New first home buyer grants to be announced?
If that happens it will all just be part of the cycle eh Shadow?
Property acquisition as a topic was almost a national obsession. You couldn't even call it speculation as the buyers all presumed the price of property could only go up. That’s why we use the word obsession. Ordinary people were buying properties for their young children who had not even left school assuming they would not be able to afford property of their own when they left college- Klaus Regling on Ireland. Sound familiar?

The evidence of nearly 40 cycles in house prices for 17 OECD economies since 1970 shows that real house prices typically give up about 70 per cent of their rise in the subsequent fall, and that these falls occur slowly.
Morgan Kelly:On the Likely Extent of Falls in Irish House Prices, 2007
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