Stopping the tax cuts for wealthy investment property owners, affordable housing for 1st home buyers
Wealthy investment property speculators are out-competeing first home buyers for housing. This comes down to a tax issue; the government provides huge tax incentives for the wealthy to invest in property. The rich are getting richer, the poor have no where to live. More information here: http://en.wikipedia.org/wiki/Australian_property_bubble
Quote:
Campaign 2, First Home Buyers - Property Buyers Strike
Tax reform group Prosper Australia today called on first home buyers to delay buying real estate ahead of the flip into a falling market, which it described as ‘imminent’.
Australia’s housing market is widely regarded as being in a price bubble and ‘most severely unaffordable’. Warnings have been issued by a long list of agencies and experts, including the IMF, the OECD, The Economist newspaper, Jeremy Grantham and Steve Keen.
A buyers’ strike is the only rational response to current land prices. Frankly, prices are ridiculous. How anyone can pretend Australia has a land shortage beggars belief!
Some argue prices have arrived at a new and permanently high plateau, but the historical record shows reversion to the long term average – in every case without exception.
The campaign to end neg gearing is nearly on the top page so get you're votes in. If we were to see neg gearing removed or first home buyers striking today, then the ensuing chaos would capitulate the housing market for once and for all. Forget interest rates and population growth, these two changes alone would wreak devastation on Australian house prices, no "if's" "but's" or "maybes" here, thats the reality. Take out the props or the bottom rung and the whole ponzi collapses !
The removal of NG will not sink the ship. Boomers will not need it in retirement and they have the votes, so that money will be redirected back to pensions and health costs, to suit them..... A no buy campaign will not work as people needs homes, however a no pay or delay your mortgage payment for one month across all mortgage holders, would probably have more instant effect. That way all people get to have action, not just the unhappy youth.....
Fantastic idea guys, lets promote it. This kind of grass roots campaign can make a real difference and could achieve a lot of votes. It takes a few seconds to vote.
Everybody get on board. There's two campaigns to vote for so vote early & vote often !
Suggesting that people be dishonest and fudge the figures eh? I always thought opinion polls and the like were worthless and heres proof
Ignore posts by The Whole Truth · View Post · End Ignoring The forum fuckwit goes RRRAAARRRGGHHhhh - But not a fuck was given..................by anyone.
This will touch a chord with most young Australians -- you need only read MSM article comments to realise most young people hate negative gearing and the property bubble it causes. But what politician will touch it? They care only for the next opinion poll and grovel to the majority boomer voters.
The removal of NG will do nothing to house prices over the medium term.
House prices will continue to reflect the cost of production (and relative cost of production). Whether investors get a tax break or not on interest will not alter how much ot costs to buy bricks and tiles.
What the removal of NG will do will is lift rents relative to house prices - since investors assess return on an after tax basis, net rents will need to rise more than normal before new supply is encouraged.
As usual the bears have it arse-about. NG is a subsidy to renters. Investors will be indifferent to its removal, but it is a boon for OO's, and the poor will get poorer.
The removal of NG will do nothing to house prices over the medium term.
House prices will continue to reflect the cost of production (and relative cost of production). Whether investors get a tax break or not on interest will not alter how much ot costs to buy bricks and tiles.
What the removal of NG will do will is lift rents relative to house prices - since investors assess return on an after tax basis, net rents will need to rise more than normal before new supply is encouraged.
As usual the bears have it arse-about. NG is a subsidy to renters. Investors will be indifferent to its removal, but it is a boon for OO's, and the poor will get poorer.
Bullshit
When negative gearing was briefly removed by Keating back in the 80's ONLY Sydney and Perth had rising rents. Rents throughout the rest of Australia stayed static or fell
:laughing: I though you said only sick fucks save posts for future reference? :laughing:
Ignore posts by The Whole Truth · View Post · End Ignoring The forum fuckwit goes RRRAAARRRGGHHhhh - But not a fuck was given..................by anyone.
Why do the bears always play the man and not the ball?
You really do seem angry earthsta
Ignore posts by The Whole Truth · View Post · End Ignoring The forum fuckwit goes RRRAAARRRGGHHhhh - But not a fuck was given..................by anyone.
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