Welcome Guest [Log In] [Register]


Reply
  • Pages:
  • 1
  • 2
  • 8
Chart of Australia v Japan v USA house price falls from peak; Where is it?
Topic Started: 21 May 2012, 01:28 PM (6,853 Views)
miw
Member Avatar


peter fraser
21 May 2012, 05:19 PM
May I ask where you got the 10% property tax from. If it is a replacement for stamp duty then it is replacing a tax that is far lower than 10% and it is only paid on the properties that changed hands. So a broader tax against all property of 10% would raise far in excess of what is raised now. I would have thought that any land tax would be quite small per household. Large investors already pay land tax in most states, so the effect would be felt by home owners and small investors.
It's a strawman. 10% property tax would be armageddon. Right now land tax maxes out at under 2%.
The truth will set you free. But first, it will piss you off.
--Gloria Steinem
AREPS™
Profile "REPLY WITH QUOTE" Go to top
 
Strindberg
Member Avatar


peter fraser
21 May 2012, 05:19 PM
May I ask where you got the 10% property tax from.
He got it from audas. Post #5.
Housing costs to Income broadly unchanged since 1994 - re-ratified here
The People of Australia have the highest median wealth in the World
2002-2012 10 year house price growth the SLOWEST since 1952-1962
"There are two kinds of people in this world: ones that fiddle around wondering whether a thing's right or wrong and guys like us." (Hugo to Gagin in Ride the Pink Horse)
Profile "REPLY WITH QUOTE" Go to top
 
zaph
Default APF Avatar


stinkbug
21 May 2012, 05:14 PM
If a 10% property tax was brought in I'd immediately hit my tenants up for rental increases. It probably wouldn't cover the whole amount, but I'd push as hard as I could for as long as I could until it did.
If you're tenants would pay more, why aren't you already charging more?
Profile "REPLY WITH QUOTE" Go to top
 
Trojan
Default APF Avatar


zaph
21 May 2012, 07:21 PM
If you're tenants would pay more, why aren't you already charging more?
Because there are plenty of alternative the tenant can rent without having to pay the extra 10%.
But IF that 10% tax came it, every landlord will have to find the extra 10% tax - and I suspect the tenants will get some subsidy similar to the carbon tax subsidy.

I started a thread before asking if people here who are renting, if they could afford to pay more rent and the general feedback was they can but they won't because they can find cheaper alternatives. If all landlords raised their rents to cover the tax, then there will be no cheaper alternative. Of course some may choose not to raise their rent (like some landlords charge below market rent now) but they will be the exception rather than the norm.

The same thing happened when the GST came in. Many places I frequented raised their prices (legally or not). Its not like they weren't trying to make money before the GST came in.
Edited by Trojan, 21 May 2012, 07:46 PM.
I put trolls and time wasters on my ignore list so if I don't respond to you, you are probably on it ....
Profile "REPLY WITH QUOTE" Go to top
 
peter fraser
Member Avatar


Strindberg
21 May 2012, 05:32 PM
peter fraser
21 May 2012, 05:19 PM
May I ask where you got the 10% property tax from.
He got it from audas. Post #5.
HMMM - Clearly he doesn't have a masters in land tax, perhaps his PHD in standup comedy got the better of him.

That really is a strawman and simply an impossible suggestion. If it was introduced the cost would be a small fraction of one percent at most, and as annoying as it would be, it would be quite bearable for most people. If someone wants to do the exercise, just divide the annual stamp duty income by the number of homes in the state to get an approximation of the average cost per dwelling. Many companies and large landholder currently pay land tax, but ordinary home owners don't.



Any expressed market opinion is my own and is not to be taken as financial advice
Profile "REPLY WITH QUOTE" Go to top
 
themoops
Member Avatar
Ruby Member
Strindberg
21 May 2012, 04:57 PM
Nope. Steve Keen called the 40% crash AFTER the FHOG boost had been announced.
Bullshit. He did it before then Rudd came up with First Home Vendors Boost. Keen did the bears a massive disservice ironically.
stinkbug omosessuale


Frank Castle is a liar and a criminal. He will often deliberately take people out of context and use straw man arguments.
Frank finally and unintentionally gives it up and admits he got where he is, primarily via dumb luck!
See here
Property will be 50-70% off by 2016.
Profile "REPLY WITH QUOTE" Go to top
 
audas
Member Avatar


stinkbug
21 May 2012, 05:14 PM
If a 10% property tax was brought in I'd immediately hit my tenants up for rental increases. It probably wouldn't cover the whole amount, but I'd push as hard as I could for as long as I could until it did.
Its illegal.

Sorry - you could of course try and kick your tenants out and get new ones, but not likely is it, since there is a massive oversupply of housing and the mining boom is up shit creek.
Profile "REPLY WITH QUOTE" Go to top
 
audas
Member Avatar


peter fraser
21 May 2012, 08:02 PM
HMMM - Clearly he doesn't have a masters in land tax, perhaps his PHD in standup comedy got the better of him.

That really is a strawman and simply an impossible suggestion. If it was introduced the cost would be a small fraction of one percent at most, and as annoying as it would be, it would be quite bearable for most people. If someone wants to do the exercise, just divide the annual stamp duty income by the number of homes in the state to get an approximation of the average cost per dwelling. Many companies and large landholder currently pay land tax, but ordinary home owners don't.


Try and work out hwat is being said before you humiliate yourself Peter - I know its hard, but try and stay on topic.
Profile "REPLY WITH QUOTE" Go to top
 
audas
Member Avatar


Strindberg
21 May 2012, 04:57 PM
Nope. Steve Keen called the 40% crash AFTER the FHOG boost had been announced.
Absolute HORSE SHIT.
Profile "REPLY WITH QUOTE" Go to top
 
peter fraser
Member Avatar


Alex Barton
21 May 2012, 01:30 PM
Change the time frame by decades to try to make the graph look authorative, and then predict a price trajectory whilst clearly proving that Japan and the USA had very different trajectories is at best frail proof of anything.

Any expressed market opinion is my own and is not to be taken as financial advice
Profile "REPLY WITH QUOTE" Go to top
 
1 user reading this topic (1 Guest and 0 Anonymous)
Go to Next Page
« Previous Topic · Australian Property Forum · Next Topic »
Reply
  • Pages:
  • 1
  • 2
  • 8



Australian Property Forum is an economics and finance forum dedicated to discussion of Australian and global real estate markets and macroeconomics, including house prices, housing affordability, and the likelihood of a property crash. Is there an Australian housing bubble? Will house prices crash, boom or stagnate? Is the Australian property market a pyramid scheme or Ponzi scheme? Can house prices really rise forever? These are the questions we address on Australian Property Forum, the premier real estate site for property bears, bulls, investors, and speculators. Members may also discuss matters related to finance, modern monetary theory (MMT), debt deflation, cryptocurrencies like Bitcoin Ethereum and Ripple, property investing, landlords, tenants, debt consolidation, reverse home equity loans, the housing shortage, negative gearing, capital gains tax, land tax and macro prudential regulation.

Forum Rules: The main forum may be used to discuss property, politics, economics and finance, precious metals, crypto currency, debt management, generational divides, climate change, sustainability, alternative energy, environmental topics, human rights or social justice issues, and other topics on a case by case basis. Topics unsuitable for the main forum may be discussed in the lounge. You agree you won't use this forum to post material that is illegal, private, defamatory, pornographic, excessively abusive or profane, threatening, or invasive of another forum member's privacy. Don't post NSFW content. Racist or ethnic slurs and homophobic comments aren't tolerated. Accusing forum members of serious crimes is not permitted. Accusations, attacks, abuse or threats, litigious or otherwise, directed against the forum or forum administrators aren't tolerated and will result in immediate suspension of your account for a number of days depending on the severity of the attack. No spamming or advertising in the main forum. Spamming includes repeating the same message over and over again within a short period of time. Don't post ALL CAPS thread titles. The Advertising and Promotion Subforum may be used to promote your Australian property related business or service. Active members of the forum who contribute regularly to main forum discussions may also include a link to their product or service in their signature block. Members are limited to one actively posting account each. A secondary account may be used solely for the purpose of maintaining a blog as long as that account no longer posts in threads. Any member who believes another member has violated these rules may report the offending post using the report button.

Australian Property Forum complies with ASIC Regulatory Guide 162 regarding Internet Discussion Sites. Australian Property Forum is not a provider of financial advice. Australian Property Forum does not in any way endorse the views and opinions of its members, nor does it vouch for for the accuracy or authenticity of their posts. It is not permitted for any Australian Property Forum member to post in the role of a licensed financial advisor or to post as the representative of a financial advisor. It is not permitted for Australian Property Forum members to ask for or offer specific buy, sell or hold recommendations on particular stocks, as a response to a request of this nature may be considered the provision of financial advice.

Views expressed on this forum are not representative of the forum owners. The forum owners are not liable or responsible for comments posted. Information posted does not constitute financial or legal advice. The forum owners accept no liability for information posted, nor for consequences of actions taken on the basis of that information. By visiting or using this forum, members and guests agree to be bound by the Zetaboards Terms of Use.

This site may contain copyright material (i.e. attributed snippets from online news reports), the use of which has not always been specifically authorized by the copyright owner. Such content is posted to advance understanding of environmental, political, human rights, economic, democratic, scientific, and social justice issues. This constitutes 'fair use' of such copyright material as provided for in section 107 of US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed for research and educational purposes only. If you wish to use this material for purposes that go beyond 'fair use', you must obtain permission from the copyright owner. Such material is credited to the true owner or licensee. We will remove from the forum any such material upon the request of the owners of the copyright of said material, as we claim no credit for such material.

For more information go to Limitations on Exclusive Rights: Fair Use

Privacy Policy: Australian Property Forum uses third party advertising companies to serve ads when you visit our site. These third party advertising companies may collect and use information about your visits to Australian Property Forum as well as other web sites in order to provide advertisements about goods and services of interest to you. If you would like more information about this practice and to know your choices about not having this information used by these companies, click here: Google Advertising Privacy FAQ

Australian Property Forum is hosted by Zetaboards. Please refer also to the Zetaboards Privacy Policy