I don't think it's too much to ask for the rants to at least be original, rather than re-posting articles already posted and discussed here several months previously.
Negative Gearing Myths as we know have been completely de-bunked and exposed for what it really is - An ill conceived and abhorrent form of class welfare, that has done NOTHING to create affordable rents or increased housing supply.
Negative Gearing persists however as a disease in Australia, and although easily cured like many illnesses in third world countries, remains untreated for fear that the pigs might get a little less in their troughs. In this case property developers and government being akin to Pharmaceutical companies who have vested interest in keeping disease alive.
Like many diseases, there is often a need for a vector, a transporter of the disease. In this case real estate agents, property spruikers and the like, assume the rather fitting role of vector, like rats in the black death.
While an increasing number of people thankfully have started developing resistance to the disease, and don't go on to destroy our nation and future in contributing to un-sustainable house prices. Please endeavor to vaccinate yourself with some reading below about the MYTHS of negative gearing and why we should demand its eradication.
Neg gearing one's losses on an income producing asset sounds to me like a perfectly reasonable thing to do Timo. (And I say that as a bloke who lodged his first tax return at the age of 19 as I recall who's lodged about 36 more of the bloody things since - So I ain't exactly talking from total inexperience.)
'Course yep, I'm NOT so sure I'd allow neg gearing of losses due to costs of using borrowed money - Based on those same 36 odd years experience.
But we live in a world that reckons borrowing money is great/can't (apparently?) get by without it - So what ta do hey?
PS: Tell me something REALLY sensible re same 'n you get my vote for the next Nobel Prize thingie in Economics that gets doled out ...
A Professional Demographer to an amateur demographer:"negative natural increase will never outweigh the positive net migration"
yes, those boomers - all born at the same time and all will retire at the same time.
boomers are like Y2K pauk, only spastics like you make a big deal about it and once it's passed everyone wonders what you were on.
Funnily enough, Y2K was actually a really big problem.
IT people saw it coming, prepared for it and fixed it in time, which is why lay people think it was all a bit of a hoax.
"If man is to survive, he will have learned to take a delight in the essential differences between men and between cultures. He will learn that differences in ideas and attitudes are a delight, part of life's exciting variety, not something to fear." - Gene Roddenberry
"Balloon animals are a great way to teach children that the things they love dearly, may spontaneously explode" -- Lee Camp
I like me olds - I'd rather keep them and let the house go whistle Ta - 'N anyway, they like me too - So reckon if ever things really go tit up I can move back in with them 'n we'll just get along fine - What with them throwing an extra spud in the pot each day for me - 'N me going out once a week ta pick up the groceries 'n doing the mowing once a month or whatever ...
A Professional Demographer to an amateur demographer:"negative natural increase will never outweigh the positive net migration"
Fixing a lot of things is trivial, especially if the problem hasn't occurred yet.
"If man is to survive, he will have learned to take a delight in the essential differences between men and between cultures. He will learn that differences in ideas and attitudes are a delight, part of life's exciting variety, not something to fear." - Gene Roddenberry
"Balloon animals are a great way to teach children that the things they love dearly, may spontaneously explode" -- Lee Camp
Zaph 1. NG has inflated prices. 2. Boomers understand that if their price drops that so does everyones. Zero effect for a common thinker.
Dropping property prices (or not increasing as much) for boomers in retirement doesn't have a zero effect. Retirees, apart from the very wealthy, will consume their capital in retirement.
If a boomer wants to downgrade their PPOR then dropping prices harms the amount they can bank (and consume) out of the switch.
If a boomer wants to sell off their IP(s) then dropping prices is very bad for them, they will have less to consume.
If a boomer wants to take a reverse mortgage on their PPOR, dropping prices effect the amount they can consume.
Boomers approaching, and entering retirement will certainly not want to do anything that may drop the value (or not increase as much) of their properties, and abolishing negative gearing will.
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.
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