There's bugger all chance of house prices correcting to sensible levels with this mob in charge.
What a waste of a vote.
You voted for them?
Idiot.
I did an informal vote for the lower house.
I see on MB some morons were talking about how we should reduce immigration. I guess they're expecting Tony to do it?
I give up. Most of you bears are as dumb as dog shit.
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.
New housing construction is clearly the objective.
Not only will it provide general stimulation but also employment that will absorb the post mining workforce.
Mr Abbott and Mr Hockey’s comments suggesting that low rates, rising prices and the wealth effect will be enough are delusional.
Relying on the RBA low rates, with or without MP is not the solution.
What is needed is a national new housing construction summit driven by the Federal Government that has specific objectives in terms of the amount of new housing construction and where.
In practical terms that means getting low cost land into the hands of FHBs who can then engage builders, trades, architects, landscape gardeners, interior designers, retailers etc.
Simply focusing national attention on the supply issues will be huge step forward.
If the states, as is likely, fret about the cost of infrastructure the Federal Govt can offer funds in the form of MUD style bonds that are repaid from rates on the property over 30 years.
States balance sheets remain free of debt and as the MUD bonds are commercial they stay off the Fed balance sheet.
The states then only have to push through the required zoning changes and laws regarding rates.
SMSF might be very interested in MUD bonds as a way of getting exposure to a secure infrastructure investment.
Reducing the CGT and other ‘milking the cow’ taxes on new housing development could also be on the agenda.
Ultimately, the Fed Govt has to get involved in driving housing construction and having a summit will drive the debate.
Come on Joe – You can do better than rubbing the worn out ‘wealth effect’ magic lamp. Not only does it depend on rising house prices, rising debt and decreasing financial system instability but it puts upward pressure on the $ AUS.
New housing at low cost will dampen the prices of existing houses eventually but the wealth effect mojo was burnt out by papa Howard through overuse.
But making our economy completely dependent on housing construction (and indirectly on continued extremely high population growth) is no more sustainable long term than being overly dependent on housing speculation.
Labor has questioned whether Tony Abbott could manage the Australian economy after he failed to declare a new $710,000 mortgage on his family home.
The Opposition Leader took out the mortgage after losing his ministerial salary when the Howard government was ousted, to help cover living costs including private school fees for two of his three daughters.
But he failed to declare it until about two weeks ago – almost two years after taking out the loan.
“On 19 Aug live on national TV, Joe Hockey said housing supply was an important issue and he had “some plans on that” that he would be “talking about before the election”.”
During that interview I asked the minister: “Can you confirm that there will be no increase in the First Home Buyers Grant?”
Plibersek responded: “No there won’t be. There won’t be an increase in the First Home Buyers Grant, because we’ve seen from experience what happens when you provide a grant like that – or increase it – is that it goes straight into the pocket of the seller.”
Spot on.
Then, a few weeks later the Government tripled the $7000 grant under the existing First Home Buyers Grant if first homebuyers signed a contract on a newly built home before June 30 this year. It also doubled the grant to $14,000 for established homes.”
Perhaps I am in the only one old enough here to realise (older Gen X) the only time they’re not lying is when their mouths are shut.
Don’t blame me, I didn’t vote for either the LNP or the ALP.
The coalition used the boom to enshrine an entitlement ethos within Howards’ Battlers.
Howard made people feel rich by providing an environment where their house value rose significantly each year.
Those who own their own home far out number those who don’t and until that number shifts there is no political imperative to address the issue.
As you saw in the last election the only parties to embrace the idea of delivery affordable housing (meaning decreasing the value of current owners) were the very fringe.
At present it is a numbers game being played by both major parties and the MSM.
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