Superb. Edifying. (First time listener, American)

I saw a report on house prices in Sydney on Swedish TV! The couple in question were desperate as the house price increased more per day than what they earned?? this was 5 years ago, My reflection how can you buy under these conditions on a loan that you know that at the first minimal interest rate increase you will be gone???.

@thebrownnote5701

16 күн бұрын

its heartbreaking and has reshaped the way of life here. Some of the stats are nuts. In general the increase alone in house prices per year has far outpaced the average wage. You can own a home and do nothing and still be earning far more than the average worker each year for doing nothing

You forgot about record number of overseas multimillionaires buying off everything, overbidding, parking their money and not even being fussed about renting it out.

@thebrownnote5701

16 күн бұрын

ovrerseas investors is definitely a big issue, weve had a lot of money pumped in in particular from China

Sydney was always a 'special needs' property market as it used to be considered Australia's only premiere city, the main international airport.

Actually negative gearing was Hawke Keating

@thebrownnote5701

16 күн бұрын

its actually been around since 1936 in australia in various forms, its just been weaponised under Howard - same as franking credits were introduced under i think keating but reshaped to be economically toxic under Howard

@cristosl

16 күн бұрын

@@thebrownnote5701 Howard was toxic yes, and there is a lot I blame him for but I remember that decade, the 80s, and the sky rocketing of real estate prices that was in large part driven by the negative gearing that Keating brought in and the increase in investors in the market.

There are a million empty houses in Australia according to the last census. We could house every person needing housing tomorrow if those homes were not left empty. Airbnb, negative gearing and short term accommodation (NDIS) are more lucrative than housing locals.

@thebrownnote5701

9 күн бұрын

property increases at such a rate in places like sydney, its financially worth it for people to leave them empty and sell them as new 5 years down the track. Its a disgrace, and dont get me started on Airbnb

Qualify only one investment property per family for negative gearing and capital gains tax offset. Grandfather only one investment property for existing portfolio's for the same benefits. Watch as a deflationary event in the housing market pull the house prices down and probably the banks. Stop the speculation on housing and return it to a human right, not a tool to create wealth.

@thebrownnote5701

16 күн бұрын

its such a no brainer, allowing one would hardly meet any resistance from the public, which shows you whos running this game

Why take away franking credits? Wtf. That has nothing to do with housing and makes stock market a good alternative to housing for investment

@thebrownnote5701

9 күн бұрын

beacuase they have all led to a huge increase in capital being pumped into the property market and are a complete con, that cost the tax pay $500 mill around 2002 and now about $10 billion a year

If you take away the tax breaks you would still have a housing crisis, because there is not enough new housing construction relative to demand. That involves primarily local and state government planning. If you want lower prices, you need to build new homes in an amount which exceeds demand, is really is that simply. At this stage even with all the talk of housing, there is still a shortfall on tens of thousands of homes each year, so guess what? Prices are going to go up, and negative hearing and CGT discounts are a very minor part of that.

@thebrownnote5701

16 күн бұрын

i agree you would still have it, you may allay it getting even worse but its so bad it may never be solveable