There are solutions to the problems but they can't let the cat out of the bag. If they tweek the tax concessions ( negative gearing & cap. gains), lower migration intake and build more houses the prices may drop. A drop in houses prices will put the banks in a negative position. They have over 60% of their debts written up as home mortgages. The government will not allow this to happen so the whole ponzi will keep going until it explodes and the tax payer bails out the the too big to fail banks.
If construction companies are falling over then they should have enough people to work on these projects all the tradies from the failed construction companies can work with companies that are well and truly afloat, we do not need more immigration on our shores just to fill spots that can definitely go to our own people.
WAIT - would land tax apply to properties built and bought after a certain date or would it be allocated on all property? That would affect everyone who has paid stamp duty in the past!
It is difficult to make exact projections for the housing market as it is still unclear how quickly or to what degree the Federal Reserve will reduce inflation and borrowing costs without having a substantial negative impact on demand from consumers for anything from houses to cars.
Cancel negative gearing and capital gains discounts on a business! How is that fair on property investors as opposed to any other business owner? But sure .... go ahead and watch 90% of landlords with one property sell that property. Even if that drops housing prices by 20% (which it won't), the average price of a Melbourne home would drop from $920k to $736k. That means renters / 1st home buyers would required a $73k deposit plus buying fees and be able to afford a $663k mortgage with a monthly repayment of $4165. This is not happening, especially when most renters are complaining about rents being increased to $800 per week ($3466 pm). What's going to happen is that those properties being sold by Australian "Mum and Dad" investors will be bought by Overseas investors who may or may not rent them out. It doesn't solve anything. We need to encourage MORE landlords and more investment properties and treat it like an investment, which means they are allowed to claim all expenses and get a capital gains tax discount on the profit when they sell - like all small businesses do.
ALSO .... it will mean that Government will need to step in and support ppl that are retired and need to sell their home to go into nursing homes. If their asset/house drops 20% in value, they may not be able to afford a nursing home bed and the Gov will need to support that via welfare. It will also affect anyone wanting to downsize or sell their house as their asset isn't worth what they bought it for and have a mortgage against.
We all know the problem…demand. Far too many people all trying to buy or rent the same place….but everyone is too afraid to say it. I can guarantee you we’ll still be talking about a housing crisis in 5 years.
Greed is destructive, side effect of the capitalism. Politicians are in charge of taming greed but they keep failing last decades very consistently. Conflict of interest I guess...
Unions are a big problem.Immigration is a huge problem.Go back to apprenticeships starting at 15.The amount of tax on every house built is insane.All the stamp duty,council fees, gst. The list goes on.
Tradie shortage can be solved by bringing in qualified and skilled immigrants but ppl are complaining about that as it adds to the number of people needing to rent.
@@joeybrown3583 Tell that to those that are building new homes where build times have blown out from 8 months to 2 years in some cases. I built 2 years ago and there were massive tradie shortages then.
Not quite. Plenty of money to launder even if not as much from China. Seen any recent sales in Eastern Suburbs of Sydney? Money laundering capital of the world.😊
Im sure they will import another 500k uber/did drivers to help solve this problem.
And more Taxi drivers that can't speak English.
BECAUSE OZZIES DONT WORK AND PREFER TO DO DRUGS, SCREW AROUND, BEING LAZY ON DOLE
No mention of negative gearing or capital gains?
CUT THE DEMAND!!!
It really is that simple
Reduce demand to better match demand to the economy's ability to supply homes and supporting infrastructure.
There are solutions to the problems but they can't let the cat out of the bag.
If they tweek the tax concessions ( negative gearing & cap. gains), lower migration intake and build more houses the prices may drop.
A drop in houses prices will put the banks in a negative position. They have over 60% of their debts written up as home mortgages.
The government will not allow this to happen so the whole ponzi will keep going until it explodes and the tax payer bails out the the too big to fail banks.
Net zero immigration. 👍
If construction companies are falling over then they should have enough people to work on these projects all the tradies from the failed construction companies can work with companies that are well and truly afloat, we do not need more immigration on our shores just to fill spots that can definitely go to our own people.
WAIT - would land tax apply to properties built and bought after a certain date or would it be allocated on all property? That would affect everyone who has paid stamp duty in the past!
It is difficult to make exact projections for the housing market as it is still unclear how quickly or to what degree the Federal Reserve will reduce inflation and borrowing costs without having a substantial negative impact on demand from consumers for anything from houses to cars.
Can negative gearing and can capital gains discounts. Watch prices become reasonable.
Cancel negative gearing and capital gains discounts on a business! How is that fair on property investors as opposed to any other business owner? But sure .... go ahead and watch 90% of landlords with one property sell that property. Even if that drops housing prices by 20% (which it won't), the average price of a Melbourne home would drop from $920k to $736k. That means renters / 1st home buyers would required a $73k deposit plus buying fees and be able to afford a $663k mortgage with a monthly repayment of $4165. This is not happening, especially when most renters are complaining about rents being increased to $800 per week ($3466 pm). What's going to happen is that those properties being sold by Australian "Mum and Dad" investors will be bought by Overseas investors who may or may not rent them out. It doesn't solve anything. We need to encourage MORE landlords and more investment properties and treat it like an investment, which means they are allowed to claim all expenses and get a capital gains tax discount on the profit when they sell - like all small businesses do.
ALSO .... it will mean that Government will need to step in and support ppl that are retired and need to sell their home to go into nursing homes. If their asset/house drops 20% in value, they may not be able to afford a nursing home bed and the Gov will need to support that via welfare. It will also affect anyone wanting to downsize or sell their house as their asset isn't worth what they bought it for and have a mortgage against.
@@traceyholt8223 House prices have exceeded 20% SINCE COVID.
Fed and State overhaul of local council planning restrictions is the answer, especially in Vic.
The project still unable to tell the truth!
It’s no wonder you’re going broke!
The sooner the better!
all talk no action
We broke the apprenticeship system, so we have a chronic lack of tradies. And those we have left are about to retire.
I gave up in this government. There will be no solutions. Isnt that obvious already
We all know the problem…demand. Far too many people all trying to buy or rent the same place….but everyone is too afraid to say it.
I can guarantee you we’ll still be talking about a housing crisis in 5 years.
When will matt Barrie turn out to be interview
Imagine listening to the people who actually build the homes.
No more loan for investment and negative gearing and reduce immigrant
Greed is destructive, side effect of the capitalism. Politicians are in charge of taming greed but they keep failing last decades very consistently. Conflict of interest I guess...
Unions are a big problem.Immigration is a huge problem.Go back to apprenticeships starting at 15.The amount of tax on every house built is insane.All the stamp duty,council fees, gst. The list goes on.
Tradie shortage can be solved by bringing in qualified and skilled immigrants but ppl are complaining about that as it adds to the number of people needing to rent.
There is no tradie shortage.
@@joeybrown3583 Tell that to those that are building new homes where build times have blown out from 8 months to 2 years in some cases. I built 2 years ago and there were massive tradie shortages then.
@@traceyholt8223 less building companies because left poltics bankrupt 2145 in 2 yrs
@@traceyholt8223 carbon tax on truck & ute 10% helping building industry not
@@traceyholt8223 The problem is mass immigration. Obviously.
AUSTRALIANS HATED CHINESE. SO CHINESE BUILDERS WHO BUILT SURPLUS APARTMENTS LEFT. CHINESE INVESTORS STUDENTS LEFT. YOU SOW WHAT YOU REAP
NO CHINESE MONEY
NO MONEY BUT LOVE!
Not quite. Plenty of money to launder even if not as much from China. Seen any recent sales in Eastern Suburbs of Sydney? Money laundering capital of the world.😊
@@chorcor888 AUSTRALIANS ARE SAD
not enough companies you mean labor & green bankrupt
I think letting 2 million immigrants in the country may not have helped 🤔🤔🫣🫣😟😉😉😉
Wow I’m so surprised this post wasn’t deleted?
They keep deleting my post when I pointed out the obvious elephants in the room. 😊