Politics Super Thread - keep it all in here

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Earl said:
We've done this though. It's not like the government has said go out and borrow as much as possible to outbid everyone else.

My parents bought there house which they still live in for 20k.

What can the government really do about that ?

I don't think people should expect to be given a 4 bedroom family home. I live in an area with a lot of apartments. I think that is a way to increase housing supply which could in turn decrease house prices or at least stop the crazy boom that we've been through year after year.
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I refer you once more to changes to negative gearing and capital gains taxation.
 
Magpie_Magic said:
The real issue is due to QE, excessively low interest rates and tax biases, all the value is not so much in the building but in the unimproved value of the land.

That means houses are tax payer subsidized and savers are punished by receiving no interest on their savings and nearly the whole tax code is geared to protecting house prices for owners and banks.

Tradies are indirectly subsidized with home building grants and excessive immigration without adequate infrastructure including water transfers to support a growing population.

It ends up devaluing nearly everything else by extension work,business endeavors your garden and even personal relationships.
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Generally agreed and made much worse with even more extreme bias during covid, both restriction and incentive wise.

And I am a builder.
 
Swordy said:
Just a question on housing and affordability....and I'm not entering the political debate at all.

When I bought my first house 35 years ago, and my parents, and grandparents before them bought their houses, they started at the bottom, paid off a bit, built equity, spent time doing it and never really had issues with interest rates and affordability as such.

It seems these days with interest rates so low, every Tom, Dick & Harry has gone in for the million dollar houses and huge mortgages, and then cry poor about the cost of living, jobs and housing affordability when prices go up. I'll bet these same people whinging have the latest Iphone, new cars with loans, flat screen TVS, credit cards, Foxtel, etc etc.

At what stage do we stop whinging about the cost of living and how the government have not supplied enough housing etc and wanting handouts, because of a decision those people have made to go in deep straight up?

Sure generalising, but its a pretty good one. Just interested on who is responsible for this and why?
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You probably got your 1st home for 80k then when ypur wage was probably 20k.

4 times average salary.

You probably multiplylied on that with unearned equity and perennially falling rates since then.

But houses are for living in and somebody may have to pay you 2 million for the privilege of a roof over their head.

It's not like they are magically affordable in another suburb.

It's all because the real value of currency has collapsed because the collective west has printed 25 trillion ovet the last 15 years.
 
formerguest said:
I refer you once more to changes to negative gearing and capital gains taxation.
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How do these make it worse though.

Negative gearing helps if you leverage yourself into investment properties. So I assume that this increases the cost of houses because people invest directly into the housing market. I assume it would also create demand for new houses.

Capital gains tax is exempt on the family home (i.e. one you live in for life) but I think that is fair enough. On the flip side this stops people selling their houses so I suppose it creates a sticky market.

Maybe I'm asking too many questions here though. I'm trying to understand the crazy house prices we have on a political thread on a footy forum. Not judging anyone other than myself.

I should add house prices in real terms are the issue. Not asset inflation.
 
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We don’t have much choice in our electorate the incumbent Nat (who is quite a good local member), one of the owners of a corrupt Real Estate agency, an independent who just blew into town claiming she can charge the world overnight, or a Labor candidate who the party hasn’t named yet.
Knowing how much importance Labor cares about our seat they will probably announce on the 20/5/22.
 
Magpie_Magic said:
You probably got your 1st home for 80k then when ypur wage was probably 20k.

4 times average salary.

You probably multiplylied on that with unearned equity and perennially falling rates since then.

But houses are for living in and somebody may have to pay you 2 million for the privilege of a roof over their head.

It's not like they are magically affordable in another suburb.

It's all because the real value of currency has collapsed because the collective west has printed 25 trillion ovet the last 15 years.
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No, not really. My first house, interest rate was 9% and they went up to 19%. But I was sensible and allowed for that in my budgeting and thinking. And I lived in a far less desirable suburb because that's what common sense told me.

I could have lived in a leafy suburb and mortgaged myself to the hilt with all the mod cons and impressive entertainment toys for my mates to get excited about, but no I didnt.

My two daughters are now approaching it the same way I did and I know they will be fine in the long run and will have more than $50 to feed a family of four because they have made common sense decisions too.

But I feel like because I sacrificed early, worked hard, as did my wife, and got what I have now not through luck or inheritance - but others want me to be 'means tested' and take a rental property off me (which I bought to improve my lifestyle). It makes no sense. I've done the right thing, never been a tax payer burden, never even taken a single dole cheque, but I need to give that up.

And let me tell you, my upbringing was far from extravagent I can tell you. So why should I be penalised just to give some other lazy **** a roof over their head?
 
Telltails said:
I'm in iso after getting it at Blues Fest as well as 4 other friends. Not surprised Albo has got it after mingling in the crowd up there.
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How you feeling brother?

Hope you’re okay

Some it hits harder I heard.

It’s hit some of my colleagues at work. I swear our office is dead empty
 
Swordy said:
No, not really. My first house, interest rate was 9% and they went up to 19%. But I was sensible and allowed for that in my budgeting and thinking. And I lived in a far less desirable suburb because that's what common sense told me.

I could have lived in a leafy suburb and mortgaged myself to the hilt with all the mod cons and impressive entertainment toys for my mates to get excited about, but no I didnt.

My two daughters are now approaching it the same way I did and I know they will be fine in the long run and will have more than $50 to feed a family of four because they have made common sense decisions too.

But I feel like because I sacrificed early, worked hard, as did my wife, and got what I have now not through luck or inheritance - but others want me to be 'means tested' and take a rental property off me (which I bought to improve my lifestyle). It makes no sense. I've done the right thing, never been a tax payer burden, never even taken a single dole cheque, but I need to give that up.

And let me tell you, my upbringing was far from extravagent I can tell you. So why should I be penalised just to give some other lazy **** a roof over their head?
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This is the same as my wife and myself, to a tee.
 
Swordy said:
No, not really. My first house, interest rate was 9% and they went up to 19%. But I was sensible and allowed for that in my budgeting and thinking. And I lived in a far less desirable suburb because that's what common sense told me.

I could have lived in a leafy suburb and mortgaged myself to the hilt with all the mod cons and impressive entertainment toys for my mates to get excited about, but no I didnt.

My two daughters are now approaching it the same way I did and I know they will be fine in the long run and will have more than $50 to feed a family of four because they have made common sense decisions too.

But I feel like because I sacrificed early, worked hard, as did my wife, and got what I have now not through luck or inheritance - but others want me to be 'means tested' and take a rental property off me (which I bought to improve my lifestyle). It makes no sense. I've done the right thing, never been a tax payer burden, never even taken a single dole cheque, but I need to give that up.

And let me tell you, my upbringing was far from extravagent I can tell you. So why should I be penalised just to give some other lazy **** a roof over their head?
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Yeah me and my partner just trying to find a place to buy here in Canberra, can’t afford much. I’m having to work 3 jobs atm
 
I remember paying 18 per cent interest rates on my first home unit, an investment property.

At the time I was living in a condemned nissen hut at RAAF Forest Hills at the time. The base was short of accommodation and medical was free (that's what we were always told!).
 
Swordy said:
No, not really. My first house, interest rate was 9% and they went up to 19%. But I was sensible and allowed for that in my budgeting and thinking. And I lived in a far less desirable suburb because that's what common sense told me.

I could have lived in a leafy suburb and mortgaged myself to the hilt with all the mod cons and impressive entertainment toys for my mates to get excited about, but no I didnt.

My two daughters are now approaching it the same way I did and I know they will be fine in the long run and will have more than $50 to feed a family of four because they have made common sense decisions too.

But I feel like because I sacrificed early, worked hard, as did my wife, and got what I have now not through luck or inheritance - but others want me to be 'means tested' and take a rental property off me (which I bought to improve my lifestyle). It makes no sense. I've done the right thing, never been a tax payer burden, never even taken a single dole cheque, but I need to give that up.

And let me tell you, my upbringing was far from extravagent I can tell you. So why should I be penalised just to give some other lazy **** a roof over their head?
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Everybody has a story.
Nobody wants your house.

Just don't want anyone touching mine or the company's assets I own because some want to put it in a future fund to help all Australians.


Any remember, your house amd mine appreciated beyond our wildest dreams, money which we didn't earn.

Our kids won't enjoy anywhere near the same appreciation if any regardless of tbeir sacrifices.
 
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