Of course I will. If Labour wins this time around the first few increases will have nothing to do with them being in government. After that I'll judge based on what government monetary policy looks like. For example, if in their first Budget they run a massive deficit and borrow heavily, that will put upward pressure on interest rates. I'm balanced in my political analysis. Some on here are not.
Politics Super Thread - keep it all in here
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Tim Sheens
Well-known member
Trouble is it has gotten past the point of so many people on basic wage being able to live within their means without going to food banks and the like just to get by.
It can be hard enough for someone on a reasonable income to compete when getting a rental property and virtually impossible for a minimum wage person to get one. Meanwhile there are thousands upon thousands of properties in the hands of foreign ownership sitting vacant.
It certainly would have,our inflation rate is quite high which is putting pressure on interest rates.For the record i would expect them to go up again in the next 6 months.
pawsandclaws1
Well-known member
Have you just lost the election? The look on Scumo's face when asked this question by a reporter is worth seeing.
Magpie_Magic
Well-known member
Agree.
The government's over the last 20 years sold out on their own wage earners by allowing a massive influx of Chinese illicit money buying up property.
Just a hypothetical, if and when China makes a move on Taiwan I suppose the government will confiscate all these houses after the Russian precedent.
Magpie_Magic
Well-known member
Agree.
Trouble is inflation is global due to the west printing 25 trillion most of which has ended up in housing and stocks.
Its an American export.
All our governments could have done is micromanage house prices and kept those lower so there is less debt.
Tim Sheens
Well-known member
Too many incentives for housing in general and not nearly enough social housing.
More than two decades since the tax changes of 1999 on top of negative gearing on existing properties that have disrupted the economy and has housing a disproportionately large part of it as a result.
I've tried to be polite in my responses to you but you just can't help yourself, can you. First, I know it's Labor I've been writing it that way for years. My auto correct took over and I missed it. Second I don't need any advice from you on how to analyse politics. You say you are tertiary educated but that's a lie, you're too stupid to have got anywhere near a university.
Finally, and this will probably see me having to sit down for a week or two, you are a complete and utter non-tertiary educated [This word has been automatically removed]WIT. So, [This word has been automatically removed] OFF.
Finally, and this will probably see me having to sit down for a week or two, you are a complete and utter non-tertiary educated [This word has been automatically removed]WIT. So, [This word has been automatically removed] OFF.
Tim Sheens
Well-known member
I would expect them to go up again next month, as I think that they should have gone up by double today's rise.
Previous data had already shown that a similar rise was needed a couple of months ago for mine, even allowing for covid.
Still, I believe rates were artificially way too low and for far too long anyway.
stryker 69
Well-known member
Such a braindead question. He treated it with the contempt it deserved.
stryker 69
Well-known member
lol they should. I need a cheap holiday house in the west.
earl
Well-known member
Just to let you know my wife is tertiary educated. I don't think brains are that important when it comes to getting a uni degree.
earl
Well-known member
It's not the governments fault though. It's been a policy decision by governments worldwide.
Magpie_Magic
Well-known member
I agree but the idiot I was replying to made a big deal a couple of weeks ago about being tertiary educated as if it was some sort of badge of honour. I was merely rubbing his low-rent nose in it.
earl
Well-known member
It's not that simple as well. Sure the policies have been bad and now too many people have too much money tied up in property.
I don't think it's the Chinese who are causing it as well. I think it's us. We borrow to the hilt to out bid each other.
My in-laws live in the Eastern suburbs when they are here. They are Fillipino. My MIL says the only people who can afford a house where they live are the Chinese. I think it's racist BS.
When it comes to houses sitting empty my in-laws have been in the Phillipines for the whole pandemic. The extended Muslim family have moved in and they are paying no rent. So living it up in the Eastern Suburbs for free for the poor.
stryker 69
Well-known member
Western Oz mate.
I wouldn’t be caught dead in western Sydney lol….
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