DOWNSIZING & MORE ABOUT THE PROHIBITIVE COSTS OF DOWNSIZING BESIDES STAMP DUTY!
CAAN … on further thoughts about “How to Encourage Seniors to Downsize” … we recommend you think about these!
The article said itself ‘downsizing’ is not driven or avoided by:
-loss of benefits
It is about needing a more suitable residence, that the family home is too much to look after due to:
-loss of partner
Most stay as long as possible, yes it is an emotional issue, something it seems these
ADVOCATES OF SQUEEZING OUT OWNERS OF DETACHED DWELLINGS in desirable areas are incapable of understanding.
The keenness that a cabal of interest groups have in promoting downsizing, and a broad based LAND TAX is alarming. Why has this emerged?
Could it be:
-they believe it demonstrates they are up to the task, showing government and others they are literally on the money, they have got the ideas
-are they desperate to come up with ideas that will funnel more housing into the grasp of developers
-owing to compulsory superannuation more retirees are ‘self funded’, they don’t qualify for any government pension so the loss of benefits is irrelevant
MORE COSTS are involved in selling and buying (besides stamp duty) than acknowledged, and they are a real disincentive to relocating, just think about the costs of:
.fixing up the home for selling
.even small changes to the new home
.increased transport costs
.having the cash on hand to pay utility costs, insurance, levies and so on…
What about the fact that to downsize it will mean:
-moving away from the location enjoyed for sometime, and
-given the cost of metropolitan living it is unlikely not much money will be left in the coffers of those downsizing; there’s not going to be that lump of cash to be put into SUPER!
These ideas need to be called out for what they are … if they look like pig, smell like a pig and feel like a pig well then they must be a …
WE suggest perhaps this Think Tank are peddling a myth, or worse still they are building a belief that they want to be true … and if they bang hard enough some – especially those with the levers in their hands – might then allow it to happen, never mind the consequences!
WHAT FORCING SENIORS TO DOWNSIZE REALLY MEANS ….
-opening up another avenue for developers to landbank, demolish and redevelop to sell more “new homes” to foreign buyers … because the supply cannot meet the foreign demand!
SOME FACTS …
-that the Housing Affordability Crisis locking out a whole Cohort of Aus tralian First Home Buyers is due to LNP Government policies, it would seem have been written by the Developer Lobby!
-the 100% sell off of “new homes” to foreign buyers (FIRB ruling change)
-our suburbs have been rezoned for “Higher Density” both high-rise and medium density
-the inflated value of homes is due to the influx of black foreign money in our real estate
VIEW CAAN Facts Sheet for how the Housing Affordability Crisis was contrived!