FROM the AFR:
‘HOUSING MARKET TOO HOT FOR RENOVATORS’ ….
Not just too hot for renovators to flip …
DAILY we hear reports that it is the very low interest rates and government grants that have pushed up house prices. TRUE!
AND the impact of Tax Benefits for investors of Negative Gearing and Capital Gains Tax … sadly the ‘Silent Majority’ who largely don’t benefit were spooked by the dirty 2019 Lib campaign … TRUE!
BUT we figure there is even more to it than that!
CONTEMPLATE the impact of … the Residential & Commercial Market Research companies (we won’t name them) but daily we hear reports from them that:
-house prices are rising daily; weekly; monthly; and predict also in early 2022
-the consequence of this is that sellers hold off! They want even more!
.this means the supply reduces and maintains the hike
COULD it be that meanwhile Real Estate Agents suggest to prospective sellers to hold off … that house prices are going to increase further, and that they (the agents) have enough listings currently …
THIS in turn means that if there is another hike following sales by these sellers … that they too may well be confronted with being priced out!
SADLY those who can still afford to buy are looking in a market that is largely made up of “Crap” … not only are they unaffordable, but many have termite damage up in the framing and roof timbers, concrete cancer in the slab, drainage and waterproofing issues, faulty electrical wiring, leaky roof …. and so on!
WHERE will all this end but in tragedy not only for purchasers who will later have to meet higher mortgage repayments and expensive restoration works, but sadly for a whole Cohort of Australians denied security of a home! To be life-long tenants!
IS that the Plan? What next for the Investor class? Could that be Build-to-Rent? It would seem through these price hikes they have a Whole Cohort of Australians captured; locked out of Home Ownership!
MEANWHILE the Liberal Coalition policies also remain in tact that allow foreign buyers to buy our housing and gain permanent residency, and to launder hot money too! The Morrison Government exempted the Real Estate Gatekeepers from the AML Laws in October 2018!
RELATED ARTICLES:
SEARCH OUR WEBSITE FOR MORE REPORTS ABOUT Anti-Money Laundering Laws, MONEY LAUNDERING, SECOND TRANCHE OF THE ANTI-MONEY LAUNDERING LAWS WITH REAL ESTATE GATEKEEPERS EXEMPT ….
COMMUNITY ACTION ALLIANCE FOR NSW (CAAN): HOUSING INEQUALITY WITH AUSSIES LOCKED OUT! 