WHO in their Right Mind would allow the Government to have EQUITY in their Home?
IN the SMH today this piece, “New hope for first-home buyers in return for giving STATE some equity”
HOWEVER … it seems the Community are onto it!
THESE are their views on Social Media …
WOULD this be about boosting demand and increasing prices? Cough … cough … Who would be the winners? Would that be deve-lopers, and existing owners? Especially investors
EQUITY GONE! Welcome to NSW … the equity state … for some …
AND allowing for the Status Quo to remain … by sweeping under the carpet the real causes of negative gearing … capital gains tax … super low interest rates … government grants … franking credits …
AND we must not forget the ‘Big Australia’ with millions having come to our shores seeking Permanent Residency by buying a home … these numbers increase competition … pushing up prices!
AND ‘Hot Money’ is awash in the Australian Housing Market … the second tranche of the Anti-Money Laundering Laws for the Gatekeepers was shelved for more than a decade, and then the Morrison Government exempted the Gatekeepers in October 2018 …
REMEMBER just a few months ago when this was just a conspiracy theory … Now they’re talking about parents ‘giving’ equity to the government to help their kids buy a home … and both could end up owning nothing …
This is #socialism from what claims to be a #Liberal government, and would be the beginning of the end of private property ownership.
The State Government becoming a lender won’t help affordability. It will simply push up prices and mortgage repayments more. These increased repayments will push people out of the market, and lead to more defaults in the market!
So, basically we’ve spent decades distorting the property system, and now we’re going to make it worse for you to keep those property prices juiced. #auspol with a tax handout to home owners. Isn’t this Peter Costello’s policy all over again?
The Liberal Coalition particularly with the Howard Government in the late 1990s have been distorting the property system by enticing the Middle Class Chinese to invest in our housing to gain ‘Flexible Citizenship’, and this led to a housing boom in the early 2000s peaking in 2004 … and again from late 2013 with a large range of temporary visas allowing wealthy foreigners to buy ‘new homes’ to gain a Permanent Resident Visa. This boosted demand from this high population growth
Increasing 👏 demand 👏 does 👏 not 👏 reduce 👏 prices.#auspol
Dom_Perrottet Chairman of the Peoples Republic of State Owned Private Property. #Sydney so toxic that state intervention in the property market is the new way of subsidising #LNP donor developers
AND this Scheme raises the question:
How many of these ‘give people money to buy a house’ policies are the government going to try before they admit that they just drive house prices up further?
WHAT a “Proper Government” would do … would be to start with funding Public Housing
Oh the things they’ll do rather than release more land, neuter councils, etc.
CAAN: However, if and when the Government releases more land the Feds must desist with high immigration because what is the point of releasing more land for housing as they maintain the overseas competition? Oh, how silly of us … they want to maintain the competition to jack-up prices … and …
Until negative gearing and money laundering is jettisoned, housing will be expensive. This “idea” is S.H.I.T.
Government is doing everything they can to get people into the market. Now they want to be an equity partner with First Home Buyers who can’t afford to get in!
. Banks won’t wear it, if borrower defaults then they want all the equity including parents share! Game changer should be non recourse loans as in the US. Banks would then behave!
….CRY FOLKS, Sydney is out of control and is affecting the rest of the country. Australia, an island country, close to the South Pole, should avail the cheapest housing!
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COMMUNITY ACTION ALLIANCE FOR NSW (CAAN): HOUSING INEQUALITY WITH AUSSIES LOCKED OUT! 