HOUSING Affordability: Australians Locked Out!

Aussie House Prices (alleged Values) have shot up!

/ caa4nsw

CAAN Photo, a Sydney highrise precinct

AUSTRALIA faces A SHORTFALL of 106,000 homes as prices, and demand climb

SYDNEY alone has swung from a forecast surplus of 16,900 dwellings to a shortfall of 9,600!

What a bloody mess …

Remember this for future elections … like don’t elect a Party led by a former member of a deve-loper lobby group … doh …

IT’S great for those with House Portfolios …

BUT when a home owner sells they may find themselves priced out within weeks of their sale as the HOUSE PRICES continue to rise! How good’s that?

Priced out of where they were intending to buy … THE SEARCH is then on … and on! It may take 12 months before they find another home to buy; having wasted $Thous. on renting and removalists …

TO find themselves far from where they intended to move … Though it may be far more pleasant now than Sh.tn.y!

SO what of the impact on the Sellers health? Like a Cancer? Their psychological health?

Meanwhile the rodentine continue on this journey, and now they have pulled off another ‘Tick up’ nationally!

WHY?

WHEN more people have become aware of the stress and the traps with selling the ‘family home’ with having learnt of the market PITFALLS from family and friends who have fallen victim especially to the Sydney property market. They won’t be selling …

BUT what of those so stretched with the interest rate hikes … the cost of living, a consequence of the past Liable decade .. who will be forced to sell!

HOWEVER, our Families are now wanting to enter the Home Market … to find that they will have to postpone having a family to maintain mortgage repayments as the biological clock keeps ticking …

The winners, of course, are predominantly the agents.

PERHAPS it’s time that they were forced to give something back from their too frequent lucrative commissions?

WHAT of the negative health impact of this hooker market upon home buyers and renters?

With the media for years now circulating the disinformation that it is ‘The Boomers’ that caused these inflated house prices? When it is only a minority of wealthy Boomers who likely inherited from both sides, and were already well healed have benefited greatly from the TAX BENEFITS of negative gearing and CGT?

However, their numbers don’t compare with half of their generation who are divorced, and many of whom now rent and do not own a home!

WHO bought this media hype? Of course for the unobservant … oblivious of the impact of high immigration during the Liable Party recent decade – invited to migrate to Australia to inhabit the deve-loper high-rise precincts with a view to buying a home or more …

AND it was this contrived DEMAND that pushed up the house prices of the limited supply for the likes of deve-lopers HT, and JN, and the agents in receipt of lucrative commissions … locking out Australian First Home Buyers …

SO it would seem it is time that the Property Industry gave something back, isn’t it?

BECAUSE of the negative impact on the mental health and well being of our families … and in turn our Australian Society … it has become somewhat warped, hasn’t it? Misshapen by ‘House Values’ …

AUSTRALIA was known as the ‘land of the fair go’ where we had a majority of home owners … a happy and secure society …

ISN’T it time the agents, and deve-lopers gave back some of their excesses? The landlords too are a minority compared to the growing numbers of aspiring Australian First Home Buyers and Renters now unable to afford a home let alone a rental!

WHY shouldn’t the Property Sector have to pay a TAX to cover the cost of Australia’s Health Budget that is stretched by the upswing in its citizens seeking medical treatment for depression, anxiety, and the impact on their children who are no longer as well nourished and clothed. Denied the opportunity to visit the fun park, attend birthday parties, or go to the movies because their parents are stretched with either house payments or rentals to be able to afford anything else!

It’s like we are back to the 1950s Liable Years …

Vaucluse Residents Realization that OVERDEVELOPMENT is about to come home to roost!

/ caa4nsw

SO why is it that these Vaucluse candidates propose that Sydney’s eastern suburbs should be different from other burbs across Sydney – those ‘others’ punished with more and ever more higher density housing?

YET so many candidates including these for Vaucluse claim to support development when appropriate?

WOULD this have somethin’ to do with locals and their real estate portfolios? …

AND why they reside in Vaucluse & surrounds?

HOW come our ‘local environment plans’ that set the controls for building height etc are eroded by developers?

WHY is it our new LABOR Federal Government has put the States on notice to help build 1 MILLION HOMES by 2030?

IS it because over the past decade of the LIBERAL COALITION that Australia sold its HOMES to FOREIGN BUYERS?

AND to local INVESTORS with Real Estate Portfolios creating a huge demand; diminishing SUPPLY … and cough … cough … pushing up house prices?

AND what this means is that those sellers/home owners are at the mercy of the rising market … to be priced out?

AS our families are locked out of HOME OWNERSHIP … forced to be lifelong tenants to investors … including foreign buyers … thanks to the policies of the liberal coalition … Search for earlier related reports.

READ MORE!

https://www.smh.com.au/national/nsw/overdevelopment-bludgeons-us-out-of-our-homes-say-residents-20230208-p5ciwi.html

What Gens X Y & Z need to Know about Build-To-Rent ahead of 21 May 2022

/ caa4nsw

Photo: Sydney Olympic Park; Herald Marketing

We read a report recently that spells out what we suspected about Build-To-Rent (BTR), and then some – it appears to us that it is a scheme to make our Families life-long tenants – this article said it was ‘a fake affordability cure’.

What it boils down to … it will add another ‘PRESSURE GROUP’ of investors/corporations to the housing market and increase their humongous lobbying power to GOUGE TENANTS even more!

NOTE … only BTR that would be run by a Labor Government or one which offers the prospect of ownership would assist those seeking home ownership!

And as revealed in the AFR ‘Build-to-Rent pulls a 20pc premium on traditional rental’ by Michael Bleby:

BTR attracts a 20pc premium in rental income over build-to-sell apartments of the same size, according to a report from a third party!  For a one bed apartment in Sydney Olympic Park the rent is 19% higher than an equivalent build-to-sell unit, and the difference is 27% for a 2 bed unit!

For almost a decade now we have had the LOWEST WAGES GROWTH for some 60 years … this was indelibly set in train back in the Howard Liberal Government of the late 1990s when it introduced Visa workers to compete for jobs to maintain low wages.

Currently we have some 60% home ownership, and declining rapidly with a whole Cohort locked out of the market and renting …

In the 70s we had 70% home ownership

BTR enables the wealthy investors and corporates to develop an apartment complex to lease all the dwellings.

It is said to be very successful in the United States and the UK, and now in Australia like the US we too have a whole Cohort of the ‘Working Poor.’

An EY report assesses there will be 175,000 new BTR homes in Australia … with $100B pipeline of development in a decade!


The BTR sector promote affordability, security and a stable lease reducing the necessity to move so often.

However questions have been raised like:

-How can corporatizing the rental market deliver lower rents?  

-How likely is it that a corporation would charge any less than a landlord?

-Would they be more or less responsible for maintenance?

IT appears to us at CAAN that ‘The Haves’ will only grow their wealth … and real estate rogues are set to make even more when managing whole blocks … even precincts … The housing supply would certainly grow but what of the ScOmO high influx of migrants increasing the demand?

AND … of course ‘they’ (investors and corporates) re after ‘tax breaks’ on GST and Land Tax for these BTR projects …

Currently there are two completed BTR developments. 

On Queensland’s Gold Coast Australia’s first and largest BTR located at the Commonwealth Games Athlete’s Village. It is a development of 1,251 dwellings on a staged release strategy over 3 years. With hundreds of ‘homes’ left vacant! A strategy to maintain high rentals!

The Abu Dhabi sovereign wealth fund owns this development!  Not the Australian Government …

Mirvac’s Liv BTR project at Olympic Park, has rents 10% to 30% above the local market rate. The rents last year ranged from $535 a week for a one-bed apartment, $615 for a two-bed, and more than $1,000 for a three-bed apartment.

To max their investment they provide packaged gyms, facilities, appliances and services 

The property media tells us there is a shortage of development sites. So what has happened now?  Have low rise areas been rezoned for a Pipeline of BTR development?

What of the social and environmental impacts of migration fuelled rapid population growth?

RELATED ARTICLE: https://themarketherald.com.au/a-boom-in-build-to-rent-developments-set-to-change-apartment-living-2021-05-25/?fbclid=IwAR1ITaMi_AjUByGm3VQ6C7uwjC8TFpMbzsZYVu2v_Aasvu0LkOnPBSaRdNA

Daily Terror Front Page … ‘Don’t let the Dream Die’

/ caa4nsw


That was the angle taken by Journalists, Matthew and Lachlan on Monday, 14 March 2022

And “Key Workers can’t afford Sydney Homes”.  The reality is this at least dates back to 2016 …

HOW come highly skilled Key Workers are not paid enough to afford a home within proximity of where they work?

Those among them – predominantly couples – who manage to scrimp and scrape up a deposit for a home are finding it 30 … 60 …. 80 … 90 Kms distant from where they work!

To then have to work long hours … and even a second job to maintain mortgage repayments …

Key Workers including our nurses, teachers, police officers, fire fighters, paramedics – to name a few! Plumbers too can’t afford to buy a home in this market!

And does it also seem that housing is priced far too high for what one gets?

Obviously this is a failure of GOVERNANCE!

WHY do the deve-loper lobby groups like the Urban Taskforce, the Property Council of Australia and others hold so much sway over the Liberal Party in NSW? … Well we have been spelling that out for some time now … the financial backing that the Liberal Party enjoys comes in many forms including by issuing invitations to wealthy party members, and corporations to attend lavish Liberal Party lunches and dinners for thousands $$ …  grassroot donations from party members and individual supporters through membership fees, subscriptions and small donations … even multiples of small donations!

But it would appear donations from Big Business including developers, and deve-loper lobby groups, mining, hotel chains …. have inflated party coffers the most …

Recently Anthony Roberts has been reappointed as the Minister for Planning and Homes … why was Robert Stokes moved on from 5 October 2021?

We had not heard much from AR for some time …

IT would appear that Roberts has enjoyed a very good relationship with the property titans …

These articles, it would seem, reveal how mutually beneficial this relationship could be perhaps!

‘The Semi-cooked Property Sector asks new Minister to rethink Predecessors reforms’

And it appears this pro development government will enable developers to increase their profits by reducing their infrastructure contributions (levies) to the communities from which they make their money!

https://www.smh.com.au/national/nsw/semi-cooked-property-sector-asks-new-minister-to-rethink-predecessor-s-reforms-20211223-p59js5.html?fbclid=IwAR2Vrt7_2QD1ZwWBXheLr3YcSoIz6NDBPSDPNNCE8gnpSGhrKfQDOx9VEcc

‘Pro-developer group launched‘

At a time when the NSW government is under fire on the issue of “over­development”, NSW Planning Minister Anthony Roberts launched a new pro-developers group headed by his friend and former campaign manager Bill Pickering, featuring developers set to benefit from the government’s new “priority precincts”.

Note Bill Pickering was a former Liberal Councillor and Mayor of Ryde

https://www.theaustralian.com.au/subscribe/news/1/?sourceCode=TAWEB_WRE170_a_FBK&dest=https%3A%2F%2Fwww.theaustralian.com.au%2Fnational-affairs%2Fstate-politics%2Fnsw-planning-minister-launched-prodeveloper-group-headed-by-his-friend%2Fnews-story%2Fd2d11dc86ff7d63d8ef92382562df58f&memtype=anonymous&mode=premium&v21=dynamic-warm-test-score&V21spcbehaviour=append

‘Greens want Donation Reform after a look at Minister’s Diary‘

– The Fifth Estate: 2018

Meriton (Apartments and Property Services) has donated $226,000 since 2010, and met with the minister four times this year. The Property Council of Australia has donated $65,290 since 2010 and met Mr Roberts once this year (though the PCA decided to ban all donations to governments at all levels from October 2016), while Toga Group donated $93,000 to the federal branch, and also met the …

Note “NSW planning minister Anthony Roberts met with 53 property developers or property interest groups between January and September this year, but not a single ordinary resident, new information released by the Greens shows.”

Greens want donation reform after a look at minister’s diary

In Sydney and You’re pretty well set for life: Housing Minister Anthony Roberts

February 2017:

Today Roberts was spruiking alongside Mirvac.  Mr Roberts spoke of ‘benefit from higher prices; they can be beneficiaries of the increase in the value of their property.’

https://www.smh.com.au/national/nsw/buy-property-in-sydney-and-youre-pretty-well-set-for-life-housing-minister-anthony-roberts-20170224-gukm56.html

With changes to the NSW Strata Laws … 

‘The 21 new NSW Strata Laws you really need to know‘

Forced sales

The big ticket item in the strata law changes, the government prefers to call this “collective sales” but it basically means that 75 per cent of owners can compel the other 25 to do something radical with a building that may or may not be well past its use-by date.

1. Redevelopment: Just 75 per cent of owners can vote to sell the strata block to developers for demolition and replacement with something bigger, shinier, safer and more expensive. Currently only one dissenting vote can stop this.

https://www.domain.com.au/advice/the-21-new-nsw-strata-laws-you-really-need-to-know-20161122-gsuuo2/?fbclid=IwAR3sb4GeeArlW75aFi8JFfdBrtRzMW_Gh31IFdmXLoqouUL8V7JxTH_8UEY

.

WHO in their Right Mind would allow the Government to have EQUITY in their Home?

/ caa4nsw

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!





SO why are there so few Sydney Burbs … and so distant … within the Reach of First Home Buyers?

/ caa4nsw

At the end of last year only a handful of homes – mostly tiny apartments – were priced at or near $800,000, the price cap for Sydney buyers using the federal government’s first home loan deposit scheme –

SO we at CAAN have come up with some suggestions for aspiring First Home Buyers and the Bank of Mum and Dad and …. and the only hope we have is for the voting public to WAKE UP and get rid of this current lot in government who are only looking after the CAPITALIST narrative. They have lost the plot, they are CROOKS, and SHYSTERS!!!! ….

Every policy is contrary to the policies that were put up by the Opposition, and here we are wondering what on earth we have done to housing affordability?

,… it is OUR FAULT.  WE PUT THEM IN!!!…. Remember the GST???,…the NEVER EVER GST?? … Well we got it,.

WE VOTED FOR IT….(we DIDN’T…by the way) others did ……. and it has been the worst tax ever to burden the poor. 

INFLATION is UP and RISING. More about how the RBA addressed inflation from Alan Kohler:

https://thenewdaily.com.au/finance/finance-news/2022/02/07/real-estate-building-society-alan-kohler/?fbclid=IwAR2ZOCttOQibX788nxS-yp8TO8eEJ9iUxUCCHDykaWn4i0ohx4l5DRs-S6I

We need a change in government, and for the new government … LABOR … to get in and do a BACKFLIP!!!!! 

As the HOWARD GOVERNMENT used to do … LIE after they get in …. but this time it will be for GOOD intentions …. GET RID OF TAX PERKS and increase TAXES on the wealthy, and those that earn more than the poor mug next door, and indeed implement the policies they put up at the last election. It is up to us to BACK THEM and give them the SUPPORT and tell them what we want!

However, if the constituency puts Sc.mmo back there is absolutely no hope! 

We know who the leader of the pack (deve-lopers) is … it loves Australia … and buyers who fly in … and buy and …

The combination of almost zero borrowing costs, higher returns than cash or shares, and untaxed capital gains makes this farce unstoppable. Even though it is a gross distortion both of markets and social justice. 

COMMENTATOR:  Not one major party has a policy to deal with rampant house prices and rental inflation. Vested interests are in charge.

CAAN:  We would say, the LABOR party put policies on the table last time in an effort to do something about housing inequality, but was lampooned by a tsunami of campaigns that MISREPRESENTED the facts. 

Now, understandably they have walked away …. and appear not to have the constitution to re-visit the policies that are so desperately needed to fix the issue.  It is a very sad situation we are in!

Read more about ‘The Sydney suburbs within reach of First Home Buyer Budgets’ … FHBs will have to get in quick before House Portfolio Investors outbid them! 

What can you do about this? A good start would be if you were to share this to help turn things around through more awareness about how Our Youth have been done over!

https://www.smh.com.au/property/news/the-sydney-suburbs-within-reach-of-first-home-buyer-budgets-20220204-p59tr4.html

With the purchase of this very run-down semi in Camperdown fetching an outrageous price of $1.485M!  One could smell the damp coming up through the black ink ….

**The tightly held home sold $235,000 above reserve to an INVESTOR from Camperdown who outbid several upgrading young families.**…….  

Does this investor figure that house prices will continue to escalate … the house is so run down even if he uses seconds to ‘dress it up’ it will still cost a fortune to renovate …

https://www.smh.com.au/property/news/investor-drops-1-485-000-on-original-st-peters-semi-as-sydney-auctions-return-20220204-p59tvy.html?fbclid=IwAR17w7ikRnYsPLdeqrs6ohdoJR7fWPzS7Sl7UEjViIuBmgeV6pJSOrGxsXw

🤧….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!

Instead, has the most expensive housing market in the world. 

WHY? … The list of reasons is long, and getting longer, negative gearing, Foreign $$$$$$’s, 50% reduction in CGT ,… Family Trusts, property spruikers, and various others, including a cultural shift towards housing as a means of wealth creation, we’ve gone BONKERS …….. MAD. 

Interest rates are too low, and have been for too long. It all favours those with COIN, it is as simple as that. 

The wealth divide is HUGE, by pure virtue of the HOUSING MARKET. ****

IT IS CROOK****. 

Those making the decisions on interest rates have been on the side of the INVESTOR and obviously, anyone with LOADS OF $$$$$$$$$$$’s, and they haven’t a clue what to do now, least of all the constitution to fix it. 

Interest rates must be raised, and they must be raised DRASTICALLY for INVESTORS. 17.5 % sounds like the shot…..😉.

 …. that would make a difference! A quick fix alone. 

And the implementation and enforcement of the second tranche of the Anti-Money Laundering Laws would make a big difference …. currently a whole Cohort of our Youth are locked out to face life-long tenancy because of this …

This ‘Hot Money’ Market has been facilitated through temporary migration and visa manipulation with foreign buyers lured by the prospect of buying a home to gain a “permanent resident visa”!  

Which government exempted the Real Estate Gatekeepers from the second tranche of the Anti-Money Laundering Laws?  The Sc.mmo Govt in October 2018 …

WHY? What was in it for them?

How Meriton moves will benefit them from increasing Building Costs

/ caa4nsw

CAAN Photo: Meriton ‘Destination’ Macquarie Park; further development underway for a 63 storey tower

DESPITE increasing building costs Triguboff remains upbeat about the apartment market … why wouldn’t he? The * Gatekeepers in Australia remain exempt from Anti-money laundering laws … with the Australian Housing Market opening up to Singapore, Malaysia, India …

THE latest from Meriton … it has lodged plans for a 30 storey apartment tower comprising 211 apartments above six levels of basement parking in Oxford Street EPPING close to the business area and Metro station. It will rise above its neighbours of 15 and 22 storeys.

Following the scandal of the Opal Tower, the Mascot Towers and the release of reports concerning the thousands of defective developments there was buyer resistance.

But with the housing boom a large cohort were priced out of detached housing, and had to resort to apartments reducing supply.

For those developers remaining in the market aside from Meriton, and following all the bad press, they are concentrating on smaller-scale, high-quality projects.

However MERITON is maintaining its high-rise developments to capture not only overseas investors (buyers), local investors, and the growing rental market for Australians locked out …

Storey upon storey Meriton makes a motza!

Did Harry lead the way through the Urban Taskforce for high immigration to boost sales in the  apartment market?  Cough … cough …

Harry has said:

“China has more than 1 billion people, and they love Australia. I think they love Australia as much as we love Australia. So there will always be enough of them that will buy.”

“The problem with Australians is they are very slow. They ask their lawyer, they ask their financial adviser, they ask their family, they ask everybody. The Chinese don’t ask anybody, they come off the plane, buy their unit and go.”

IN fact many stayed having gained a Permanent Resident Visa with benefits …

From early 2022 MERITON has experienced 50% of its sales from returning investors with a 10% growth in its rental market over the past 12 months to grow even more with the return of students and migrants …

MEANWHILE Meriton has massive projects currently proceeding in Macquarie Park (two), Sydney Olympic Park, Parramatta (66 STOREYS)  and …. in the Gold Coast Queensland … Melbourne …

WITH international borders opening increases the competition and prices of these dwellings for Australians especially when competing with ‘hot money’ …

Triguboff said he expected unit prices to rise considerably in 2022 as construction costs continue to surge across the country and international borders reopen to migrants and students, placing pressure on the already low supply of apartments.

With Meriton occupying a large share of the apartment market it takes a proportionate large slice of the imported fittings and fixtures locking out other builders and clients …

Triguboff said: “at the same time the demand for units from owner occupiers and tenants, while already very strong, will be boosted by the return of international students and workers, so we can expect the prices to go up considerably.”

A win/win for Meriton Property Services which offers up to 90% of the contract purchase price … AND offers a low cost mortgage loan whether a resident or non-resident, investor or owner!

SO that the real question is …

What has happened so that Meriton has won more than anyone else?

IT would appear this can be revealed from the disclosed political donations for the most recent elections in NSW and the Nation …

MERITON Properties Pty Ltd donated $260,000 to the Liberal Party of Australia and $10,000 to the NSW Division of the Liberal Party of Australia AND $5,000 to the CDP (Fred Nile Group) … which party is well-known for doing deals with the Libs …

COMPARE that to a mere $10,000 to the Australian Labor Party (NSW Branch) and $50,000 to the ALP (Queensland).

https://www.abc.net.au/news/2020-02-03/political-donations-ahead-of-election-revealed/11923038?nw=0&r=HtmlFragment
WHAT this means is NOT GOOD FOR US … that Meriton holds more sway with this Government like that indicated previously:

“Then I will bring in more migrants”.
Harry Triguboff in the AFR in response to a question about oversupply of apartments.

http://www.afr.com/real-estate/phil-lowe-he-worries-me-a-bit-says-triguboff-20161019-gs5vg8

AND our Taxes are stretched further to fund an ever increasing demand for infrastructure lagging behind the population growth … and services (Health and Education especially) … since 2013 low wages growth from increased competition of Visa workers … our Families locked out of Home Ownership … facing life-long tenancy … with the loss of Australian communities, urban bushlands, heritage, and quality of life!

READ MORE!~

Meriton Unveils 30-Storey Tower for Sydney’s West

https://www.theurbandeveloper.com/articles/meriton-oxford-street-epping-development-application?utm_source=TUD+-+Daily+Briefing&utm_campaign=67ee52923f-EMAIL_CAMPAIGN_2021_08_11_01_49_COPY_01&utm_medium=email&utm_term=0_982c36d415-67ee52923f-195692726

Commentators now get Why 4 out of 5 First Home Buyers are locked out of most of Sydney and Melbourne!

/ caa4nsw

They noted the following:

–Over the last forty years I have known large numbers of migrants who have told me the same story. Told by Immigration that their skills were in short supply, and that they would walk into high paying jobs.

*When they got here they found that these jobs did not exist.

CAAN: It would appear “the Squattocracy,” the political and social power of squatters who had become rich exploiting illegally occupied Crown land have moved into this realm …

–The voters, our fellow Australians are to blame!  Through pure greed mums and dads, grandma and grandpa – the ones that voted this government back in knowing that Labor had good policies.

So please for all the people that returned this do-nothing (but damaging) government back in, and worry about their kids save your BS crocodile tears, and vote for what’s best for your kids and country.

We have had our time in the sun – this is pure greed and will leave our kids in servitude without a balanced life.

And for a lot of young people never able to have a home of their own

-Average income workers can’t afford to buy the roof over their head, and face a retirement in poverty.  Thank you Liberal Party!!

–And a big thanks to ex-PM John  “no-one ever complained to me about their house going up in value” Howard!

CAAN:  Yes, it was in the late 1990s that the Howard Government introduced the TAX Benefits of NEGATIVE GEARING and CAPITAL GAINS that meant housing became an investment rather than shelter for everyone.

There was an opportunity at the 2019 Election for Voters to grandfather their investment properties (to retain them) and to invest in ‘new homes’ if they so wished!  Negative Gearing was not being removed!

This would have led to more homes being built, and more jobs for the construction consortia; a Win/Win however they believed the scaremongering …. Lies of the Lib Coalition …

SO now we have this frightening predicament …

–What happens when salaries for the middle class are kept down, down, down like a bad Coles jingle, and all the wealth is held by the top 20% of upper management and executives who have no compunction about feeding themselves, so long as those below them are kept on the GIG Economy?

CAAN:  The Australian Unions are doing a lot of work, and are very active on social media … it’s time that Everyone (and our Youth) got with the strength … UNITED we stand … divided we fall as is evident! 

*Union fees are 100% tax deductible, which means you can reduce how much you pay in *tax if you’re a UNION MEMBER … hey hey!

–And when the immigration gate gets thrown open again it will get worse.
Young Australians will have them to contend with along with established home owners seeking investment properties and overseas buyers.
When is government of any persuasion going to DO SOMETHING?

CAAN:  Why do you suppose this is so?  The solution was on offer back in 2019, so who voted for this? There was a call from Labor to cut temporary migration numbers … prior to the Pandemic there were 2.3 MILLION Visa Holders in Australia of which 1.6 MILLION were Visa workers … (prior to this being introduced by the Howard Government in the late 1990s we had permanent migration of 70,000 per annum.)

WHO benefits … hehe ?

READ MORE!

https://www.smh.com.au/business/the-economy/four-out-of-five-first-home-buyers-locked-out-of-most-of-sydney-and-melbourne-20211210-p59gni.html

AUSSIE House Prices have Risen for 14 Months now … But for how much Longer?

/ caa4nsw

WHAT of the cost to our Society? With a whole Cohort locked out … others taking on debt of $1.4M … what then?

WHO really benefits by these huge price rises? 

IT is not the VENDORS who heaven forbid are not subjected to the same jump in prices that they have gained …

WHO benefits … it’s the real estate agent … $30,000 plus COMMISSION on each house sale to be pumped up more when the sale escalates beyond the Reserve …

AND with a number of sales each week …

IT’s not just interest rates … government grants … ‘Hot Money’ … but Agents pushing up house prices …

AND the rise in interest rates locks out the aspiring First Home Buyer with minimum deposit … not the investor …

CoreLogic’s head of residential research Australia, Eliza Owen noted big bank and other analyst forecasts of national housing price declines in 2023 due to increased interest rates …

HOWEVER … we may not have to wait until 2023 … SQM’s Louis Christopher report “Housing Boom and Bust” midway through 2022!

Read more!

https://bit.ly/3CYUSCS

Australian house prices rise for 14th month in a row

READ MORE!

https://www.abc.net.au/news/2021-12-01/house-prices-corelogic-november-2021/100663944

Alicia Barry Interview with Louis Christopher SQM Housing Boom and Bust Report

/ caa4nsw

THE FOLLOWING was discussed in this interview:

“NAB chief executive Ross McEwan has also called for more action from APRA, and when you have

someone in that position to call for further tightening, generally speaking, it’s already in the planning

stage.

“Put it this way, if the Australian housing market does not slow down by mid-2022, APRA will keep intervening until it does. We cannot afford another year of 20 per cent plus gains across the national housing market.”

https://www.afr.com/property/residential/housing-boom-poised-to-end-in-2022-but-not-in-brisbane-20211124-p59blj

Key Points …

-a lot of money spinning around the economy; a lot into housing pushing up prices

-Sydney and Melbourne significantly over-valued;  the most over-valued ever seen!

.with significant risks

-the financial regulators: the RBA and APRA acted in early November

-and will step in again to avoid a hard landing in our housing market

–the risks are the massive gaps between prices and income  *

-in Sydney only 15 suburbs with a median house price under $1M; extraordinarily over-valued

–if this market continues to rise anor 20% in 2022; likely we will have a hard landing

-likely regulators will step in again until the evidence is there the market is slowing down

–inflation at 3%;  thought to rise another half a percent  to 3.5%

-regulators to focus on investors through multiple steps

-with house prices out of control it will force a hard landing that affects the rest of the economy

.expect regulators will target the rate of growth

.less owner buyers in the market

–FHBs not seen since mid year

–investors now taking up the larger proportion of the buying activity

–a typical phenomenon we see towards the end of a housing cycle

–2022 expect an increase in demand for units; because they are more affordable

-international borders opening to overseas students and migrants who traditionally invest in units

-with lockdowns assumed to be over many will return to the big cities from the regions seeking more amenity in the cities

-6 to 8 months after the downturn started a good call for FHBs

-SQM not in a position to tell people when they should buy their home

-belief that the market will soften next year; not going to crash

-that the regulators will stop the crash if they can

CAAN: Sadly with our borders opening up for migrants and international students this will increase competition once again for Australian home buyers! And in the jobs market maintaining low wages!

ASK WHO IS ON YOUR SIDE?

WATCH!