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Re: General Discussions

Reply #2640 –
Quote from: kruddler – on
You need to increase the 1st home buyers grant to a point where it is significant in helping people get into the market.
It doesn't work though does it, because the people building or renovating the affordable homes know buyers in that segment qualify and just bump the price.

My Asian business associates send their kids to study here in Aus, while they are here the kids apply for permanent residency, then all the kids get a 1st home buyers grant. They end up owning multiple properties a few years out of uni.

It reminds me of the disability allowance, build or renovate a house and make it accessible, ramps, a lift, etc., etc., and all of a sudden you can have competing buyers who qualify for an allowance to secure or create a disability compliant dwelling. I don't know what it's worth now, but it was up to $300k. How do I know this, a good friend's daughter had spina bifida.
"Extremists on either side will always meet in the Middle!"

Re: General Discussions

Reply #2641 –
It's interesting reading this debate, hardly anybody has made a genuine point or suggestion about the future of children of grandchildren, most of the serious talk is about getting around stuff to make more money now.

I thought the video was funny, but then I realised I was laughing at very damaging fake news in comedic format, fake news probably made by the wealthy kids with nothing else to do but protect mum and dad's investments, fake news that could see someone like Hanson win even more seats and nobody will be laughing then!
"Extremists on either side will always meet in the Middle!"

Re: General Discussions

Reply #2642 –
LP - the only way for my kids will be through inheritances that we will get in the next 10 years or so. I think the boat has sailed for those that aren't in such a fortunate position. I don't understand how people can repay $3k a fortnight ($1m loan) or $2.4k ($0.8m loan)

Re: General Discussions

Reply #2643 –
Quote from: dodge – on
LP - the only way for my kids will be through inheritances that we will get in the next 10 years or so. I think the boat has sailed for those that aren't in such a fortunate position. I don't understand how people can repay $3k a fortnight ($1m loan) or $2.4k ($0.8m loan)
I agree, but much of the above debate descends into a bunch of old people defending their investments and tax breaks, they claim they are for the kids, but the actions and desires they declare betray a more selfish aspect.

They want cheap free health care, free discounted travel, low fuel prices, reduced tax on gains and dividends, low rates, etc., etc., all of which is funded by our children.

I'm not an economist, far from it, but even I can see this system is broken and the older generations are defending the wrong stuff.
"Extremists on either side will always meet in the Middle!"

Re: General Discussions

Reply #2644 –
This system effectively makes matters worse for new buyers.

We are all grandfathered in for cgt and negative gearing.  I can release equity, use it to buy a knockdown, build a duplex and then continue claiming. The people trying to get in are going to be buying apartments and units.  The sort you used to hold for a few years, negative gear to build a deposit and then release equity from to buy your next property.  Thats going to be harder for the next generation now. 

"everything you know is wrong"

Paul Hewson

Re: General Discussions

Reply #2645 –
Quote from: LP – on
Quote from: dodge – on
LP - the only way for my kids will be through inheritances that we will get in the next 10 years or so. I think the boat has sailed for those that aren't in such a fortunate position. I don't understand how people can repay $3k a fortnight ($1m loan) or $2.4k ($0.8m loan)
I agree, but much of the above debate descends into a bunch of old people defending their investments and tax breaks, they claim they are for the kids, but the actions and desires they declare betray a more selfish aspect.

They want cheap free health care, free discounted travel, low fuel prices, reduced tax on gains and dividends, low rates, etc., etc., all of which is funded by our children.

I'm not an economist, far from it, but even I can see this system is broken and the older generations are defending the wrong stuff.
I'll disagree and suggest this budget is a tax grab for cash and votes brought on by heavy Government spending, poor economic management and targets non labor voters in older folk, the disabled and hands their money to younger people and migrants who make up the bulk of labor voters. Intergenerational wealth and housing supply are just a smokescreen for a cash grab. Albanese and Chalmers would sell their soul to the devil and then steal it back for votes...
 

Re: General Discussions

Reply #2646 –
Thry - knock-down and build duplex - there is now more supply,  so doesn't that also meet a goal of the government?

Re: General Discussions

Reply #2647 –
Quote from: dodge – on
Thry - knock-down and build duplex - there is now more supply,  so doesn't that also meet a goal of the government?
Yes but that equation was the same for me before, and how available is it going to be for the ones trying to enter the market?

Im fine, im going to be fine. Ive got properties i dont need to sell (one we live in, one we bought before we bought this one), and no aspirations to move to a different suburb.  If i did though, id be really annoyed.

Imagine those who built their first home in Craigieburn and beyond anticipating enjoying the capital growth and then moving inner?

How about the ones who build or buy anticipating a capital growth that for one reason or another doesnt pan out?  Are they going to get subsidised for their losses?

Im not hearing how any of this helps anyone when all im hearing is that less properties are likely to be sold as that means you lose your grandfather clauses.
"everything you know is wrong"

Paul Hewson