Election Results and Potential Influence on Property Markets

Discussion in 'Property Market Economics' started by BuyersAgent, 21st May, 2022.

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  1. sash

    sash Well-Known Member

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    I like socialism..... socialismo or muerto....:p:D

    "Some animals are more equal than others"
    From the book "Animal Farm" by George Orwell
     
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  2. Piston_Broke

    Piston_Broke Well-Known Member

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  3. KJA182

    KJA182 Well-Known Member

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    Its amazing how far the overton window has shifted

    Some of Keating's policies would be considered "far right" in todays politics
     
  4. sash

    sash Well-Known Member

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    As I said socialimo or muerto... there will be some level of grandfathering though
     
  5. Sackie

    Sackie Well-Known Member

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    Living under a hardcore socialist model would absolutely destroy Australia. It would make our great country become just another ****box country.
     
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  6. KJA182

    KJA182 Well-Known Member

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    the only people that like socialism are those that have never lived under it lol
     
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  7. Sackie

    Sackie Well-Known Member

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    So bloody true. I haven't, but I know plenty of people who have and now live here and say Australia is absolute heaven.
     
  8. Traveller99

    Traveller99 Well-Known Member

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    Same situation when some label those who value liberty and freedom as 'freedumb idiots'. Ayaan Hirsi Ali always comes to mind. 551F0293-6092-4431-949E-99C5A40F3722.jpeg
     
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  9. Piston_Broke

    Piston_Broke Well-Known Member

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    In the west side of EU there's a lot more socialism than appears and it's reflected in their govs and laws. Even though they rarley officially were in power till recently most had around 30% of the population that sympathised with communism and more with socialism, and had to cater to the population.
    If yoy were there 20 yrs ago, we're about there now.
     
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  10. Sam123456

    Sam123456 Well-Known Member

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    Yeah, although you are only hearing from the ones that left.

    Socialism is also a pretty nebulous term these days. Is Norway socialist? It's not somewhere I'd like to live but many of the locals believe it's entirely adequate :)
     
  11. Sam123456

    Sam123456 Well-Known Member

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    I believe labor would like to stay in power, so that is not going to happen despite the greens+1 controlling the balance of power in the senate. They learnt their lesson with dividend imputation.

    The issue for the greens is that labor have a majority in the House, so the senate is only going to be presented labors agenda and the greens agree with a lot of it, so it'll pass. All the extra greens policies will never make it to the Senate.
     
  12. KJA182

    KJA182 Well-Known Member

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    one of my favourite women :)
     
  13. gach2

    gach2 Well-Known Member

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    Help to buy Scheme

    Correct me if I am wrong
    So they are pretty much offering to buy 30/40 percent of a property to eligible parties
    The parties will only have to service the remaining 60/70 percent minus deposit (from 2%) loan

    When sold they will only get 60/70 percent of the proceeds (I believe) or 100 percent of the proceed and pay back the original 30/40 percent????

    If they only get back 60/70 of the final proceed wouldnt it be in the govts interest to keep property prices stable at the least?

    I would also think property below threshold would have increases in value upto the threshold
    Developers/anyone with splittable blocks and end values under threshold might rise

    While I dont think this program make a significant change, the only downside be yields? Probably looking at markets of current renters to be switched to owner occupiers
     
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  14. Redom

    Redom Mortgage Broker Business Plus Member

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    Good summary.

    Theres already plenty of incentives for the taxpayer/government on stable property prices, much much larger than this, to keep property prices from falling. The tax base erodes, directly and indirectly when prices fall - much more than this scheme.

    And yes, prices will push up in this segment given the rather massive (~300k) subsidy buyers have. It will push up prices in this market. E.g. a 900k terrace may push up a bit to reflect increased demand.
     
  15. Sam123456

    Sam123456 Well-Known Member

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    Hmmm, youth to see too much price effect. There are only 10k places in the scheme vs150k fhb plus other buyers who don't currently own a home
     
  16. Redom

    Redom Mortgage Broker Business Plus Member

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    Yes macro wide it’s essentially nil.
    For particular stock, eg new family homes in sydney around 900k - there’s loads of new buyers that Were not in it before. This market gets some boost.
     
  17. Bill Goh

    Bill Goh Active Member

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    pretty unfair policy imo to hard working people in this price segment who are just above the elfigibility threshold. If you earn $125k you have to niw buy artificially increased house prices without the 30-40% govt help. But if you are on $115k, no problem. Better off dropping your hours just to become eligible!
     
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  18. Illusivedreams

    Illusivedreams Well-Known Member

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    Isn't this the same for most policies?

    Most of our Taxation system,child care assistance system, Medicare levy system
    Is highly punitive.

    Its better to be a lower income earner and get non stop government benefits and Entitlements.
     
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  19. KJA182

    KJA182 Well-Known Member

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    come on now. you have to pay your "fair share" o_O
     
  20. gach2

    gach2 Well-Known Member

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    I dont really think so
    This is probably suited more towards those that have peaked their careers but still feel theres no way they are able to buy a desired PPOR in their lifetime, most likely due to not being able to save up for a deposit (50-100k)

    Think about single parents etc that have had crazy rent hikes and being forced to move around etc. Probably less about investment (probably 10k in some instance) and more about a permanent place to live