Liberal MPs suggest radical plans to tackle housing affordability crisis

Liberal MPs are demanding the federal government consider radical plans to bring the runaway housing market under control after new figures showed the value of the nation’s homes soared by a record $450 billion in three months.

All cities reported an increase, led by Sydney . Canberra prices jumped by 5.6 per cent, in Perth they were up by 5.2 per cent while in Melbourne they increased by 5.1 per cent. Mr Alexander said all governments had to work together to put in place policies that would gradually bring house prices down to about three times annual household income. In parts of Sydney, they are currently atHe believes an independent authority should set the proportion of losses an investor could deduct for their investment properties, based on trends in the property market.

Mr Wilson is also concerned about housing affordability, warning if people can’t afford to buy then more rising rental costs will lead to a higher need for social housing. University of Michigan Professor of Economics and Public Policy Justin Wolfers, also speaking on the panel, agreed driving demand higher would cause prices to rise.

swrighteconomy JennieDuke Join the Australia Club

swrighteconomy JennieDuke Yes! Expect totally 'radical' because the Libs have been brimming with radically creative ideas since Menzies first got it into his head to drop his strides & tell the Poms 'Go for your life' (apologies to Jim McClelland). How many properties is Tim Wilson negatively gearing atm?

swrighteconomy JennieDuke Yes scrap or at least scale back negative gearing

swrighteconomy JennieDuke Without reading I get the feeling it would be another stuffup!

swrighteconomy JennieDuke Stop the free no stamp duty incentives for a start ,it actually causes steep rise in demand and steep rise in prices making that incentive futile. Better way is to give priority to bidders who don't own a house over investors.Investors can only buy leftovers.

swrighteconomy JennieDuke Probably directed at their aspirational Liberal base. More middle class welfare!

swrighteconomy JennieDuke The MPs all take a pay and give up their perks so we can spend our tax dollar better ?

swrighteconomy JennieDuke Time for more action less words as speculative gains via passive income pathway will demotivate youth and permanently shift coloured first generation migrants to lifelong ownership less tenancy.

swrighteconomy JennieDuke Scott Morrison needs to start taking this issue seriously. Alexander’s idea is worthwhile but the most obvious thing that could be done by the Federal Govt is similar to what Shorten proposed by limiting negative gearing to new housing.

swrighteconomy JennieDuke Anything Tim Wilson says is dangerous. He needs to join Labor

swrighteconomy JennieDuke The bank royal commission recommendation was to curb credit growth. What did the LNP do? Make credit/debt easier to achieve access.

swrighteconomy JennieDuke Wish property investors made their investment in affordable housing solutions ?

swrighteconomy JennieDuke If they really want to fix this: -Tighten credit money creation by banks e.g. lower loan/income multiples -Forward guidance/commitment to lower migration -Address income inequality issues by diversifying the economy -Reduce investor tax breaks -Develop 'missing middle' housing

swrighteconomy JennieDuke 2019 Election commitments. Looking over the fence for ideas.

swrighteconomy JennieDuke LNP work for global corporations, banks, the well off and foreign governments. Everything they do is to support those goals. I am 100% serious and i think a least 90% correct in saying this. LNP have proven they want banks to profit by having high property prices.

swrighteconomy JennieDuke Simple really - 1. Australian citizens and permanent residents 5years living in Australia allowed to buy ONE house and ONE apartment- one to live in, one to rent , 2. No gearing on residential housing. 3. No super fund investment in residential housing. A big reset! All housed.

swrighteconomy JennieDuke Reduce land costs. Done.

swrighteconomy JennieDuke All talks. No substance. Noises before election. Post election it will be business as usual.

swrighteconomy JennieDuke “Radical”? Seriously?

swrighteconomy JennieDuke raise interest rates and housing affordability will improve

swrighteconomy JennieDuke liberal MPs? Yeah no, not so all.

swrighteconomy JennieDuke I have heard rumours that they'll eventually increase migration intake.... Nothing creates unsustainable housing demand quite like that...

swrighteconomy JennieDuke They want your super to continue to subsidise an unsustainable market. Say no.

swrighteconomy JennieDuke The NSW intergenerational report says we need 42,000 new homes per year and we are nowhere near that. We need to build more homes, a lot more homes. Otherwise, prices will continue to rise regardless of what we do with Super or Stamp Duty.

swrighteconomy JennieDuke The land can't take more housing. I suggest you address the fact many homes sit empty or are used 8 weeks or so a year, for tax right off reasons. I rent and 3/4 of my weekly income goes on rent. How is that acceptable

swrighteconomy JennieDuke Just stop discounting tax on capital gains

swrighteconomy JennieDuke No grants 2 people who don't need them. End negative gearing & capital gains on multiple properties. Remove business taxbreaks on legal expenses, make workers comp & legal cases settle quicker. Put money into repairing & making new public/social housing, by all govts instead!!!

swrighteconomy JennieDuke All policy encourages typical Australian taking up debts to speculate instead of solving the supply issues. Dwelling is a basic human needs. Its price not rent should be a controlled market as part of inflation.

swrighteconomy JennieDuke A good old-fashioned systemic banking collapse would do the trick.. taxpayer’s footing a multi-hundred billion dollar bailout might temper their enthusiasm at auctions.

swrighteconomy JennieDuke Look over to Singapore and you know this is a total failure of three levels of government.

swrighteconomy JennieDuke I smells an election in the air.

swrighteconomy JennieDuke Build a fast train to Orange. Build a city the size of the Gold Coast on a few paddocks to recover the cost.

swrighteconomy JennieDuke Grow your rural communities where there is cheap housing & demand for labour. Rural industries must support this by paying a decent wage. Farms are like churches, they can swallow enormous amounts of $, which they do in preference to paying their workers.

swrighteconomy JennieDuke Stop with your obsession with raiding people’s superannuation Tim. Maybe change policies that encourage investors to buy many houses which pushes up prices & then pushes new home buyers out of the market. Or would that undermine the investment strategy of many parliamentarians?

swrighteconomy JennieDuke Cut taxes Cut immigration Only allow Australian citizens to purchase properties, not dual citizens. Release more land. Supply and demand. Big Australia is a failure.

swrighteconomy JennieDuke Hilarious. Wilson wants first home buyers to be able to tap into their superannuation for a deposit …. Which will drive up prices and kick some sand on over performing union super funds. How predictable.

swrighteconomy JennieDuke 2019 Labor went to the election with a plan to make housing affordable Liberal went to the election to support the millionaire property owners

swrighteconomy JennieDuke

swrighteconomy JennieDuke TimWilsonMP wants people to own a home so he can force you to use your kids inheritance to fund your pension

swrighteconomy JennieDuke I hope that’s not a tax on unrealised capital gains. You should only ever be taxed on what something is sold for.

swrighteconomy JennieDuke Without reading the article, and seeing Tim Wilson's photo, I'm assuming that it involves spending your super rather than address investor tax breaks that distorted the market. They love a super heated property market. They're just nervous about the next election.

swrighteconomy JennieDuke You can’t trust the Liberal’s Most are paid well for comment

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