So I was reading about what Turnbull had said to a reporter about helping his kids buy a house and fil was here defending him. And defending NG. All just supply and demand to him. NG needed to keep investors interested in property etc. And then I read this morning how scott Morrison says Grattan institute's prediction that labors plan for NG could slow housing growth by 2% and that could crash the economy!!
My reaction is wtf?!?!
We own our house (with the bank), I don't want house prices to dive so low that it crashes the economy but it feels so obvious that NG is distorting the housing market and making it nearly impossible for people to buy. My parents and in laws have such a different view to me. They see rising house prices as great. They really don't see any downsides as they own and their children own. But what benefit is it to house owners not planning to sell and downsize? It just benefits investors, no?? We are more stuck now that the apparent value of our house has increased as so have the other houses and stamp duty would to too high. It just seems so unfair that young couples / families are being forced to live further out from the city or even change States. And of course if things don't change my own kids will never be able to buy. Either rent or live with us forever!!
I guess I'm curious as to what other bubhubbers think?