The future of Australian property prices

[sptrawler]

There will be not limit..the more the better..more voters for labour, cheaper labor for the liberals

That is why they like open borders.

 

[Humid]

That should read, has not sold in 6 weeks,

How about
If it sold in 6 weeks what did you need a real estate agent for.
If you can manage your super through the mine fields you could flog a house.

 

[sptrawler]

How about
If it sold in 6 weeks what did you need a real estate agent for.
If you can manage your super through the mine fields you could flog a house.

In W.A people are very reluctant to buy privately, I have sold property privately, but usually to someone I knew who wanted it.

 

[sptrawler]

Looks like everyone is sitting back, with their feet up, waiting for Labor.

https://www.smh.com.au/politics/fed...r-fastest-rate-since-gfc-20190212-p50x8z.html

Oh well there might be a silver lining to the cloud, maybe a home back on the river and a part pension, allow for the worst hope for the best.

 

[Toyota Lexcen]

That's probably right. Could be good outcome for liberals.

There will be not limit..the more the better..more voters for labour, cheaper labor for the liberals

 

[moXJO]

Looks like everyone is sitting back, with their feet up, waiting for Labor.

Some truth in this. No one will be investing much until labor shows its hand.

On another note... I can't believe people are jumping and cheering get slugged with more taxes. If the taxes were well spent, I could understand. But Australian pollies are the biggest bunch of deadshits when it comes to wasting our dollars.
Not only that, but the money gets chewed up on paper pushers that add nothing substantial to the project.

 

[Ann]

Here is a good site for weekly Auction clearances around Australia...

Auction Results & Recent Sales
Australian auction results, clearance rates and recent sales for the week ending Sun 17 Feb 2019

 

[basilio]

Some truth in this. No one will be investing much until labor shows its hand.

On another note... I can't believe people are jumping and cheering get slugged with more taxes. If the taxes were well spent, I could understand. But Australian pollies are the biggest bunch of deadshits when it comes to wasting our dollars.
Not only that, but the money gets chewed up on paper pushers that add nothing substantial to the project.

It will be interesting to see what Labour proposes doing with any increase in tax revenue from it's proposals. Deciding ahead of the day that anything any government does is a waste of dollars or employ a bunch of pen pushers is, in my mind, unfair.

A few examples. Liberal governments have been cutting the public service for years and outsourcing programs that they have said can be more effectively provided by the private sector.

One of the really big winners of this has been the many Job Start private industries which take the unemployed and keep churning them into nothing while creating great wealth for their owners. The government pays out heaps but all that is really happening is creating a select umber of wealthy entrepreneurs.

The privatising of building inspectors, the dismantling of publicly held power companies, the commissioning of private companies to take care of refugees (pun intended) .
Don't tell me the private sector offers a better model of service delivery. It's just not true.


We need

 

[Junior]

It will be interesting to see what Labour proposes doing with any increase in tax revenue from it's proposals. Deciding ahead of the day that anything any government does is a waste of dollars or employ a bunch of pen pushers is, in my mind, unfair.

The difference this time, is that Labor are proposing changes which will see a big sugar hit of tax revenue flowing into their coffers, to spend as and where they see fit. I think many Aussies don't want to see a bigger Government and bigger welfare state than what we already have. This big hike in taxes at a time when the economy is already slowing and fragile, carries many risks.

 

[basilio]

The difference this time, is that Labor are proposing changes which will see a big sugar hit of tax revenue flowing into their coffers, to spend as and where they see fit. I think many Aussies don't want to see a bigger Government and bigger welfare state than what we already have. This big hike in taxes at a time when the economy is already slowing and fragile, carries many risks.

Again I think you are making assumptions about what Labour would do with any new tax revenue.
There is every chance they would propose changes to the tax system that benefit low and middle income earners. This would be be a redistribution of income amongst current tax payers.

I think a re examination of current outsourced (government paid ) Jop Start programs is well overdue. I wouldn't be surprised to see proposals for greater government intervention in energy infrastructure to support a renewable energy economy.

I think that business can be very two faced about the role of Big Government. When it comes to R & D support, big contracts from government for infrastructure building or taking over tasks once done by government they are all in. After all it is Government (tax payers..) money sent to them.

If on the other hand the Government decides they should do the job they scream . "Our hard earned money being wasted "

 

[sptrawler]

The difference this time, is that Labor are proposing changes which will see a big sugar hit of tax revenue flowing into their coffers, to spend as and where they see fit. I think many Aussies don't want to see a bigger Government and bigger welfare state than what we already have. This big hike in taxes at a time when the economy is already slowing and fragile, carries many risks.

The election campaign hasn't started in earnest yet, and the property prices in the two major markets are still in free fall, when the spectre of a massive price collapse with Labors changes is thrown into the mix anything can happen.
You never know, silly Billy, may well snatch the hand of defeat from the jaws of victory, he has never polled well on a personal level so it is becoming an interesting election.IMO

 

[basilio]

Back to the property market.

I think the market is certainly unraveling in Melb and Sydney. I wouldn't want to be holding investment properties and needing to refinance them.

I also understand that the banks do have a look at their portfolios and if they think particular clients loans don't have enough security they take steps to obtain further security to protect their investment. That means wanting extra collateral or pay downs of principal to ensure the loan isn't underwater. Has anyone come across this situation ?

 

[sptrawler]

Back to the property market.

I think the market is certainly unraveling in Melb and Sydney. I wouldn't want to be holding investment properties and needing to refinance them.

I also understand that the banks do have a look at their portfolios and if they think particular clients loans don't have enough security they take steps to obtain further security to protect their investment. That means wanting extra collateral or pay downs of principal to ensure the loan isn't underwater. Has anyone come across this situation ?

There was an article on that exactly issue, in last weekends AFR.
Also in W.A councils are repossessing houses due to delinquent rate arrears, which has made the news, I guess everyone is worried about getting their money as prices implode.

 

[qldfrog]

Such optimistic view, Basilio

There is every chance they would propose changes to the tax system that benefit low and middle income earners. This would be be a redistribution of income amongst current tax payers.

ROL
But please ping me when this happen, I will celebrate with you
And by the way
Why do you want a redistribution of income, fondamentally..i am all for, i stopped working.

 

[basilio]

Such optimistic view, Basilio

ROL
But please ping me when this happen, I will celebrate with you
And by the way
Why do you want a redistribution of income, fondamentally..i am all for, i stopped working.

Well we could always go the Liberal way ? You know BIG tax cuts for the hard working people making $180k plus funded by slashing Health education welfare and the ABC. But we have tried that havn't we and somehow the other 98% didn't think this too flash ..

I believe Labour will (have to) come up with some big picture proposals for this election. If they are going to be crucified for tackling top end rorts then they will have to come up with a compelling program to justify it to the rest of the population and show them the benefits. And that must be bigger than the welfare sector.

 

[Smurf1976]

I think a re examination of current outsourced (government paid ) Jop Start programs is well overdue.

I'd change that to:

"a re examination of current outsourced (government paid ) programs is well overdue"

There are some things which should sensibly be outsourced but there's a lot of money being wasted in this manner that's for sure.

 

[sptrawler]

Well we could always go the Liberal way ? You know BIG tax cuts for the hard working people making $180k plus funded by slashing Health education welfare and the ABC. But we have tried that havn't we and somehow the other 98% didn't think this too flash ..

I believe Labour will (have to) come up with some big picture proposals for this election. If they are going to be crucified for tackling top end rorts then they will have to come up with a compelling program to justify it to the rest of the population and show them the benefits. And that must be bigger than the welfare sector.

They can't give much more to the welfare sector.
It is already marginal, whether to work, or save for retirement.
What is it over 50% pay no effective tax, maybe 75/25% would be better.

 

[sptrawler]

Well the Reserve Bank is starting to get worried.

https://www.smh.com.au/business/the...conomy-says-reserve-bank-20190219-p50ys4.html

 

[Junior]

Well we could always go the Liberal way ? You know BIG tax cuts for the hard working people making $180k plus funded by slashing Health education welfare and the ABC. But we have tried that havn't we and somehow the other 98% didn't think this too flash ..

I believe Labour will (have to) come up with some big picture proposals for this election. If they are going to be crucified for tackling top end rorts then they will have to come up with a compelling program to justify it to the rest of the population and show them the benefits. And that must be bigger than the welfare sector.

A combination of the two would be appropriate. Bracket creep has been eating into middle & high incomes, some relief is required.

50% of Aussies don't pay any tax, so of course they'll be opposed to any cuts to income tax rates, because they don't pay income tax to begin with!

You can't keep slugging the wealthy over and over again without creating unintended consequences which affect all of us. Labor want to hit small business owners as well. These are the groups who create the majority of employment in this country.

 

[Smurf1976]

You can't keep slugging the wealthy over and over again without creating unintended consequences which affect all of us. Labor want to hit small business owners as well. These are the groups who create the majority of employment in this country.

There are two orders of wealth in this context are there not?

1. Investors with somewhere from a house + $100K of other assets through to a few $ million or small business owners.

2. Big corporations and a few individuals with serious wealth and their own lawyers and other employees who can and will find every possible way to avoid paying tax.

The latter are the ones causing any problems through their large scale, ongoing yet supposedly "unprofitable" business ventures which, since they are "unprofitable", don't pay much if any tax. And yet somehow they can afford to send $$$ to parent companies overseas and pay their local management team a few $ million each. But they're unprofitable of course. These are the ones who need to be targeted not the former.

If all those with reasonable wealth were paying tax then there would be no need to even consider increasing the rate. Increasing the rate just hits those already doing more than most.