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OT: Current Affairs and Politics

Twizzle

Twizzle

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So about 300K per house, so either towers or huts if you allow for land cost as well.

Good idea and a good initiative, but it will blow out to double that in the current climate.

At least he is trying something but this sounds ambitious to me.
 
Gronk

Gronk

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77,703
Twizzle said:

So about 300K per house, so either towers or huts if you allow for land cost as well.

Good idea and a good initiative, but it will blow out to double that in the current climate.

At least he is trying something but this sounds ambitious to me.
Click to expand...

Second reading speech, Housing Australia Future Fund Bill 2023 | Treasury Ministers

Today marks a turning point. With the Bills I introduce today, this government is turning the page on a wasted decade of national housing policy in Australia. A decade of dithering; A decade of delay; A decade of failing to address Australia’s housing affordability challenges.
ministers.treasury.gov.au ministers.treasury.gov.au
 
Gronk

Gronk

Moderator
Staff member
Messages
77,703
Twizzle said:

So about 300K per house, so either towers or huts if you allow for land cost as well.

Good idea and a good initiative, but it will blow out to double that in the current climate.

At least he is trying something but this sounds ambitious to me.
Click to expand...
Not quite right. The ministers speech is more measured than the headline. ^^^
 
hindy111

hindy111

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84 Baby said:
I do think somewhat a system where PPOR tax deductions are allowed but investment property tax deductions disallowed would even things out a lot.

*says the person who already has positively geared properties*
Click to expand...

Analed by small debt.

A lot of us on here are older and got in the market at a better time.. How are the younger ones starting out meant to afford a house. Really you need a min of 800k to have a small 3 bed in Western Sydney. Even if had a 100k deposit amd a 700k loan the repayments would be around $1,000 a week. Throw in water,rates,insurances,electricity and that's $1,100. It basicaly says unless your a couple you won't ever own a home.
Or if end up dovirced your basicaly stuffed. It is a very sad reality I feel.
 
84 Baby

84 Baby

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29,745
hindy111 said:
Analed by small debt.
Click to expand...
In my situation with swapping the deductibility, I’m better off with a small debt. My deductions are minimal as it is. And I could certainly structure it that I can maximise my home costs. My disclaimer was that people who are already in the market could still be advantaged by the change but it should also lift more people into the market.
hindy111 said:
A lot of us on here are older and got in the market at a better time.. How are the younger ones starting out meant to afford a house. Really you need a min of 800k to have a small 3 bed in Western Sydney. Even if had a 100k deposit amd a 700k loan the repayments would be around $1,000 a week. Throw in water,rates,insurances,electricity and that's $1,100. It basicaly says unless your a couple you won't ever own a home.
Or if end up dovirced your basicaly stuffed. It is a very sad reality I feel.
Click to expand...
I started out by buying a home with multiple people and we all lived there together. Was it comfortable? Not always, but it was a big step to where I am now. And only a couple of us had assistance via inheritance. My parents input was writing off about $5k I owed them.
When my kids get to that stage, I’ll encourage them to do the same.

But anyway making home expenses deductible and investments not makes property an evener playing field possibly.
 
hindy111

hindy111

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84 Baby said:
In my situation with swapping the deductibility, I’m better off with a small debt. My deductions are minimal as it is. And I could certainly structure it that I can maximise my home costs. My disclaimer was that people who are already in the market could still be advantaged by the change but it should also lift more people into the market.

I started out by buying a home with multiple people and we all lived there together. Was it comfortable? Not always, but it was a big step to where I am now. And only a couple of us had assistance via inheritance. My parents input was writing off about $5k I owed them.
When my kids get to that stage, I’ll encourage them to do the same.

But anyway making home expenses deductible and investments not makes property an evener playing field possibly.
Click to expand...

How old are you if don't mind me asking?
And good on you for getting there. I was also lucky. My parents and co workers talked me into buying a property when I was 21/22. It was fairly cheap. Paid off and sold then re purchased a better place.I'm 42 now. Its a different story but for people who didn't do this and got to mid 30s trying to get into he market.
 
84 Baby

84 Baby

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29,745
hindy111 said:
How old are you if don't mind me asking?
And good on you for getting there. I was also lucky. My parents and co workers talked me into buying a property when I was 21/22. It was fairly cheap. Paid off and sold then re purchased a better place.I'm 42 now. Its a different story but for people who didn't do this and got to mid 30s trying to get into he market.
Click to expand...
I’m 84…
 
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