Greens Threaten To Block 'Help To Buy' Housing Scheme

No video

Greens Threaten To Block 'Help To Buy' Housing Scheme

Рет қаралды 3,454

Күн бұрын

The Greens are threatening to block the government's 'Help to Buy' housing scheme to try and force Labor to wind back negative gearing and capital gains tax.
Greens Housing spokesperson Max Chandler-Mather explains.
#Auspol #Politics #HousingCrisis

Пікірлер: 64

@SkyHeights-pc3hj 6 ай бұрын

Labor is doing everything they can to hurt renters. Max Chandler is again spot on.

@--Nath-- 6 ай бұрын

Albo doesnt like that Max has ethics and values, that's why he goes on name calling when questions get asked in parliament. That and he's a landlord wanting to protect his profits and the Greens are right: something needs to change and Lib/Lab/Nats are solely thinking of their own investment portfolio.

@Inflammasomes 6 ай бұрын

Max has ethics but his dismissal of the impact of excessive migration is very frustrating. It has a much larger impact than negative gearing.

@jashmatash 6 ай бұрын

You go ad hominem when you have nothing. Albo knows he should know better than pushing wet lettuce housing policy...Given he grew up in social housing.

@--Nath-- 6 ай бұрын

@seanbarton2693 yeah, record high migration is definitely a factor.. but as we saw in covid times with no migration: thanks to tax rorts, the prices STILL went up. So yeah, it is an issue and contributing, but even without it: there are land hoarders out there hoovering up properties thanks to tax minimisation available.

@--Nath-- 6 ай бұрын

@@jashmatash Albo's pulling up the ladder after himself.. And refusing to care about renters because his profits depend on the status quo shows he's yet another person that should never have been in politics.

@Inflammasomes 6 ай бұрын

@@--Nath-- Yes prices did go up, but the governement stimulus packages and massive reduction in interest rates (they went from like 3% to 0.1%) and a fearful selling market drove that increase. Had the government maintained the closed borders as the cash rate was racheted up and stimulus packages unwound prices would have fallen ( rents had actually decreased when the borders were closed) as the rent wouldn't be enough to help investors service their loans and they would have to sell. Negative gearing is a rort, but its impact is overstated. The UK still has massive crisis like Aus and they don't have negative gearing - its about excessive migration. Labor doesn't really want to tackle the real cause of this issue and the Greens want to ignore it as well for some reason.

@Tharasamrav 6 ай бұрын

How good is Max

@mistersmacky 6 ай бұрын

Absolutely clueless if he thinks adding 500,000 people into a housing market that is already tight is only a minor issue.

@LauraMoyaLocalMortgageBroker 6 ай бұрын

Negative gearing. The elephant in the room

@coffeehouse44 6 ай бұрын

Drop Negative gear and enjoy the big rent increases to cover that expense. People with money will adapt and keep making money in other asset classes. The financially illiterate will keep being poor, always has and always will be.

@zen1647 6 ай бұрын

My understanding is that negative gearing applies to all forms of investment like stocks, bonds, cattle, art.... not just property.

@fattlane1866 6 ай бұрын

@@coffeehouse44*Illiterate, maybe?

@coffeehouse44 6 ай бұрын

Pretty sure they are only targeting property investor at the moment who use NG

@ToddJHammond 6 ай бұрын

@@coffeehouse44 And that's why you put caps on rental increases. Not all landlords own their investments on a mortgage some own them outright so only those with mortgage would try to increase. If they can't increase they would sell then resulting in many more houses on the market to buy driving down prices due to large increased supply and if investors are less inclined to buy it means more of the buyers would be owner occupiers. I don't see the negative in this.

@benjamingriswold2564 6 ай бұрын

You are a fool if you let the government own part of your home

@azsawild8231 3 ай бұрын

They already do lol they always will....

@HazyHerbivore 6 ай бұрын

This hyper fixation on immigration sounds like such a dog whistle and props to max for swatting it down. Yes sure, supply and demand immigration has an effect, but it is still a distraction from the fact that pur tax system incentivses pricing going up and up far more than (frankly necessary) immigration ever will

@JamielDeAbrew 6 ай бұрын

You’re right. Still, Australian’s need to know the cost of cutting immigration. They need to know that Australia’s economic system relies on never ending population growth. Then Australian’s can decide if they prefer: * immigration * massively cutting government spending * massively increasing government tax revenue * increasing government debt levels (and putting upward pressure on inflation). This may even lead to more people supporting the Greens plans for increased government taxation.

@JCASTELLINO007 6 ай бұрын

If you make it harder for investors to claim back losses, they pass those losses onto renters in the form of higher rents. Yes there should be a cap on the amount of properties which can claim negative gearing, but I think what's being proposed by the Greens won't get the outcome which they're hoping for (cheaper rent)

@HazyHerbivore 6 ай бұрын

Which is why the greens also want a ✨rent freeze✨ so they can't do that. It's not a problem like you're suggesting

@colinabell3672 6 ай бұрын

House prices are not determined by negative gearing they are determined by demand. And the more people they keep bringing intothe country the more houses are needed

@JamielDeAbrew 6 ай бұрын

They are influenced by both. Negative gearing means additional people bidding at auctions that wouldn’t otherwise be bidding. This additional demand of buyers pushes up prices. Negative gearers can claim the interest on a their bank loan on tax, so they can afford to bid more. Additionally, bidding up the price of land does little to improve productivity. Investing elsewhere does much more. Australian productivity growth has been slow for the last couple of decades.

@lilymatthews2966 6 ай бұрын

I thought journalists weren’t meant to be bias? Pretty sure all of them on the panel own properties from their lucrative channel ten jobs

@JamielDeAbrew 6 ай бұрын

They played the cards they were dealt. I don’t mind if they are negatively gearing investments. But… They should be required to disclose the information and be transparent.

@turbyoulance 6 ай бұрын

Go Max

@konanninja 3 ай бұрын

My rent is keep increasing. I have no money left at the end of the week. Max seems support the renters and I'll go for The Greens on the next election because I don't think I'll get ahead of life with Labor.

@sia.b6184 6 ай бұрын

I think max is right but the negative gearing and consessions can not work in isolation. if max does wants to push the removal of negative gearing + capital gains tax consessions and he wants it to have a real affect there needs to be a removal of foreign ownership. This is simply because when the majority of Australians buy property they usually aren't cashed up. They have equity in a previous property and use the bank for the remaining, hence negative gearing will affect the aussie buyers, however, it wont affect the foreign buyers who buy up in cash, so foreign ownership somehow needs to be limited but I can see this as a huge can of worms since foreigners can still buy via proxy etc2. It sounds easy in theory but I think it will be hard in reality. The other part that I see is, people always refer to negative gearing as the "elephant in the room" or the "single most important tax" that will fix housing. Negative gearing was never supposed to be used for housing, this became and Australian thing. The original goal for negative gearing was more to support people starting businesses being a sole trader and able to offset their losses as they started a business, but somehow people used this as a loophole and regarded their interest payments for their investment properties as an expense and reduced their taxable income, hence the cycle of using negative gearing for housing was born. I think its important to understand that negative gearing can't just be outright abolished, there needs to be an adjustment to it but not the removal since there are other assets that people can own like shares (in their own businesses) , sole traders , who actually legitimately use their salaries to start or build businesses who aim to build productivity and employ people who should be able to negatively gear. I guess a good start was shortens policy of allowing negative gearing on newer properties or maybe on first property but not second. Its a complex issue but its the pollys job to sort this out, country is blowing up and they need to do something about it ASAP.

@JamielDeAbrew 6 ай бұрын

Great points… With foreign ownership and investment the question is … do we want to stop it completely or limit it to new properties. Either way an ultra expensive national empty property tax will prevent places from sitting empty. Maybe stopping foreign ownership and then limiting negative gearing to new properties is the solution. Then investment is taken away from new properties but also replaced. An empty property tax would still be needed to prevent negative gearers creating too many properties. We’re seen this wasteful oversupply in China. It wastes land, labour, materials and invest dollars. Even if negative gearing was removed from all types of investment, it wouldn’t matter. The RBA will keep Australia’s inflation levels above 2%. So Australia’s will either invest their money or spend their money. And if they spend their money, it trickles to investors. Then the investors profit incentivises others to become investors

@user-jb4ei8hi7n 6 ай бұрын

The project is brain cancer

@jasonwalker2950 6 ай бұрын

Cut Immigration, Ban foreign ownership and get rid of negative gearing. The Greens only want to talk about number 3 and not 1 and 2. All are the issues.