I sense that the mates at the Bink have really lost their lust and internal drive for punishing the savsters.
Their actions are now taking on a character of being robotic, rather than really driven and willed
I feel that its more of caving to peer pressure and going along to get along, not done with any pleasure or any relish. Just because their global Bink buddies be like:
and they want to fit and are loath to appear as soft-cocked as they actually are.
What’s your call peachy ?
I’ll go with 0.5% because Lowey seems like a dull cunt
50bips or else be seen as doing something unFOMC…and what are the chances of that?
did hear that FOMC will be going 0.75
and a corresponding rumour that RBA will also be preemptively going 0.75
but im not sure lowe has the testicles
If it was based on his testes, the it would be -0.75, however I think that he is stuck and being forced into this one so will wimp out at 0.25
there aren’t any voices around the table that want to do 75bps.
only question is whether we’ll feel we have to. But I don’t think there’s enough of that. Exchange rate is holding up fine, and all.
0.75 eh?
https://www.greaterfool.ca/
Fucken fuck!
what the hell are those nucks doing?!
Being a great test dummy for the RBA to see what happens as they are 4+ months ahead of the RBAs tightening cycle
Yes, this is true 90kwB. Between the NZ and Canadian examples, RBEZFKA will have a chance to work out with good precision where the breaking point is.
and back off.
“….a chance to work out with good precision where the breaking point is.”
and then [drum roll] completely F U C K I T U P
I’m not sure what will happen, but this is the most exciting day of the year for me. I dress up nice with the fascinator, put the wireless on, have a nice glass of sherry and take it all in.
It’s the Rate that stops the Nation!
Then again, might go (drunk) down to the local Commbink Branch for the 2pm call. I’ll yell “Go Lowey!!, carn son! Go goson!”at the terrified staff as the call comes in, then I’ll ask about applying for another mortgage.
Get in son
0.4 to be seen to be listening to feedback but still raising rates materially, and takes us to a nice 2.25
Yes, between 0.4 and 0.75, I judge 0.4 is more likely.
Setting the cash rate at an OCD multiple of 0.25% would be controversial.
If it ends up being 0.4% then 100% you are on the RBA board.
offtopic, but lol…
whens the call
2:30 today
This is very good
https://twitter.com/RBASHAGGER/status/1566935233244844032?s=20&t=EUzBe-BYXF1uTilYNEaSXQ
It will be 0.5% because that’s become the equivalent of keeping them on hold.
0.5% it is
In their statement they mentioned inflation not expected to return to normal until 2024. Many economists believe rate rises will stop later this year, but will RBA really have the balls to sit on their hands for over a year with inflation above target?
think they’re just trying to follow what they think the US will do
They’ve gotten inflation predictions wrong at every single stage for the last 10 years – first overestimating, then underestimating, now probably overestimating again (MB has a good chart of this)
So you can completely ignore
They sat on their hands for years with inflation below target…
Huzzah! just now googling what negative gearing is. Everyone’s doing it and I want in.
what is amazing is that we are basically back at 2013 interest rate levels
How much have house prices gone up since 2013? They’ve doubled right
How much have wages gone up since then? Maybe like 10-20%?
So there is a big valuation gap there – would prices have to fall about 40% to take us to the same relative value level
I think there have to be wage increases (or tax decreases) to keep the balls in the air at this point
thats right, mate, which is why I keep telling youse that interest rates will do their thing.
other stuff is in play too, such as:
but these “other” factors move much more slowly than interest rates… which means, as I keep saying, we should expect interest rates to deflate valuations.
Of course it will make a dent but the moment that dent grows they will hit the reverse gear, or something unprecedented wicked and twisted
That’s the most likely outcome. As it has been every other rate rise cycle since inflation targeting started.
https://www.dailymail.co.uk/news/article-11187465/Anthony-Albanese-doubles-money-modest-Canberra-crash-pad-bought-MP.html
albo has sold up
Or they could bring in one million migrants … oh wait, how convenient there is a backlog of one million visas to process
are you really sure migrants affect house prices?
We just had the sharpest rise in history with NOM at 0
Think you’ve been reading too much MB
migrants also push wages down, which makes prices lower not higher
We have some of the lowest vacancy rates on record. What will happen when you increase the population by 4% in a year. Rents are already going up 10% per year.
When the NOM was 0, we swapped Uber eats delivery drivers for wealthy expats coming home.
Yes, I have looked EmBee, but only for the sheer stupidity of not increasing teh rates. It is like they have some sort of side hustle.
https://digitalfinanceanalytics.com/blog/the-one-million-vacant-homes-question/
1mil vacant homes, apparently
If MN is correct, and he probably is, that is covered by just introducing the luxury tax on vacant homes. Now that the rents have gone the Aussie way (to the moon and beyond), no excuse not to bring vacan properties to the market.
They are never bringing in a luxury tax on vacant homes…
Not in any reasonable timeframe anyway.
Just had an interesting convo with a mate. His house is on Airbnb, and 2 days booked per week cover his weekly P&I. That is during the “slow”season. During the peak season daily rate doubles – think holidays. Yes, there are costs of cleaning, etc, so 3 days per week occupancy during the slow season does the trick.
With income potential like that, there is no incentive to bring vacant properties to the market.
This is the way.
https://www.theguardian.com/australia-news/2022/sep/07/tenants-angered-as-brisbane-building-owner-seeks-to-turn-all-units-into-airbnb-accommodation
One should wonder when dafaq is hotel/motel industry going to complain that taxes and rates and other shyte they pay is going to be abolished as obviously is the case for ‘disruptive’ industries.
Anecdata. Property opposite me on 1 acre, nice house in bumfuck nowhere is airbnb maybe two nights every month.
Empty otherwise
As Ramjet said, there’s a backlog of 900,000 visas to be processed plus the 300k whatever ‘skilled workers’ for this year. Rentals are hard to get and Xpensive, so for me this is bullish Aus housing.
That’s fucking hilarious!!!
I would propose those rises were attributed to parked company profits and certainly in the case of bogan central Brisbane , Mexican migrants.
With a decreasing population do you really think prices would rise , the stagmagration was temporary all the savvy cunts like that chap reusa knows this.
Once you got the option of renting to 6-8 jimmies to a 3bed house who need locals. That’s the new price floor.
well, it did
There were other demand factors like WFH reducing occupants per household, moratoriums on rental evictions and mortgage defaults, etc.
Yeah but coming can only deal with one factor at a time. Trying to explain multiple interdependent causes to him is like teaching algebra to a pig…
The population did not decrease. Immigration fell. And that was always known as temporary.
It fell in melbourne and sydney, what happened to the prices there?
but the proceeds from sale of their o/s properties make it a nice start to buy local RE and pay just any amount because the property only goes up in Australia.
Standard variable rate will be slightly higher than 2013 after latest rise.
Stage 3 income tax cuts are/were surely about exactly this
this is why Jimmy is so quick to defend them.
OT
https://t.me/dannysearle1/3165
when a satellite image decides your fate.
https://t.me/rtnews/29094
gross misconduct
remember this phrase as it is set to become the long arm of the neespeak and tyranny of the Karen’s and their masters.
Everything will become gross misconduct as political agenda becomes a reasonable instruction.
I n a country where “reasonable” is enshrined in every rule and regulation, this is on nitrile fertile grounds and plenty a water (to use agri terminology).
failure to take a jab based on reasonable instruction to take one was the unFairWork’s long arm against the people with some brain and choice in life whom refused to participate the biggest pharmaceutical trial since the Guatemala Syphilis experiment.
Peachy I do hope it was me that put you on to Steel Panther.
If not, well discovered. They are great songwriters.
Anyway have a look at Satchel, he is without doubt one of the best guitarists in the world, and by extension, the rest of the band is seriously good. He put the band together I think.
And they are very funny cunts. Satchel interviews for guitar magazines are generally pretty funny. He owes slash a blow job.
i think it was you, so full credit for that. 👏👏👏👏👏👏
agree that those blokes are good songwriters and also they obviously really really love women. Like in a proper red blooded manly way. Not in a faggy lispy way.
I am not so keen to know much about them. Often knowing about the people behind the music can ruin the music. Or at least taint it.
Faggy lispy – I’m so going to drop that phrase in convo
It’s just how dedicated he is as a musician, and how he came from the same group of insanely talented guitarists coming out of one school.
Sounds like you might owe him a blownjob, too 😘
ok now that’s done and dusted, where to from here? What’s your predictions for the terminal rate
The 2 year has settled at about 3.0%, didn’t really budge after yesterday’s decision
So I reckon that’s where the overnight rate is going to finish or around about
Maybe we get one or two more rate rises in the 0.25 – 0.5% range
Oil might have already rolled over
Wage rises never really eventuated
Alternately, we are already in an inflationary loop as IOR and ever increasing government deficits (“inflation relief spending” and interest payments) have the opposite effect from what is intended
This is the conspiratorial position, a plan that they had all along to inflate away existing debt
I think the safest vantage point is the one from where every single action is taken to protect the RE oligarchy and even when it looks as it does the opposite it serves the greater purpose for the same.
OCR will go just enough to increase the price of everything but short of avalanche in defaults of the savvy investors. This is a very fluid spot and it changes dynamically. Predictions are possible only once we end up someplace and it becomes obvious rise in OCR has reached its goal.
If we are lucky, the OCR will not matter as the external factors will render any protection of RE useless.
Victoria is an absolutely hilarious clown show
https://www.dailymail.co.uk/news/article-11187223/Dan-Andrews-defends-Ambulance-Victoria-diversity-officers-damning-triple-0-report.html
Spends $760,000 a year on diversity and inclusion officers, while triple 0 calls went unanswered and there were no ambos anyway
He’ll still win the election though which is the funniest part
Absolutely the dumbest cunts in the whole country living in that state
Who gets these types of jobs? It’s a valid career path for gender studies graduates I guess
It just goes to show that the Arts students are doing far better than STEM. Take STEM.
Science: few jobs in EZFKA and most dedicated people move abroad
Technology: bug pusher MCB imports all of his slaves for Atlassian
Engineering: half of the graduates are not employed
Mathematics: most companies outsource analytics to consultants
Look where the jobs are: social media teams, comms teams, public relations teams. All requiring Arts students. Why do the hard slog at uni to do stem when you get a well paid job as part of Chairman Dan’s social media team.
The US’s Artemis project, which was launched with great fanfare with the specific goal of placing a black man and a woman on the moon (as though that were an equally important goal as getting there in the first place) had collapsed with no new date of delivery.
The project was apparently budgeted for $8bn and so far it has blown through $32bn with nothing to show for it. It was also launched and built around the concept of ‘Diversity’ with specific roles and responsibilities reserved for affirmative action placements…. apparently every single appointment under the basis of diversity over merit have been significant contributors to the projects failure.
Which brings me back to a comment I made the other day
The future is not going to be the Futureland that Anglo-America dreamed of in the 50s and 60s. Think more Steven Spielberg’s (unsurprising) vision in ‘Ready Player One’, only there will be more violence and the tech (and drinking water) will be failing.
its interesting, because white people have really fucked around with evolution (foreign aid, affirmative action, welfare state etc)
Its going to have disastrous consequences isn’t it
We’re in the process of de-evolution
It does seem they love that wingnut freak down there.
lol…
Series hybrid…
I was baffled by the blindsided push to go bEV and everything battery as if these miraculously charge themselves…
Ciu bono?
This morning whilst ‘banking’ in my ‘en-suite teller office’ (making a deposit), it came to me that perhaps it is the oil industry that is fuelling the bEV way as a dead end to ensure oil dependency for foreseeable future. You know, until we learn the hard way that professing a benefit is not the same as actually having one.
bEV make sense to a point with nu-clear but then the plateau is low, batt supply is limited and nu-clear has been chain reacted to oblivion.
Have a Tesla whilst having an aircon 24/7 cool/heat a place with zero thermal insulation…
Time to bring in those stickers for my big engine cars “I identify as a Tesla”
that would be such a brilliant conspiracy!
but based on my acquaintance with senior peoples at the oil majors – they are just not that super-evil-cunning-genius-smart.
at least the big publicly traded concerns.
the saudis may perhaps be nuts enough to conceive and then try a gambit like that.
Having spent many years working with said “…not that super-evil-cunning-genius-smart” people, I concur with that statement.
I would also add that such a conspiracy would represent a rather long and convoluted way of eventually making more money.
The subject people, and the industry in which they function, subscribe to the idea that the shortest distance between them and more money is a straight line.
I tend to agree with this line of thinking. Back in the day the push by oil companies to buy up and close public trams, etc. made sense. EVs don’t.
EVs do make sense in nuke, hydro or thermal generation countries. Coal and oil not so much.
I do not connect bEV to the power source as the key driver for them.
The Eco Nazism is heavily invested into pollution at the user end and it is prepared to overlook central power generation from oil as long as the pollution from the cars ends.
No one benefits from mass adoption of a system that cannot work on a grand scale (bEV) and yet the opposition to any alternatives is dumped without contemplation.
Imagine if Betamax was made compulsory video recording system irrespective of the benefits of the VHS, calling those that suggest digitalisation a loony squad.
I disagree with this, but not for “climate change” reasons
Cleaner air in our cities would be an amazing thing
An even bigger improvement than the phasing out of leaded petrol (which had big impacts on IQ and health)
Also the reduction in noise pollution
Absolutely ICE should be phased out either for hydrogen or electric
That is a lofty goal. Peace on Earth and good will to all.
However, the technology isn’t there to make this happen:
Like I said, it is a lofty goal. Not that I wouldn’t love to have a “clean” car, but the technology is just not there.
There are better solutions like permanent WFH and investment in public transportation. Problem is that there is generally no money to be made out of this (except for incompetent operators like Metro Trains Melbourne), so like all other environmental things we’ll do the way that makes hardly any difference to the environment.
that’s a very long non-sequituur mark
Your original premise was that its not worthwhile as all the power comes from oil anyway
I’m simply stating I don’t want car emissions around me
Don’t care about the aggregate level of carbon in the atmosphere
The easiest path would be to make sure that the poors can’t afford cars, which is exactly what they are doing, and which I applaud
I was responding to those statements. While you consider emissions bad around you, it is not easily achieved.
I suggest you visit SE Asia to see what happens when the poors can’t afford cars. There will be mopeds everywhere and chaos!
it is achievable though
just need to put a tax on “carbon”
Which is exactly what they are doing
Coming,
And here it is.
Introduction of a superior technology does not (and should not) require punitive taxation to coerce people into submitting. It will be accepted by the wider market by itself, it it truly does offer benefits over existing technology.
Aussie Soy Boy,
I don’t think this is a valid comparison. Smartphones offer multiple advantages over stationary phones – no need to carry a calling card / change when not home, ability to take a number of devices all rolled into a single box that fits in your phone, etc. bEV and hydro cars do not offer advantages over ICE – just the opposite: higher cost, longer to fill up, lack of charging stations, limited range.
Again, I am all for it if the technology catches up. Until then, it is non-competitive.
not sure what your point is
It’s a punitive measure to force people to
-spend more money
-reduce their quality of life
irrelevant what is “superior”
how will you feel when “the poors” has been expanded to include you as well?
The same people who got their panties in a bunch about smartphones, are the same people who are offended by the idea of an electric car.
Everything about them is better if you exclude any kind of supposed environmental benefit (if anyone really cared they’d buy a lightweight bicycle and download the train timetable).
At this point every new car sold should be at least a hybrid. Someone wants a diesel commercial vehicle they should have to apply for a special permit, have a GPS fitted and justify their kilometres.
By the end of the decade no-one will buy a new ICE.
no new ICE for me because I won’t be able to, so the old banger isn’t retiring then
If everything about them was better people would already be buying them. Thats how a market works.
You’ll notice the adoption of smartphones is somewhat high…
And the same people who get excited by every new “thing” are the ones getting excited about the idea of an electric car….to hell with the practicalities, it’s the new thing, so it must be good.
As for “By the end of the decade no-one will buy a new ICE”….that’s going straight onto my list of “famous last words”.
anecdata … I bought an eLawnmower….
Don’t park it in the garage….I hear tell that they have a tendency to self-combust. 🙂
oooeerr…. removable batteries thankfully
There is much more to oil than drillers and Saudis and it is not quite a conspiracy but rather steering the blindfolded idiot in the direction of the cliff.
what I mean is that bEV way is a guaranteed way that oil will be needed until the last drop of oil is extracted, unlike other options.
anyway latrinal wisdom is not flawless.
Oil is used for more than just energy. All the oil will be used one way or another. All that plastic doesn’t just grow on trees.
This graphic is to supplement MR coal’s comment above….put it as a reply to T to get some extra room for the graphic 🙂
https://www.visualcapitalist.com/can-made-one-barrel-oil/
Fantastic graphic! Wonder what came be made out of one barrel (equivalent) of coal or gas or solar or wind…..
Although I know what can potentially be made out of one barrel of Tesla. A fire!
Can’t make the plastic out of solar or wind…
or the tar, or the paint thinners…
lol…
Well done EU on paying ukro-nazi’s to piss of the russians!
Was chatting to someone this morning who was over in Europe over summer. He said Europe is screwed. Most working class support an end to the war.
Unless they are planning on invading the ukraine to stop it they don’t have a lot of say…
Large protests in Europe which is probably all they can do at the moment
perhaps this is the end game of the Big P?
The attrition of the EU (that is the Euro Utopia)?
He could take the Clown and The Circus state within months and yet he is just inching whilst EU is drowning in its own vomit.
something like it yeah..
make the membership of nato screamingly unpalatable
and cop a nice roman candle down the chimney in the bundestag
Get yourself a house you can afford, pay it off, and then you never have to worry about interest rates again.
Where do you find one of those anywhere near jobs? And does it come with a unicorn in the back yard?
Lol! There is no back yard!
You can even park your unicorn on the street as there is an increasing trend of not requiring garages for 1 bedders
Perth
Robert I’d love to read a write-up by yourself on the virtues of greater Perth.
I am familiar enough with Freo and surrounds, and Margs also – to the point that I’m convinced that it’s, on the whole, by far best that Straya has to offer.
However, convincing myself and better-half (and all offspring) to move there has some challenges. That said, some of the family do live there now… so some additional pull-factor does exist.
Wish me luck…
Perth does have better house prices, but they too are creeping up. Median is circa 550K now, and one has to drive a fair bit to get to CBD where bulk of the high paid work is.
Don’t get me wrong, I love the city, it has some great areas and some up and coming suburbs. Did I mention gas reservation for domestic consumption?
It has its own problems though – homeless in the CBD have increased, crime too, thank you Baz, drugs. Plus McGowan is now wanting to import skilled and students, as everywhere in the country. And yeah, the city is pretty far away from everything. Holiday in WA is so expensive thanks to lockdowns, Marg’s and anything down south is stupid prices. And being a mining town, the economy is boom and bust, so all depends on your line of work.
Insight appreciated GM – thanks.
You can still buy a house in Perth metro for <$300k. Freo is great but $$$. Better off staying over east if you want to spend that kind of money IMO.
Thx Robert. Wanna leave the east! Genuinely keen to hear your thoughts on good bang-for-buck in Perth (from CBD southwards)
jobs…mmm
A brutally buff and handsome maori was sitting in the beer garden at little creatures brewery in freo, waiting for the crew to turn up for the super rugby telecast.
the diminutive barman,being somewhat gay, was struck by the looks of this greek god and after several minutes of agonising indecision approaches the moari and blurts out
‘ would you like a head job?’
whereupon all hell breaks loose as the maori kicks and punches the daylights out of the poor little barman.
The crew turns up and sees the commotion and drags the the little man away before he’s killed, and one of them asked the big feller
‘geeze what did he do to you mate, to upset you so much?’
and the big boy says ‘didn’t hear exactly but that little white cunt come over here talking about some fucking job! fuck him!’
those jobs you’re looking for might need to be blue collar stuff
I’m not looking for a job, but house prices and job availability and pay in the same areas tend to be fairly highly correlated.
Someone without the restrictions of employment can find a cheap house fairly easily.
This is the way.
Shut up Boomer.
One for you LSWCHP or maybe Peachy too:
https://twitter.com/_TheFigen/status/1566352133468962816
I first saw this clip years ago – it was mesmerizing then and it remains mesmerizing now. (I’ve watched it twice with sound just typing this comment.)
Perhaps the greatest humiliation of ‘how it should be done’ I have ever seen for a crime that as best I can make out was the slightest underperformance of enthusiasm for providing a gun for inspection.
Sped up visual, would look ordinary in real time.
No…that’s the changing of the guard at the US tomb of the unknown soldier. That inspection drill is performed at each guard changing.
The tomb of the unknown soldier is guarded 24/7/365 in all weathers by members of the US 3rd infantry regiment. Its considered a great honour to be admitted to the guard.
They take it very very very seriously. There’s several videos on the tube of dickheads behaving disrespectfully at the tomb. The guards go to port arms, and will even cock their weapons, and bellow commands at the punters if they talk too loudly.
For example…
https://youtu.be/iO73ol_ACbU
When the history books are written, the period 2019-2022 in Australian politics will make for some interesting reading.
Albanese government scraps funding for Governor-General-backed foundation
https://www.abc.net.au/news/2022-09-07/albanese-government-scraps-funding-for-gg-backed-foundation/101416170
WTAF…? Scomo was a straight up deadshit, but that is next level scamming.
Albo has form with being invoked with groups that defraud though.
Down in the smoking ruins once known ad Victoria, in 2009 Albanese as Infrastructure Minister decided it would be a good idea to hand $8m of taxpayers money to Dan Andrews then a jug eared junior Minister for Health to start Community Chef (no one has ever questioned how this could be construed as Infrastructure investment). It set up a government funded business to provide food/meals to hospitals and aged care homes, despite I Cook Foods and others privately operating in that sector.
Naturally with all his corporate experience, Dan Andrews’ Community Chef (JV owned by various Melbourne Councils, including Dandenong which had 10%) had pissed through another $3m in taxpayer subsidies despite really having only one competitor in the sector and being directly connected with Council contracts on the buying end, and was $7m in the red by 2019. Andrews had even changed the Health Act in Victoria to allow Councils be the only body in Australia who were legally allowed to keep the fines they levied (by their health inspectors).
Andrews got bored of smoking millions of taxpayer dollars and sold the business to Dandenong Council for $1 in 2020, more than $800,000 disappeared from its accounts in the sale. Dandenong Council CEO John Bennie was also on the Board of Community Chef, and is a major figure in all the dodginess.
In Feb 2021, Acting Chief Health Officer Brett Sutton shut down I Cook Foods and named them as being directly to blame for the death of a 35kg 85 year old hospital patient, supposedly dying after eating an I Cook Foods sandwich. Sutton had done so despite having no evidence of this, in fact an email stating that I Cook Foods had not supplied food to the hospital. Sutton did so after meeting with John Bennie on the matter. Despite the conflict and before Sutton had made his announcement, Bennie began contacting all I Cook Foods clients to advise them of the closure and charges. Sutton later lied in the first Parliamentary Enquiry and requested to ‘correct’ his evidence at the second.
Not long after the closure, a Dandenong Council Health Inspector planted a slug in the floor during her inspection at I Cook Foods. The business was hit with 96 charges and folded, all charges were later dropped. A Whistleblower at Council said she saw the Health Inspector photoshop the slug photo.
Victorian Chief of Police Shane Sutton is a major player in the crime as well, destroying any chance of justice by actively moving 5 different Detectives on and off the case, who were then somehow unable to find any crime.
Scomo has a long way to go to match Dan Andrews and the corrupt Victoria Police. Amateur…
Saw this little tidbit on the local rag website.
https://www.perthnow.com.au/business/housing-market/pensioners-urged-to-downsize-amid-housing-crisis-but-some-older-west-aussies-not-convinced-it-will-work-c-8159943
What is your opinion on the bill? More hidden incentives for BB? Forced support for retirement village providers? Will it really have an impact on availability of affordable housing for the younger generations?
Idea has merits on face-value in my view. Still more broader changes required to Straya. For starters:
A good start IMHO – item -1- being key.
Why stop there, when socialism works so well? All Australians should be prevented from buying any investments, equities etc. beyond a set cap. SMSF’s should be limited to a % return level as well.
Just wanting to reduce/eliminate speculation on an asset-class which in my view is destructive to society when treated as such.
A good start IMHO – item -1- being key.
1 will never get up. It will effect the wealthy the most and they are the ones who fund the political parties.
4 is very problematic firstly because what actually defines a newbuild and having 2 identical houses next to each other be treated differently creates distortions.
Both 2 and 4 will actively discourage selling properties so will probably have far less effect than you expect.
Thx bjw. Brief reactive thoughts;
-1- in an ideal world you’d agree it would help though?
-4- definition could be done (iteratively improved); Who should care so long as speculation is punished.
-2 & 4- grandfather for existing owners
In an ideal world it wouldn’t be required.
I can also break it with 2 seconds of thought.
Commercial properties such as accommodation would have to be excluded if you want motels to still be a thing and therefore everyone will just make additional properties airbnb at ridiculous rates to circumvent the restriction.
Edit: additional problem. Where does anyone who can’t afford to buy a house live? Rental properties would be much harder to come by.
Applicable to only PPOR; AIRbnB (heavily distortionary also on society also) needs to be heavily regulated in my view – more policy to be thought-up.
Concede that my suggestions aren’t foolproof – iteration required.
iterate all you want. Until you are appointed supreme ruler it won’t matter though.
New Build requirement is why the Chinese immediately demolish houses they buy, or there is a mysterious fire.
Stamp Duty is State tax, which Victoria, Qld and NSW are drunk on. States blame Feds for problems with housing supply, which amps the prices. Local Council delays/imposed restrictions, State restrictions on supply of land, and State taxes are 99% of reason why prices are so high.
if we’re playing unimplementable dream world solutions why not just massively cut (or stop) migration and confiscate fringe greenfield land and mass build on it.
You don’t need to confiscate it.
Just stop actively preventing people from building on it with zoning would go a long way.
isnt the easiest solution just to ban money creation for LAND costs
or make it prohibitively expensive like credit card debt (or somewhere in the middle like a car loan)
you can only buy a house with money you have saved
limit the banks to only create money for productive purposes – business or BUILDING houses
the problem is, once you stop worshiping the market and giving up your agency to the market…. You need to work pretty hard to create an alternative.
how do you define money creation for land? How do you police and enforce it?
how do you check whether some sum of money “has been saved”? Who will do the checking? (Notice how “genuine deposit” rules are already paper-think?)
who and how will the testing of “productive purposes” be done?
how do you treat Wealthy Chinaman or Wealthy Texan who comes with SuitcaseOfMoney & wants to buy land? How do you test whether all or only some of his money has been “saved”?
how do you treat local corporations (partnerships, trusts, etc) if they want to buy housing. Or even just land?
it’s certainly not impossible, but it is very hard and requires work.
obviously the banks secure the loan against something
Currently its against the house
it wouldn’t be hard at all
Sure, cause the banks have never done anything to bend/circumvent the rules so they can lend more money…
Obviously another free kick for the boomers
Waleed hooked into some FW Labor politician (can’t remember which one) about pending policy making FHB’s compete with boomers for entry level houses….
hahaha. Labor are so fked.
Edit: Here it is…first story, 7 sept.
https://10play.com.au/theproject
No they’re not. Labor is fine, everything is fine.
Hypocrisy is a fundamental personality trait of the Left, the Green, the Milennial.
The likes of Simon Holmes a Court can inherit millions from coal and other boomer stuff, then become the Big Boss Teal, gaming the system and raping the Green subsidies without any shame. Waleed can benefit from privilege to get where he is then become the poster boy for ABC luvvie types to have guaranteed jobs on account of his ‘diversity’ for the rest of his life.
They’ll brush this aside and virtue signal for the next cause tomorrow.
The Jab was basically to save Grandma, but these morons will wipe Boomers from the earth first chance they get any power.
it’s a start
https://slaynews.com/news/dutch-farmers-topple-agriculture-minister-climate-agenda/?utm_source=mailpoet&utm_medium=email&utm_campaign=daily-newsletter
So, first we have the Chileans rejecting a proposed new woke Constitution.
Now we have the Dutch farmers rolling a woke government minister.
Goodness….what is the world coming to?
From the article linked:
One can only wonder what the Dutch government intended to do with all that prime agricultural land….I guess the WEF would have had some helpful suggestions for them.
It’s all about achieving the Net Zero target.
Wipe families from existence, do whatever you have to do, just hit that target of Net Zero.
Because…
Sucked in !!! All those sanctimonious boring as fuck Tesla owners are 5 ways the fuckwit now hey?
Dan Andrews puts extra tax on Electric Vehicles as well as making them provide log books annually…
Hahahaha!!!
https://thedriven.io/2022/06/30/victorias-controversial-ev-road-user-tax-to-increase-from-july-1/amp/
They still get a $3k subsidy that will cover the tax for a number of years.
$3k might need to pay for their lack of friends once everyone runs instead of hearing their boring stories about the fucking Tesla…