Comment on Labor and Coalition housing policies a 'dumpster fire', expert says
Whirlybird@aussie.zone 5 weeks ago
Of the 2, the LNPs tax deductible interest is the much better plan. It definitely could help, but it does nothing to make housing for affordable.
The ALP plan also does nothing to make houses affordable.
Both parties are trying to maintain the housing markets perpetually increasing prices because if the bubble were to burst it would be catastrophic. It’s getting to catastrophic levels if it doesn’t burst though, but wealthy politicians who own multiple homes and are set for life don’t care about this type of catastrophe, only the former one.
null_dot@lemmy.dbzer0.com 5 weeks ago
All three of your comments are just trotting out the established conservative talking points.
The LNP’s deductible interest is a terrible plan. You haven’t suggested why you think it’s better than the ALP’s plan. Both plans will increase the cost of housing.
As regards LNP specifically, home ownership already attracts obscene tax concessions in that your home is exempt from CGT. In terms of someone’s stage of life financial cycle, the LNP’s plan dramatically heightens the imperative to buy a home in your 20s and 30s. If you don’t, you miss out on those tax concessions, which are effectively the ATO paying off a big chunk of your investment.
Whirlybird@aussie.zone 5 weeks ago
Ah yes, the classic talking points of….checks notes…. saying the conservative partys policies are bad.
The deductible interest idea is actually a good idea, not just for first home buyers but for all mortgages. It massively helps ease cost of living pressure that is brought on by interest rates on housing. Many countries already do this btw.
Home ownership doesn’t attract obscene tax benefits.
null_dot@lemmy.dbzer0.com 5 weeks ago
I didn’t say all conservative policies are bad, I rebutted your assertions.
You don’t really seem able to back up anything you’re saying. It’s all meme level vibe based reasoning.
Tax deductible interest on mortgages would just increase the cost of housing. Dramatically. Well done.
Land tax is well established as broad based with minimal compliance cost.