Quote:
Originally Posted by Polyal
Yeah but our property "wealth" is false...the prices were going up while the times where good and people dont want them to go down when the poo hits the fan? Why?
I agree its not good for the nation but our reliance on property to grow "wealth" is not productive at all.
You also need to clamp down on foreign domestic housing investment...why its even allowed to get to the point it is now I dont know.
If foreigners want to invest they can build infrastructure or get into shares, not roof's over heads.
/rant.
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Economic rationalist, eh?
Problem with this country has been policy in the run and too much willingness to repeatedly change the rules. Much of the common wealth in this country is built on property because of decades of precedent, no GCT on family home, negative gearing, secure infrastructure and fairly tight supply of new stock.
All well and good for the high end of town who have commercial or prestige enclave residential and lots of non-property assets to change rules, buggers up the others who sweat for decades to build up something. But like all the other "leveling the playing field" moves....