The scumbag's housing scheme.

[Aussie]

I watched today.

He was selling this super/housing deposit thing on the basis that the super is 'your money,' so you get to use it (conditions apply) to buy your first house.

Yay. Yes, 'It's my money. So I get to use it. Yay!'

What a fake prick snake oil sales pitch that was.


"Sure, it's my money, but you will only let me use my fucking money that you have under your tight control when it suits you, but I don't get to use my money whenever it suits me, you fucker!"

[Super Nova]

Here is a link. https://www.liberal.org.au/latest-news/ ... 20average.

The Super Home Buyer Scheme will start by 1 July 2023.

The great Australian dream of home ownership will be unlocked sooner for thousands of first home buyers who will now be able to harness their superannuation to get into the property market.

Under the Super Home Buyer Scheme, first home buyers will be able to invest up to 40 per cent of their superannuation, up to a maximum of $50,000 to help with the purchase of their first home.

It will mean Australians can buy their first home sooner by slashing the time taken to save a deposit by three years, on average.

The only issue I have with this is super is for pension. Again Australia wants to keep pushing house prices up and put young punters at risk.

In my opinion, if you cannot save a deposit, you cannot pay for a home. My reasoning is that it takes financial discipline to save. Interest rates are about to rise and I expect in a few years we see the bad old days of high interest rates.

So what happens if you are forced to sell, there is a small capital gain but you are in negative equity? How will that work? Does your pension lose out or do you end up in debt to your pension?

I am interested in what happens when things go wrong under this policy. I guess they have a little time to work that out. I would read the fine print very carefully.

[Aussie]

Here is a link. https://www.liberal.org.au/latest-news/ ... 20average.

The Super Home Buyer Scheme will start by 1 July 2023.

The great Australian dream of home ownership will be unlocked sooner for thousands of first home buyers who will now be able to harness their superannuation to get into the property market.

Under the Super Home Buyer Scheme, first home buyers will be able to invest up to 40 per cent of their superannuation, up to a maximum of $50,000 to help with the purchase of their first home.

It will mean Australians can buy their first home sooner by slashing the time taken to save a deposit by three years, on average.

The only issue I have with this is super is for pension. Again Australia wants to keep pushing house prices up and put young punters at risk.

In my opinion, if you cannot save a deposit, you cannot pay for a home. My reasoning is that it takes financial discipline to save. Interest rates are about to rise and I expect in a few years we see the bad old days of high interest rates.

So what happens if you are forced to sell, there is a small capital gain but you are in negative equity? How will that work? Does your pension lose out or do you end up in debt to your pension?

I am interested in what happens when things go wrong under this policy. I guess they have a little time to work that out. I would read the fine print very carefully.

The point is moot as the arsehole will be booted this Saturday.

[Super Nova]

Let's see. Big spending Labour doesn't help in the long run IMO.

[Aussie]

Let's see. Big spending Labour doesn't help in the long run IMO.

But...there is no evidence yet that what Labor is offering costs more than what the Libs are. Labor has not released their costings yet, so....'big spending' is without comparative foundation.

[J o h n S m i t h]

All this policy does is transfer the an amount from your super into the sellers hands. This policy will push prices up. The libs looked at this policy a few years ago and discarded it because it was decided that it wouldn't work. Scummo only resurrected it because he felt he needed something to combat albos policy, and this was all he had.

Let's see. Big spending Labour doesn't help in the long run IMO.

Crap ..govt spending has been on the increase since the libs won office under abbot. (see graph attached)

Libs doubled the debt before covid was even a thing. And we've got nothing to show for it.

[lisa jones]

I watched today.

He was selling this super/housing deposit thing on the basis that the super is 'your money,' so you get to use it (conditions apply) to buy your first house.

Yay. Yes, 'It's my money. So I get to use it. Yay!'

What a fake prick snake oil sales pitch that was.


"Sure, it's my money, but you will only let me use my fucking money that you have under your tight control when it suits you, but I don't get to use my money whenever it suits me, you fucker!"

Aussie you do realise that Paul Keating took this policy to market back in the early 1990's. It's a Labor initiative that he's resurrected.

Scomo stated at the Liberal Party Launch in Brisbane on the weekend that it will only be available to those qualifying 1st Home Owners wanting to buy their 1st home TO LIVE IN and it can go towards their deposit. Even then it's capped at 50K.

Essentially it's to give these people a chance to get over the line and secure a mortgage.

Interest rates have gone up AND lending criteria has tightened. So this is all about freeing a bit of cash for those trying to buy a property to live in.

Over the last few financial yrs there were around 100 000 first home owners out applying for a home loan. This number is expected to drastically reduce - hence this scheme.

I personally don't like the idea. Why? It's not enough to get first home owners over the line to meet the current strict lending criteria anyway. They won't be able to afford anything in Sydney.

Also I think it's a quiet way of pushing younger people out of Sydney into more affordable outer regions where houses and units are cheaper because they are cheaply and quickly made on small blocks of land and their capital appreciation rates are also low.

Here's a simple Sydney example to illustrate my point.

A 2 bedroom unit with 1 bathroom and 1 garage in Sydney is around 750K. I'm of course talking average area and an old style unit with the bare basics. It will probably require renovation. It's a realistic scenario though. For Sydney.

You need a 25% deposit to get over the line with a lender (because LMI is a no no plus they take into consideration stamp duty and conveyancing/legal and bank fees)

So you'll need 188K deposit up front.

What person in their 20's has that type of deposit lying around? They don't! Not unless mum n dad chip in along with any personal savings the 20 something has put together. Even then they'll be struggling.

That's where some super money would come in handy. However once again ... how much super does the average 20 something year old have? 20K? Maybe 30K tops. It's not going to be enough. Plus those who do qualify have to then pay that money back into their super fund IF/WHEN they sell their home.

The scheme MAY work if you buy something well out of Sydney but oh boy be careful doing that as petrol is climbing to $2 a litre and you'll be expected to cough up a lot in travelling costs (and tolls are pretty shocking now) to and from work. Unfortunately any real estate well out of Sydney FALLS easier so the risk of ending up with negative equity is there too.

Anyway ...when we were sitting down listening to Scomo deliver this so called reform for qualifying 1st Home Owners ..I immediately recalled Paul Keating in the 1990's doing the same thing as he entered election season during a recession.

Now Scomo is doing the same thing. And yes Australia IS in a severe recession now.

Unfortunately...Albanese has no experience in budgets or economics. And he has a lot of trouble remembering things. He's not a suitable replacement. And that's a shame.

This is why Australia is F U C K E D. And why everyone we know is laying low and restructuring their financial position so their money and assets are essentially invisible/as invisible as they can be.

Once we come out of recession AND a worthy Prime Minister who knows what he's talking about finally gets into position....then we'll be able to get back to where we left off. Until then...the word is to lay low and hibernate.

[Aussie]

And how does handing your vote, wasting your vote on a fucktard lump of lard Palmer going to address any of that? He will not win ONE HoR seat and will be very lucky to get ONE Senate spot and that will only be in Qld.

[lisa jones]

Australians need to wake up and boycott BOTH major parties next week. Post in favour of key Independents.

The LNP are coming to market with recycled ALP policies ffs. That should be enough of a clue.

The ALP don't have anything much to offer as Albo is very inexperienced and will fumble and stumble and keep making mistakes as he learns the ropes during a very critical time in Australia's history ie a time of deep recession with inflation and interest rates tipped to rise in the next quarter.

Make no mistake...the next few years will hurt.

If Labor gets in ...we will be led by a guy who has no treasury or economics or budget experience.

It's vital that Federal Parliament has Independents in both houses to hold the balance of power and kick arse.

Aussie ....I'm surrounded by self funded retirees in a safe Liberal seat. These retirees are panicking. The last thing we need right now is self funded retirees coming into Centrelink offices during a deep recession that's not going to end any time soon. Meantime our baby boomers are still doing what they've been doing for some time now...they're coming through the doors applying for their aged care pension. Can you see what's gonna happen very soon?

Bottom line? I do not envy the incoming government who wins office.

This is what they will need to juggle:

1. They will need to keep current self funded retirees out of Centrelink.

2. They will need to keep young people out of Centrelink. That means unemployment needs to be kept low.

3. They will need to support businesses esp small businesses to keep their doors open because they are important in employing people (self employed plus their staff). This will keep these 2 types of people out of Centrelink.

Meantime the health/wealth of our population is still affected by Covid19.

What WE need to do is step up and take care of ourselves because these arseholes have no idea WTF they're doing.

[Aussie]

Your vote will go to the Liberal candidate in your seat. It really amazes me how people do not understand preferential voting. You voted for the major party, Liberal by giving your vote to UAP. It lands in the Liberal count.

Stop kidding yourself.