Australia’s house price crisis has continued to worsen throughout the pandemic with the country’s five largest cities all ranking in theSydney was ranked second and Melbourne was fifth, making Australia the only country with two cities in the top five, in the 2022 Demographia International Housing Affordability report.
Chair of the Standing Committee on Tax and Revenue, Jason Falinski, said what was a “bad situation” before the pandemic in terms of housing affordability, has “only got worse”. The report said the savings would not be used towards the deposit itself but would be “collateral for a home” and as a result would expand the “opportunity for home buyers”.
Mr Falinski said the measure would allow banks or financial institution to “take into consideration” the super security on top of a deposit. “The objection from Labor the Greens and Climate200 is that ‘Oh well you would find people having their superannuation removed’. A significant pillar of the report was dedicated to lashing local and state government regulation around planning given Australia’s natural abundance of land.
So all eggs in one basket? Is that astute? Does the added demand create systemic risks for the asset class therefore all banks? Feels very dangerous. Perhaps just build more infrastructure for regions so population becomes decentralised. Need to ignore..
Unless you have rich parents then just get them to pay for it. That's what the only people under 30 I know that have managed to get a house
How much super does the average young Australian have?
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Doubt that......Labor wins the election and they will have first piece of the pie.
Buying a house AKA mortgage is the worst financial decision someone can make today
If true horrendous. Maybe young Austns shldnt expect to have everything on a platter? Do what every generation before you did - work hard, make sacrifices, save, invest, take risks, pursue career, make every post a winner. If that’s too hard, then what else can you expect!?
Just more evidence how useless superannuation is to those within the working class, I doubt the big Super execs will like this taking their sugar trains away. It should also be accessed by those to put toward their mortgage also, that will piss the bottom lines off even more!
Superannuation! The billion dollar nest eggs that The Greedy Want To Steal
stop buying over priced housing thinking it's going to go up... simple
LNP / IPA and the Destruction of Superannuation
Won't that just push up demand and prices? It's a supply issue. auspol