The system gives the thumbs up to such activity, but we must alert you to the latest 'capital gains' success story trumpeted in today's Business Age (check p10*). Solomon Lew bought 151- 165 Franklin St (CBD) in 1982 for $810,000. He sold it recently for $30m. That's...
BLOG: housing affordability
Put away that cheque book, home buyers
photo credit: UGArdener This morning, Reserve Bank of Australia Governor Glen Stevens appeared on Seven Network’s Sunrise program to talk up interest rates and talk down the property market. Using tabloid television to broadcast RBA views is unprecedented. It...
Housing Media Wars
photo credit: chrisjohnbeckett With the housing bubble accelerating each day, sometimes you wonder if it is ever going to pop. Tim Colebatch has written a number of key articles of recent, including this one on negative gearing pointing out that investors now account...
Restrict negative gearing to new construction
photo credit: aphasiafilms Letter to the Editor David Collyer Balwyn THANK YOU, Tim Colebatch, for your clear-eyed review of our hopelessly distorted housing market (''Housing at these prices will leave us all a heavy debt to bear'', Comment, 23/3). Your solution - to...
Petition for Prosperity
photo credit: CarbonNYC Media Release “We have the means at hand to liberate the citizens of our great country from their current financial difficulties,” Prosper Australia’s Karl Fitzgerald said today. “The answer lies in reforming our tax system. A major petition to...
Triple the Supply Side Squeeze
Consider these three points: Property developers have openly stated they are reducing the supply of property to the market in order to massage land banking profits: While some already owe more than their home is worth, the result of prices initially boosted by first...
Generations Ask Y is Housing a Speculator’s Paradise?
By Karl Fitzgerald Crikey If we are all borne onto this planet as equals, why are some subsidised to own the planet at the expense of others? Don't we all deserve a roof over our heads? The right to participate in the Great Australian Dream? This is what Gen X, Y...